The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1867-06-26

THE
UNION PACIFIC
RAILROAD co.
Are now constructing Ra;lro d from
OMAHA, NEBRASKA,
westward toward the Pacifie Ocean. max
ing. with its connections, an unbroken
ACROSS THE CONTINENT.
The Company now offer limited amount
of their
FIRST MORTGAGE BONDS,
THIRTY years e run On 6 nd sa ag
of January al July, in the City OF New
York, at the rate of
q SIX, PER CENT, IN GOLD.
at
Ninety Gents On the Dollar.
This road was completed from Omaha
3O5 miles west on the LIST of January, 1867,
and is fully equipped, and trains are regu-
larly unning over it. The Company has
now on hand SO fficient iron. ties, etc., to
finish the remaining portion to the east
miles, which is under contract to be done
September LIST of this year; and it is ex-
pected that the entire road will be in run
connection with the Central Pacific, now
being tn idly built eastward from Sacra-
mento, CAL, during 1870.
Means of the Company.
the Union Pacific to be l ,565 miles. the
United States Government issues It's Six
per Cent. Thirty Year Bonds to the Com
pany as the road is finished. at the average
rate of about $3.50 per mile amounting to
s44, Dos, GOD
TIE 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 Congress, are made First
Mortgage on the entire line, the bonds of
the United States being subordinate TO them.
The Government makes donation OF
1880 acres of land to the mile, amounting
10 20 032, 900. acres, estimated to be worth
elusive Of the capital, 81 s, 4I6, 600; but the
full value of the lands cannot now be real
lied.
The autho lied Capital Stock of the Com
pany is one hundred million dollars, OF
which five millions have already Eeen
paio in, aud of which it is not supposed
that more imam twenty-five millions at
most will be required.
The cost of the road is estimated by COM
petent engineers to be about one hundred
million dollars, exclusive of equipment.
Value and Security of the Bonds.
The Company respectfully submit, that
the above statement of facts fully demon
additional proof, they would suggest that
the Bonds now offered are less than ten
million dollars on 5l7 miles of road. on
which twenty mill dollars have al
ready been expended. On 800 miles of this
rO ID the cars are now running, and the re-
maing lo7 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 in
tend 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
No. Z Nassau Street; r
CLARK, DODGE l. Co., Bankers,
81 Wall Street;
JOHN j. Cr.Co & 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 will also be sent by mail
from the Company's Office, No. 20 Nassau
Street, New York, on application. Sub
scribers will select their own Agents, in
whom they have confidence, who alone
will be responsible to them Tor the safe
delivery of the bonds.
IOIIO II CTCHN