The Portland daily press., 1868-05-13
Completed $50 Mites,
500 and 900 Niles

Will NC III opeEdtlOH turing 1905 Inere seems to be
no reasonable doubt that the 1921 miles between
Omaha and Sacramento will be finished in 1870
The means provided for the construction of this
Great National Work are ample. The United States
grants its Six Per Cent. Bonds at the rate of from
$4,000 to S4S,OOO per mile, for which it takes Sc
coma ten as security, and receives pa, ment to
large if not to the u extent OF its claim in services
These Bonds are issued as each twentT mile section
is nm She'd and after has been examined by United
States Commissioners and pronounced 10 be in all
respects hr't class road, thoroughly supplied with
uepots, repair shops, Stations and all the necessary
IoIing stock and other equipments.
Inc United S ,ates also makes donation of r. 500
acres OF land along the line t. the mile which will be
source of large revenue to the Company.
The Company is also permitted to issue its own
FIRST Mortgage Bonds to an amount equal to the is
sue o. the Government and no more Hon. E. d.
Morgan and Hon. Cakes Ames are Trustees for the
Bondholders, and deliver the Bonds to the Company
only as the work progresses, that hey always rep
resent an actaul and productive value.
The authorized capital OF the Company is One
Hundred Million Dollars, of which over eight and
one-hali millions have been paid in upon the work
already done.
Contracts for the construction 9l4 miles west from
Omaha, comprising much OF the most difficult noun
coh WIN, nave pccH WIFI reSpOnSlDle partleS
at the average rate of sixty eight thousand and fifty
eight dollars (s6sO5s per mie This price includes
all necessary car-shors, depots, stations, and all
other incidental buildings. and also locomotives
passenger baggage, and freight cars, and other re-
quise rollingstock, to amount that shall not be
less than $1,000 per mile.
1t is expected that when the road is completed
the through traffic Of the only line connecting the
Atlantic and Pacific States will be large beyond pre-
cedent, and, as there will be competition it can
always be d me at profitable rates, and
The Earnings from LEGAL or Way usiness
are now Tires Times tn Int st
on their Be. de-.
1t will be no iced that the Union Pacific Railroad
is, in fact, A GOVERNMENT WORK, built under
the supervision OF Government officers and to a large
extent with Government money, and that its bonds
are issued under Government direction. 1t is be
eved that similar security is so carefully guard
ed, and certainly other is based upon larger or
more valuable property.
The Union Pacific Bonds are for $1,000 each and
have coupons attached. They have thirty years 10
and bear annual interest. ayable on the first
days OF January and July at the Company's Office
in the City of New Yes at the rate of six per cent
in gold The principal is in gold at MATURE
ty.
AT the present rate of god these bonds pay an an
nual income en- their cost of
NEARLY NINE PER CENT,
And IL is believed that they will soon be
at n premium.
The Company have but very limited supply Of
heir Bonds remain ing on haud-but II is expected
that the first nstalment the New Bonds to be is
sued on that portion of the road be completed this
year, will be really in May.
Any subscriptions &C ,epte to greater amour
than can be filed from Bon Is now in the Company's
possession, will be Supplied from the New Bonds in
the order in which they are received.
The Company reserve the right to advance the price
of their bonds to rate above pr at any time, and
will not fill any orders o, receive any subscriptions
on which the money has not been actually paid at
the Company IS Office before the time ofsuch advance
Parties subscribing will remit the par value of the
bonds and The accrued nteret in currency the rate
of six per cent. per annum, from the date which
the last coupon was paid. Subscriptions will be re-
ceiyed in Portlandby
Swan g. Barrett, rs Exchange ST.,
And in New York
At the COmpany's Office, No 80 Nassau ST.
John J. Cisco & Son, Ba kers, 59Wall 81,
And by the Companys advertised is through
out the United States.
Renitt1nces should be made in drafts or obe, funds
par an NeU YORK; and the Bonds Cilt be sent free
charge By return cypress. Parties Subscribing
through tocst dgeatS, ioH look TO- them for their saJe
deiioery.
A PAMPHLET AND MAP FOR 1868 has just
been published by the Company giving fuller nfor-
nation than is possible in advertisement re. rect-
ing the Progress OF the Work, the Resources of the
Country traversed by the Road. the Means Tor Con-
struction, and the Value OF the Bonds, which will be
sent free application at the Companys Office, OF
to any of the advertised rents.
30 I'm J. cisco, Treasurer, New Work.
April 10, 1868. apr2e-eod&w1m