Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1867-07-04
financial.

financial. euv~-
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Union Pacific
RAILROAD CO.
Are now constructing Rsilroad from
% OMAHA, NEBRAsKA,
Westward towards the Pacinc Ocean, making !
with Its connections an unbrokcn line
Across the Continent.
The Company now offer n limited amount OF
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, 376 miles
West Of Omaha, and is fully equipped, andtrains
are regularly running over IL. The Company
has now ON hand sufficient iron, ties, ETC., to
finish the remaining portion TO the Eastern
base Of the Rocky Mountains, III miles, which
is under contract to be done in September
of this year, and IL is expected that the en-
tire road will be in running order from Omaha
to its Western connection with the Central Pa
cifc, now being rapidly built Eastward from
Sacramento, Cal, during 1870.
Means of the Company.
Estimating the distance to be built by the
| n IN, fhpI Init tad pa
Government issues its Six per cent. Thirty-year
Bonds to the Company as the road is finished at
| the average rate OF about $751; per mile,
amounting to 81, ,20s.OO0.
| The Company is also permitted to issue its
own First Mortgage Bonds to an equal amount
and at the same time, which by special Act Of
Congress are made First Mortgage on the en-
tire line, the bonds of the United states betng
| subordinate 10 them
| The Government makes q donation OF IL 800
acres of land to the mile, amounting to 20 0s2 600
acres, estimated to be worth sSO,OOo,OcO, making
the total resources exclusive of the capital sllS-
4loO 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
millions have already been paid in, and Of which
it 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 h.fH5
| tl Prospects for Business.
The railroad connection between Omaha and
the East Is now complete, and the earnings OF
the Union Pacific OH the sections already finish
ed, for the first two weeks in May were Sll3,OO0
These sectional earnings as the road progresses
will much more than pay the interest on the
Companys bonds, and the through business
over the only line of railroad between the At
lantic and Pacific must be immense. E.fs
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 proc
they would suggest that the Bonds now Offered
are less than ten million dollars on 5l7 miles o
road ON which over twenty million dollars have
already been expended;-on $50 miles of thi'
road the cars are now running, and the remain
: ing lS7 miles are nearly completed t.s
At the present rate Of premium on gold thes,
bonds pay an annual interest on the presen
!, cost of
Nine Per Cent,
and 1t is believed that on the completion of th
road, like the Government Bonds, they will &,
n above par. The Company intend to sell but
I limited amount at the present low rate, and re
tain the right to advance the price at their optio
Subscriptions will be received in New York b,
the -... .....-.
= Continental National Bank, NOT Ndssos st.
CLARK, Dodge & Co., BANKERS, 81 Wal 81.
.Jol,,, J. Cisco d Son. Bankers, No. 33 Val ST.,
!. and by BANKS AND BANKERS general
throughout the United States, of whom map
n and descriptive pamphlets may be obtained
! They will also be sent by mail from the Com
\ ;pany's office, No. 20 Nassau Street, New Yorl
ION application. Subscribers will select thel
k own Agents in whom eyhave confidence, VIII
l. alone will be responsible to them for the sal
, delivery of the bonds.
q JOHN ]. CISCO, Treasurer,
# je6-3m III .7.I ~. New York.