Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1867-07-11
THE UNION PACIFIC RAIL ROAD

THE UNION PACIFIC RAIL ROAD
L Co. are now constructing railroad from
omaha, Nebraska, Westward towards the Pa
cihc Ocean, making with its connections al
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 ak per cent, in gold,
at ninety cents on the dollar.
This road is completed to Julesburgh $40
miles west of Omaha, and Is fhny 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 Mountains, 2l2 miles,
which is under contract to be done in September
OF this year, and il is expected that the entire
road will be in running order from Omaha, to
Its western connection with the Central Pacific,
now being rapidly built eastward from Sacra-
mento, Cal, during 1870.
MEANS OF THB COMPANY.
Estimating the distance to be built by the
Union Pacific to be 1885 miles 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 $2S $50
per mile, amounting to S44,20s,000.
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 first Mortgage on the en-.
tire line the bonds of the United States being
subordinate to them.
The government made a donation Of r. 500
acres of land to the mile Amounting 30 30 032 900
acres, estimated to be worth so 1000, making
the total resources, exclusive Of the capital,
Sl1S,4l6000; but the full 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 it is not supposed that more than TWEEN
ty-fve millions at most will be required.
The mOst of the road q . estimated nv
tent 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 fin.
lshed Tor the frat two weeks in May were Sll3,-
600. These sectional earnings as the road pro-
crosses Will much more than pay the interest
on the Companys 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 the
security If their Bonds, and as additional proof
they would suggest that the Bonds now offered
are less than ten million dollars on SIT 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 an annual interest on the
present COst of nine 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, NOT Nassau ST.,
Clark, Dodge, q Co, Bankers 81 Wall St.,
John j. Cisco q Son, Bankers, No. 80 Wall
Street. and by Banks and Bankers generally
throughout the United States, of wnon maps
and descriptive pamphlets mey be obtained.
They will also he sent BY mail from the Com
pany's Office, No, q Nassau Street, New York,
on application. Subscribers will select their
own Agents in whom they have confidence, who
alone will be responsible to them for the safe
delivery of the bonds.
JOHY J. CISCO, Treasurer,
may30d&w3m New York