Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1868-02-14
525 MILES
0F fBE
UNION PACIFIC RAILROAD
RUNNING WEST FROM OMAHA
ACROSS THE CONTINENT.
ARE NOW COMPLETED.

This brings the lire to the eastern base OF the
Rocky Mountains. and it expected that the track
win be laid thirty miles further, to Evans Pass,
the highest point on the road, by January The
maxirnum grade from the foot Of the mountains to
the sumit is but eighty feet to the mile, while
that Of many eastern roads is over one hundred.
work on the roek-eutting on the western slope
viii continue through the winter, and there is now
no reason 10 doubt that the entire grand line 70 the
Pacific viii be open foy business in 1870.
The means provided for the construction OF this
Great National Work are ample The United
States grants its Six per cent Bonds at the rate
Of from $4,000 to S4S,0 coo per mile, for which it
takes second lien as security, and receives pay
ment to large if not to the fall extent Of its
claim in services These Bonds are issued as
each twenty-niIe section is finished, and after it
has been examined by the United States Com
missioners and pronounced to be in all respects a
frst-eIass road, thoroughly supplied with dePOts,
repairshops stations and all the necessary rolling
stock and other equipments
The United States also makes donation Of
Il. 500 acres Of land to the mile, which wiz be
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 iussae its
own First Mortgage Bonds to an amount equal to
the issue Of the Government and no more. Hon.
E. D. Morgan and Hon. oakes Ames are Trustees
for the Bond-bolders and deliver the Bonds to the
Company only as the work progresses, 50 that
they always represent an actual and productive
value.
The authorized capital Of the Company is One
Hundred Million Dollars, Of which over five mil
lions have been paid in upon the work already
done.
EARNINGS OF THE COMPANY.
At present, the profits of the Company arc de-
rived only from its local traffic. but thisis already
much more than sufficient to pay tho interests on
all the Bonds the Company can issue, If not an
other mile we're built. It is not doubted that
when the road is completed the through traffic of
the only line connecting the Atlantic and Pacific
States viii be large beyond precedent, and, as
there win be no competition, team always be done
at profitable rates.
It win be noticed that the Union Pacific Rail
road is in fact Government Work, built under
the supervision Of Government money, and that
its bonds are issued under Government directors.
II is believed that no similar security is so
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 90 CENTS ON THE
DOLLAR, they are the cheapest security in the
market being more than fifteen per cent. lower
than U. s. 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 Company's Office, No. 90 Nassau street, and
by CONTINENTAL NATIONAL BANK, No. 2
Nassau street, CLARK, DODGE s CO., Bankers,
No 81 War street, JOHN J. CISCO ( son,
Bankers, No. SO Wall street, and by the Compa-
ny's advertised Agents throughout the United
States. Remittanees 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
subscribing through local agents, viii look to
them for their safe delivery.
4 NEW PAMPHLET AND NAP, showing the
Progress of the Work. Resources for Construction
and Value Of Bonds, may be obtained at the
| Company's Offices or of its advertised Agents or
viii be sent free on application.
JOHN J. CISCO, Treasurer, New York.
November %, 1867.