Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1868-01-03
.525 MILES
or fnE
UNION PACIFIC RAILROAD
RUNNING WEST FROM OMAHA
ACROSS THE CONTINENT,
ARE NOW COMPLETED.
lRE NOW COMPLETED.

THIS brings tho Inc to the eastern base Of the
Rocky Mountains, and If expected that the track
Wil be laid thirty miles further, to Evans Pass,
the highest point on the road, BY January. The
maximum grade from the foot Of the mountains to
the sumit is bat eighty feet to the mile, while
that Of many eastern roads Is over one hundred
Work on the rock-euttng on the western slope
viii continue through the winter. and there Is now
no reason TO doubt that the entire grand line to the
Pacific viii be open for business in 1879.
The means provided for the construction Of this
Great National Work are ample The United
STATUS grants It's Six per cent Bonds at the rate
Of from slG000 to S4s,0 600 Per mile, for which it
takes a second lien as security and receives pay
ment 70 large If not TO the full extent Of its
claim ia services. These Bonds are Issued as
each tweuty-milc section is finished, and after it
has been examined by the United States Com
nissioaera and pronounced to be in all respects a
frst-eass road, thoroughly supplied with dcpots'
zspair shops stations, and all the necessary rolling
stock and other equipments.
Ihe United States also makes q donation Of
I2,sce acres Of land to the mile, which viii he a
source Of large revenue to the Company Much Of
this land in the Platte Valley is among the most
fertile in the world, and other large portions arc
covered with heavy pine forests and abound in
coal oftne best quality
The Company is alse authorized 20 iussuo its
own First Mortgage Bonds 20 an amount eqaa to
the issue Of the Government and no more. Hon
E. d. Morgan and Hon. 0akes Ames are Trustees
for the Bond-holders and deliver the Bonds to the
Company only as the work progresses, 90 that
they always represent an actual and productive
value
The authorized capital Of the Company is One
Hundred Million Dollars, Of which over five mil
lions have been paid in upon the work already
done
EARNINGS OF THE COMPANY.
At present, the profits Of the Company are de-
rived only from its local traffic, hut thsis already
much more than sufficient to pay the intersts on
all lhe Bonds the Company can issue, IL not an
other mile we're built. Il is not doubted that
when the road is completed the through traffic Of
the only line connecting the Atlantic and Pacific
States viii Sc large beyond precedent, and, as
there win be no competition, can always be done
az profitable rates.
1t will be noticed that The Union Pacific Rail
road is, in fact, a Goreraaent Work, built under
the supervision Of Government money, and that
its bonds are issued under Government directors
II is believed that no similar security is SO care
fully guarded, and certainly 20 ether is based
upon q large or more valuable property As the
Company
FIRST MORTGAGE BONDS,
are offered for the present at So CENTS ON THE
DOLLAR, they are the cheapest security ia the
market, being more than fifteen per cent. lover
than e. $. Stocks. They pay
SIX PER CENT. IN GOLD.
or over NINE PER CENT. upon the investment.
Subscriptions viii be reciyed in Bedford by
RUPP AND SHANNON, and in New York at
| the Company's Office, No. 20 Nassau street, and
| by CONTINENTAL NATIONAL. BANK, No. Z
Nassau street, CLARK, DODGE CO., Bankers
No. 81 Wall street, JOHN J. CISCO & SON,
Bankers No. Sc Wall street and by the Compa-
/ ny's advertised agents throughout the United
States. Remlttances should be made in drafts oi
other funds par in New York, and the bonds vii
be sent free Of charge by return express. Partie
subscribing through local agents win look t
them for their safe delivery
| A NEW PAMPHLET AND MAP, showing tn
Progress Of the Work, Resources for Construction
end Value Of Bonds, may be obtained at tn,
Compauy's Offices or Gifts advertised Agents, oi
VIII be sent free on application.
JOHN J. CISCO, Treasurer, New York.
November %, 1867.