Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1867-06-13
THElUNIoN PACIFIC RAITP ROAM


Co, aae now constructing railroad from
omaha, Nebraska, westward towards the pa
cue ocean, making with its connections az
uhoroken line across the continent The Com
pany now offers limited amount of the hrst
Mortgage Bonds having thirty years 10 rnS
ana bearing annual interest, payable on the
hrst DAY OF January and July In the city az
new orK at the rate Of six per cent in GOLD,
AT ninety cents on the dollar
This road was completed from Omaha 9Os
miles west on the lst of January, 1867. and h
luUy equipped, and trains are regularly run
ming over It, The company has now on hand
sHthclent IRON ties, sc, TO finish the remaining
portion TO the eastern base of the Rocky
Mountains, Pig miles, which il under contract
10 ne done Septemher LIST, of this year and IN
lsexpeCted that the entire road viii be In run.
nlng order from Omaha, to Its western conneC.
uoh Win the Central Paeihc now being rapid
~ built eastward from Sacramento, CAL during
1870.
MEANS OF THE COMPANY,
Estimating the distance to be built by the
Union Pacific TO be 1855 miles, the United
States Government issues its six per cent
Thlrty,year Bonds to the Company as the road
Is finished atthe average rate of about S9s, $50
per mile, amounting TO $H,s0s000,
The Company also permitted TO issue its
own First Mortgage Bonds to an equal amount.
and at the same time, which by special Act of
| ConEr ess are made first Mortgage on the en-
| tire line, the bonds of the United States being
| subordinate to them,
The government made a donation of u 500
acres of land to the mile amounting to 90 032 900
! acres, estimated to be worth $50, 900 600, making
| the total resources, exclusive of the capital
| $uSAlb,OOO; but the full value Of the lands can.
| not now be realized
| The authorized capital stock Of the Company
| is one hundred million dollars, of which i've
! millions have already been paid in, and of
! which 1t IL not supposed that more than TWEEN
| ty-hye millions at most will be required.
- { no il Gtj Inv
! tent 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 I'm
shed Tor the fret two weeks in May were Sll3,-
| 600. These sectional earnings as the read pro
| crosses VIII much more than pay the interest
| on the COmpauy's bonds and the thrOuph
| 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 of their Bonds and as additional proof
they would suggest that the Bonds now offered
| are less than ten million dollars on 81 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 lSI 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 s believed
that on the completion of the road, like the
| Government Bonds, they will 90 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, Nor Nassau ST..
Clark. Dodge, Il Co, Bankers, 81 Wall St