The Baltimore County union. [volume] (Towsontown, Md.) 1865-1909, 1868-10-31
Miscellaneous.
Miscellaneous.
80 D WI II E S
OF THE
UNION PACIFIC RAILROAD

| Are now finished and in operation. Although
this road is built with great rapidity, the work
is thoroughly done, and is pronounced by the
United States Commissioners to be frst-class in
every respect, before it is accepted, and before
any bonds can be issued upon it.
Rapidly and excellence of construction have
been secured by complete division of labor,
and by distributing the twenty thousand men
employed along the line for long distances at
once. 1t is now probable that the
Whole Line to the Pacific will be
Completed in 1859.
The Company have ample means, of which
the Government grants the right of way, and
all necessary timber and other materials found
along the line of its operations also 1880
acres of land to the mile, taken in alternate
sections ON each side of its road also United
States Thirty year Bonds, amounting to from
$4,000 to $4,000 per mile, according to the diff
fculties to be surmounted on the various sec
tions to be built, for which it takes second
mortgage as security, and it is expected that
not only the interest, but the principal amount
may be paid in services rendered by the Com
pony in transporting troops, mails, &c.
THE EARNINGS OF THE UNION PACIF-
&c RAILROAD, from its Way or Local Bust
ness only, during the year ending June 3Oth,
1868, amounted to over
Four Million Dollars.
more than sufficient to pay the interest upon
its Bonds. These earnings no indication of
the vast through traffic that must follow the
opening OF the line to the Pacific, but they
certainly prove that
FIRST MORTGAGE BONDS
upon such property, costing nearly three
times their amount,
ARE ENTIRELY SECURE.
The Union Pacific Bonds run thirty years.
are for 81 900 each, and have coupons attached.
They bear annual interest," payable on the first
days of January and July at the Company's
Office in the City of New York. at the rate Oh
six per cent in gold. The principal is paya
BILE in gold at maturity. The price is lO2 and
and at the present rate of gold, they pay "a lib
eral income on their cost.
A very important consideration IL de;errnin
ing the value of these bonds is tile length OF
time they haze to
1t is we'll known that long bond always
commands much higher price than short
one. 1t is safe to assume that during the next
thirty years, the rate of interest in the United
States will decline as it has done in Europe,
and we have right to expect that such six
per cent. securities as these will be held at as
high a premium as those of this Government.
which, in 1857, were bought in at from 20 to 2s
per cent. above par. The export demand alone
may produce this result, and as the issue OF
private corporation, they are beyond the reach
of political action.
The Company believe that their Bonds, at
the present rate, are the cheapest security in
the market, and the right to advance the price
at any time is reserved.
The price for the present is 1872 and accrued
interest at the rate of six per cent. in currency
from July LIST, and subscriptions will be re-
eeived in Baltimore.
WILLIAM FISHER SONS,
HOOPER, REESE & CO.,
McKIM & CO.,
JOHNSTON BROS. & CO.,
And in New York
At the Company's Office, No. 20 Nassau Street,
ANDB
John J. Cisco & Son, Bankers. No. 80 Wall Street,
And by the Company's advertised agents
throughout the United States.
Ren,ittances should be made in drafts or other
funds par in New York, ana the Bonds aoiH be
sent free Of charge By return cypress Parties
subscribing through local agents. aoiH look to them
for their safe delivery.
A PAMPHLET AND MAP FOR 1868 has
just been published by the Company, giving
fuller information than is possible in an adver-
tisement, respecting the Progress of the Work,
the Resources Of the Country traversed by the
Road, the Means for Construction, and the Val
ue of the Bonds, which will be sent free on ap
plication at the Company's offices or to any of
the advertised agents.
JOHN j. CISCO, Treasurer,
Sant 10 -3m NEW YORK.