Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1868-08-27
Railroads.
-sn Miles Of the UNION PACI-
] OO ElU RAII.ROAD aEe now aAlshed

a
toU nc RAILROAD are now anlshed
and in operation, Although this mad Is built
with great raplilty, the work Is thoroughly done,
and Is pronounced BY the United States Commas
sloners 70 b nrst-elass in every respyi, eeiuTe u
Is accepted, ami before any bonds can h issued
upon II.
Raplilty and excellence 81 construction have
been secured BY eomplcte division ui labor, AMI
BY distributing the twenty thousand men EN-
ployed along the line Tor hing DISTANCES AT oucs
II is now probable that the whole hne 10 the Pa
eire will BE completed in lssa,
The Company have ample means OF which thu
Government Grants the right Of way, ami all
necessary timber aud other materials iound along
the line % It's operations also H. $40 acrvs 81 land
10 the mile, taken IN alternate SECTIONS un each
siie Of It's road also United States ThlTty-ycaT
bonds, amounting To nun $4,000 To tisooO ~
mile, according TO the dlrreaties 10 be sunnount'
ed on the various sections 10 be built, iur which
it takes a second mortgage as security, and II Is
expected that not only the interest, but the pm
eipal amount may BE- paid in services rendered by
the Company in Transporting troops, mails, &C,
The earnings Of the Union Pacific Railroad,
from It's Way OF Local Business only, during the
year ending June seth, lSGs, amounted TO oyvr
POUR MILLION DOLLARS,
which, after paying all expenses was much NOR
than sufficient to pay the inters, upon ts bonds.
These earnings are no indication OF the vas,
through trathe that must follow the opening ui
the line 10 the Pacific, but they certainly prove
that first Mortgage Bonds upon such a property,
costing nearly three times their amount, are en-
tirely secure.
The Union Pacific Bonds run thirty years art
for $1,000 each, and have coupons attached
They bear annual interest, payable on the ttrs'
days Of January and July at the eomany's otiic,
IN the city OF New York, st the rate OF six pcr
cent. in gold, The principal is payable in gold a,
maturity, The price is lO?, and at the present
rate Of gold, they pay liberal income On then
cost.
A very important consideration in determining
the value ci these bonds i. the length OF time
they have 70 run.
II is vel known that a long bond always COM
manls much higher price than short one, II
Is safe TO assume that during the next Thirty
years, the rate Of interest in the United states
will decline as il has done in Europe, and W
have right 10 expecs that such SIX pr cent, So
eurities as these will bo held al as hugh prc'
MUM as those OF tins Government, which, N
1855, were bought in al from 20 10 % Ier cent
above par. The export demand alone may pro-
duce this result, and as the issue OF a private
corporation, they arr beyond the reach OF IolIl'
cal action.
The Company believe that their Bonds, a; tn,
present rate, are the cheapest security IN III,
market and the right 10 advance the price al any
time Is reserved.
~ Subscriptions will BE- received IN Rutland
by $. W. Rowell, Cashier Of the National Bank
of Rutland, Henry +. Field, Cashier of the But'
land County National bank, and IN New Iurl
at the Company's Office, No. 20 Nassau street
and by John j. Cisco 4 SON Bankers, No. 81
Wall street, and by the compauy's advertise,
agents throughout the United States.
RemIttanees should be made an drafts or othe
funds par in New York, and the Bond, will b'
sent free Of charge by return eNpreSs. fartic
subscribing through local agents, viii Iouk e
them for their safe delivery.
A pamphlet and map for ISIS, has just bvor
published 10y the company, giving fuller luioma
tion than is possible in an advertisement, respect
ing the Progress OF the " ork, the Resources o
the Country trayersed by the Road the Mrtns iol
Construction, and the Value Of the Bonds, whlyl
will be sent free on Application al thu company
offices, or 10 any Of the adver Used agents.
JOHN }. CISCO,
Trea siirrr New York.
Aup,fst u lsDS tN,4 H{ttt..