Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1868-01-24
505 M lie s
or rHE
PACIFIC RAILROAD
RUNNING WEST FROM OMAHA
THE CONTINENT.
ARE NOW COMPLETED.

This brings the line to the eastern base Of the
Rocky Moantains, and it expected that the track
win be laid thirty miles further, to Evans Pass,
the highest point on the road By January. The
maximum grade from the foot Of the mountains to
the sumit il but eighty feet to the mile, while
thai Of many eastern roads is one hundred.
Work on the roek-eutting on the western slope
viii continue through the winter, and there is now
reason to doubt that the entire grand line to the
Pacific will be open for business in 1870.
The means provided for the construction Of this
Great National Work are ample The United
Status grants its Six per cent Bonds at the rate
Of from $4,000 to S4s,OoO per mile, for which it
takes second ttei, as security, and receives pay
ment to large if not to the full extent Of its
claim in services. These Bonds are issued as
each twenty mile section is finished, and after it
has been examined by the United States Com
missioners and pronounced to be in all respects a
irst-cass road, thoroughly supplied with depots
repair shops stations and all the necessary rolling
stock and other equipments.
The United States also makes donation Of
1880 acres Of land to the mile, which will be
source Of large revenue TO the Company. Much of
this land in the Platte Valley is among the most
fertile in the world. and other large portions
covered with heavy pine forests and abound in
coal Of the best quality.
The Company is alse authorized to iussue its
own First Mortgage Bonds to an amount equal to
the issue Of the Government and no more. Hon.
E. D. Morgan and Hon. Oakes Ames are Trustees
for the Bond-holders and deliver the Bonds TO the
Company only as the work progresses, SO that
they always represent an actual and productive
value.
The authorized capital Of the Company is One
Hundred Million Dollars, Of which over FIVE mil
lions have been paid in upon the work already
done.
EARNINGS OF THE COMPANY.
At present the profits Of the Company are de-
rived only from its local traffic, but thiss already
much more than sufficient to pay tbs interests on
al the Bonds the Company can issue, if not an
other mile we're built. 1t is not doubted that
when the road is completed the through traffic Of
the only line connecting the Atlantic and Pacific
States will be large beyond precedent, and, as
there will be no competition, It can always be done
atproftable rates.
II viii be noticed that the Union Pacific Rail-
road is, in fact, Government Work, built under
the supervision of Government money, and that
its bonds are issued under Government directors.
1t is believed that no similar security is SO care
fully guarded, and certainly no other is based
upon a large or more valuable property. As the
Companys
FIRST MORTGAGE BONDS,
are offered for the present at 90 CENTS on THE
DOLLAR, they are the cheapest security in the
market, being more than fifteen per cent lower
than L. S. Stocks. They pay
SIX PER CENT. IN GOLD,
or over NINE PER CENT upon the investment,
Subscriptions will be received in Bedford by
RrPP AND SHANNON, and in New York at
the Company Office, No 20 Nassau street. and
by CONTINENTAL NATIONAL BANK, No.
Nassau street. CLARK, DODGE CO.. Bankers,
No 81 Wall street, JOHN J. CISCO 4 SON,
Bankers. No. 3S Wall street, and by the Compa-
ny's advertised Agents throughout the United
States. Remittances should be made in drafts or
other funds par in New York, and the bonds will
be sent free Of charge by return express. Parties
subscribing through local agents, will look to
them for their safe delivery.
A NEW PAMPHLET AND MAP, showing the
Progress Of the Work, Resources for Construction
and Value Of Bonds, may be obtained at the
Company's Offices or ofits advertised Agents, or
viii be sent free application.
JOHN j. CISCO, Treasurer, New York.
November %, 1857.