Litchfield enquirer., 1868-05-21
THE

AFFAIR,
 PRINCIPAL AND INTEREST PAYABLE IN GOLD.
 The Great Pacific Railroad fine, extending l72l miles from Omaha, on the Missouri riy- CT, to the tide waters of the Pacific Ocean. is Delng built by two powerful companies-The unlon Pacific being at Omaha, building west, aad the Central Pacific of California, begin ming at Saramento, building east, until the two roads shall meet.
 Both companies have prosecuted the work with great vigor, the Union Pacific having ex. penned over
 THIRTY MILLION DOLLARS, and the Central iover twenty million, upon their respective parts of the undertaking. The Union Pacific have completed $50 miles-have iron and other materials for 200 miles more upon the ground. and loo additional miles are ready for the track. They will have @ much larger force employed this year than ever be- tore, and 1t is expected that between
 800 and 900 miles will be in operation during 1868. There seems to be no doubt that the Distance between Om- aha and Sacramento will be traversed by rail in 1870.
 The Government Grants IF, 800 acres of land and its bonds to the average amount of @28,- OOO per mile. to aid in the constr uction of the line, and authorizes the issue of the First Mortgage Bonds now offered for sale, to the same amount aud no more. The Government takes a second lien, and gives to the First Mortgage Bondholders prior lien for their se- curity, to which large paid up capital is ad- ded. The bonds cannot be issued except as each section of 20 miles is accepted by gov ernment commission, 50 that they always rep resent real property.
 It is universally admitted that on the com. pletion ot the Union Pacific Railroad, its through business will make it one of the most profitable in the world-but it's way or local business is already several times tho interest on it's bonds; so that, if not another mile were built, they would be secure investment.
 The net earnings for eight months of last year on an average of 386 miles are officially reported at $1 ,O69 .l36, while tho interest on all the Bonds it could issue on that length of road for that time, reduced to currency, was only $345, ,856.
 The amount paid by the Government for the transportation of troops, munitions, stores and mails has been, and doubtless will continue to be. much more than the interest on the Unit ed States Second Mortgage Bonds. If it is not the charter provides that after the road is com pleted, and until said bonds and interest are paid at least five per cent of the net earnings of the road shall be applied to such payment
 The Union Pacific Bonds are for @lOO0 each and have coupons attached. They have thirty years to run, and bear annual interest. paya- ble on the first days of January aud July at at the rate of six per cent. in gold. The Prin- cipal is payable in gold at maturity, At the present rate of gold, these bonds pay an annu- al income on their cost of
 NEARLY NINE PER CENT. AND IT IS BELIEVED THAT THEY WILL SOON BE AT
 PREMIUM.
 The company have but very limited supply of their bonds remaining on hand, but any subscriptions to greater amount than can be filled from bonds now in the company's posses sion, will be supplied from the new bonds to be issued on that portion of the road complet- ed in the spring. in the order in which they are received.
 The Company reserve the right to advance the price of their bonds to rate above par at any time, and will not fill any orders or re- ceiYe any subscriptions on which the money has not been actually paid at the company's office before the time of such advance.
 Parties subscribing will remit the par valve of the bonds and the accrued interest in cur rency at the rate of six per cent. per annum, from the date on which the last coupon was paid.
 Subscriptions will be received in Ltchfield. by H. R. Colt, Cashier, First National Bank Litchfeld and in New York at the Company's Office, No. 20 Nassau st. John J. Cisco & son Bankers No 59 Wall sk, and by the Company's advertised agents throughout the United States, of whom maps and descriptive pamphlets may be obtained on applica- tion. Remittances should be made in drafts or other funds par in New York, and the bonds will be sent free of charge by return express. Parties subscribing through local agents, will look to them for their safe delivery.
 A pamphlet and map for 1868 has just been pub lished by the company, giving fuller information than is possible in an advertisement, respecting country traversed by the road, the means for con struction, and the value of the bonds, which will be sent free on application to the companys offices or to any of the advertised agents.
 JOHN. J. CISCO, Treasurer, N. Y.
 Apr. 10, 1868. 2-tf