Litchfield enquirer. [volume] (Litchfield, Conn.) 1829-current, 1868-05-07
500 and 900 miles

will be in operation during 1868. There seems
to be no doubt that the Distance between Om-
aha and Sacramento will be traversed by rail
in 1870 =,
The Government Grants Il. 800 acres Of land
and its bonds to the average amount of &28.-
OOO per mile. to aid in the construction of the
line, and authorizes the issue of the First
Mortgage Bonds now offered for sale, to the
same amount aud no more. The Government
takes second lien, and gives to the First
Mortgage Bondholders prior lien for their &C.
curity, to which a large paid-up capital is ad-
ded. The bonds cannot be issued except "a
each section of 20 miles is accepted by gov
eminent commission, so that they always rep
resent real property.
1t is universally admitted that on the com
pletion OF the Union Pacific Railroad, its
through business will make it one of the most
profitable in the world-but its way or local
business is already several times tho interest
on its bonds; so that, if not another mile were
built, they would be secure investment.
The net earnings for eight months of last
year on an average of 386 miles are officially
reported at $ ,069 .l36, while the interest on
all the Bonds it could issue on that length of
road for that time, reduced to currency, was
only $345,856.
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 Unit
ed States Second Mortgage Bonds IF it ia not
the charter provides that after the road il com
pleted, and until said bonds and interest are
paid at least five per cent of the net earnings
of the road shall be applied to such payment
The Union Pacific Bonds are for $1,000 each
and have coupons attached. They have thirty
years TO run, and bear annual interest. paya-
BILE ON the first days of January and July at
the Company's Office in the city o; New York,
$I1pr ON o<NftHs n.n3.~
cipal is payable in gold at maturity, At the
present rate of gold, these bonds pay an annu-
al income on their cost of
NEARLY NINE PER CENT.
AND IT "a BELIEVED THAT THEY WILL SOON BE At
PREMIUM.
The company have but very limited supply
of their bonds remaining on hand, but any
subscriptions to o greater amount than can be
filed from bonds now in tho company's poss eS-
sion, will be supplied from the new bonds to
be issued on that portion of the road complet-
ed in the spring. in the order in which they
are received.
The Company reserve the right to advance
the price of their bonds to rate above par at
any Tina and will not fill any orders or re-
celYe any subscriptions on which the money
has not been actually paid at the company's
Parties subscribing will remit the par valve
of the bonds and the accrued interest in cur
rency ct the rate of six per cent. per annum,
from the date on which the last coupon was
paid.
Subscriptions will be received in Litchfield, by
Fl. r. Colt, Cashier, First National Bank Litchfeld
and in New York at the Companys Office, No. 20
Nassau st. John j. Cisco i son Bankers No SO Wall
st., and by, the Company's advertised agents
throughout the United States, of whom maps and
descriptive pamphlets may be obtained on applica-
ton. Remittances should be made in drafts or
other funds par in New York. and the bonds viii be
sent free Of charge by return express. Parties
subscribing through local agents, win look to them
for their safe delivery.
A pamphlet and map for 1868 has just been pub
hshed by the company, giving fuller information
than is possible in an advertisement, respecting
the progress of the work, the resources of the
country traversed by the road, the means for con-
str''ction, and the value Of the bonds, which win
be sent free on application to the companys offices
or to any of tho advertised agents.
JOHN. J. CISCO Treasurer, n Y.
Apr. TO- 1868. 2-tf