Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1868-06-05
800 and 800 Miles.

will be in operation during ISIS. There seems to
he no reasonable doubt that the distance between
Omaha and sacramento will he trascrsed by rail
in 1870
The Government grants Il, 500 res Of land, and
ITS bonus To the average amount OF S2s.OOO per
mile. to and IN the cons tructiOn OF the line and
thoriSes the issue of the First Mortgage Bonds
now offered for sale, to the same amount and
more The government takes Il second lien, aud
gives TO the First Nor < ge Boudhoiders prior
lien for their security. 10 which II large paid-up
capital is added. The Bonds cannot be issued eN.
cept as each section Of twenty miles Is accepted
by Government commission that they always
repre- sent n real property.
ii is universally admitted tina. on the completion
OF the Union Pacific isaih oad its through business
viii make Ii one of the mo Il profitable IN the world
but IT. way or io.,1 business is already several
times the interest or its b)hds that, if not and
other mile were built, they would be n in
vestment. The ne earnings for eight months OF
last year on an average of ~ miles are officially
reported at i,0j9 5j, willie the interest all the
bonds II could issue on that length OF road for thai
time reduced to cnrrel ~, Was only S%5,sJi.
The amount paid by The Government for the
transportation OF troops, munitions, stores and
mails has been, and doubtless will continue to be :,
n neh more than the interest on the Nuited STATE.
second Mortgage Bonas. II ii is not the charter
provides that alter the road Is completed and I'M
til said bonds and interest are paid, at least five
per cent OF the net earnings OF the road shall nc
applied to such payment.
The Unlon Pacific Bonds are for $1,000 each,
and have coupons attached They have thirt,
Years 10 run and bear annual interest. payable on
the list da.s OF January and July at the Compa-
ny's office in the city OF New York, al the rate %
hlN ceHi III 5Vltl ille ffiLC lp3l IL payable ID
gold nj maturity At the present rate OF gold,
these bonds pay an an ual income on their cost OF
NEARLY NINE PER CENT..
AND II Is BELIEVED THAT THEY MILL SOON BIZ AT
a PREMIUM.
;, The Company have hut limited supply of fher
Bonds remaining On hand, but subscriptions
accepted 10 a CREATE amount imam can be filled
from Go~ DIS now in the Con pany's possession,
Will ne supplied from the New Bonds 10 be issued
on ia"l portion Of the road completed in the spiing
in the order IN which they received. The com.
Lany re5srye the lo..t 10 advance the price of
their bonds To 4 rate AGO par ut any time, and
will not ill any orders receive any subscrip-
ton. o'l which the non-y has not been actually
la.l At Tie COMPANY, Office before the time of such
advance. Parties subscribing will remit the par
Iency at the rate OF six per cent, per annun, from
the date on which the last coupon was paid,-Suu-
scriptions VIII be received in Ellsworth, by
a. +. DR4NKWATER. Esq,
AMI in Bucksport. by
EDWARD swAzEY, Cashier of the ma
tional Bank.
and in New York
And by
JOHN. j. CISCO & SON, Bankers, No. so
Wall street.
And by the company advertised agents through.
out the United States.
Remttances should be made in drafts or other
funds par in New York, and the Bonds will be sent
free of charge ~ return express. Parties sub
scrlbing thro ugh local agents, will LOOK to them
A Pam hlet and !N4p for 1865 has Just been pub
lished By the company, giving fuller information
than IS possible in an advertisement respecting
the progress of the work, the resources OF the
country trayersed by the road. the means for con
struction, and the value of the Bond-. which will
be seut free on application at the Companys Oh
noes or any OF the agents.
John j. Cisco, Treasurer,
New York.
April 10, 1868. SIN 20