Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1868-09-16
UNION PACIFIC RAILROAD

Are now finished and In operation Although this road
isbut with great rapidy ,he work Is thoroughly done
and il pronounced by the United states Commissioner
be arscass in every respect before 3, il accepted and
before any honda can be Issued upon H.
Rapidly and excellence Of construction have been %
cured by complete division Of labor and by ds,ribut
Ing the twenty thousand men employed along the lin.
for long distances at once. It probable that tho
Whole Line 10 The Pacific oH be completed
in 1869.
The Company have ample means Of which the Govern.
ment grants the right Of way and all nese my timber
and other materials found along tho line Of IL opera
uons also 1850 Of land 10 the mile taken In al
ternate sections each side Of Its road also United
states fhrtyyear Bonds amounting to from $1,000 TO
s-oo per mile, according the difficulties 10 he sur
mounted the various sections to be built for which 10
takes second mortgage security, and It IL expected
that not only the interest but the principal amount
may be paid in services rendered by tho Company In
transporting troops mails, sc.
THE EARNINGS OF THE UNION PACIFIC RAIL
ROAD, nom s Way or Local Business only during tho
year ending June Both, 1868, amounted to over
FOUR MILLION DOLLARS,
which, after paying all expenses was much more than
sufficient 10 pay the interest upon ts Bonds These earn
lngs indication Of the vast through truae that
must follow the opening Of the line to the Pacific, hut
they certainly prove that
FIRST MORTGAGE bonds
nuon sp.h n ,r..,...t. 49,. - A.. ,t- Al, -,
dno,mi Are raise,y Secure.
The Union Pacific Bonds thirty years are for u 900
each and have coupons attached They bear annual In
tere payable the first days Of January and July at
the Company 0aoe in the City Of New York at the ratio
Of Fix per cent in gold. The principal is payable In
gold at maturity Tho price l02, and at the present
rate Of gold, they pay liberal Income on theircost.
Avery important consideration in determining tho
value Of these bonds me length Of Tin, thew han, TO run.
IL iswcll-kuown that long bond always commands a
much higher price than short one 1t safe to assume
that during tho thirty years. the rate Of interest in
the United states will decline has done in Europe
and have right to expect that such six per cent. SO
eurlties as these will be held high premium as
those of this Government which, 1885, were housh, in
at from 20 to % per cent above par The export demand
alone may produce this result and as the issue Of pr
corporation, they beyond the reach Of political
action.
The Company believe that their Bonds at the present
rate, the cheapest security the Market and reserve
the right to advance the price at any time
Subscriptions will 10 received in MoSrPxLrER by
MONTPELIER NATIONAL BANK,
and in Now York
A. he company's Office, No. 20 Nassau street,
AND ny
John J. Cisco & Son, Baltsrs, No. 50 Wan street,
And by tho Company's advertised agents
throughout the United States.
Rsn'iiagess should Be made das other nds par Ia
Nsw fors, and e Bonds e b free Of charge BY rsf
Parties subscribing through local agents. w1 TOOK
70 them for their SAFE delivery.
PAMPHLET AND MAP FOR 1868 has just been pub.
shed by the Company giving fuller information than
possible in an advertisement respecting the Progress
the Work. the Resources Country traversed by tho
Road the Means for fructon, and the Value OF tho
Bonds, which Will be sent free on application at thu
Companys Offices or to any Of the advertised agents
JOHN J. CISCO, Treasurer, New York.
August 10 1868. 81 daw