Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1868-05-13
THE UNION PACIFIC
RAILROAD COMPANY
orpER LIMITED AMOUNT or rnEiR
FIRST MORTGAGE BONDS
NoIpAL AND INTEREST PAYABLE IN GOLD

PRINCIPAL AND INTEREST PAYABLE IN GOLD.
The Great Pacae Railroad Line, extending 72i miles
from omahn, the Missouri River, to the tidewaters OF
the Pacific Ocean, Is being built by two powerful Compa
nies-rHE uSioN PACIFIC, beginning at Omaha, building
West and the Central Pacific of California beginning at
Sacramento building East, until the two roads shall
meet.
Both Companies have prosecuted the work with great
vigor, the Union Pacific having already expended
THIRTY MILLION DOLLARS,
and the Central Tweny Ntions upon their Tespec
tive parts of the undertaking. THE UNION PACIFIC
HAVE COMPLETED $50 MlLEs-have iron and other
materials for two hundred miles more upon the ground
and hundred additional miles are ready for the
track. They will have much larger force employed
this year than before and is expected that be-
tween
500 ASp 900 MILES
will be In operation during 1865 There seems to DO no
reasonable doubt that the distance between Omaha and
Sacramento will be travcrsed by rail In 1870
THE GOVERNMENT GRANTS 1850 acres of land
and is Bonds to the average 900 per mile
to aid in the construction Of the line aud authorizes the
issue OF the First Mortgage Bonds offered for sale to
the amount and no more. The Government takes
'oHd lien and gives to the First Mortgage Bondholders
prior lion for their security, to which a large
paid-up capital is added The Bonds cannot be issued
except each section Of twenty miles is accepted by
Government commission that they always represent
real property.
IL universally admitted that on the completion of the
Union Pacific Railroad, It's through business will make
1t of the most profitable In the world-but its y or
Local business Is already several times the interest It's
honds that, IL not another mile were built they
would be a secure investment.
THE NET EARNINGS for eight months of last year on
an average Of s6 miles officially reported ut O6g-
1856, while the interest ON all the Bonds II could issue ON
that length of road for that time reduced to currency
was only s3i5,si6,
The paid by the Government for the ranspor-
aton Of troops munitions stores and malls has been
and doubtless will continue to be- much more than the
interest the United States Second Mortgage Bonds II
II not, the charter provides that after the road com
plcted and until said bonds and interest paid at least
five per cent OF the net earnings Of the road shall be
piled to such payment.
The Union Pacific Bonds are for 81 900 each and have
coupons attached They have thirty years to run, and
bear annual interest payable the FIRST days OF January
and July at tho Company's Oncc in the city Of New
York at the rate of six per cent in gold The Principal
is payable in gold maturity At the present rate Of
gold, these bonds pay an annual income on their cost
Of
NEARLY NINE PER CENT,
am m rs BELIEgED THiT THEY MN SooR M
ar 4 PREMIUM
The Company have but very limited supply of their
Bonds remaining hand but any subscriptions accepted
TO greater amounttha can be oiled nom Bonds IL
the Companys possession will be supplied from the New
Bonds to he Issued that portion Of the road completed
In the SPRING in the order In which they are received
The Company reserve the right to advance the price
their bonds TO a rate above par at any time, and will
nl any orders receive any subscriptions which IA,
money has not been actually paid at the Companys of
] naa l.af.r fI.af f..s. .fa a.