The Union and journal. [volume] (Biddeford, Me.) 1858-1882, 1867-07-19
NINETY CENTS ON TIE DOLLAR.

NINETY CENTS ON TIE DOLLAR p,
This road was completed from Omaha Dos miles
west on the LIST OF January, 1867, and 10 ully
equipped, and trains 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, 2i2 miles,
which 10 under contract 10 DO done September lst
OF this year, and II is expected that the entire road
will be In running order nom Omaha TO Its western
connection with the Central Pacific, now being
rapidly built eastward from Sacramento, Cal, dur
Ing 1870.
Estimating the distance TO be built by the Union
Pacinc TO 10 SOS miles, the United States aovsrn-
ment issues It's Six per cent. Thrty.year Bonds 10
tho Company % the road ID finished ut the average
rsss Of about t2s $50 per mile, amounting to
$ii.205OoO.
Tho Company 10 also permitted TO issue Its own
First Mortgage Bonds to an equal amount, and at
tho samo time, whice by special ACT OF Congress
are made First Mortgage on tho entire line. tho
bonds OF tho United States subordinate to tAsr.
The Government makes donation Of 1850
acres Of land 10 tho mile, amounting to 9o'os2oOO
acres, estimated to DO worth 900, making
the total resources, exclusive OF tho capital slis
now DO realised.
The authorised Capital Stock Of no Company
is one hundred million dollars, Of which i've mil.
lions have already been paid 10, and Of which IL
Ia not supposed that more than ,twsnty'hvs MIL
lions at most will DO required.
Tho cost Of the road y sstinsted by competent
engineers 70 be about one hundred million dollars.
exclusive Of equipment
Prospects fer Bssisess.
Tho railroad connection between Omaha and the
East Is now complete, and the earnings o. the
Union Pacific on the sections already hnished for
the arst two weeks In May were $4,000. These
sectional earnings. as the road progresses, will
much more thon pay the interest on tho Com.
panys bonds, aud the through business over the
only limo OF railroad between the Atlantic and
Pacific must 10 immense . -.fts g. -u
YaIuo aud SccuPity OF the Bends.
The Company respectfully submit that tho
above statement Of facts FULLY demonstrates the
security OF their Bonds, and - additional proof
they would suggest that the Bonds now offered
arc less than ten million dollars on 5l7 miles Of
road, ON which over twenty million dollars have
already been expended ION $50 miles Of this
road the cars are now running. and tho remaining
1877 miles are nearly completed.
At the present rate Of premium on gold these
bonds pay an annual interest on The present cost OF
Niss Per Cent,
and Il 10 believed that on the completion or tho
road, like the Government Bonds, they will 20
above par. The Company intend 10 soil bat .
limited amount at the present Low rate and retain
tho right 10 advance the price ut their option.
Subscriptions will DO received In New York by
tho
CONTINENTAL NATIONAL BANK, No. Nassau g.,
CLARK, DoDGE q Co., BANKERS, 81 Wall st.,
yoHS J. Cisco 4 SoN, bankers. No. u Wall st.,
and by BANKS AND BANKERS generally
throughout the United Dtates, OF whom maps and
descriptive pamphlets may DO obtained. rhsy
will also be sent by mall from the Compsnys
once, No. % Nassau Street, New York, on sppli.
cation. Subscribers will select their own agents
In whom they have confidence, who alone will DO
responsible 70 them Cor the safs dslvsry Of the
~ JOHN J. CISCO, Treasurer,
is3m25 NEW YoRK.