Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1868-10-08

Railroads.
ln0 Miles Of the UNION PACI-
DOO fIc RAILROAD arr now finished

WV flO RAILROAD arr nov finished
and In operation. Although this rnad Is built
with great rapdity, the work Is thoroughly done,
and is pronounced by the United states Commis-
sioners To be nrst-elass in every respect before il
Is accepted, and before any bonds can be issued
upon 1t.
Rapidity and excellence OF construction have
been secured by complete division OF labor, and
by distributing the twenty thousand men em-
ployed along the line for long distances at once,
II is now probable that the whole line TO the Pa
eitie viii be completed in 1868,
The Company have ample means Of which the
Government Grants the right Of way, and ali
necessary timber and other materials found along
the line of its operaons also u 500 acres 81 land
10 the mile, taken in alternate sections ON each
side Of its road also United States Thlrty-yeM
Bonds, amounting TO from sl6,O0O 20 $4,000 Per
mile according 20 the difficulties q be- surmouni'
cd on the various sections 10 be built, Tor which
IL takes a second mortgage as security, and Il Ia
expected that not only the interest, but the pItn
eipal amount may be paid in services rendered by
| the Company in Transporting troops, mails, &c
The earnings Of the Union Pacific railroad,
| from is Way or Local business only, during thc
year ending June soth, lsGs, amount''l't To over
FOUR MILLION DOLLARS,
which, after paying all expenses Was much mc''
than sufficient 10 pay the interest upon It's bonds.
These earnings are no Indication OF the vast
through traffic that must follow the np"uIns OF
the line 10 the Pacific but they certainly prove
that Flst Mortgage Bonds upon such a property,
costing nearly three times their amount, arr en-
tirely secure.
The Union Pacific Bonds run thiIty years. ai'
for 1000 each, and have euup,ns attached
They bear annual interest, payable On the inst
days OF January and July a, the comanyS uitce
IN the city OF New York, at the rate IT ak per
cent. in gold. The principal Is payable ~ gold at
maturity. The price is loa, and at tie present
rate of gold, they pay a liberal income on their
cost.
the value of these bonds IL the length OF time
they have 10 run,
II is wen known that long bond always CON.
mands much higher price than a short one. II
is safe 10 assume that during the nev Thirty
year, the rate OF Interest IN the United States
will decline AS It has done IN EuI"Ie, and ~
have a night to expect that such six p'T cent So
curtics as these will he held at as high PR
MUM a. those of tins Government, Which, IN
1857, were bought ia at from 20 TO = Ier orul
AbNNt At tNiH' At tt''hi'.A sat''f' ''f li
ducc tins result, and As the issue " a private
corporation, they are beyond the reach OF Iol'
cal action.
The Company believe that tApI Bonds, at th,
present rate are the cheapest s'gilu'y IN the
market, and thc rjgAt 10 advance 'tg price ~ my
time IL reserved.
~ Subscriptions VIII b. received in Rutnn.
10y :. ". RowelI, Cashier Of the National nsuA
of Rutland. Henry r. Field, Cashier Of the Rut
land Couury National Bank, and IN New Notl
At the Compauy's Office, No 20 Nassau ,'r,rt
, and by John J. cisco * son Bankers, NJ. b
b Wall street, and by the company, alreE'fs#
agents Throughout the United State.
R,ml,tauees should DC made ia drafts pE a'hr
funds par in New York, and the bonds w1u t
. sent free of clarr, by return express. Partiv
, subscribing through local ug,u,s, Will lpak @
u thcm Tor their safe delivery.
a pamphlet and map for Uses, has just b.t'
published by the company giving fuller iuioma
ton than is possible In an advert mert Inspect
. tus the Progress Of the Work, the Resources q
the Country tra,er-rd by The Road the Means ~
Construction, ana the Value Of the Rou's, vhlcl
4 will b. ,.ut froe on application at the company
= office on to any Of the advertised agents.
Is JOHN J. cisco.
TrelNIr-r New York.
~ August IT,, lobs. .dNV5mo~