The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-01-29
UNION PACIFIC RAILROAD CO.
Central Pacific Railroad Go,
FIRST MORTGAGE BONDS.

by two (2) powerful companies; the Union
Pacific Railroad beginning at Omaha, building
west, and the Central Pacific Railroad, begin
ming az Sacramento, ana building east, until
the two roads shall meet. Less than two hun.
dred and fifty miles remain to be built. The
greater part of the interval is now graded, aud
IL Is reasonably expected that the through
connection between San Francisco and New
York will be co npleted by July l.
AS the amount OF Government aid given to
each Is dependent upon the length of road each
shall build, both companies are prompted 10
great efforts to secure the construction ana
control of what, when completed, will be one
and the only grand Raitroad Line connecting The
Atlantic and LdcIic coasts
One Hundred and Ten Million Dollars
(SllO, 600 000) In money have already been eX.
pended by the two powerful companies en-
gagged in this great enterprise, ana Jney Will
speedily com pIete the portion yet to be built
When the United States u JVern mont found 1t
necessary 10 secure the construction of the
Pacific Railroad, to develop and protect Its own
Interest, 1t gave the companies authorized TO
speeay pSsS ~ completiop Beyond doaot. The G1vS
ernment aid may be briefly summed up as
First. The right of way ard all necessary
timber and stone from puollc domain.
Second L. makes donatioo OF l2,60J acres OF
land to the mile, wnicn, when the road Is com
pIeted will amount TO twenty three million
23 600 OOO acres, and all of II within twenty Coy
Third IL loans the companies fifty million
dollars t8500O 0OO), for wnicn 1t takes second
The Government, has already loaned the
Union Pacific Railroad twenty.four million
aud fifty eight Thousand dollars 1924 i,Oj8, ,000)
and to the Central Pacific Railroad seventeen
million six hundred and torty-elght thousand
dollars (Si7, ,eIS 900) amounting in all to forty
one milion seven hundred and six thousand
The Companies are permitted To issue their
own First Mortgage Bonds to the same amount
as they receive from the United States, and no
more Tue companes nee na nave soid 10 permanent
of their First Mortg age Bonds. The companies
have already paid Ia tinciuding net earnings
not divided, grants from State OF California, and
Sacramento city and San Franciscol. up
wards of (s25 900 OOO) twenty-five million dollars
of capital stock.
wEAT IS THERE YET TO BE DONE?
In considering this question IL must be re.
raembered that all the rem aiming iron to finish
theroad is contracted for, auA the largest por-
ton paid for and now deliverei on the line OF
Paeic s P Railrosd and that the grading is almost
finished.
WHAT RESOURCES HAVE THE COMPA.
MES TO FINISH THE ROAD?
First. They will receive from the Government
as the road progresses about S9,9O0.OOo addi-
second. They can issue their own First Mort
gage Bonds for about So 600 900 additional.
Third. The com mpantes now hold almost all
the land they have up to this time received
from the government; Don the completion M OF
acres, which at $l'50 per acre would be worth
s345OO.OOO.
the roads and additional capital. II necessary,
could be called In 10 finish the road.
WAY BUSINES5-ACTUAL EARNINGS.
No one has ever expressed doubt that as
soon as the road is complete It's through busi-
ness will be abundanty profitable.
Gross earnings Of the Union Pa
cifc Railroad Company for sac
months, ending anuary LIST, 1869,
were upwards sof...................... W, 200 QUO
The earnings of Central Pacific
Railroad, for six months, end
Ing January lst. 1868, were g., ,75O 900 gold
ExpeDses.. .........,"...s550.0 . .00O gold
Ah'ei 'S '''''''' '''''''''''' 1850 1850 100000
Net profit OF Central Pacific Rail
road, after paying all interest
and expenses for six mon tbs $3.50 900 gold
The present gross earnings OF the Union and
Central Pacific Railroads are 81 100000 monthly
row LARGE A BUSINESS Is 1T SAFE TO
PREDICT FOR THE GREAT PACIFIC
We would give the following facts derived
from Shipping Lists. Insurance Companies.
Railroads and general iniormation:-
Ships going from lhe Atlantic
around Cape Horn l00..,.."....... 80, 600 tons.
steamships connecting at Panama
with California and China, 5).......l20,000
Overland Trains, Stages. Horses. ~ ma
I Here tS we have two hundred aud tSry thou
sand tons carried westward, ana experience
has shewn that that In the last lev years the return
as numerous as those going.
HOW MANY PASSENGERS ARE THERE ?
We make the following estimate:-
M llS S.esnshSps (ooth "ays) 7009 !aStnsi fof SS
Overland 100000
Number per annuun..,l74 600
Present price averaging half The cost OF the
eteamshsps) for both passengers and tonnage,
gives the following RESULT -
174000 passengers al $t00.",.... .....Sl7 400 0O0
100000 tons, rated at I'll per cuplc tooJ 1880 900
S38 O,OOO
Basing calculations upon the above figures,
Without allowing for the large increase of busi-
ness which can safely be looked for, then esti-
mate the running expenses at one half and we
nave a net income of Sl8,520, ,000 which, after
paying the interest the First Mortgage
ment, would leave net annual income o.
S0OOOO0O over and above all expenses and
interest.
The First Mortgage Bonds OF the Union
Pacific RaiIrOrd Company and the Firs'
Mortgage Bonds of the Central Pacific Rail
rOad 20. are both, principal and interest,
payable in gold coin; they pay six per cent
Interest in gold eein, and nn for thirty
years, and they cannot he paid before tna'
lime without the consent Ofthe holder.
First Mortgage Gold BOads or the Union
Pacific Railroad for sale Mt par and ac-
crued interest, aud First Mortgage Gold
Bonds Of Central Pacific Railroad at 1Oa
and accrued interest.
ne HAVEN r. RR0