The Waynesburg Republican. [volume] (Waynesburg, Pa.) 1867-18??, 1868-05-27
alistrllanrous.
NHE UNION PACIFIC
RAILROAD COMPANY
OFFER LIMITED AMOUNT OF. TiEtR
FIRST MORTGAGE BONDS
AT PAR,
PAY A BILE IN COL d.

The Great PacInc Railroad Line, extending
l72l miles from Omaha on the Missouririver, TO
the tide-waters Of the Pacific Ocean, Is boing
built by two powerful Companies--The USIoN
PACIFIC beginning at Omaha, building West.
and the Central Pacific of California, beginning
at Sacramento, building East, until tho two
roads shall meet.
Both Companies have prosecuted the work
with great vigor, tho Union Pacific having ul.
ready expended over
THIRTY MILLION DOLLARS,
and tho Central over TWENTY MILLIONS, upon
their respective parts of the undertaking. The
Union Pacific have completed $50 miles-hhve
ron and other materials for two hundred miles
more upon the ground, and one hundred addi'
tional miles ore ready for the track. They Will
have much larger force employed this year
than ever before, and lit is expected that between
500 AND 900 MILES
will be In operation during 1868. There seems to
be no reasonable doubt that tho distance be-
tween Omaha and Sacramento will be traversed
by rail In 1870.
THE GOVERNMENT GRANTS 1880 ncres Of
land, and Its Bonds TO the average amount Of
s2S 900 per mile to aid In the construction Of the
line, and authorises the issue OF tho first mort
gage Bonds now offered for sale, 10 the sam0
amount and no more. The Government takes
sECoSb Hen. aiid gives to the First Mortgage
Bond.holdors prior lien for their security, to
which u largo pald-up capital is added. The
Bonds cannot be Issued except rs each section
of twenty miles Is accepted by Government
commission. so that they always represent .
real property.
II is universally admitted that on tho conf
pletlon ofthe Union PGchc Railroad, its through
business will make II one Of the most profitable
In the world-but Its WAY or LOCAL business II
already several times the interest on its bonds;
so that II not another mile were built, they
would be a secnre Investment.
THE NET EARNINGS for eight months of
last year on nm average 3s8 miles are officially
reported Mt 81 0G9, 1886, while the interest on all
the Bonds 1t could issue on that length Of road
for that time, reduced to currency, was only
sSf5,s58.
The amount paid by the Government for tho
transportation Of troops, munitions, stores and
III mails has been, and doubtless will continue to
be much more than the Interest on tho United
States Second Mortgage Bonds. II Is not, tho
charter provides that after the road Is complo.
ted, and until said bonds and interest are paid,
at least five per cent. Of the net earnings Of tho
rond shall be applied to such payment
The Union Pacific Bonds arc for 81, 900
cnch and have coupons attached. They havo
thirty years TO run, and bear annual inter-
est payable on the first days Of January and
July at the Company's Office In the City Of Now
York. Mt the rate OF six per cent in gold. The
Principal Is payable In gold at maturity. A.
the present rate Of gold, these bonds pay an an
nual income on their cost OF
NEARLY NINE PER CENT,
AND 1T IS BELIEVED THAT THEY WILL
SOON BE AT PREMIUM.
The Company have buta very limited supply
OF their Bonds remaining on hand, but any sub
scriptions accepted to greater amount than
can be filled from Bonds now In the Company's
possession, will be supplied from the New
Bonds to be issued on that portion Of the road
completed In the Spring, in the order In which
they are received.
The Company reserve tho right TO advance
the price Of their bonds to ratio above par ii
any time, and will not MI any orders or receive
any subscriptions on which tho money has not
been actually paid at the Company's offioe be-
fore the time of such advance.
Parties subscribing will remit the par value of
the bonds and the accrued interest In currency
at the rate of six per cent. per annum, from tho
date on which the last coupon was paid. Sub.
crptions will be received In Waynesburg, Pa,
By EFIRST NATIONAL BANK.
In New York
AT THE CoMPANY's OFFICE, 20 Nassau st.
md by
JOHN ]. CISCO & son, Bankets, 50 Wall st.
And by the Company's Advertising Agents
throughout the United States.
Remlttences should be had In drafts or other
funds par In New York, and tho Bonds will bS
sent free of charge by return express. Parties
subscribing through local agents, will look 10
them for their safe delivery
A PAMPHLET AND MAP for 1853 has jsss
been published by the Company, giving fIllor
Information than Is possible in an advertise.
ment, respecting the progress Of tho work, the
resources the country traversed by the Road.
the means for construction and the valte Of tho
bonds, which will be sent free on application at
at the Company's offices or to any Of the adves.
tised agents.
JOHN j. CISCO, Treasurer, New York.
ap %, '6S-3m