The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1868-09-28
EIGHT HUNDRED MILES
OF THE
UNION PACIFIC RAILROAD

OF THE
UNION PACIFIC DAD
ARE NOW FINISHED AND IN OPERATION.
Although this road Is built with great rapdity, the
work is tho oughly done, and is pronounced BY the
United States Commissioners to be frgt-class in
every respect before 1t Is accepted aud before any
bonds can be issued upon it
apidity ap3 excellence of cons 'ruction have been
secured by complete division of labor, and by dis
tr1buting tho twenty thousand men employed along
the line Tor lO1y distances at oncs. 1t Is now prob
able that the
WHOLE LINE TO THE PACIFIC WILL BE COM
PLETED IN 1869.
The Company have ample means of which the gov
ernment grants the right OF way. and all necessary
timUer and other materials found along the line Of
its operations; also 1880 acres of land to the mile
taken In alternate sections side Of its road;
also United States thirty-year bonds. amounting to
from $4,000 to SAB 900 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 it 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, nails, &c.
The EARNINGS OF THE UNION Pa C1FIC RAIL
ROAD from its way or local business only, during
the year ending June 3Oth, 1868. amounted to over
FOUR MILLION DOLLARS.
which, after paying all expenses was much more
han sufficient to pay the interest upon its Bonds.
These earnings 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 property, costing nearly three times
their tmount,
Are Entirely Secure.
The Union Pacific Ponds run thirty years, are for
$1,000 each and have coupons attached. They bear
annual interest payable on the first days Of January
and July at the Company's office In the City OF New
YORK. at the rate of fix ceUt in gold. The prin
cipal Is payable in gold at maturity. Tho price is
102 and ut the present rate Of gold they pay hbe-
raj income on their cost
A very important consideration in determining the
value of these bonds is THE LENGTH OF TIME
THEY HAVE 10 RUN.
It is we'll known that long bond always commands
much higher ice than short one. 1t Is SAFE TO
assume that during the next thirty years, the rate OF
interest in the United States Will dec Inc as It mas
done in urope, and we have right to expect that
such six per cent securities as these will be held at
as high premium as those OF this government, .
which, in 1857, were bought IN at ~ 70 2S per cent
above par. The export demand alone may produce
this result and as the issue Of ivatc corporation,
they are beyond the reach of political action.
The Company believe that their Bonds, at the pre-
sent rate a tho cheapest security in The market,
aud the right to advance the price at any time is
reserved subfc iptio-s will be received in New
York OF the
COl1PANY'S OFFICE, No. 20 NASSAU-ST,
JOHN j. CISCO & son, Bankers,
No. SO WALL-sTREET,
And by the Company's Advertised gents
throughout the United States.
8T 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
scrblng through local agents will look to them for
their safe delivery.
es- PAMPHLET AND MAP FOR 1868 has just
been published by the Comoany, giving fuller infor.
nation than is possible in advertisement respect
inp the Progress Of the Work. the Resources of the
Country trayaned by the Road, tie Means for Con-
struchon, and the Value OF the Bonds, which will be
sent free on application at the companys Of1cs, or
to any of the advertised Agents.
JOHN ]. CISCO, TREASURED.
September 70 LIMO New York.