The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1867-06-19

The Company now offer limited amount of their
FIRST MORTGAGE BONDS
having L irty years to run, and hearing annual in
terest payable the first day OF January and July
in the City ofNew York, at the rate CT
Six Per Cent. in Gold,
Ninety Cents on the Dollar.
This road was completed from Omaha 3OJ miles
west on the LIST of January, 1867 and is fully
equipped, and trains are regularly RAINING over it,
The company has now or hand sufficient iron, ties,
etc., to finish the remaining portion to the eastern
base OF the Rocky Mountains, 212 miles, which is
under contract to be done September LIST OF this
year, and 1t is expected that the entire road will he
in running order from Omaha to its connec-
tion 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 ,565 miles, the United States Govern
ment issues its Six per cent. Thirty-year bonds to
the Company as the road is finished at the average
rate of about $2S,25O per mile amounting to $Ii,-
2O8 600. '------- ''-'
The Company is also permitted to issue its own
First Mortgage Bones to an equal amount. and at
the same time which by special Act OF Congress
made First Mortgage the entire line the bonds
Of the United States being Subordinate to them.
The Government makes donation of 10 500 acres
OF land to the mile, amounting to 2OO32O 900 acres,
estimated to be worth $500 900, making the toa
resources, exclusive OF the capital Sis 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 millions
have already been paid in, and Of which it is not
supposed that more than twenty-five millions at
| most will be required. MASsS So l273+e
| The cost Of the road is estimated by competent
engineers to be about one hundred million dollars
| exclusive Of equipment. $50
Prospects for Business.
The railroad connection between Omaha and tho
East is now complete, ami the earnings of the Union
Pacific on the sections already finished for the first
| two weeks in May were S1t3,o0O. These sectional
| earnings as the road progresses, will much more
than pay the interest Oh 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 the security
their Bonds and additional proof they would sug
gest that the Bends offered less than ten
million dollars 517 miles of road, OH which over
| twenty million dollars have already been expended
on $50 miles of this road the now running,
and the remaining 1877 miles are nearly completed
At the present rate OF premium on gold these
bonds pay an annual interest on the present cost
| .t1u 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 al
the present low rate and retain the right to advance
| the price at their option. ta...
Subscriptions will be received in New York by the
CONTINENTAL NATIONAL BANK No 7, Nassau st.
CLARK, DODGE & Co., BANKERS, 81 Wall ST., e..
JOHN j CISCO s. Son, BANKERS. No. SO, Wall s.
and by BANKS AND BANKERS generally
throughout the United States, OF whom maps ant
descriptive pamphlets may lie obtained. They
will also be sent by mail from the Company's office
No. 20 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.
JOHN j. CISCO, Treasurer
.N' Jay. i+sH.a tla.lrtE.l NEW YORK
W. H. WOOD q SON, are agents tor the sale q
the above bonds in this city, junc3d&w3m
| NU.U