Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1868-05-28
Railroads.
ME UNION PACIFIC Raj.

La NNloN IAOlfll RAIL
4 ROAD Company offer limited amount Of
shel fmsl Mortsase bonds at pan, principal and
/ The 0reat Pacific Railroad Line, extending lIal
miles nom Omaha, on the Missouri river, 10 Tho
Underwater Of the Pacific Ocean, Is being built by
two powerful eompaaies. The Union Pacific, be,
ginning at Omaha, building west, and the Cen,
trail Pacific OF California, beginning at Sacramento
building east, until the two roads shah meet.
Both companies have prosecuted the work with
/ great yigOT, the Union Pacific having already eX-
pended over thirty million dollars, and the Cen
tral over twenty millions, upon their respective
parts Of the undertaking, The Union Pacific
have completed $50 miles have iron and other
materials Tor two hundred miles more upon the
ground, and one hundred additional miles are
ready Tor the track. They will have much larger
force employed this year than ever before and Il
Is expected that between 500 and 800 miles will he
IN Liberation during lsds, There seems TO be no
reasonable doubt that the distance between oma-
ha and Sacramento Will be TayeHed by rail IN
The Government grants r. 500 acres OF land,
and its bonds % the average amount Of $4,000
per mile, 20 aid in the construction OF the line,
and authorizes the issue OF the First Mortgage
bonds now offered Tor sale, 10 the same amount
and no more. The Government takes a second
lien, and gives 10 the First Mortgage Bondholders
PRIOR lien tOT their security, 10 which larse
paid up capital Is added. The bonds cannot be
issued except as each section OF twenty miles Is
" hpNNfAtlthi NNiliAA..lullt NJ tNAt
they always represent real property,
IL y universally admitted that ON the compile
ton Of the Union Pacific Railroad its through
business will makert one Of the most profitable in
the world but It's way OF local business is alrcady
several times the interest on lie bonds; 81 that II
not another mile were built, they would be a
secure investment.
The net earnings for eight months Of las, year
on an average OF $50 miles are officially reported
At t,H9, 1856, while the interest on all the bonds
IN hat -, -
reduced 10 currency, was only s3i5, $50,
The amount paid by the Government for the
transportation Of Troops, munitions, siarrs ana
mails has been, and doubtless will continue 10 be-
much more than the interest On the United States
second Mortgage Bonds, II IL Is not, the charter
provides that after the road Is complctcl, and un.
I'll said bonds and interest are paid AZ least live
pr cent. Of the net earnings 81 the road shall De-
applied 20 such payment
The Union Pacific Bonds are ion 81 ,Oup each,
and have coupons attached. They have thuty
years 10 run, and bear annual interest, payable
on the nrst days al January and July at the COM
pany Office IN the city OF New York, at the rate
OF SIX per cent. IN gold. The principal is payable
IN eold at maturity, Al the present rate OF gold,
these bands pay an annual inenine IN than clSi
OF nearly nine per cent, and IL Is believe that they
will soon BE- AZ a premium,
The company have but very hui,el supply OF
their bonds remaining on hand, but any sub
scriptions accepted 10 greater amount than can
be Filled trum bonds now m the Company's pn>s,---
sion, will be supplied from the New bonds 10 d.
issued on that portion OF the rosl Completed IN
the Spring, in the order IN which they arc IT,
ceived
The company reserve the nigh, 10 advance The
price Of their bonds 20 a rate above pan az any
timc, and will not MI any Oriyrs OF receive any
subscriptions on which the money has not been
actually paid az the eomllnys office before the
time OF such advance.
Parties subscribing will mint the rat value cf
the bonds and the accrued interest IN currency al
the rate OF six per cent. Per annum, from the date
on which the last coupon was paid. Subscriptions
will be received in Rutland by >. ". RuweN,
Cashier OF the National Bank Of Rutland, Henry
+. Field, Cashier OF the Rutland County National
Bank, and in New York az the Comp1uy's Uttcy,
No. 20 Nassau street, and by John ], CISCO a Son
Bankers, No, 50 Wall street and by the eumIa-
ny's advertised agents Throughout the United
States,
RemittanceS should lie made in drafts or other
funds par in New York and the Bonds viii b.
sent free Of charge BY return expr,ss Parties
subscribing through local agents, will look 10
them for their safe delivery.
A pamphlet and map Tor isGS has lust been
published by the company, giving fuller Iniorma-
ton than Is possible in an advertisement, respect
ting the Progress Of the Work. the Resources OF
the Country traversed lsy the Road, the Means i0y
Construction, and the Value Of the Bonds, which
will be sent free on Application at thu company,
offices, or 10 any OF the ADVERTISED agents.
JOHN J. CISCO.
Treasurer, New York,
Aprll 10, 1865 apo lNW 3mus