The Portland daily press., 1867-06-14
MISCELLANEOUS.

THE
PACIFIC
RAILROAD co.
Are now constructing Railrc ad from
OMAHA, NEBRASKA,
westward towards the Pacific Ocean, making wit
Its connections an unbroken line
ACROSS THE CONTINENT.
FIRST MORTGAGE BONDS
terest payable on the first day OF january and July,
IN the City OF New York, at the rate CT
Six Per Cent. in Gold,
Ninety Cents on the Dollar.
ihis ROAD was completed from Omaha 301 miles
west on inc ISL oil january, 1907, aud is fully
equipped, and trains are regularly running over it.
The company has now on hand sufhelent iron, tics,
etc., TO finish the remaining portion TO the eastern
base OF the Rocky Mountains, 2l2 miles which Ia
under contract to be done September lst OF this
year. and it is expected that the entiIe road WIN LIE
in running order from Omaha 10 its western connev-
ton with the Central Pacific, bein. rapidly
built eastward from Sacramento Cal, during 1870.
Means Of the Company.
Estimating the distance 10 be built by tho Union
Pacific 10 be 1886 miles, the United Ststos Govern
ment issues its Six per cont. Thirty year bonds to
the Company the road il finished at the average
rate OF about s2s25o per mile, amounting 20 s4i,-
2Os,OOO.
The Company is also permitted to issue its own
| First Mortgage Bonds to equal amount. and at
the same time, which by special ACT of Congress
made First Mortgage ON the entire line the bonds
| of the Unised States being subordinate TO nsm.
The Government makes donation OF IL 600 acres
OF Land 10 the milo, amounting to 20 Os2 900 acres,
estimated to be worth $50, OO0, 0o0 making the
resources exclusive OF the capital, Sis, il5,GoO but
the full value OF the lands cannot now be realized.
| The authorized Capital Stock Of the Company is
one hundred million dollars of which i've millions
have already been paid in, and Of which II Is not
| supposed that more than twenty five millions at
most will be required.
The of the road Is estimated by competent
engineers to be about one hundred miller dollars
| exclusive OF equipment.
- Prospects for Business.
| The railroad connection between Omaha and tie
East is complete, and the earnings of tho Union
Pacific on the sections already finished for sho first
| two weeks in May were $4,000. These sectional
earnings, the road progresses, will much more
than pay tho interest on the Compsny's bonds and
The through business the only 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
their Bombs, and additional proof they would sug-
| sest that the Bonds now offered are less than ten
million dollars on 5t7 miles of road, on which over
twenty million dollars have already been expended;
| ON $50 miles Of this road the runnin z,
and the remaining 1s7 miles are nearly completed
At the present rate of premium gold these
bonds pay an annual interest ON the present cost
Nine Per Cent,
and 1t 10 believed that the completion Of the Ioa
like the Government bonds, they will 90 above par.
The Company intend to sell but limited amount ut
the present low rate and retain the right advance
the price at their option.
| Subscriptions will be received In New York by the
CONTINENTAL NATIONAL BANK, No 7, Nassau st.
CLARK, DopGE & Co., BANKERS, 81 Wall ST.,
JOHN j CISCO s. Son, DANGERS. No. 80, Wall St
and by BANKS AND BANKERS generally
throughout the United States, of whom maps and
descriptive pamphlets may be obtained. They
viii alss be sent by mail from the Company's Office,
No. 20 Nassau street. New York, on application.
Subscribers will select their own Agents In whom
they have confidence, who alone will be responsible.
to them for the safs delivery Of the bonds.
JOHN J. DISCO, Treasurer,
tunosdlswam r1i-, NEW YORK.