Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1868-01-31
525 MILES
oF TUE
oF TUE
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 The
Rocky Mountains and il expected that the track
will be laid thirty miles further to Evans Pass
the highest point on the road, by January. The
maximum grade from the foot Of the mountains 70
the sumit Is hut eighty feet to the mile, while
that Of nany eastern roads s over one hundred
Work on The rock cutting on the western slope
will continue through tho winter and there Is now
no reason to doubt that theentie grand line to the
Pacific viii be open for business in 1870
The means provided for the construction Of this
Great National Work are ample. The United
states grants It's Six per cent Bonds at the rate
Of from stG,o00 to S4s,O00 per mile, for which it
takes .ee9a@ tsi as ecUrity, and receives pay
moHt to large If not to the fun extent Of its
claim in seT.ices- 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 to be in an respects
frst-class road thoroughly supplied with depots,
repair shops, stations and all the necessary rolling
stock and other equipments.
The United States also makes donation Of
1850 acres of land to the mile, which will 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 iussue it,
own Pirsi Mortgage Bonds to an amount equal to
the issue Of the Government and no more. Hon.
L. D. Morgan aud Hon Oakes Ames are Trustees
for the Bond-holders, and deliver the Bonds to the
Company only the work progresses, 90 that
they always represent an actual and productive
value,
The authorized capital Of the Company is One
Hundred Million Dollars, ef which over five mil-
liens 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 thisis already
much more than sufficient to pay the interests on
all the Bonds the Company can issue, if not an
other mile were built 1t 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 will be no competition, it can always be done
at profitable rates,
1t viii be noticed that the Union Pacific Rail
road is, in fact, G2rernmeat Work, built under
the super, ision st Government money, and that
its bonds are Issued under Government directors.
Il is believed that similar security is 50 care
fully guarded, and certainly no other is based
upon large or more valuasls 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
,han q. S. Stocks They pay
SIX PER CENT. IN GOLD,
gr over NINE PER CENT. upon the investment
Subscriptions win be received in Bedford By
RUIZ AND SHANNON, and in New YorE at
the Comp1nys Once. No. % Nassau street. and
/ by CONTINENTAL NATIONAL BANK, No.
Nassau street CLARK, DODGE q CO., BANKERS,
No. 81 Wall street, JOHN J. CISCO d son,
Bankers, No 38 Wall street, and by the Compa-
ny's advertised Agents throughout the United
States Ronittancss should be made in drafts OF
other funds par in New York, aud the bonds will
be sent free Of charge by return express. Parties
subscribing through local agents, viii look to
them Con their safe delivery.
A NEW PAMPHLET AND MAP, showing the
Progress OF the Work, Resources fer Construction
and Value Of Bonds, may be obtained at the
Cempany's Offices or Of its advertised gents or
wiz De sent free on application
JOHN J. CISCO. Treasurer, n ev York.
I November 81 1857