The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1867-06-20
FIRST MORTGAGE BONDS
Ninety Cents on the Dollar.

305 miles west on the LIST of January, 1867,
larly cunning over it. The Company has
now on hand sufficient 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 IL Is ex-
pecI ed that the entire road viii be IN run
ming order from Omaha to Its western
connection with the Central Pacific, now
being rapitily built eastward from Sacra-
mento, CAL, during 1870. aef
Means Of the Company.
Estimating the distance to be built by
the Union Pacific to be 1865 miles. the
United states Government issues It's SIX
az eaas Se@
rate OF about $3.50 per mile amounting to
81, 208, 600
The Company is also permitted to issue
its own First Mortgage Bonds to an equal
special Act 81 Congress, are made a First
Mortgage on the entire line, the bonds OF
the United States being subordinate to them.
The Government makes donation OF
$500 acres of land to the mile, amounting
to 20 ,032, 600 acres, estimated to be worth
$40, 900 900, making the total resources, ex-
elusive of the capital, 81 SAG 900; but the
full value OF the lands cannot now be real
ized.
The autho. lied Capital Stock of the Com
pany is one hundred million dollars, OF
which fise mtilionsshave already Lee1
that more than 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.
Prospects for Business.
The railroad connection between Omaha
and the East is now complete, and the
tons already finished for the first two
weeks IN May were $4,000. These ser-
tionai earnings as the road progresses will
Company's bonds, aRd the through bush
ness over the only line OF railroad between
the Atlantic and Pacific must be immense.
Value and Security of tie Bonds.
The Company respectfully submit, that
the above statement OF facts fully demon
strates the security of their Bonds; and as
additional proof, hey would suggest that
million dollars on SIT miles of road, on
which twenty mill II dollars have al
ready been expended. On $50 miles of this
road the ca rs are now running, and the re-
maing 1877 miles are nearly com Ieted.
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 =.
| CONT MENTAL NATIONAL BANK,
Not Nassau Street;
CLARK, DODGE & Co., Bankers,
81 Wall Street;
| JOHN J. CISCO & Son, Bankers.
No. 80 Wall Street;
| and by Banks and Bankers generally
| throughout the United States, of whom
maps and descriptive pamphlets may bs
ontained. They vii! also be sent by mai
| from the Company's office, No. 20 Nassau
| Street, New York, on application. Sub
| scribers will select their own Agents, IL
whom they have confidence, who alon,
will be responsible to them for the SAT-
| delivery of the bonds.
JOHN j. CISCO,
Treasurer,
/ may3O d&w3r NEW YORK