Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1868-05-14
Railroads.
THE UNION PACIFIC RAU.

IT, tNloN atiFlI hAll4-
L ROAD Company offer limited amount OF
interest payable in gold
The Great Pacific kailroad l.inf, extending lIal
miles tfom Omaha, ON the Missouri rVeT, 10 The
tide-water Of the Pacific uoean, Is being bull, by
two powerful companies The UniOn Pacific, be,
ginning at Omaha, building west, aud the Cen.
trail Pacific OF California, beginning al Sacramento,
building east, until the two roads shall meet.
Both companies have prosecuted the work with
great vigor, the Union paclfc having already ex,
pended over thirty million dollars, and the Cen.
iral over twenty millions, upon their respective
parts Of the undertaking, The Union Pacific
have completed $50 miles have iron and Other
materials Ion two hundred miles more upon the
ground, and one hundred additional miles are
ready tor the track. They will hayS much larger
force employed this year than ever before, and It
Is expected that between 500 and 900 miles viii be
IN oderation during ls6s, There seems 70 be no
reasonable doubt that the distance between oma.
Ia and Sacramento viii be trayersed by rail IN
$50.
The Government grants Il, 500 aercs Of land.
and - bonds 20 the average amount ot t.s,VN0
per mile, 10 and IN the construction Vt the line,
aud authorizes the issue Of the First Mortgage
Bonds now offered for sale, 10 the same amount
and no more. The Government takes a second
lien, and gives 10 the First Mortgage Bondhaider.
a pnor lien for their security, 10 which large
psid up capital Is added. The bonds eanno, b.
issued except as each section Of twenty miles j.
accepted by the Government commission, so that
they always represent a real property.
IL is universally admitted that ON the compile
ton Of the Union Pacific Railroad, its through
business will make II one OF the most profitable IN
the world but its way OF local business Is already
several times the interest on It's bonds; 40 that, II
not another mile were built, they would BE- =
secure investment.
The net earnings for eight months OF last yeaI
on an average of $50 miles are officially vported
az 81 ,O6e 1856 while the interest ON all the bonds
It could issue ON that length OF road for the time,
reduced TO currency, was only sSi3,hSo.
The amount paid by the Government ior the
transportation Of troops, munitions, stores ani
mails has been, and doubtless will continue 10 BE-
much more than the interest on the United States
Second Mortgage Bonds. IL II Is not, the charter
provides that afier the road Is completed, and un'
N said bonds and interest are paid, at least i've
per cent. of the net earnings OF the road shalI y
applied Ga such payment.
The Unios Pacific Bonds are for 81, 600 each,
and have coupons attached. They have thirty
years 10 run, and be5If annual INTEREST, rsrst--
ON the inst days of January and July at the com.
pany's otnce in the city Of New York. at the rate
Of SIX per cent, IN gold The principal i payable
in gold at maturity, AZ the present rate OF gold,
these bonds pay an annual income Oh their cost
OF nearly nine per cent and II Is believe that they
will soon h. at a premium,
The company have hut very limited supply a
their bonds remaining on hand, but any sui
/ scrptlons accepted 10 a greater amount than tan
be filled frum tonds nov IN the company's possfs-
HAnilt Will ~ tfNtA NV NV hNAtt4a W
issued IN that portion 81 The rad completed IN
the Spring, IA the ord,r m which they arc
CclyCd.
The company reserve the right 10 advance tn
pric, of thar bonds 10 rate above par at 'aBD
time and wall not nh any uTlCr- OF receive any
subscriptions On which the money has no, been
actually pad AZ the ouu4ptuy's office b,iufc Tie
time Of such advance
Parties subscribing viii remit the par value Ct
the bonds and the accrued interest ~ currency al
the rate 81 six pcr cent per anuuin, irun the date
on which the last coupon was pad. subscriptions
Will h. received m Euilaud by = W. koneh
Cashier OF the National Bank Of Rutland, Henry
+. FIcld, Cashier OF the Rutland county National
Bank, aud IN New York al the Compauys Othe,'
No 20 Nassau str e, and by john J. Cisco Son
Bankers, No SO Wall street, and by the eomfa.
uS's advertised agents Throughout the lni''d
states,
Remlttances should lie male IN drafts on uthtt
/ funds PAR in New York, and the Bonds wlll D.
sent Tree OF charge by return express. Parties
subscribing through local agents viii look %
\ them ior their safe delivery
I A pamphlet and map tar lsts, has JuNt ht'E
published ty the company, eNluE iulitL hlati4s
tion than is possible m advertise ueut, r'spi-
I ing the ppe,r,ss OF the Work, the Resources %,
/ the Country tTayorod by th, Road the Means -
Construction, and the Value OF the Bonds, "hith
viii b, sent free on application at thr company p
Offices, OF 10 any Of the advertised agents,
JOHN J. cisco
Treasurer New York,
I Apnl 10, lSCs. ar.o dSW "mo-