The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1867-06-18

The Company now offer limited amount Of their
FIRST MORTGAGE BONDS
having thirty years to run, and bearing annual in
terest payable on the first day Of January and NV
in the City Of New York, at tile rate Of -
Six Per Cent. in Gold,
Ninety Cents ON the Dollar.
This road was completed from Omaha sO5 miles
west, On the list of January, 1867, 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 caste xp
base OF the Rocky Mountains, PIP miles, which is
under contract to be done September LIST OF this
year, and 1t is expected that the entire road will be
IN running order from Omaha to its western connec
ton with the Central Pacific, now being rapidly
built eastward from Sacramento. Cal. during 1870.
Means Of the Company.
Estimating the distance to he 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 S2s25 per mile, amounting to si4,-
208, 900.
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 Congress are
made First Mortgage on the entire line, the bonds
OF the United States being Subordinate to them
Inc government makes donation of 70 800 acre
OF land to the mile, amounting to 20, O32 900 acres,
estimated to be worth $50 OO0,O oO making the tota
resources, exclusive OF the capital, S11s OOO but
the fui value OF the lands OF be realized.
The authorized Capital Stock of the Company is
one hundred million dollars, a 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
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 s11a,o00. These sectional
earnings, as the road progresses will much more
than pay the interest on the Company's bonds, and
the through business 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
statementef facts fully demonstrates the security o
their Bonds and as additional proof they would sug-
gest tnat the Bonds now offered are less than ten
million dollars 617 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 1877 miles are nearly completed
At the present rate Of premium on gold these
bonds pay an annual interest on the present cost o
Nine Per Cent,
and 1t is believed that the completion of the road
like the Government bonds they will 60 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, No Z, Nassau St.
CLARK, DODGE q Co., BANKERS, 81 Wall St.,
JOHN Cisco & Son, BANKERS. No. 49, Wall st
and by BANKS AND BANKERS peneraltv
throughout the United States, OF whom maps a,sd
descriptive pamphlets may be obtained. II ey
VIII also be sent by mail from the Companys off &C
No. 20 Nassau street, New York, on applcat ION
subscribers will select their own Agents in W hon
they have confidence, who alone will be respon dbl
70 them for the safe delivery of the bonds.
JOHN j. CISCO, Treasurer.
JuneSd@wsm NEW YOR X.