Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1868-02-07
525 MILES
oF rHE
U MON PACIFIC RAILROAD
RUNNING WEST FROM OMAHA
ACROSS THE CONTINENT
ARE NOW COMPLETED.
525 $
oy rag

This brings The line to the eastern base Of tbo
Rocky Mountains, and it expected that the t,,eE
will be laid thirty miles further, 70 Evans Pas.
the higheet point on the road, by January. Tbo
maximum grade from the foot Of the roountair, >,
the sumit is but eighty feet to the mile. vbn.
that Of many eastern roads is over one hund,.d
Work on the roek-eutting on the western .l,,.
VIII continue through the winter, and thsre is no,
no reason to doubt that the entire grand line 70 Tho
Pacific win be open fsr business in 1870
The means provided for the construction of,t;-
Great National Work are ample. The 1-ni.st
States grants its Six per cent Bonds At tho -.
Of from $4,000 to $4,000 per mile. for wbi.b 4,
takes second tisH as security, ana receives nav
ment to large If not to the full extent Of il.
claim in services. These Bonds arc issued .,
each twenty ymile section is fnishad, and after Il
has been examined by the United States Con,
missioners and pronounced to be in ali respsrts
hrst-class road, thoroughly supplied With depo.s
repairshoPs, stations, and all the necessary rolling
stock and other equipments.
The United States also makes donation os
1880 acres Of land to the mile which win h.
source Of large revenue to the Company Much Of
this land in the Platte Valley is among the uo.t
fertile in the world aud other large portions are
covered with heavy pine forests and abound in
ccal Of the best quality.
The Company is alse authorized TO iussvs il.
own First Mortgage Bonds to an amount equal u
the issue Of the Government and no more. Hon.
Z. D. Morgan and Hon. oakes Ames are Trustees
for the Bond-holders and deliver the Bonds 70 III.
Company only the work progresses, 50 that
they always represent an actual and produetiv.
value.
The authorized capital Of the Company is One
Hundred Million Dollars, Of which over Eve mil
lions have been paid in upon the work already
done.
EARNINGS OF THE COMPANY.
At present, the profits Of the Company are de-
rived only from its local traffic, bat tisis already
much more than sufficient 70 pay the interests on
all the Bonds the Company can issue, if not an
other mile we're built. Il is net doubted that
when the road is completed the through trafHe Of
the only line connecting The Atlantic and Pacific
States viii be large beyond precedent. and, as
there vii be 10 competition, II ean always be done
at profitable rates.
Il viii be noticed thai the Union Paeime Rail
road is, in fact, a Government ForE. built upder
the supervision Of Government money. and that
its bonds are issued under Government directors.
It is believed that no similar security is 50 Gaze
fully guarded, and certainly no other is based
upon large or more valuable property As the
Company's
FIRST MORTGAGE BONDS,
are offered for the present at 20 CENTS oNTHR
DOLLAR, they are the cheapest security in tn.
market, being more than fifteen per cent. lower
than Q. s Stocks. They pay
SIX PER CENT. IN GOLD,
or over NINE PER CENT. upon the Investment
Subscriptions win be received in Bedford BY
RUPP AND SHANNON, and in New York =.
the Companya Office, No 20 Nassau street. and
by CONTINENTAL NATIONAL BANK. Va. :
Nassau street, CLARK, DODGE 4 CO., Bankers.
No. 81 Wall street, JOHN J. CISCO & son,
Bankers, Ne 80 Wall street, aud By the Compa-
ny's advertised Agents throughout the United
States. Remittanees should be made in drafts or
other funds par in New York, and the bonds viii
be sent free Of charge by return express. Parties
subscribing through local agents, viii look to
them for their safe delivery.
NEW PAMPHLET AND MAP, showing the
Progress Of the W ork, Resources for Construction
and Value of Bonds, may be obtained at the
COmPanys Offices or Of its advertised Agents, or
viii be sent free on application.
JOHN ]. CISCO, Treasurer, New York.
November %, 1857.