Bloomsburg democrat. [volume] (Bloomsburg, Pa.) 1867-1869, 1867-06-12
be rendered to the Government during that

iiaiu uilnoSt NoltuIcs3. ~ lS uOHdtloH Oi
every alternate section for 20 miles on each !
side Of the road, or l2,s00 acres per mile,
and amounts to 70, ,032, 900 acres, assuming |
the distance from Omaha to the California |
State line to be 1865 miles. Much of this
land, especially in the Valley of the Great
Platte, il rich alluvium, and is considered |
equal to any in the world for agricultural
purposes. Hon. II. d. Mansfield, the
learned Commissioner Of Statistics for the
State Of Ohio, estimates that at least 9,4OO,-
900 acres will be available to the Company
within moderate length of time, and that
it is far within bounds 10 estimate this entire
grant at 81 so an acre, or $4,000, ,000-
The Illinois Central has realized more than
four times this sum for similar grant.
REHABILITATION OF MEANS EoR 1865
MILES.
q. s. Bonds, equal to money!. s44, POS, 900
First Mortgage Bonds, ........... "A, ,20s, 200
Land grant, ~, 032, 900 acres, say. 10000, 900
$llo,4l6,O0O
equal to cost of nearly e76,0 900 per mile,
which is believed to be liberal estimate.
This does not take into the account the
value Of the right Of way and material, the
stock subscription paid in or to be paid in
the future, or the present discount at which
the bonds are offered, us they are expected
soon to be at par.
The interest on the Bonds is more than
provided for by the net earnings Of the vari-
Gus sections Of the road, as they are compile.
ted. On the 305 miles on which the cars
are now running west from Omaha, the re-
ceipts for the first two weeks in May were
$4,000; and as the road is extended to-
wards the great mining centres the bust
ness in freight and passengers constantly
increases-and as there can be no competi.
tion from rival roads, the company has full
power to charge remunerative prices.*
PRospECrs FOR FUTURE BUSINESS.
1t needs no argument to show that the
traffic Of the only railroad connecting the
Atlantic and Pacific, and passing through
the great mining region, must be immense.
Although our annual product of the
prescious metals is now officially estimated
at l0O,0O per annum, vastly greater sum
Will be obtained rs soon as the Union Pacif-
ic Railroad opens the way to the golden
regions Of the Rocky Mountains. Now, the
difficulties and cost of communication are so
great, that none but the very richest veins
can be worked; but with cheap transporta-
ton, hundreds Of thousands OF hardy miners
will successfully develop other mines, that,
with less costly working, will be even more
profitable than the average now in operation
and the business of this constantly increasing
mining interest must pass over this road.
The record Of our shipping Offices show
that not less than $4,000 passengers now
annually travel by sea between the Atlantic
ports and San Francisco and these reckon
ed at So each t8bout one half of the steam
er price, would produce a revenue Of ST.
| 500,UD0.
The overland travel is even greater. In
a single year, t,ccnty-sevcp thousand teams,
comprising number of emigrants and trav-
elers, departed from two points only on the
Missouri River on their westward journey.
If the truth of this statement was not
familiar to all frontier s-men, it might well
be questioned But, estimating the over
land through travel at the same figures as
that by steamer, aud we have Sl5,O00 900
as the minimum estimate on the same num-
ber of passengers. But the facilities for
cheap and rapid transit furnished by railroad
| always vastly increases the amount of travel
with the same population. The difference
between the numbers who would take an
ocean steamer or prairie wagon and a
modern palace car with its luxurious state
rooms, where the travelor eats and sleeps
almost as comfortably as at home may be as
great as the difference between the numbers
who were .ioltedover the mountains in an
old fashioned stage-coach and those in an
Express train between any two great cities.
| Then is it not safe to say tnat this through
travel will be at once doubled on the COM
pletion OF the road in 1870, and, with the
rapid increase Of Pacific Coast population in
the next few years, more than quadrupled ?
Is it at all extravigant to assert that the
| through passenger business during the first
year after the first train of cars runs FROM
Omaha in Nebraska to Sacramento, will be
worth twenty-five million dollars2 When
to this we add half as much more for its
tcay passenger business, and more than as
much more tha nboth for its freight, express
and mails, ETC., are there not the best rea.
sons in the world for believing that the
Union Pacific Railroad will be the mos.
profitable as well as one of the grandes,
works of modern times.
THE SECURITY AND VALUE OF ITS BoNDs
We have made these calculations that the
public may have some brief data Of fact:
from which to form their estimate of the
value of the Union Pacific Railroad Compa.
ny's First Mortage Bonds. Besides, mer
Of the greatest railroad experience in the
country have shown their confidence in thu
stock by liberal subscriptions, and this
stock must be subordinate to all other claims
But there are stronger poots Of the security
and value Of the First Mortgage than any
We have named
|. That for the safety Of the country al
we'll as national economy the road is indis
pensable w.
2. That by an investment of about fift.
millions in Second Mortgage ON the road
the Government practically guarantees tn,
principal and interest on the first Mortgage
The Company now offer limited amouW
of its First Mortgage Bonds, bearing eli
per cent. interest, payable semi.annnuall.
in coin, at ninety per cent. This interest
at the current rate Of premium on gold i
! equal to nine per cent per annum on tn
price for which they are now offered Tit
Company expects to sell but small amour
! at this rate, when the price will be raised
and like all similar bonds they will fnall,
rise to a premium above their par value. =
The subscribers to this loan will not onl.
have the advantages of very liberal interes
and very safe security, but will also have tn
satisfaction of having assisted in the con
J struction of tho greatest national work o
the country .i.., b