The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1868-09-24
night HUNDRED MILES
OF THE
UNION PACIFIC RAILROAD

OF THE
UNION PACIFIC RAILROAD
ARE NOW FINISHED AND IN OPERATION.
Although this road is built with great rapidity, the
work is thoroughly done, and is pronounced by the
United States Commissioners to be frstclass In
every respect before 1t Is accepted and before any
bonds can be issued upon It
secured by complete division Of labor, and by dis
trlbutng the twenty thousand men employed along
the line ior long distances at once. It Is now prob
able that the
WHOLE LINE TO THE PACIFIC WILL BE COM
PLETED IN 1862
The Company have ample means of which the gov
eminent grants the right OF way and all necessary
timber and other materials found along the line OF
It's operations; also 800 acres of land to the me
taken In alternate sections on eacn side OF Its roads
aso United States thirty-year bonds, amounting TO
from $4,000 to $4,000 per MILE according TO the
difficulties to be surmounted on the various sections
to be built for which II takes second mortgage as
security and 1t Is expected that not only the inter-
est, but the principal amount may be paid IN ser
vices rendered by the Company in transporting
troops, mails, &c.
ROAD from its way or local business only, during
the year ending June S0th, 1858. amounted to over
FOUR MILLION DOLLARS,
which, after paying all expenses was much more
han Sufficient to pay the intere't upon Its Bonds;
These earnings no indication of the vast through
traffic that must follow the opening OF the line to the
Pacific, but they certainly prove that
FIRST MORTGAGE BONDS
upon such a property, costing nearly three times
their mount
Are Entirely Secure.
The Union Pacific Ponds run thirty years, are for
$1,000 each, and have coupons attached They bear
annual interest payable the first days Of January
and July at the Con pany's office IN the Cty OF New
YORK. at the rate of Fix per cent in gold. The prn-
cpal is payable in gold at maturity: The price is
1o2 and at the present rate of gold they pay ioe-
raj income on thelr cost
very important consideration IN determining tne
value of these bonds ia THE LENGTH OF TIME
THEY HAVE TO RUN.
It is well known that long bond Always commands
much higher p,ice than short one 1t 1s safe TO
assume that during the next thirty years. the rate OF
interest in the United States will dne as 1t has
done in Europe. and we have right to expect that
such s1 per cent. securities these will be held at
as high o premium as those OF TINS government.
which, in 1857 we're bought In at 20 TO % per cent.
above par. The export demand alone may produce
this result and as the issue OF ivate corporuon'
they are beyond the reach Of political action.
The Company believe that then Bonds. at the pre-
and the right to advance the price at any time is
reserved Subsc iptio g will be received IN New
York at the
COMPANY'S OFFICE, No. 20 NASSAU ST..
AND By
JOHN j. CISCO & SON, Bankers,
No. SO WALLSTREET,
And by the Company'sAdv Agents
throughout the United States.
E% 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 sub
scribing through local agents will look to them for
their safe delivery.
APAMPHLET AND MAP FOR 1858 has just
been published by the Comoany, giving fuller infor-
nation than is possible in an advertisement respect
inc the Progress Of the Work. the Resources of the
Country traversed by the Road, the Means for Con-
sr,,c,ou. and the Value Of the Bonds, which will be
sent free on application at the companys oace, Or
to any Of the advertised Agents.
JOHN J. CISCO, Treasursr,
esptenbcr 10 limo New Icrk.