The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1868-05-18

will be in ope ration during 1868. There seems to be
| no reasonable doubt that the 721 miles between
| Omaha and Sacramento will be finished in 1870.
The means provided tor the construction of this
| Great National Work are ample The United States
grants its Six Per Cent. Bonds at the rate of from
Sl6oOo to $4,000 per mile, for which it takes Sc
| coma hen as security, AMI receives pay ment to
large, If not to the ul extent its claim in services
THESE Bonds are issued as each twenty-mle sectiou
Is lin shed, and after it has been examined by United
States Commissioners and pronounced 10 be in all
respects fr class road, thoroughly supplied with
depos, repair Shops stations and all the necessary
IIoIing stock and other equipments.
The United states also makes donation of 10 800
acres of land along the line to the me which will be
a source oflarge revenue to the Company.
The Company is also permitted to issue its own
First Mortgage Bonds TO amount equal to the is
sue OF the Government and no more Hon. E. d.
Morgan and Hon. Cakes Ames are Trustees for the
Bondhoiders, and deliver the Bonds to the Company
only as the wolk progress that they always rep
resent an actaul and productive value.
The authorized capital OF the Company is One
Hundred Million Dollars, of which over eight and
one-halt millions have been paid in upon the work
already done.
Contracts for the construction 94 miles west from
Omaha, comprising much OF the most difficult noun
tain work, have been made with responsible parties
at the average rate of sixty eight thousand and fifty
eight dollars ($6s, O5S) per me This price includes
all necessary car-shors, depots, stations, and all
other incidental buildings, and also locomotives,
passenger, baggage, and freight cars and other re-
quisite roingstosk, to amount that shall not be
less than $7,5o0 per mile.
1t is expected that when the road is completed
the through traffic Of the only line connecting the
a lQnty 0r,1 q
ceden and, there will be no competition, it can
always be ne at profitable rates, and
The Earnings from Local or Way usiness
are now Three Tlmcs tn Int st
on their 30 ads.
1t will be no iced that the Union Pacific Railroad
is, in fact, A GOVERNMENT WORK, built under
the supervision OF Government officers and to large
extent with Government money, and that its bonds
are issued under Government direction. 1t is be
heved that no similar security is carefully guard
ed, and certainly no other is based upon larger or
more valuable property.
The Union Pacific Bonds are for $1,000 each and
have coupons attached. They have thirty years 10
run, and bear annual interest pay able on the first
days OF January and July at the Company's Office
In the City of New York, the rate of six per cent
in gold. The principal is payable in gold at MATURE
ty.
At the present rate of gold these bonds pay an an
nual income on their cost of
NEARLY NINE PER CENT,
And il is believed that they will soon be
at premium.
The Company have but very limited supply OF
heir Bonds remaining ON haud--but ii is expected
that the first instament ofthe New Bonds to be is
sued on that portion of the road to be completed this
year, will be ready in May.
ANY subscriptions accepted to a greater amour
than can be filled from Bonds now in the Company's
possession, will be supplied from the New Bonds In
the order in which they are received.
The Company reserve the right to advance the price
OF their bonds to rate above p,r at any time and
Will not fill any orders OF receive any subscriptions
on which the money has not been actually paid at
the Companys Office before the time of such advance
Parties subscribing will remit the par value of the
bonds and the accrued nteret currency at the rate
of six per cent. per annum, from the date on which
the lastcoupon was paid Subscriptions will be re-
ceived in Portlandby
Swan d Barrett, is Exchange ST.,
And in New York
At the Compnny's Office, No 60 Nassau st.
AND BY
John J. Cisco & Son, Bankers, 59WaIl st.
And by the Company's advertised Is through
out the United States.
RemiHances should be made in drafts or othe,fands
par in New York, and the Bonds ,ciu be sent free of
charge By return cypress Parties subscribing
Through tocstagents, aciu look to them for their SAFE
delivery. ~
A PAMPHLET AND MAP FOR 1868 has lust
peen published by the Company, giving fuller infor
nation than is possible in advertisement re- pect-
ing the Pregress OF the Work, the Resources of the
Country traveIsed BY the Road, the Means for Con-
struction, and the Value of the Bonds which will be
sent free on application at the Company's Office or
to any OF the advertised 'ents.
JOHN J. CISCO, Treasurer, New York.
April 10, 1863 apr2O-eod&w1m
GEX ER ~ EM