The Baltimore County union. [volume] (Towsontown, Md.) 1865-1909, 1868-12-05
Miscellaneous.
900 NJ i i E s
OF THE
UNION PACIFIC RAILROAD

Are now finished and in operation. Although
this road is built with great rapidity, the work
is thoroughly done, and is pronounced by the
United States Commissioners to be first class in
every respect, before it is accepted, and before
any bonds can be issued upon it.
Rapidly and excellence of construction have
been secured by a complete division of labor,
and by distributing the twenty thousand men
employed along the line for long distances at
once. 1t is now probable that the
Whole Line to the Pacific will be
Completed in 1869.
The Company have ample means, of which
the Government grants the right of way, and
all necessary timber and other materials found
along the line of its operations; also 1880
| acres of land to the mile. taken in alternate
sections on each side of its road also United
States Thirty year Bonds, amounting to from
6,0O0 to $4,000 per mile, according to the diff
| fcuties to be surmounted on the various sec
tions to be built, for which it takes a second
mortgage as security, and il is expected that
not only the interest. but the principal amount
may be paid in services rendered by the Com
pony in transporting troops, mails, &c.
THE EARNINGS OF THE UNION PACIF-
&c RAILROAD, from its Way or Local Bush
ness only, during the year ending June 3Olh,
1868, amounted to over
Four Million Dollars,
Which. after paying all expenses much
more than sufficient 10 pay the interest upon
its Bonds. These earnings are no indication rf
the vast through traffic that must follnw the
opening of the line To the Pacific, but they
certainly prove that
FIRST MORTGAGE BONDS
upon such a property, 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 annua. interest, payable OH the first
days of January and July at tn" C'nnpany's |
office in the City of New York. ut the rate on
six per cent in gold The principal is Imya
bic in gold at maturity. The price Is iO2 and
and at the present rate of gold, they pay lin |
eral income on their cost.
A very important consideration in detertin
ing the value of these bond, is tie length OF |
time they hdUe to run.
1t is well known that long bond alwa:s
commands d much hi slicr price than ii short
one. 1t is safe To assume that during the n~xt
thirty years. the rate OF interest i'll the United |
States will decline us il has done in Europe, |
and we have right to expect that such SIX |
per cent securities MS these will be held at M
high a premium those of this Government
which, in 1857, were bought in at from 20 t"s
per cent above par. The export demand alone
may produce this result. and as the issue OF
private corporation, they are beyond the reach
of political action.
The Company believe that their Boads, at
the presen: rate, the cheapest security IN
the market, and the right to advance the price
at any time is reserved
The price for the present is lO2 and accrued
interest ut the rate of<fx per C.. ut in currency
from July l.t, and subscriptions will be-
ceived in Balti,hore.
WILLIAM FISHER & SONS,
HOOPER, REESE CO.,
McKIM & CO.,
JOHNSTON BROS. & CO.,
And in New York
At the Company'x Office, No. 90 Nassau Street,
BY
John J. Cisco Son, Bankers, No. 80 Wall Street,
And by the Companys advertised agents
throughout the United States.
Remittances should be made in drafts on other
funds par in He,6 York, and the. AoaGs--@1 - . I
sent free Of Charge by return cypress. Parties
subscribn t4gegh local agents, aoiH look to them
for their ...-,~ ivery.
4 Pamphlet AND MAP FOR 1858 has |
just been published by the Company, giving |
fuller information than is possible in an adver-
tisement, respecting the Progress of the Work,
the Resources of the Country traversed by the
Road, the Means for Construction, and the Val
ue of the Bonds, which will be sent free on ap-
plicaton at the Company's offices or to any of
the advertised agents.
JOHN J. CISCO, Treasurer,
Sept l9.-3m. NEW YORK.