Orleans independent standard. [volume] (Irasburgh, Vt.) 1856-1871, 1867-06-14

~ vi n n ~ " y ~ ~ y n ~,
westward towards the Pacific Ocean, making with |
its connections an unbroken line
ACROSS THE CONTINENT.
The Company now offer a limited amount of
their
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,
AT
Ninety Cents on the Dollar.
This road was completed from Omaha 3O5
miles west on the LIST of January, 1867, and is
fully equipped, and trains are regularly running
over it. The Company has now on hand sufficient
iron, ties, etc., to finish the remaining portion
to the eastern base of the Rocky Mountains, 2l2
miles, which is under contract to be done Sep
TENDER lst of this year, and it is expected that
the entire road will be in running order from
Omaha to its western connection with the Gen.
tral Pacific, now being rapidly built eastward
from Sacramento, CAL. during 1870.
Means of the Company.
Estimating the distance to be built by the
Union Pacific to be 1855 miles, the United States
Government issues its Six per cent. Thirty year
Bonds to the Company as the road is finished at
the average rate of about $2S,250 per mile,
amounting to s44, 20S,0O0.
The Company is also permittedto issue its own
First Mortgage Bonds to an equal amount, and
at the same time, which by special Act of Con-
gress are made First Mortgage on the entire
line, the bonds of the United States being sub
ordinate to them.
The Government makes donation of IL, 800
acres of land to the mile amounting to 2O,0 900
acres, estimated to be worth $30, OOO, 0O0 making
the total resources, exclusive of the capital,
$ll8, 4l6,O0O; but the full value of the lands
cannot now be realized.
The authorized Capital Stock CT 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 competent
engineers to be about one hundred million dol
lars, exclusive of equipment.
Prospects for Business.
The Railroad connection between Omaha and
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 $4,000. These
sectional earnings as the road progresses will
much more than pay the interest on the Com
pany's bonds, and the through business over the
whole line of railroad between the Atlantic and
Pacific 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 as 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 cars are now running, and the remain.
ing 1877 miles are nearly completed.
| At the present rate of premium on Gold these
Bonds pay an annual interest on the present cos
| of
Nine Per Cent.
and it is believed that on the completion of the
road, like the Government Bonds they will g
above par. The Company intend to sell but
limited amount at the present low rate, and re
tain the right to advance the price at their option
Subscriptions will be received in New Yorl
by the
: CONTINENTAL NATL BANK, No. Nassau st.
CLARK, DODGE & Co., BANKERS, 81 Wall St
JNo J. Cisco & Son, BANKERS, No. 80 Wall St
and by BANKS AND BANKERS general,
throughout the United States, of whom map
and descriptive pamphlets may be Obtained
They will also be sent by mail from the Com
panys Office, No. 20 Nassau Street, New York
on application. Subscribers will select their owl
Agents in whom they have confidence, who alon
will be responsible to them for the safe delivery
the bonds.
JOHN j. CISCO,
Treasurer,
G 23m3 NEW YORK.