Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1868-01-17
526 MILES
OF rHE
UNION PACIFIC RAILROAD
RUNNING WEST FROM OMAHA
ACROSS THE CONTINENT.
ARE NOW COMPLETED.
ARE NOW COMPLETED.

This brings the line TO the eastern base Of ths
Rocky Mountains, and it sxpeeted that the track
win be laid thirty miles further, to Evans Pass,
toe highest point on the road, by january. The
maximum grade from the foot OF the mountains 70
the sumiI is but eighty feet to the mile, while
that Of many eastern roads is over one hundred.
Work on the roek-eatting on the western slope
viii eontinue through the winter and there Is now
reason % doubt that the entire grand line the
Pacific viii be open for business in 1870.
The means provided for the construction Of this
Great National Work are ample. The United
Status grants its Six per cent Bonds at the rate
Of from sIeooO to SIS, 900 per mile, fo= which it
takes seeoHd lien as security, and receives pay
ment 70 large if not to the full extent Of It's
claim in services These Bonds are issued as
each twenty mile section is finished, and after il
has been examined by the United States Com
missioners and pronounced 10 be in all respects a
frst-eiass road, thoroughly supplied with depots,
repair-shops stations, and all the necessary rolling
stock and other equipments.
Ihe United States also makes a donation Of
l2,s00 acres Of land to tho mile, which will be q
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 iussue
own First Mortgage Bonds to an amount equal to
the issue Of the Government and no more. Hon.
E. D. Morgan and Hon. Cakes Ames are Trustees
for the Bond-holders, and deliver the Bonds to the
Company only as the work progresses, so tina,
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 trafe but thisis already
much more than sufficient to pay the interests ou
all the Bonds the Company can issue, if not an
other mile we're built 1t is not doubted that
when the road is completed the through traffic oi
the only line connecting the Atlantic and Pacific
States viii be large beyond precedent, and, a,
there viii be no competition, itean always be don,
at profitable rates.
1t viii be noticed that the Union Pacific Rail
road is. in fact, Government Work, built undei
the supervision Of Government money, and tha
its bonds are issued under Government directors
1t is believed that no similar security is so care
fully guarded, aud certainly no other is base,
upon a large or more valuable property. As tn
Company's
FIRST MORTGAGE BONDS,
are offered for the present at 90 CENTS on THI
DOLLAR, they are the cheapest security in th
market, being more than fifteen per cent. lowe
than T. 5. Stocks. They pay
SIX PER CENT. IN GOLD,
or over NINE PER CENT. upon the investment
| Subscriptions Will be recIyed in Bedford b,
RUPP AND SHANNON, and in New York a
/ the Coupany's Office, No 20 Nassau street, an,
/ by CONTINENTAL NATIONAL BANK, No.
Nassau street, CLARK, DODGE Co, Bankers
! No. 81 Wall street, JOHN J. CISCO & son
I Bankers, No, 80 Wall street and by the Compa
ny's advertised Agents throughout the Unite
States. Renittances should be made in drafts q
other funds par in New York, and the bonds vi
be sent free Of charge by return express Partis
subscribing through local agents, viii look
them for their safe delivery
ANEW PAMPHLET AND MAP, showing th
Progress Of the Work, Resources for Construetio
and Value Of Bonds, may be obtained at Ii
Company's Offices or Of its advertised Agents.
viii be sent free On application.
JOHN J. CISCO, Treasurer, n sw York
November %, 1867.