The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-09-06
NEW YORK FRIDAY SEPTEMBER g. 1867.
FINANCIAL.


FINANCIAL. ....,-.-,,.....
1f0 MILES or THE
UNION PACIFIC RAILROAD,
RUNNING WEST FEqM OMAHA ACROSS THE
CONTINENT,
competed. and is expected that the remaining
81 miles carry the the track to the base Of the Rocky
Mountains VIII be finished early in October Contracts
already been made for rock cuttings beyond to bs
done during the winter The work being pushed forward
with equal energy the California of the route. under
the direction the Central Pacific Company, commencing
Sacramento and confidently expected that the two
roads viii meet in 1870 thas completing the entire grand
line connecting the Atlantic and Pacific oceans, which
thirtyavs million dollars in already been CT.
pended From the liberal aid the wealth and
energy of the stockholders and the ready market for the
First Mortgage Bends there want Of funds for the
most vigorous prosecution OF work. and its early com
pstion is as certain as any business event be-
The available means OF the Uuon Pacific Railroad Com
pany may be briefly summed up follows
I.-UNITED STATES BONDS,
bearing per interest at the rate Of sSo
per mile for 5l7 miles the ans then at the rate Of
s.s 900 per milo for l5o miles through Rocky Mounsns
then at the rate $4,000 per mile for the remaining dis
apcepssng an average OF about $3.50 per mile. The
desire of the the early construction OF
the road is 50 great completion is 50 important to
the country that it takes second lien its security
The sses these bonds only each section Of
.wenty miles is finished. and is certified by United
States Commissioners to be in respects arst class road
and fully equipped with stations locomotives &c. and
ready for business.
ITS OWN FIRST MORTGAGE BONDS:
By its charter the Company permitted issue
First Mortgage Bonds the amount the Bonds is.
sued by the Government more and only tho road
progresses The mortgage which boudholdes
is made TO Hon r. D. Morgan United States Senator from
New York. and Hon. oases Ames member Of the United
States House OF Representatives from Massachusetts A.
Truses who alone can deliver the Bonds the Company
and who are responsible strict accordance
with the terms of the law.
s-THE LAND GRANT.
The Union Pacific Railroad Company has land grant,
absolute donation from the Government OF soo to
the mile which is believed win not be worth loss than
thirty mlhon dollars. tD
1.-THE CAPITAL STOCK
The authorized capital Union Pacific Railroad Com
psny one hundred million dollars, OF which million
dollars have been paid the work already done Of
which il is no. supposed that than twenty Ave millions
in all win os required.
The company have careful not 10 mako any state
mens to the pube that were fully warranted and their
published estimates OF earnings have always been
much less than the results. The true prophet who
should predic. the immense that must fol-
low the opening Of only through line connecns the At
l.nt, and Pacific indeed Europcwh China and
J..ssishs he cousidsrsd visionary ~ the ognasors
Of se Eric r,iroad who estimated that it, future
would .. some time thsee mious year.
already reached moro than nftecn millions.
NET EARNINGS OF THE UNION PACIFIC
RAILROAD.
During the quarter ending July 81 Of the current year.
sn average Of x miles Union Pacific Railroad was
in operation The supsrinendcns r-por. the fol.
lowing result
EARNINGS.
Passengers .so1e1o ~
''so'1
Telegraph lAo 70
Mails. laiD 20
Transportation, contractor materials. seNo
Transportation conirAe'Sr ep'''''''''''' So"" "