Litchfield enquirer., 1867-11-28
5 9 Q PA I L E $
 OF1HE Union Pacific Railroad, Running West from Omaha ACROSS THE CONTINENT :,
ARE NOW COMPLEI ED.


 months than was ever built by any other com pany in the same time, and they will continue the work with the same energy until it is completed. The Western Division is being pusAed rapidly eastward from Sacramento by :he Central P,ciic Company of California, and it is expected that
 TIEE ENTIRE GRAND LINE to the Pacific will be open for business in 187 c More than one-third of the work has already been done, ore than one-third of the wlol c line is TOW i'll running order, and more labor CTS are now employed upon it than ever before. More than
 Forty Million Dollars in Money have already been expended by the two power ful companies that have undertaken the en- terpTise, and there is no lack of funds for it's mdst vigorous prosecution. When the United States Government found it necessary to se- cure construction fthe Union Pacific Railroad to develop and protect its own interests, it gave the Companies authorized to build it sue Ii ample aid as should should render its speedy completion beyond doubt. The available means of the Union Pacific Railroad Company derived from the Government and it's own Stockholders may be briefly summed up IS follows:
 l.--Unitesl States Bonds. Having thilty years to.run and bearing six per cent. currency interest at the rate of of S6000 per mile for 5l7 miles on the Plains; then at the rate of S4SO0O Der mile for 150 miles through, the Rocky Mountains; then at the rate of S32,O00 per mile for the rem aiming dis tance, for which the United State takes sec ond lien as security. The interest On these bonds is paid by the United States government which also pays the company one-haf the amount ofits bills in money for transporting ityfr ainht ,hn half Of these bills placed to the company s credit and forns asinking fund which may fnally discharge the whole amount of the lien The claims against government since Apr of the current year amount to four and a half times this interest.
 2.--Fifst Mortgage Bends.
 By it's charter the Company is permitted o issue it's own First Mortgage Bonds to the me amonnt as the bonds issued by the government and no more, and only as the road progresses. The Trustees for the bondholders are the lien. E. D. Morgan, U. $. Senator from New York, and the Hon. Oakes Ames, Member of U. $, House of Representatives who are responsible for the delivery of these bonds to the Company ia strict accordance with the terms of the law
 :S.--The Land Grant,
 The Union Pacific Railroad Company has a land grant or absolute donation from the gov ciHineIit tl oUO aCTeS tO tilc iullG the llQe oI the road, which will not be worth less than S1 50 per acre at the lowest valuation.
 1.-The Capital Stock.
 The authorized capital of the Union Pacific Railroad Company is $l00, coo 600, of which over S5 100000 have been paid on the work al, eady done.
 TIE MEANS SUFFICIENT TO BUILD THE RCAn.
 Contracts for the entire work of building r>tE f1l~ r.. aha comprising much of the most difficult mountain work, and embracing every expense except surveying, have been made with respon- sible parties who have already finished over 300 milcs,l at the average rate of sixty eight thousand and fitty-eight dollars (68058) per mile, This price includes all necessary shops for construction and repairs of cars, depots stations and all other incidental buildings. 8 Id also locomotives, passenger baggage and freight cars, and other requisite rolling-stock, to an amount that shall not be less than $5 ,O00 per mile. Allowing the cost Of thesremaining one hundred add eighty six of the eleven hundred miles assumed to be built by the Pacific Gem pany to be S90, ,000 per mile. THE TOTAL Cosr OF ELEVEN HUNDRED MILES
 WILL BE AS ruLLoWs 94 miles, at S68, ,058 $62 205 ,Ol2 lS6 miles, at S90, 900. ......... 16,140 900 Add discounts on bonds, surveys, Sc. 4,500, O00
 Amount. ........... .$S6 Al 5,Ol3 As the U. $. Bonds equal to money, and the company own First Mortgage Bonds have a ready market, we have as tho CASH RESOURCES FOR BUILDING ELEVEN
 HUNDRED MILES: g $. Bonds .:.................,s s29 1928, GOO First Mortgage Bonds. ............... % 328, coo Capital stool. paid in on the work now
 done. .................... ,36S, 7jO Land Grant, 14,00 COO acres at s1 per
 acfe...... ............... ........... 2l, ,l2O, ,OOO
 Total. .........................$ .$35, ,145 75O The company have ample facilities for supplying any deficiency that may arise in means for con- struction. This may be done wholly or in part by additional subscriptions to capital stock Active inquiry has already been made for DOT ton or these lands, and arrangements are now pro- posed to offer part of them for sale. While their whole value will not be available for some years to come, they will remain very important source of revenue to the company. The lands of the Illinois Central Railroad Co.,, arc selling at from $6 to SIP per acre, and other land-grant companies ill the West are receiving equal prices for similar proper tles
 FUTURE BUSINESS, The most skeptical have never expressed doubt that when the Union Pacific Railroad is finished the immense business that must flow over it. as the on- ly railroad connecting the two grand divisions of the North American continent, will be one of the wonders CT falIWaV transportation, and as 1t Will have no competitor it can always charge rcnumer ative rates.
 FROM WAY BUSINESS. During the quarter ending July 31, an average of 325 miles of the Union Pacific Railroad was in op eration. The superintendent's Report shows the result
 EARNINGS.
 Passengers, Freights, Telegraph and , Malls ......::..-..; $I22, io3 o4 of Contractors Materials
 ana Men. .............-......... 4io, 2S3 il
 Total S1. .2O3 OBS 95
 EXPENSES.
 Fuel, Repairs Offices, Conductors, Trains
 &c.: .......... ...................... S395, ,530 92 Net Earnings to balance ............. 6O7, ,508 O8 The net operating expenses on the commercial business for the quarter s237, ,966 50. The account for the commercial business stands as fol- Iows:
 Earnings for May, June and July, .s72s 76554 Expenses '' '' .... 237,955 50
 Net Profit t.......................$ $485, 789 04 The amount of Bonds the Company can issue on 325 miles, at 5000 per mile, is s, 100000. Inter- est in gold three months. at per cent on this sum- is SIS, 900: add 40 per cent, premium to cor respond with currency earnings, is Sl09 200-show- ing that the net earnings for this quarter were more than four times the interest on the First Mortgage Bonds on this length of road.
 First Mortgage Bonds. whose nrinciha1 iS 7,rov;do5 fo, aaa