Litchfield enquirer., 1867-12-12
2.--First Mortgage Bonds.

AA SG NAOA N9&SS9S OOkaNASs
 By its charter the Company is permitted t o issue it's own First Mortgage 3onds to the me amonnt as the bonds issued by the government and no more and only as the road progresses. The trustees for the bondh olders are the Hon E. D. Morgan, U. S. Senator from New York. and the Hon. Oakes Ames, Member of U. s, House of Representatives who are responsible for the delivery of these bonGs to the Company ia strict accordance with the terms Of the law.
 3.--The Land G. amt.
 The Union Pacific Railroad Company has land grant or absolute donation from the gov ernment of F 8e0 acres to the nie on the Ii ne ot the road, which will not be worth less th an $1 50 per acre at the lowest valuation.
 1.-The Capital Stock.
 The authorized capital oi the Union Pacific Railread Company is loo. coo ooo' of which over s ,00O,0o0 have beer pad on the work already done.
 THE MEANS SuFFICIEST TO BUILD THE RCAD. 9l4 miles of first class railroad west from Om- aha comprising much of the most difficult mountain work, and embracing every expense except surveying. have been made with respon- sble parties lwho have already finished over 500 miles,l at the average rate of sixty eight thousand and fity-eight dollars (68O58) per mile. This price includes all necessary shops
 
 stations and all other incidental buildings. . d also locomotives, passenger, baggage and freight cars and other requisite rolling-stock, to an amount that shall not be less than $5 900 per mile. Allowing the cost Of thes sremaining one hundred add eighty six o! the eleven hundred miles assumed to be built by the Pacific Gem pany to be s90, 900 per mile.
 TIE TOTAL Cosr OF ELEVEN HUNDRED MILES
 WILL RE As FOLLOWS:
 9l4 miles, at $68 O53 ... .$G2 POE. .O12 l86 miles, a1 $50, GOO ......... l6,740 ,O0O Add discounts on bonds surveys, &c. 4,5O0. .00o
 AIlOuOt. 'PoOt4I
 is the U. ;. Bonds are equal to money, and the company's own First Mortgage Bonds have ready market, we have as the
 AVAILABLE CASH RESOURCES FOR BUILDING ELEVEN
 HUNDRED MILES:
 First Mortgage Bonds. ............ 29, ,328, coo Capital stock paid in on the work now Land Grant, If acres at sl, ,5oper ''''' ''0
 Total ss5; 145 75O The company have ample facilities for supplying any deticiency that may arise in means for con struction. This may be done wholly or in part by additional subscriptions to capital stock Active inquiry has already been made for DOT tlon Of these lands, and arrangements are now pro- posed to offer part of them for sale. While their whole value will not be available for some years to come. they will remain very important source of revenue to the company. The lands of the Illinois Central Railroad Co.,, selling at from s6 to SIP per acre, and other land-grant companies in the West are receiving equal prices for similar proper ties.
 FUTURE BUSINESS,
 The most skeptical have never expressed doubt that when the Union Pacific Railroad is finished the immense business that mus: flow over it, as the ly railroad connecting the two grand divisions of the North American continent, will be one of the wonders of railway transportation, and as it will have no competitor It can always charge renumer- ative rates.
 EARNINGS FROM WAY BUSINESS. During the quarter ending July 31, an average of 325 miles of the Union Pacific Railroad was in op- eration. The superintendent's Report shows the result.
 Passengers, Freights, Telegraph and Transporting of Contractors Materials
 and Men -...................... 47S,2S3 fl
 AOtA4 .$4, AOO,Uoo So
 EXPENSES.
 Fuel Repairs oaees' Conductors Trains &eas sao O, Net Earnings to balance e............. 607, ,5OS 0S
 Total. ...:............:; :; S1 ,2O3, o3S 90 The net operating expenses on the commercial business for the quarter were s237, ,966 5O The account for the commercial business stands as fol- Iows:
 Earnings for May, June and July. .s72s, ,7e554 Expenses 237 ,955 50
 Net Profit. .......... s4s5, ,7ss O4 The amount of Bonds the Company can issue on 325 miles, at $46 900 per mile, is s5 O00 Inter- est in gold, three months. at per cent. on this sum, is s78, 900: add 40 per cent, premium to cor respond with currency earnings, ia sl09, ,200-show- ing that the net earnings for this quarter were more than four times the interest on the First Mortgage Bonds on this length of road. First Mortgage Bonds. whose principal is so amply provided for, and whose interest IS so thoroughly secured, must be classed among the safest investments. They pay SIX PER CENT IN BOLD, and are offered for the present at ninety cents on the dollar, and accrued interest at six per cent in 1 currency from July 1.
 Many parties are taking advantage of the pres ent high price of Government stocks to exchange for these Bonds, which are over fifteen per cent cheaper, and at the current rate of premium on OVER NINE FER CENT. INTEREST Subscriptions will be received in Litchfeld. by H. h. Coit Cashier, First National Bank Litchfield and in New York at the Coinpanys Office, No. % Nassau st., and by Continents National Bank No T: Nassau st., Clarke Dodge & Co.,, Bankers No. 5 Wall st., John J. Cisco & son. Bankers, No. B Wal st., and by the Company's advertised agent, throughout the UnitedsS.ates Of whom maps ant descriptive pamphlets may be obtained on applca ton. Remittances should be pade in drafts o other funds par in New York, and the bonds will b. sent free of charge by return express. oss. q. 1sss. = ~ sa2n