The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1868-09-26
T,IGHT HUNDRED MILES
OF THE
UNION PACIFIC RAILROAD

" Nv
ARE NOW FINISHED AND IN OPERATION.
Although this road is built with great rapidly the
work is thol oughly done and is pronounced by the
United States Commissioners to be frstclass In
every respect before 1t Is accepted and before any
bonds can be issued upon it
apidity and excellence of instruction have been
secured by complete division Of labor, and by dis
tr1butng the twenty thousand men employed along
the line ior long distances al once 1t is now prob
able that the
WHOLE LINE TO THE PACIFIC WILL BE CON-
PLETED IN 1859.
The Company have ample means Of which the gov
ernment grants the right OF way. and oil necessary
timber and other materials found along the line OF
its operations; aso 800 acres Of land to the mile,
taken in alternate sections side OF its road;
ALSO United States thirty-year bonds, amounting to
from sic, ,00U to $4,000 per mlle according to the
difficulties to be surmounted on Tho various sections
to be built, for which 1t takes second mortgage as
security, and 1t is expected that not only the inter
est, but The principal amount may be rafd In ser
vices rendered by the Company in transporting
troops, mails, &c.
IHE EARNINGS OF TIE UNION PACIFIC RAIL
ROAD, from its way or local business only, during
the year ending June 30th, 1868. amounted to over
FOUR MILLION DOLLARS,
which, after paying all expenses was much more
han sufficient to pay the interest upon its Bonds.
These earnings no indication OF the vast through
traffic that must follow the opening of tho line to the
Pacific, but they certainly prove that
FIRST MORTGAGE BONDS
upon such property, costing nearly three times
their amount,
Are Entirely Secure.
The Union Pacific Ponds run thirty years, are for
$1,000 each, and have coupons attached They bear
annual interest payable on the first days of January
and July at the C0mpanys Office in the City OF New
YORK; at the rate of FIX per cent in gold. The prin-
cipal is payable In gold at maturity. The price lie
102 and at the present rate of gold. they pay Ibe-
raj income on their cost
very important consideration in determining the
value of these bonds is THE LENGTH OF TIME
THEY HAVE 10 RUN.
It Is we'll known that long bond always commands
much higher p.ice than short one. 1t is safe to-
assume that during the next thirty years. the rate of
interest in the United States will dec inc 1t has
done in urope, an6 We have right to expect hat
such six per cent securities these will be he at
as high premium as those OF this government,
which, in 1857, bought in at 20 to % per cent
above par. The export demand alone may produce
this result and as the issue of ivate corporation,
they are beyond the reach Of political action.
The Company believe that their Bonds, at the pre-
sent rate ace the cheapest security in the market
and the right to advance the price at any time is
reserved. S1bsc iptio-s will be received In New
York OF the
COMPANY'S OFFICE, No. 20 NAsSAU.sT., ,
AND BY
JOHN j. CISCO & SON, Bankers,
No. SO wALL-sTREET,
And by the Company's Advertised Agents
throughout tho United States.
aF Remittances should be made In drafts or
other funds par in New York, and>the Bonds will be
sent ree of charge by return express Parties SUBJ
scrihng through local agents viii iook to them for
their safe delivery.
%APAMPHLET AND MAP FOR 1858 has lust
been published by the Comoany giving fuller infor.
nation than Is possible in an advertisement respect
ing the Progress Of the Work. the Resources of the
Country traversed by the Road, tie Means for Con-
structon, and the Value OF the Honds which Will be
sent free ON application at the company's onces, or
to any Of the advertised Agents.
JOHN J. CISCO, Treasurer,
September 10 limo New York.