The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-07-29
Ninety Cents on the Dollar.

This road is already completed TO Julesburgh,
376 miles west of Omaha, and is fully equipped,
and trains are regularly running over it.
The Company has now on hand sufficient
iron, ties, etc, to finish the remaining portion TO
the eastern base of the Rocky Mountains. I4l
miles, which is under contract to be done in Sep
TENDER of this year, and it is expected that the
entire road viii be in running order from Omaha
to its western connection with the Central Pacific,
now being rapidly built eastward from Sacrament
to, CAL, during 1870.
Means of the Company.
Estimating the distance to be built by the Union
Pacific to be 1865 miles, the United States Gov
eminent issues its Six per cent Thirty-year bonds
to the Company as the road is finished at the sv-
erage rate of about $2S, 25O per mile, amounting
to 81, 20S, 900.
The Company is also permitted to issue its
First Mortgage Bonds to an equal amount, and at
the same time, which by special Act of Congress
are made First Mortgage on the entire line, the
bonds of the United States being subordinate to
them.
The Government makes a donation of 1880
acres of land to the mile amounting to 90 032 600
acres, estimated to be worth $50, 00o,0O making
the total resources, exclusive of the capital Slls
416, goo but the full value of the lands cannot
now be realized.
The authorized Capital Stock of the Company
is one hundred million dollars, of which five mil
lions have already been paid in, and of which it
is not supposed that more than twenty-five mil
lions at most will be required.
The cost of the road is estimated by competent
engineers to be about one hundred million dollars
exclusive of equipment.
Prospects for Business.
The railroad connection between Omaha and
the East is now complete, and the earnings of the
Union Pacific on the sections already finished for
the first two weeks in May were $4,000. These
sectional earnings the road progresses will
much more than pay the interest on the COmpa-
nys bonds, aud the through business over the on
ly line of railroad between the Atlantic and Pa
cifc must be immense.
Value and Security of the Bonds.
The Company respectfully submit, that the
above statement of facts fully demonstrates the
security of their Bonds and additional proof
they would suggest that the Bonds now offered
are less than ten million dollars on 517 miles Of
road on which over twenty million dollars have
already been expended ON $50 miles of this
road the cars are now running, and the remaining
ISL miles are nearly completed.
At the present rate of premium on gold these
bonds pay an annual interest on the present cost
of
Mime Per Cent,
and it is believed that on 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, 10. Il Nassau
Street,
CLARK, DoDGE Co., BANKERS, 81 Wall st.
JOIN j. Cisco SoN, BANKERS, No. 80 Wall
Street,
and by BANKS AND BANKERS generally
| throughout the United States, of whom maps and
descriptive pamphlets may be obtained. They
win also be sent by mail from the Company's
Office, No. 20 Nassau Street, New York, on appli-
cation. Subscribers will select their own agents
in whom they have confidence, who alone win be
responsible to them for the safe delivery of the
bonds
JOHN J. CISCO,
sa TREASURER,
NEW YORK.