The Waynesburg Republican. [volume] (Waynesburg, Pa.) 1867-18??, 1868-05-20
Misssltaneuus.
NHE UNION PACIFIC
UYHE UNION PACIFIC
RAILROAD COMPANY
OFFER LIMITED AMOUNT or. THEIR
FIRST MORTGAGE BONDS
AT PAR, r
P A Y A lie IN GOLD.

r A I A Is L. r N G 0 l. d.
The Great Pacific Railroad Limo, extending
| l72l miles nom Omaha, on the Missouri river. to
| the tide-waters OF the Pacific Ocean, is being
built by two powerful Companles-The Usios
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 vlgor, the Union Pacific having al.
ready expended over .r
THIRTY MILLION DOLLARS
and the Central over Twenty MILLIONS, upon
their respective parts Of the undertaking Tho
Union Pacific have completed $50 mlles--hsvs
ron and other materials for two hundred miles
more upon the ground and one hundred addl-
tional miles are ready for the track. They will
have a much larger force employed this year
than ever before, and II Is expected that botweon
800 AND 900 MILES
will be In operation during 1858. There seems to
be no reasonable doubt that the distance be-
tween Omaha and Sacramento will be traversed
by rail In 1870.
THE GOVERNMENT GRANTS IL, $40 acres Of
land and Its Bonds to tlre 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. Tho Government takes
SECOND lien, and gives to the First Mortgage
Bond-holders prior lien for their security, TO
which large paid-up capital Is added. The
Bonds cannot be issued except az each section
of twenty miles is accepted by Government
| thot tbav N
real property.
1t is universally admitted that on tho COIN
pletlon ofthe Union Pacific Railroad, Its through
business will make It one OF the most profitable
in the world-but Its WAY or LOCAL business Is
already several times the interest ON Its bonds:
so that, II not another mile wero built, they
would be q secure investment
| THE NET EARNINGS for eight months Of
last year on an average ofss0 miles are officially
reported at sl,O69,lS5, while the interest on all
the Bonds It could Issue on that length OF road
for that time reduced to currency. was only
sSi5,S5G.
The amount paid by the Government for the
| transportation of troops, munitions, stores and
mails has been and doubtless will continue to
be much more than the interest on the United
statcs Second Mortgage Bonds. mt not. tho
charter provides that after the road Is compile
|
at least tlve per cent OF the net earnings Of the
road shall be applied 10 such payment,
The Union Pacific Bonds are for sl.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 Compeny's ONCE In the city Of New
York. at tho rate Of six per cent. In gold Tho
Principal Is payable In gold at maturity. At
the present rate Of go,d 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 buta very limited supply
of their Bonds remaining on hand butany sub
scriptions accepted to q greater amount than
can be filled from Bonds now In tho Company's
possession will be supplied from tho 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 70 advance
the price Of their bonds TO a rate above par a'
any time and will not fll any orders or receive
any subscriptions on which the money has moi
been actually paid at tho Companys ONCE be
fore the time Of such advance.
Parties subscribing win remit the par value o.
the bonds and the accrued interest In currency
at the rate Of six per cent. per annnm, from the
date on which the lass coupon was paid. Sub
criptlons will be received In Waynesburg. Pa.
BY THEFIRsT NATIONAL BANK.
In New York
ATTHE coMPANY's OFFICE, 20 Nassau 9,
and by
JOHN J. CISCO & SON, Bankers. % Wall Sc
And by the Company's Advertising Agent
throughout the United states.
Remittences should be had in drafts or othe
funds par In New York, and the Bonds will b
sent free Of charge by return express. Psrtie
subscribing through local agents, will look u
them for their safe delivery.
A PAMPHLET AND MAP for 1888 has Jus
been published by the Company, giving fulle
information than Is possible In an advertise
rnent, respecting the progress Of the work, tn
resources Of the country traversed by the Road
the means for construction, and the vaue Of tn
bonds, which will be sent free on application a
at the Company's otIices or 70 any Of the adver
tised agents.
JOHN J. CISCO, Treasurer, New York.
ap %, ,'G8-3rn