Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1867-08-01
THE UNION PACIFIC RAIL ROAD

THE UNION PACIFIC RAIL ROAD
Il Co. are now constructing railroad from
Omaha, Nebraska, westward towards the Pa
cifc Ocean, making with its connections AT
unbrOken line across the continent. The Com
pany now offers limited amount of the first
Mortgage Bonds having thirty years to run,
and bearing annual interest, payable on the
first day of January and July, in the city of
New York, at the rate Of six per cent. in gold,
at ninety cents on the dollar.
This road is completed to Julesburgh, 376
miles west of Omaha, and ls fully equipped,
and trains are regularly running over It, The
company has now on hand sufficient iron ties,
&C, to finish the remaining portion to the east
ern base OF the Rocky Noun tains, 2l2 miles,
which is under contract to be done in September
of this year, and it il expected that the entire
road will be in running order from Omaha, to
it's western connection with the Central Pacific,
now being rapidly built tastwa from Sacra-
mentO, Cal, during 1870.
MEANS OF THE COMPANY.
Estimating the distance to be built by the
Union Pacific to be 1865 mies, the United
States Government issues its six per cent.
Thirty year Bonds TO the Company as the road
is finished at the average rate OF about S2S $50
per mile, amounting TO S44 .0SCO0
The Company is also permitted to issue its
own First Mortgage Bonds to an equal amount.
and at the same time which by special Act Of
Cons ress are made d first Mortgage on the en-
tire line, the bonds of the United States being
subordinate to them.
The government made a donation of y, 500
acres of land to the mile aR bunting TO 2O,O32OO0
acres estimated to be worth S30,O00ODO making
the total resources, exclusive of the capital,
Sl1S,4l6,000; but the fall value Of the lands can
not now be realized.
The authorized capital stock of the Company
| is one hundred million dollars, Of which five
| millions have already been paid in, and of
| which il il not supposed that more than TWEEN
| ty.fve millions at most will he required.
The most Of the road is estimated by COmpe-
| tent engineers to be about ODshundred 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 fin
! ished tor the first two weeks in May were $ll3,-
| 600. These sectional earnings as the read pro-
| crosses VIII 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 or THE BONDS.
| The Company respectfully submit, that the
above statement of facts fully demonstrates the
! security nf their Bonds, and as additional proof
| they would suggest that the Bonds now offered
are less than ten million dollars ON 5l7 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 remain
! ing 1877 miles are nearly completed.
| At the present rate of premium on gold
| these bonds pay aa annual interest on the
present cost of nine per cent, and 1t is believed
| tnaJ on the COmplctlou OF lne Iodu, AIhC Iue
Government BOrds, they will go above par.
The Company intend to sell but limit ed
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, NOT Nassau st.
Clark, Dodge, i Co, Bankers, 81 Wall ST.,
John j. CisCo Il Son, Bankers, No. 33 Wal
Street, and by Banks and Bankers generally
throughout the United States Of whom maps
and descriptive pamphlets mey be obtained
They will also be sent by mail from the Com
pany's Office, No, ? Nassau Street, New York
on application. Subscribers will select the
own Agents in whom they have confidence, wht
alone will be responsible to them for the SAT-
delivery of the bonds.
JOHN j. CISCO, Treasurer,
may30d&w3m New York