Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1867-07-18
financial.

TH5
Union Pacific
RAILROAD CO.
Are now constructing n Railroad from
NJ .. OMAHA, NEBRASKA, f
Westward towards the Pacific Ocean, making
with It's connections an unbroken line
Across the Continent.
The Company now Offer limited AMOUNT OF
their .f ..ttafJ .f...s.. .....t@
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
SIX PER CENT. IN GOLD,
Ninety Cents on the Dollar.
( This road was completed TO Julesburg, s7e miles
West of Omaha, and is fully equipped, andtrains
are regularly running over II. The Company
has now on hand sufficient iron, ties, ETC., to
finish the remaining portion to the Eastern
base OF the Rocky Mountains, Ill miles, which
Is under contract to be done in September
Of this year, and 1t is expected that the en-
tire road will be In running order from Omaha
to Its Western connection with the Central Pa
ciic, 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 585 miles, the United states
Government issues It's Six per cent Thirty-year
Bonds to the Company as the road is finished at
the average rate of about SIS $50 per mile,
amounting to sit, ,2OS,O0O
The Company is also permitted to issue It's
own First Mortgage Bonds to an equal amount,
and at the same time, which by special Act OF
Congress are made IA First Mortgage ON the en-
tire line the bonds of the United States being
subordinate 10 them.
The Government makes O donation of l2,SO0
acres of land to the mile, amounting to % 032 900
acres estimated to be worth $50, 900 O0O making
the total resources exclusive of the capital slls
4l6,0O0; but the full value of the lands cannot
now be realized. .,r.. o..
The authorized Capital stock of the Company
is one hundred million dollars Of which five
millions have already been paid in, and Of which
1t is not supposed that more than twenty-five
millions at most will be required.
The cost of The road is estimated by compe-
tent engineers to be about one hundred million
dollars exclusive of equipment.
-uso 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 finish
ed for the first two weeks in May were $4,000.
These sectional earnings as the road progresses
VIII much more than pay the interest on the
Company's bonds, and the through business
over the only line Of railroad between the At
lantic 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 of their Bonds, and as additional proof
they would suggest that the Bonds now offered
are less than ten million dollars on 5l7 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 lS7 miles are nearly completed. t.#
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 20
above par. The Company intend to sell but q
limited amount at the present low rate and re-
tain the right to advance the price at their option
Subscriptions will be received in New York by
the .,..l. ... .".. .a. aI
Continental National Bank, No. Nassau 81.
CLARK, Dodge .t Co., Bankers, 81 Wall ST. 4.
John j. Cisco & Son, Bankers, No. 80 Val ST.,
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 COM
pany'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 ]. CISCO, Treasurer,
je6-3m New York.