The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-07-18


the eastern base of the Rocky Mountains, l4l
miles, which is under contract to be done in Sep
TENDER of this year, and it is expected that the
'entire road will be in running order from Omaha
to its western connection with the Central Pacific,
now being rapidly built eastward from Sacramen-
to, Cal, during 1870.
Means Of the Company.
Estimating the distance to be built by the Union
Pacific to be ], sos miles, the United States Gov
eminent issues its Six per cent. Thirtyyear bonds
to the Company the road is finished at the av-
erage rate of about SOS, ESQ per mile, amounting
to $44, eos, 900.
The Company is also permitted to issue its own
First Mortgage Bonds to 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.
The Government makes a donation of 1880
acres of land to the mile amounting to 20 O32 600
acres, estimated to be worth $50 600 600, making
the total resources, exclusive of the capital SlS
10000; but the full value of the lands cannot
now be realized.
The authorized Capital Stock Of the Company
is one hundred million dollars, of which FIVE mil
lions have already been paid in, and of which it
is not supposed that more than twenty-five mil
lions at most viii 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.
Tbo ro;,rooa oorrao.;or b1,vu.., C.~.l. -,
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 $1I3, 900. These
sectional earnings the road progresses will
much more than pay the interest the Comps-
ny's bonds, and the through business over the
ly line of railroad between the Atlantic and Pa
| cifc 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 additional proof
| they would suggest that the Bonds now offered
| are less than ten million dollars on SIT miles Of
| road on which over twenty million dollars have
already been expended on $50 miles of this
road the now running, and the remaining
| Is7 miles arc nearly completed.
| At the present rate of premium on gold these
| bonds pay an annual interest on the present cost
| of
Mine Per Cent,
and it is believed that on the completion of the
road, like the Government Bonds, they will 60
above par The Company intend to sell but 3
limited amount at the present low rate and retain
he right to advance the price at their option.
| Subscriptions will be received in New York by
| the
CONTINENTAL NATIONAL BANK, No. IL Nassau
| Street,
CLARE, DoDGE & Co., BANKERS, 81 Wall ST.
JOHN J. Cisco q Son, BANNERS, No. 33 Wall
Street, -
| 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 Company's
Office No. 20 Nassau Street, New York, on appli-
cation. 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. -aa -as g
JOHN =. CISCO,
TREASURER.
10 -e NEW XoRX.
may30dw3m.