The Waynesburg Republican. [volume] (Waynesburg, Pa.) 1867-18??, 1868-05-13
Miseellaaeous.
NHE UNION PACIFIC


THE UNION PACIFIC
RAILROAD COMPANY Il
OFFER A LIMITED AMOUNT OFF THEN
FIRST MORTGAGE BONDS
AT PAR, .,
p A Y A B LIE IN GOLD,
The Great Pacific Railroad Line, extendius
i72l miles nom Omaha, on the Missouri river, 70
the tde-waters of the Pacific Ocean, is being
putt by two powerful Companies-The UNION.
Pacific, beginning at Omaha. building west,
and the Central Pacific of California, beginning
at Sacramento, building East, until the tv,o
roads shall meet.
Both Companies have prosecuted tho voth
with great vigor, the Union Pacific having Al.
ready expended over ,..
THIRTY MILLION DOLLARS,
and the Central over TWENTY MILLIONS uro,,
their respective parts OF the undertaking. Tho
Union Pacific have completed $50 miies-hsvs
ron and other materials for two hundred mile
more upon the ground, and one hundred addi
tional miles are ready for the trnclr They Wiu
have much larger force employed this yea
than ever before; and 1t is expected that between
500 AND 900 MILES
will be In operation during 1868. There seems 10
be no reasonable doubt that the distance be
tween Omaha and Sacramento will be traverssd
by rail In 1870. ...... .-f..t
THE GOVERNMENT GRANTS u, 800 acres OF
land, and Its Bonds TO the average amount Of
$4,000 per mile to aid In the construction Of the
line, and authorises the issue Of the first mort
gage Bonds now offered for sale, to the same
amount and no more. The Government takes
q SECOND lien, and gives to the First Mortgage
Bond holders prior lien for their security, 10
which large pald-up capital Is added: The
Bonds cannot be issued except as each section
of twenty miles Is accepted by Government
commission, SO that they always represent
real property. .4AAi.sra
II Is universally admitted that on the com.
pletion ofthe Union Pacific Railroad, Its Through
business will make It one Of the most profitable
In the world-but Its WAY or LOCAL business u
already several times the interest on Its bonds;
so that ff not another ff'fie were built, they
would be secure investment. III
THE NET EARNINGS for eight months Of
last year on an average Of ss8 miles are officially
reported at 81 O6a 1876, while the interest on all
the Bonds II could issue on that length OF road
for TINT tlme. reduced To currency was onIt
sSi5,S58. r-.e l.-. .sf.f.Ht IN.
The amount paid by the Government for the
transportation Of troops munitions, stores and
mails has been, and doubtless will continue TO
be much more than the Interest ON the United
States Second Mortgage Bonds II II Is not, the
charter provides that after the road Is compile
ted, and until said bonds and interest are pald
at least fve per cent: Of the net earnings OF the
road shall be applied to such payment
The Union Pacific Bonds are for o. 100
each and have coupons attached They have
thirty years to run, and bear annual inter:
est, payable ON the first days Of January and
July at the Company's Oflce In the City OF New
York. at the rate of six per cent. In gold. The
Principal Is payable in gold at maturity At
tho present rate Of gold, these bonds pay sn an
nual income on their cost Of t,, ,.,
NEADrv NINE tiER fENT
AND 1T Is BEI,fEyED THAT THEY WILL
SOON BE AT A PREMIUM.
The Companv have bute very limited supply
of their Bonds remaining ON hand, but any sub
scriptlons accepted to a greater amount than
can be filled from Bonds now in the Company's
possession. will be supplied from the New
Bonds to be Issued on that portion OF the road
completed In the Spring, in tho order In which
they are received.
The Company reserve the right to advance
the price of their bonds to q rate above par at
any time and will not M any orders or receive
any subscriptions on which the money has not