The Waynesburg Republican. [volume] (Waynesburg, Pa.) 1867-18??, 1868-05-06
aNistellaiitous.
THE UNION PACIFIC z
RAILROAD COMPANY
OFFER A LIMITEp-AMoUNT OF. THEIR
FIRST MORTGAGE BONDS
AT PAR,
.-vs- --ss .-'-sf -fsy -,
PAY Bill T. l N G Oh ID.

The Great Pacific Railroad Line, extending
l72l miles from OMAHA ou the Missouri river, to
the tde-waters of the Pacific Ocean, Is being
built by two powerful Companies-The UNION
Pacific. beginning at Omaha, building West.
and the Central Pacific Of California. beginning
at Sacramento, building East, until the two
roads shall meet
Both Companies have prosecuted the work
with great vlgor, the Union Pacific having al
ready expended over
THIRTY MILLION DOLLARS, 1s
and the Central over TWENTY MILLIONS, upon
their respective parts of the undertaking. The
Union Pacific have completed $50 miles -have
ron and other materials for two hundred miles
more upon the ground, and one hundred addi-
tional miles are ready for the track. They will
have a much larger force employed this year
than ever before, and 1t is expected that between
500 AND 900 MILES
will be In operation during lS6s There seems 20
be no reasonable doubt that the distance be-
tween Omaha and Sacramento will be traversed
by rail in 1870. ,
THE GOVERNMENT GRANTS Il, 800 acres 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 the first mort
gage Bonds now offered for sale, to the same
amount and no more. The Government taxed
a SECOND lien, and gives to the First Mortgage
Bond-holders prior lien for their security, TO
which q large paid-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 o
real property, CO..
1t is universally admitted that on tho com.
pletlon ofthe Union Pacific Railroad, Its through
business will make II one of the most profitable
In the word-but Its WAY or LOCAL business Ia
already several times the interest on Its bonds:
so that, If not another mile were built, they
would be a secnre investment. ..., ,
THE NET EARNINGS for eight months Of
last year on average Of $50 miles are officially
reported at 81 Oe9 1856, while the interest on all
the Bonds II could issue on that length Of road
for that time, reduced to currency, was only
s3i5,s56.
The amount paid by the Government for tho
transportation of troops, munitions, stores and
mails has been, and doubtless will continue to
be much more than the interest on the United
States Second Mortgage Bonds. fit Is not tho
charter provides that after the road Is compile
ted, and until said bonds and interest are paid.
at least five per cent. of the net earnings Of the
road shall be applied to such payment. ,
The Union Pacific Bonds are for 81 0oo
each and have coupons attached. They have
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 New
York at the rate Of six per cent. in gold. Tho
Principal is payable in gold at maturity. At
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 A PREMIUM.
The Company have but very limited supply
of their Bonds remaining on hand, butany sub.
scriptions accepted to a 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 a rate above par at
any time, and will not fill any orders or receive
any subscriptions on which the money has not
been actually paid at the Companys Office be-
fore the time of such advance.
Parties subscribing will remit the par value OF
the bonds and the accrued interest In currency
ut the rate of six per cent. per annum, from the
| uHte on WHICH tilt iuSb coupoh WaS P"u. ouo-
| criptiois will be received in Waynesburg, Pa,
BY THEFIRSr NATIONAL BANK.
In New York o"
ATTHE CoAIPANY's OFFICE, 20 Nassau St.
and by
JOHN J. CISCO & son, Bankers. 50 Wall 81.
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 the Bonds VIII be
sent free of charge ny return express. Parties
subscribing through focal agents, will 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 advertise
ment, respecting the progress Of the work, the
resources Of the country traverscd by the Road,
the means for construction, and the value Of the
bonds, which will be sent free on application at
at tho Company's Offices or to any of the adver-
tiscd agents.
JOHN J. CISCO, Treasurer, New York.
mp 2o,'6s-3rh