Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1868-06-19
800 and 900 Miles,

Wv
will be in operation during 1868 There seems to
be no reasonable doubt that the distance between
Omaha and sacramento will be travcrsed by rail
in 1870.
The Government grants Il, 800 res of land, and
its bonds to the average amount OF $4,000 per
mile, to aid in the construction OF the line and
thorses the issue Of the First Mortgage Bonds
now offered for sale, to the same amount and no
more. The government takes second lien, and
gives to the First Mortg ge BondhoI,lers a prior
lien Tor their security, to which large pait,-up
capital is added. The Bonds cannot be issued ex.
cept AS each section Of twenty miles is accepted
by Government commission, so that they ALWAYS
repre- sent real property.
II is universally admitted that on the completion
OF the Union Pacific Rail- DAD, its through business
will make it one of the most profitable inthe world
but its way or local business is already several
times the interest or its bonds; that ii not and
other mile We're built, they would be a secure in.
yestment. The net earnings for eight months OF
last year on an average Of 1856 miles arc officially
reported at oG9l3G, while the interest all the
bonds II could issue on that length Of road for that
time reduced to currency, was only 1885,
The amount paid by the Government for the
transportation OF troops, munitions, stores and
mails has been and doubtless will continue to be,
| uch more than the interest on the Nnited States
second Mortgage Bonds. II it is not the charter
provides that alter the road is completed and un
til said bonds and interest are paid, Mt least five
per cent OF the net earnings Of the road shall I've
applied to such payment.
| The Union Pacific Bonds are for 81, 900 each,
and nave coupons attached. They have thirty
years TO run, and bear annual interest. payable on
The fist DAYS oil January and July mt the Compa.
ny's Office in the city OF New York. at the rate OF
six PR cent in gold. rhc Principal Is payable in
gold al maturity. At the present rate Of gold i,
these bonds pay an AM ua income their cost Of
NEARLY NINE PER CENT,
AND IT is RELIEVED THAT THEY WILL SOON BE AT
A PREMIUM.
The Company have but a limited supply of their
Bonds remaining on hand, but subscriptions
accepted to Il greater amount Than can be filled
from 30 dS now il the Con pany's possession,
will be supplied from the New Bonds to be issued
on that portion of the road complete in the Spring
in the order in which they are received The com
pany reserve the right to advance the price Of
their bonds to Il rate above par at any time, and
will not Ill. any orders or receive any subscrp-
tons which the money has not been actually
paid at the companys Office before the time of such
advance.
Subscriptions Will be received in Ellsworth by
A. F. DRINKWATER. Esq,
and in Bucksport by
ED WARD SWAZEY, Cashier of the Ma
tional Bank.
and in New York
At the Company's Office No. 30 Nassau st.
And by
JOHN. ). CISCO & SON, Bankers, No. SO
Wall street
And by the compahy's advertised agents through
out the United states.
Rcmittanccs should be made in drafts or other
funds par in New York and the Bonds will be sent
free OF charge ~ return express. Parties sub
scribing thrt ugh local agents, will look to them
for sllcIr safe delivery.
Pam Inlet and .nap for 1853 has just been pub.
lishc,i by the company, giving fuller information
the progress of the work, the resources OF the
country travcrsed by the road. the means for con-
struction, and the value OF the Bonds. which will
be seut free" on application ut the COmpauy's Of
noes or any of the agents.
JOIN j. Cisco, Treasurer,
New York.
April 10, ISIS. 3m 20