The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1868-09-22
NIGHT HUNDRED MILES
OF THE

UNION PACIFIC RAILROAD D.
ARE NOW FINISHED AND IN OPERATION.
Although this road Is built with great rapidity the
work is thor Ioughly DONE and is pronounced oy tae
United States Commissioners to be hrstclass IN
every respect before 1t s accepted and before any
bonds can be issued upon It
apidity and excellence of cons ruction have been
secured by q complete division of labor and by dis
tributing the twenty thousand men employed along
the line Tor long distances at once 1t is now PROB
able that the
WHOLE LINE TO TIE PACIFIC WILL BE COM
PLETED IN 1869.
The Company have ample means Of which the gov
ernment grants the right Of way. and oil necessary
timber and other materials found along the line OF
It's operatons Also 300 acres OF land to the mile
taken in alternate sections on cach side OF lts ROADS
also United States thirty-year bonds. amounting to
from $4,000 to S48 600 per mile, according to the
difficulties to be surmounted on the various sections
10 be built for which it takes second mortgage as
security and 1t is expected that not only the inter-
est, but the principal amount may be paid In ser
vices rendered by the Company IN Transporting
The EARNINGS OF THE UNION PACIFIC RAIL
ROAD, from its way or local business only, during
the year ending June 30th, 1858. amounted to over
FOUR MILLION DOLLARS,
which, after paying all expenses was much more
These earnings are no indication of the vast through
traffic tha! must follow the opening Of the line to the
Pacific, but they certainly prove that
FIRST MORTGAGE BONDS
upon such a property, costing nearly three times
their amount,
Are Entirely Secure.
The Union Pacific Bonds run thirty years, are for
$1,000 each, and have coupons attached. They bear
annual interest payable on the first days Of January
and July at the Company's Office in the City OF New
YORK; at the rate of six per cent in gold The prn-
cipa is payable in gold at maturity: The price Is
1O2 and at the present rate Of gold they pay hbe
A very important consideration in determining the
value Of these bonds is THE LENGTH OF TINE
THEY HAVE 10 Run.
It is well known that long bond Always commanas
much higher p.ice than short one. IL Is saie 70
assume that during the next thirty years. the rae OF
interest in the United States wilt decline as IL mas
done in Europe, and We have r1ght 10 expect mat
such six per cent securities as these WILL oe neId at
ma hioh a premium as those OF this government,
which, in 1857 were bought in at 20 to 23 per cent
above par The export demand alone may produce
this result and as the issue OF 1vate @ eorpoFuon'
The Company believe that their Bonds, at the pre-
sent rate, the cheapest security In Inc market,
and the right to advance the price at any time IS
reserved. Subsc iptio 8 will be received in New
York at the 81
CoMpANY'S OFFICE, No. 20 NAsSAU-sT.,
AND By
JOHN j. CISCO & SON, Bankers,
No. SO wALL-STREET,
And by the Company's Advertised Agents
throughout the United States
M- Remittances should be mado in drafts or
other funds par in New York. and the Bonds will be
sent free of charge by return express Parties sub
scribine through local agents will look to them for
their safe delivery.
PAMPHLET AND MAP FOR 1868 has just
been published by the Company, giving fuller infor-
nation than is possible in an advertisement respect
ing the Progress of the Work. the Resources of the
Country traversed by the Road, the Means for Con-
strucuon, and the Value OF the Bonds, which will be
sent free on application at the Companys Offices, or
to any of the advertised Agents.
JOHN J. CISCO, Treasurer,
September l9 LIMO New York