Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1868-01-10
525 NILES
UNION PACIFIC RAILROAD
RUNNING WEST FROM OMAHA
ACROSS THE CONTINENT,
ARE NOW COMPLETED.

This brings the line to the eastern base Of the
Rocky Mountains and il expected that the track
will Be laid thirty miles further TO Evans Pass
ne highest point On the road, by January. The
naziHau grade from The foot Of the mountains to
lne sumit ia bat eighty feet to the nile, while
ta@' OF many eastern roads is over oue hundred.
hoFk on the roekeHtting on the western slope
VII continue through DE winter, and there is now
no reason to doubt that tthe~trc graad line to the
Pacific win be open for business in 1879.
The means provided for the construction Of this
Great National Work are ample. Tie United
States grants It's Six per cent. Bonds at the rate
of from $4,000 to SIS o0e per mile, for which Il
takes second lien as security, and receives pay
ment % large If not to the fuH extent of its
claim in services These Bonds are issued as
each twenty mile section is finished, and after it
mas been examined BY the United States Com
missioners and pronounced to be III all respects
arst-elsss road, thoroughly supplied with depots,
rspaT-shops, stations, and sli the necessary rolling
stock and other equipments.
ihs United States also makes donation Of
1880 acres Of land to the mile, which wiz he
/ 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 are
covered with heavy pine forests and abound in
coal Of the best quality.
The Company is alse authorized to iqssue
own First Mortgage Bonds to an amount equal to
the issue Of the Government and no more. Hon.
E. D. Morgan aud Hon. 0akes Ames are Trustees
for the Bona-holders, and deliver the Bonds to
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 i've 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 thfss already
much more than sufficient to pay the interests on
all the Bonds the Company can issue, if not an
other mile were buiIt. It is not doubted that
when the road is completed the through traffic Of
the only line connecting the Atlantic and Pacific
States win be large beyond precedent, and, as
there win be competition, can always be done
| at profitable rates.
Il win be noticed that the Union Pacific Rail-
road Is, in fact, Gorerna,ea, Work, built under
I the supervision Of Government money, and that
its bonds are issued under Government directors
It Is believed that no similar security is SO care
fully guarded, and certainly no other is based
upon large or more valuable property. As the
| Company's
FIRST MORTGAGE BONDS,
are offered for the present at go CENTS on THE
| DOLLAR, they are the cheapest security in the
market, being more than fifteen per cent. lower
than I. 5. Stocks. They pay
/ SIX PER CENT. IN GOLD.
or over NINE PER CENT. upon the investment.
Subscriptions VIII be received in Bedford by
RUPP AND SHANNON, and in New York at
| the Companys Once, No 20 Nassau street, and
| By CONTINENTAL NATIONAL BANK, No. 7
Nassau street, CLARK, DODGE & Co. Bankers.
Nc. s. Wall street, JOHN J. CISCO L son,
Bankers No. 50 Wall street. and by the Compa-
! ny's advertised Agents throughout the United
| States. Remittanoes should be made in drafts or
other funds par in New York, aud the bonds will
be sent free Of charge BY return express Parties
| subscribing through local agents will look to
| them for their safe delivery
| 4 NEW PAMPHLET AND MAP, showing the
Progress Of the Work, Resources for Construction
and Value of Bonds, may be obtained at the
Company's oices or of its advertised Agents. or
viii be sent free On application
JOHN J. CISCO, Treasurer, New York.
November 23, 1857.