Delaware gazette. [volume] (Delaware, Ohio) 1855-1886, 1867-06-21
RAILWAYS.

II n e
UNION PACIFIC
RAIL ROAD co. |
Are now constructing Railroad from
O1EAHA, NEBRASKA,
westward towards the Pacific Ocean, makfog with
its connections an unbroEen line
ACROSS THE CONTINENT.
The Company now offer limited amount or their
FIRST MORTGAGE BONDS
having thirty years to run, and bearing annual in
terest payable on the first day Of January and Jus
y, 10 the City ofEew York, at the rate Of
SIX PER CENT. I'm GOLD
AT
Ninety Gents on the Dollar.
This road was completed from Omaha sos west
the first Of January, 1867, and is fully equipped
and trains arc regularly running over IT. The
Company has new on hand sufficient iron, ties,
etc.. to finish the remaining portion to the east-
ern base or the Rocky Mountains 2l2 miles, which
is under contract to be done September Is Of this
year, and it is expected that the entire road viii
be in running order from Omaha 70 its western
connection with the Central Pacific, now being rap
idly built eastward from Sacramento, California,
during 1870,
Means of the Company.
Estimating the distance to be built by the Union
Pacific to be ,565 miles, the United States Gov
ornment issues its Six per cent. Thirtyyear Bonds
to the Company as the road is finished at the rate
Of about S2s, ,250 per mile. amounting to s44, 2Os,
600,
The Company is also permitted to issue its own
First Mortgage Bonds to ap 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 donation Of 1880
acres Of land TO the mile, amounting to 20 032 600
acres estimated to be worth $50, 600 600, aud ma
king the total resources, exclusive Of capital
SIS Ale, ,OOO but the full value Of the lands
not now be realized.
The authorized Capital Stock of the Company is
one hundred and hfy million dollars, Of which fye
millions have already been paid in, and Of which
it is not supposed that more than twenty i've mil
lions at most will 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.
The railroad connection between Omaha and the
East is now complete, and the earnings OF the I'm,
ion Pacific on the sections already finished Tor the
/ FIRST two weeks in May were $4,000. These sec
/ tionaI earnings as the road progresses will much
more than pay the interest On the Compauy's
bonds and the through business over the only line
| of rail- DAD between the Atlantic and Pacific must
be immense.
Value and Security of the Bonds.
The Company respectfully submit, that the
above statement OF the facts fully demonstrates
! the security Of their Bonds, and additional
proof they would suggest that the Bonds now Of
fered are less than ten million dollars on 5l7 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 remaining
/ 1s7 miles are nearly completed.
] At the present rate .of premium On gold these
] bonds pay annual terest on the present cost
Nine Per Cent.
and it is believed that on the completion Of the
! road ike Government Bonds, they will go bove
| par, The Company intend to sell but a limited
| amount at the present low rates and retain the
right to advance the price at their option.
Subscriptions will be received in New York by
| the
/ CONTINENTAL NATIONAL BANK, No. Nassau ST.,
/ CLARK, DODGE & Co BANKERS, 81 Wall ST.,
| JOHN J. Cisco & SoS, Banners, No. 50 Wall ST.,
| and by BANKS AND BANKERS generally through
| out the United States, Of whom maps and descrip-
/ tive pamphlets may be obtained. They will also
/ be sent by mail from the Company's ONCE No. 20
/ Nassau Street, New York, on application Sub
scribers will select their own Agent in whom they
/ have confidence, and who alone viii be responsi
bic to them for The safe delivery Of the bonds.
JOHN IL CISCO,
Treas 03'e9',
NEW YORK,
June Z, '67-3m.