The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1867-07-02
MISCELLANEOUS.


THE
j MON PACIFIC
RAILROAD co.
Are now constructing Railroad from
OMAHA, NEBRASKA,
westward towards the Pacific Ocean, making WIT
Its connections an unbroken line
ACROSS TIE CONTINENT.
The Company now offer limited amount of Their
FIRST MORTGAGE BONDS
terest, payable the first day OF January and July
in the City OF New York, at the rate Ct
Six Per Cent. in Gold,
AT
Ninety Cents on the Dollar.
This road is already completed to Julesburg, three
hundI cd scvtnty-six miller west Omaha, and fully
equipped, and trains regularly running over it,
The company has now on HAND sufficient iron, ties,
etc., to finish tho remaining portion to the eastern
base OF the nocky Noun tains, PIP miles, w.iich is
under contract to be done September LIST OIL this
year, and 1t is expected that the entire road Wi, be
in running order from Omaha to its western connec-
ton with the Central Pacific, now being rapidly
built eastward from Sacramento, CAL, during 1870
Means of the Company.
Estimating the distance to be built by the Union
Pacific to be 1856 miles, the United States Govern
ment Issues its Six per cent. Thirtyyear bonds to
the Company the road is finished at the average
NJ mar mil mt IN l.
20S,gOo.
the Company is also permitted to issue its own
First Mortgage Bonds to an equal amount and at
the same tine which by special Act of Congress
made First Mortgage on the entire line the bonds
OF the United States being subordinate to them.
The Government makes donation of Il 500 acres
OF land to the mile, amounting to 2O,oS2,ooO acres
estimated to be worth So, OO0,00O making the
resources, exclusive OF tho capital Sis ,o00 but
the full value OF the lands cannot be realized.
The authorized Capital Stock Of the Company il
one hundred million dollars, of which five millions
havs already been paid In, and OF which 1t is not
supposed that more than twenty-five millions at
most will be required .------,..-
The cost OF the road Is estimated by competent
engineers to BIO about one hundred million dollars
exclusive OF equipment.
TE7 prospects FOR business.
The railroad connection between Omaha and the
LAST is now complete, ami the earnings of the Union
Pacific on the sections already finished for tho first
two weeks in May were S1l3,'00 These sectional
earnings, as the road progresses, will much more
than pay the interest on the Company's bonds, and
the through business over the only line of railroad
between the Atlantic and Pacific must be immense
Value and Security of the Bonds.
The Company respectfully submit that the above
statement OF facts fully demonstrates tho security
their Bonds, and as additional proof they would sug
gest that the Bonds now offered are less than ten
million dollars on 617 miles of road on which over
twenty million dollars have already been expended
on $50 miles of this road tho are now running
and tho remaining 1877 miles are nearly completed.
At the present rate OF premium on gold these
bonds pay an annual interest on the present cost
Nine Per Cent,
and it is believed that the completion of the road
like the Government bonds, they will go above par
The Company intend to sell but limited amount at
the present low rate and retain the right to advance
the price at their option.
Subscriptions will be received in New York by the
CONTINENTAL NATIONAL BANK, No T. Nassau St.
CLARK, DoDoE q Co., BANKERS, 81 Wall St.,
JOHN Cisco Son, BANKERS. No. SO, Wall St
and by BANKS AND BANKERS generally
throughout tie United States, Of whom maps and
descriptive pamphlets may he obtained They
viii also be sent by mail from the Companys office
No. 20 Nassau street, New York, on application
Subscribers will select their own Agents In hon
they have confidence, who alone will be responsible
to them for the safe delivery Of the bonds.
John J. CISCO, Treasurer,
NEW York
w. H. WOOD q SON, are agents tor the sale OF
the above bonds In this city. june3d&w3m