Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1868-04-29
T,HE UNION PACIFIC
RAILROAD COMPANY
OVER A LiMrED AHouSr oF THEIR
FIRST MORTGAGE BONDS

AT PAR,
PRINCIPAL AND INTEREST PAYABLE IN GOLD
The Great Pacific Railroad Line, extending 72 miles
from Omaha, the Missouri River to the tide-watars Of
the Pacific Ocean s being built by two powerful Compa
nicsrHr UNION PAcrFic, beginning at Omaha building
West and the Central Pacific Of California beginning at
Sacramento, building Fast, until the two roads shall
meet
Both Companies have prosecuted the work with great
vlgor the Union Pacific having already expended over
THIRTY MILLION DOLLARS,
and the Central Trentg Millions, upon their rcspcc
tive parts Of thc undertaking. THE UNION PACIFIC
HAVE COMPLETED $50 MILEs--have iron and other
materials for two hundred miles upon the ground
and one hundred additional miles are ready for the
track They will have much larger force employed
this year than ever hcorc and it ls expected that be-
500 AxD 900 MILES
viii be In operation during 1905 There seems to be no
reasonable doubt that the distance between Omaha and
Sacramento will be travcrscd by rail In 1870.
THE GOVERNMENT GRANTS i2,sO0 acres Of land,
and Ia Bonds the average amount Of $500 per mile
10 aid In the construction Of the line authorizes the
issue Of the First Mortgage Bonds offered for sale 10
The amount and no more. The Government takesa
otond lien and gives to the First Mortgage Boudhoders
prior lien for their security 10 which large
paidup capital is added. The Bonds cannot be- issued
except each section " twenty mles b. accepted by
Government commission, that they always reprcscnt
real property.
10 is universally admitted that the completion Of the
Union Pacific Railroad, rs through business will make
IL of the most profitable in the wordbut ia ay or
local business Is already several times the interest on ia
bonds that If not another mile were built they
would be secure Investment.
Ia.
average of3s0 miles officially reported at 81 900,
1876, while the interest all the Bonds could on
that length Of road for that time redacod to currency
was only s3ijsB
The amount paid by the Government Tor the transpor-
taton Of troops munitions, stores and mails has hecn
and doubtless will continue 10 be- much than the
interest the United States Second Mortgage Bonds. If
it not the charter proyes that amer tho road Is COM
peted and until said bonds and interest paid at lens
1--WE per cent Of the net earnings Of the road shall be- APP
piled to such payment
The Union Pacific Bonds arc for ooo each and have
coupons attached They have thirty years TO run, and
bear annual interest payable the first days Of January
and July at the Company Office Ia the city Of New
York at the mte Of six per cent In gold Tho Principal
payable in gold at maturity At the present rate Of
gold. these bonds pay annual income their cost
Of
NEARLY NINE PER CENT,
ND n IS BELiErED THAT THEY WfLL SOON be
Ar 4 PREMIUM
The Company have but very limited supply Of their
Bonds remaining hand hut any subscriptions accepted
10 greater amount than can be filled from Bonds In
the Company possession will be supplied from the New
Bonds to be issued that portion of the road completed
in the Spring, in the order in which they received
The Company the right to advance the price Of
their bonds TO a rate above par at any time and will not
fill any orders or receive any subscriptions which the
money has not been actually paid at the Company Of
fee before the time Of such advance.
Parties subscribing will remit the par value Of the
bonds and the accrued interest In currency the rate
six per cent per annum, from the date which the last
! coupon was paid Subscriptions will he received in
MONTPELIER by
MONTPELIER NATIONAL BANK,
and in New York
n The Company, Office, No. % Sa'sn, street,
ASn ny
John j. cisco & Son, Ban1ers, No. SO MAJ sheef
And by the Companys advertised agents
throughout the United States.
Remanees should be male drafts other fnas par il
Ner York and the BoHfs iH be seHt free Of charge return
cypress Parties subscribing through agents. H TOOL
! 10 them for their SAFE deArery.
! A PAMPHLET AND MAP FOR 1868 has just been pub
ished by the Company giving fuller information than il
possible In an advertisements respecting the Progress OF
the Work the Resources Of the Country traverse by the
Road the Means for Construction and the Value Of the
Bonds which will be sent free application at the
Comranys Offices to any of the advertised agents.
JOHN ]. CISCO Treasurer, New York
| April 10. 1865. 1922 daw
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