Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1868-08-20
Railroads.
|7S0 Miles Of the UNION PACI-

Wv flC RAILROAD are now nniAhed
and In operation, Although this road is built
with great rapidlty the work Is thoroughly done,
and Is pronounced by the United States Commls-
sioners To be hrst-eass in every respect before Il
Is accepted, and before any bonds can be issued
upon 1T.
Rapidity and excellence OF construction have
been secured BY complete division of labor, ami
by distributing the twenty thousand men EN-.
ployed along the line for long distances at once.
II is now probable that the whole line TO the Pa.
eiao will be completed in 1909,
The Company have ample means OF which tie
Government Grants the right OF way, and all
necessary timber and other materials found along
the line Of its operations also 500 acres Of land
to the mile, taken in alternate sections on each
side OF its road also United States Thirty.ysaT
Bonds amounting TO nom $4,000 to $4,000 peT
mile, according TO the difficulties To bs surmount.
ed on the various sections TO be built, ion which
II takes second mortgage as security, and 1t Is
expected that not only the interest, but the prin
eipsl amount may be paid in services rendered BY
the Company IN transporting troops, mails, &C.
The earnings OF the Union Pacific Railroad,
from its Way or Local Business only, during the
year ending June Soth, 1865, amounted to over
-FOUR MILLION DOLLARS,
which, after paying all expenses was much more
than sufficient 10 pay the interest upon its Bonds,
These earnings are 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 property,
costing nearly three times their amount, are en-
tlrely secure,
- n rttu ~
for 81 600 each, and have coupons attached.
They bear annual interest, payable on the first
days of January and July at the comany'. office
IN the city OF New York, at the rate of six per
cent. in gold, The principal Is payable IN gold al
maturity. The pnee Is l02, and At the present
rate OF gold, they pay liberal income on their
cost.
A very Important consideration IA determining
the value Of thes, toud, Il the length 81 tina
they have 10 run.
IL Is well known that long bond always COM
mands a much higher puce than short one. II
Is safe 60 assume that during the next thirty
years, the rate OF interest in the United States
Will decline rs It has done in Europe, and W.
have a night 10 expect that such siN per cent sa-
cuuiIe. as these will h. held AZ a. high pre-
MUM ~ those OF this Government, which, ~
1855, were bought IN at frUm % TO % per cent.
above par. The export demand alone may pro.
luce this result, and as the issue OF private
corporation, they are beyond the reach OF poIin-
cal action.
The Company believe that th,ti Bonds, at tn
present rate, are the cheapest security IN TIL
market, and the night 10 advance the price AZ any
time 1, reserved.
~ Subscriptions viii be received IN Rutlani
by :. W Rowen Cashier Of the National Bank
Of Rutland, Henry F. Field, Cashier of the Rut-
land County National Bank, and IN New York
at the Cumpany's Office, No. 20 Nassau street
| and by John J. Cisco Il son Bankers, No. s.
Wall street, and 10y the company's advertised
| agents throughout the United States.
RemIttances should BE- made in drafts or other
funds par IN New YoIE. aud the Bonds VIII Be
sent Tree Of charge by return express. rattig VI,
subscribing through local agents, vail taak t.
them Ton their safe delivery.
A pamphlet and map In isis hr. JUS, been
published by the company, gl,iu' RULER informs
tson than is possible IN an a4y,r,-yurtt respect
tug the rrer,ss OF thu Work, the Resources
the Country trtyrr.ra by the Road, the Means iag
Contraction; and the Vtlue of the Bonds, vhleh
viii be ,,ut Tree on application at The campauy s.
9th 81, ~ 60 ANY OF the advertised agents.
JOHN j, CISCO
Treasurer Now York.
August Ia la.S dAw&tuu-