The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1868-04-27
Completed $50 Niles,
500 and 900 MIZes

VIII De In operation during 1865 There seems to be
no reasonable doubt that the 1921 miles between
Omaha and Sacramento will be finished in 1870.
Inc means provided tor the construction this
Great National Work are ample The United States
grants its Six Per Cent. Bonds at the rate of from
$4,000 to $4,000 per mile, for which it takes Sc
coma lien as security, and receives par ment to a
large, if not to the lul extent its claim in services
THESE Eonds are issued each twenty mile section
is lin shed, and after it has been examined by United
States Commissioners and pronounced TO be in all
respects first class road, thoroughly supplied with
depots repair shops. Stations and all the necessary
TIoIing stock and other equipments.
Inc United states also makes donation of $500
acres OF land along the line to the mile which will be
source oflarge 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. Il. d.
Morgan and Hon. Cakes Ames are Trustees for the
Bondholders, and deliver the Bonds to the Company
only as the woik progresses that they 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 OF 914 miles west from
Omaha, comprising much OF the most difficult noun
tain work, have been made with responsible parties
at the average rate of thousand and fifty
eight dollars ($6S,05S per mi'e This price includes
all necessary car-shops, depots, Stations and all
other incidental buildings. and also locomotives,
passenger, baggage, and freight cars, and other re-
qusite rolingstock, to amount that shall not be
less than $500 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 no competition, it can
always be d ne at profitable rates, and
TIE Earnings from Local or Way Business
are now Tires Times til Interest
on their 30 ds.
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 large
extent with Government money, and that its bonds
are issued under Government direction 1t is be
Heved that no similar security is so carefully guard
ed, and certainly no 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
run, and bear annual interest. payable on the first
days OF January and July at the Company's Office
in the City of New York; at the rate of six per cent
in gold. The principal is payable in gold at matur-
ty.
AT the present rate of god these bonds pay an an
nual income on their cost of
NEARLY NINE PER CENT,
And il is believed that they will soon be
ut a premium.
The Company have but very limited supply Of
their Bonds remaining on haud-but il is expected
that the first nstalment of the New Bonds to be is
sued on that portion of the road to be completed this
year, will be ready in May.
Any subscriptions accepted to a greater amount
than can be filled from Bonds now in the Companys
possession, will be supplied from the New Bonds in
the order in which they are received.
The Company the right to advance the price
of their bonds to rate above pr at any time and
will not fill any orders receive any subscriptions
on which the money has not been actually paid at
the Company's 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 lastcoupon was paid. Subscriptions will be re-
ceived in Portlandby
Swan IL BaVrctt, rs Exchange ST,
And in New York
At the COmpany's Onice, No S"Nassau St.
AND BY
Soiin j. Cisco Il Son, Ksan lkers. 59Wallst,
And by the Company's advertised is through
out the United States.
RenaHances shoa'dbe made in drafts other funds
par in Ne'c York, and the Bonds aciH be sent free of
charge By return cypress. Parties subscribing
through Iocstagents, will look to them for their safe
delirery.
A PAMPHLET AND MAP FOR 1868 has just
been published by the Company, giving fuller infor
nation than is possible in advertisement, respect
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 on application at the COmpany's Office, or
| to any of the advertised 'ents.
gOzaN J. CISCO, Treasurer, New York .
April 10, 1863 apr2G-eodS5w1m