Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1868-09-24
Railroads.
Sn0 Miles Of the UNION PACI-
COO FIC RAILROAD are now nnishea

Snn Miles Of the UNION pACI-
oOO flo RAILROAD are now finished
and In operation. Although this mad is built
with great Tapiiity, the work Is thoroughly done,
and Is pronounced by the United States Commis-
soners To be rst-elass in every respect before 1t
Is accepted, and before any bonds can be issued
upon it.
Rapidity and excellence OF construction have
been secured by a complete division Of labor and
BY distributing the twenty thousand men em.
ployed along the line tor hong distances at once.
II is now probable that the whole line 10 the Pa
eihe will be completed in 1859,
The Company have ample means Of which the
Government Grants the night OF way, and all
necessary timber and other materials found along
the line Of its operations also 500 aeres 81 land
To the mile, taken in alternate sections on each
side Of its roaa also United States Thnty-year
Bonds, amounting 10 nom $4,000 70 $4,000 per
mile, according 10 the difficulties 10 he surmount-
ed on the various sections TO be built, for which
It takes a second mortgage As security, and It Is
expected that not only the interest, but the rrn-
eipal amount may be paid In services rendered by
the Company IN transporting troops, mails, &c,
The earnings OF the Union Pacific Railroad,
from its Way or Local Business only, during the
year ending June Soth, Uses, amounted 10 over
FOUR MILLION DOLLARS,
which, after paying all expenses was much mole
than sufficient Ia pay the interest upon its Bonds.
These earnings Indication OF the vast
through traffic that must follow the opening OF
the line 10 the Pacific, but they certainly prove
that first Mortgage Bonds upon such a property,
costing nearly three times their amount, are en-
tirely secure.
The Union Pacific Bonds run thirty years, are
for sl,oOo each, aud have coupons attached.
They bear annual interest, payable on the tTst
days OF January and July az the eomany's office
in the city Of New York, At the rate nf six pen
cent. in gold. The principal is payable in guld at
maturity, The price is lO2, and NJ the present
rate Of gold, they pay a liberal income on their
cost.
A very important consideration IN determining
the value of these bonds is the length OF tune
they have 10 run.
IL is well known that a long bond always COM
mands a much higher rnee than short one. II
Is safe to assume that during the next thirt'.
years, the rate OF interest IN the United - ,t.,
will decline as 1T has done in Eurnpc. md W.
have a night 10 expect that such tx p r cent So.
curities As these will b. held Al a. hi,b A pr,.
MUM as those Of this GOVERN arnt. which IN
1857, were bought in at from 20 Ia % nor cent
above par The export dcU and alone may pr,-
ducc this result, and AS the issue of a ts,ysts
corporation, they arr bey ond the reach Of polti,
cal action.
The Company believe that their Bonds. a, the
present rate, an the cheapest security IN the
market, and the night to advance the price AZ any
time Is reserved.
-. IA,
by 5. ". RowelI. Cashier of the National Bank
of Rutland, Henry f, Field, Cashier OF the Rui-
land County National Bank, and IN New York
az the Comrany's Office, No. 20 Nassau street,
and by John J. Cisco X son BANKERS, No. 81
Wall street, and by the coupany's ADVERTISED
agents throughout the United States.
Remlt'ancrs should De made "a drafts % other
funds par in New York AMI the Bonds will h,.
sent free Of charge 10y return cNIrss. PARTIES
subscribing through local agents. will hoax tu
them for their safe delivery.
pamphlet and map tor SIS. Ia. lust bscn
pubhshedby the company giving fuller lni1rma-
ton than is possible in an advertisement. respect.
ting the Progress OF the Work, the Resources o
the Country 'r1yorso,i by the Road. the Means for
Construction, and the Nalay ut the Bonds, which
viii be- sent nee on application 40 the campan,'s
Oft, e-, or 70 any OF the advertised agents,
JOHN }. CISCO.
Treasurer, NV York.
August T., 1868. aNV srao.