Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1868-05-21
Railroads.
-rUE UNION PACIFIC RAIL.

HliE UNION PACIFIC RAIL
i ROAD Company OfcF a limited amount OF
their First Mortgage Bonds at par, principal and
interest payable m gold,
miles from Omaha, on the Missouri nNel, 70 the
tide-watoT OF the Pacific Ocean, Is hcins built by
two powerful companies The Union faelhc, Be-
ginning at Omaha, building west, and the ten
trail Pacific Of Calliornla, beginning al Sacramento
building east, until the two roads shau meet.
Both companies have prosecuted the work with
great vigor the Union Pacific having alTcady cx-
pended over thirty mllllon dollars, and the ten
trail over twenty millions, upon their respective
parts Of the undertaking, The Union iaelhe
have completed $50 miles haze mon AMI other
materials Tor two hundred miles more upon the
grOuud and one hundred additional miles arr
ready ilr the track, They will have much larger
iOrCe employed tins year than ever before, ana II
is expected that between $50 aud 800 mllts VIII be
in oiemnan during lsGs, There seems TO b no
reasonable doubt that the distance between Oma-
Ia aud Sacramento VIII BE- trayered by rail- IN
1870.
The Government grants - 500 acres OF land,
and its bonds 20 the average amount OF .!s,oUU
per mile "a aid IN the construction u the line,
and authorizes the issue Of the First Mortgage
Bonds now offered Tor sale, 20 the same amount
and no more, The Government takes second
lien, and gives 10 the FITst Mortgage BopdhUldrss
pnor lien Ton their security, 70 which large
ptid up capital Is added, The bonds cannot be
issued except as each section OF twenty miles y
accepted BY the Government commission, 80 that
they always represent a real property,
II !, universally admitted that ON the oomply-
ton 81 the Union Pacific Railrnaa, lts through
business viii make u OF the most profitable IA
thvWurl but It's way or local business Is already
several tunes the interest on is bonds, So thar, II
not another mile were built, they would l." "A
secure investment,
The not earning, for ,fht months OF last year
on an average Of $50 mile, are officially imported
AZ a. O6l l3U, while the interest On all the banaa
II could issue on that length Of road Ton the time
reduced 70 currency, was only s3ij,s50.
The amount paid by the Government IN Ga,
transportation Of troops, munitions, stous aud
mails has bcpu, and doubtless Viii continue % bt
much more than the interest on the nl'ed States
Second Mortgage Bonds. II It Is not the charter
provides that after the mad iscomr.citl, ana uh'
al said bonds and interest ara pad, al least tN'
pei cent. of the net earning. oi tbs uaAI shtll De-
applied 20 such payment
The Uuiuu ratlu, Bonds ar tor q eoo each.
aud have CUUTUUs AlAr- LAlLiA
years 70 run, and bear annual utrres', payable
on the trs, days ot january and July AZ the cum-
pauy's otic, IN thu city III New York, at The Tat,
OF slX pr cent, IN gold Tie principal Is payable
IN gold az maturity. A. N, present rate 81 gold,
thes, bonds pay au annual income ON thalT ga,'
of nearly min, per guu'.. and Us h,heN" THAT tNaA
WILL soon hv az a premium.
The company h4No but very hunted sujIl' ~
their bonds remaining ON iautt lHt amy -HH
>rnptidus accepted Ga eT,a'ar amount ''Rn th
b. filled trHm bonds u8w ma thu company possess
sion, viii ne supplied iuia ID. Nov l3N.t- z. q
issued uu that portion o. tha road a1Mn#'.@ 3'
the Spring, IA thn url,r pa NAaA iA'} 81, t.-
+ Dtl,vl.
TIN company ra,3rv. the right 'o advance 'H
price pt tArlI iuuaS 'a "a rate abstr IaF az ANY
ime. ana viii ust hI any orders OF raaE.e ans
subscriptions uu whIgh The Wauty has uut b,ru
actually iu! u' th' pHuIafl p, Hlhe- 4.'rr '#.
time % -uub advance.
Parties ,uh-euhir Will remit the tJ N,lae 90
B.. a fg.s Oh. .