Orleans independent standard. [volume] (Irasburgh, Vt.) 1856-1871, 1867-06-07
T H E

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, 90
miles, which is under contract to be done Sep
TENDER 1st of this year, and it is expected that
the entire road will be in running order from
Omaha to its western connection with the Cen
trail 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, $50 per mile
amounting to S44, 2OS,OOO.
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 Con-
gress are made First Mortgage on the entire
line, the bonds of the United States BEING sub
ordinate to them.
The Government makes a donation of Il, 800
acres of land to the mile amounting to 20 O32 900
acres, estimated to be worth $50 900. 900, making
the total resources, exclusive of the capital,
$llS, 416, 900 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 proc
they would suggest that the Bonds now Offered
are less than ten million dollars on SIT 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 1877 miles are nearly completed.
At the present rate of premium on Gold thest
Bonds pay an annual interest on the present COS
of
Nine Per Cent.
and it is believed that on the completion of tn
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
pany's Office, No. 90 Nassau Street, New York
on application. Subscribers will select their ow
Agents in whom they have confidence who alon
will be responsible to them for the safe delivery c
| the bonds.
JOHN j. CISCO.
Treasurer,
23m3 NEW YORK.