The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1867-08-07
SIX PER CENT. In GOLD

west on the lst Of January, 1857, and j. faDy
equipped, and trains are regularly running
over IL. The Company has now GU hand
sufficient iron, ties, etc., to finish the remain
ing portion to The eastern base Of the Rocky
Mountains. 212 miles, which is under CON.
tract TO be done September LIST Of this ', ear
and IL 10 expected that the entire road Eillbe
ain running order from Omaha To lis western
connection with the Western Pacific. now
being rapidly built east ward from Sacrament
to, 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 ms. the
road is flushed ct the average rate Of shout
S28 $50 per mile. amounting 10 4 4,20sOOO.
The Company is also permitted TO issue its
own First Mortgage Bonds to an equal
amount, and at the same time, which by she.
cial Act Of Congress are made q FiistMort-
gage on the entire. line, the bonds Of he Uni-
ted States being subordinate tothem.
The Government makes o donation ofSI2.,
800 acres Of land to the mile, amounting To
20,OS2. 900 acres. estimated 10 be worth $780,.
O0) 900, making the total resources, exclu-
siye Of the capital, S1l8,4i6, COO; but the full
value of the lands can not now be realized.
The authorized Capital Stock Of The Com.
pany is one hundred million dollars. OF
which FIVE millions have already been paid In.
and of which 1t is not supposed that moro
thar twenty-five millions at most will be re-
quired.
The cost of the road is estimated by CON-
petent engineers to be about one hundred
million dollars, exclusive o~fequipment.
Prospects for Business.
The railroad connection between Omaha
and the East is now complete, and the earn
ings of the Union Pacific on the sections al.
ready finished for the first two weeksin Nav
were $ll3,C00. These sectional sarnines
as the read progresses will much more than
pay the interest on the Ocmpany's bonds, and
the through business oyersthe only line ~
railroad between the Atlantic AMI Pacifjo
must be immense. w MTW
Value and Security ofthe Bonds!A
The Company respectfully submit the abova
statement Of facts fully demonstrates The al.
curity oftheir Bonds, and as additional proof
they would suggest that the Bonds now offer.
ed 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 1877 miles ore nearly com.
pleted. .sT-
At the present rate of premiums on gold
these bonds pay an annual interest on the
present cost Of GN
Nine per Cent,
and il is believed that on the completion Of
the road, like the Governm ent Bonds, thew
will go above par. The Company intend to
sell but o limited amount ct the present low
rate, and retain theright tv advance the price
at their option.
subscriptions will be received in New York
by the
CONTINENTAL NAT. BANK, No. Z Nassau
CLARK, DoDoE & Go, BAsKEns, 5TpWrb
John J. CISCO q SoN, bankers No. 40
Wall ST.,
and by BANKS AND BANKERS roanerarlv
throughout the United States, Of whom maps
and descriptive pamphlets may be obtained.
They will also be sent by mail from the Com.
pany's Office, No. 20 Nassau Street, New
York, on application. Subscribers win lsssf
lect their own Agents in whom they have
confidence, who alone will be responsible To
hem for the safe delivery Of the bonds.
JOHN ]. CISCO,
Treasurer,
NEW YORK
3m.bl. 11firA