The Portland daily press., 1868-04-29
500 and 900 Miles,

will be in operation during 1868. There seems to be
no reasonable doubt that the 1,721 miles between
Omaha and Sacramento will be flushed in 1870
The means provided for the construction of this
Great National Work are ample. The United States
grants its Six Per Cent. Bonds at the rate of from
$4,000 to 200 per mile, for which it takes Sc
cond lien as security, and receives pay ment to a
large if not to the 1ul extent its claim in services.
These Bonds issued as each twenty mile section
is finished, and after it has been examined by United
States Com missioners and pronounced 10 be in all
respects first class road, thoroughly supplied with
depot repair Shops stations, and all the necessary
UoIng stock and other equipments.
The United states also makes donation of II, 500
acres of land along the line to the mile. which will be
source oflarge revenue to the Company.
The Company is also permitted to issue it's own
First Mortgage Bonds to amount equal to 1.-THE is
sue OF the Government and no more Hon. E. d.
Morgan and Hon. Cakes Ames are Trustees for the
BondiOlders, and deliver the Bonds to the Company
only the woik progresses that they always rep
resent an actaul and productive value. .t.a
The authorized capital OF the Company is One
Hundred Million Dollars, of which over eight and
one-hali millions have been paid in upon the work
already DONE
Contracts for the construction 914 miles west from
Omaha, comprising much OF the most difficult noun
tain work, have been made with responsible parties
at the average rate of thousand and fifty
eight dollars 1858 05s) per mile This price includes
all necessary car-shops, depots, stations, and all
other incidental buildings, and also locomotives,
passenger, baggage and freight cars, and other re-
quisite rolng-stock, amount that shall not be
less than 81, 800 per mile. ri 5.r ...-e z
1t is expected that when the road is completed
the through traffic of the only line connecting the
Atlantic and Pacific States will be large beyond pre-
cedent, and, there will be competition it can
always be d ne at profitable rates, and
The Earnings from Local or Way Business
are now Thres Times tn Interest
rA on their Bolds. % .-.T
1t will be no iced that the Union Pacific Railroad
is, in fact, 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-
eved that similar security is so carefully guard
ed, and certainly other is based upon larger or
more valuable property. A,t-. ~--
The Union Pacific Bonds are for $1,000 each and
have coupons attached. They have thirty years 10
run, and 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 principal is payable in gold at maturi
| ty. n Et 'r-Il- u--L r. Il
AZ e present rate OF golu, tnese oolius pay an an
| nual income on their cost of a b..
| NEARLY NINE PER CENT,
And IL is believed chat they will sosn bel
| ut premium. .-.t
| The Company have but a very limited supply
| their Bonds remaining on ha ud-but it is expected
that the first nstalment of the New Bonds to be is
sued on that portion OF the road to be completed this
| year, will be ready in May. el H - 3 .
Any subscriptions accepted to greater amount
| than can be filed 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 the right to advance the price
of their bonds to a rate above p at any time, and
will not fill any orders receive any subscriptions
ON which the money has not been actually paid at
the Companys Office before the time ofsuch advance.
Parties subscribing will remit the par value of the
and the accrued nteret in currency at the rate
Of six per cent. per annum, from the date on which