Delaware tribune. [volume] (Wilmington, Del.) 1867-1877, 1868-09-10
ESQ MILES
ESQ MILES
U N ION p ACIFIC
RAILROAD

U N L ON p A CT FL G
RAILROAD
Are now finished aud in operation. Although this
road is built with great rapidity, the work is tho
roughly DONE and is proaounced by the United States
Commissioners to be rstclass in every respect, be-
fore it Is ,pted and before any bonds be is
sued upon 1t.
Rapidly and excellence of construction have been
secured by aeomplete division of labor, and by dis
tributing the twenty Thousand men employed along
tie line for long distances at once. 1t is proba
Bile that the !,
Whole line to the Pacific Will be COM
p1eted in 1869.
The Company have ample means Of which the
Government grants the right of way, and all neces-
sary timber and other msterials found along the line
of its operations; also 12.sOO of land to the
MILE taken in alternate sections on each side of its
road also United States Thirty-year Bonds, amount
ing to from S16 900 to s4s 900 per mile according to
the difficulties to be surmounted on the various Sec
tons to be built, for which 1t takes second mort
gage security and it is expected that not only the
interest, but the principal amount may be paid in
service rendered by the Company in transporting
troops, mails, DC.
THE EARNINGS OF THE UNION PACIFIC
RAILROAD, from its Way or Local Business only,
during the year ending Juue 8oth 1865 amounted to
over
FOUR MILLION DOLLARS,
which. after paying all expenses was much more than
sufficient to pay the interest upon its Bonds These
earnings indication of the vast through traffic
that must follow the opening of the line to the Pa
ciic, but they certainly prove that
First Mortgage Bonds
upon such aproperty 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 jam airy
and July at the Company's Office la the City of New
York, at the rate of six per cent in gold. Tho prn-
c'pa is payable in gold at maturity. The price is
lO2, and at the present rate of gold they pay lib
eral income on their cost.
very important consideration in determining the
value Of these bonds is the length Of time they kape to
run.
1t is well known that long bond always COM
mands much higher price than u short one 1t is
safe to assume that during the next thirty years. the
rate of interest u the United States will decline as it
has done in Europe, and we have right to expect
that such six per cent securities as these will be held
at as high premium as those of this Government,
which in 1851, were bought in at from 20 to 2s per
cpn Tha az md ali may
ducc this result and as the issue of private corpo-
ratiop they beyond The reach of political action.
The Company believe that their Bonds, at the pres
ent rate the cheapest security in the market, and
the right to advance the price at any time is reserved
Subscriptions will be received in Wilmington by
FIRST NATIONAL BANK.
RR. ROBINSON q co.
JOHN MoLEAR & SON.
wooLsToN 3 Co
and in New York '
At the Company's.onice,lN mo. 20 Nassau st
John j. oIsse O. SON., Bankers, No. 90
Wall Street, fG
and by the Company's advertised agents throughout
si the United States. ftst
Remittances should be made in drafts or Other
funds par in New York. and the Bonds will be sen
fres of charge by return express. Parties subscri
bling through local agents, will look to them for thei
pafe delivery.
A PAMPHLET AND MAP FOR 1865 has just beef
published by the Company, giving fuller information
than possible in an advertisement, respecting tn
Progress CT the Work, the Resources of the Country
| traversed by the Road the Means for Constructor
and the Value of the Bonds, which will be sent FIRE
on application at the Company's offices or to any G
the advertised agents. ~ At-
JOHN ]. CISCO, Treasurer. New York.
aug5-3m-dSw.