The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-01-22
UNION PACIFIC RAILROAD CO.
And
Central Pacific Railroad
FIRST MORTGAGE BONDS.

tlon with rupldity that asionishes the world.
over fGecs l5OO) hUidNeG mites have been built
by two (2) powerful companies the Union
Pacific Railroad, beginning at Omaha, building
west ard the Centrsi Pacific Railroad, begin
ming at Sacramento. ana building east, until
the two roads she'll meet Less than two hun
.lred and fifty na,les remain to be built The
grraater mart OF the interval is now graded, and
~ Is reasonsbly expected that the through
y.nnneetion Eetween san Francisco and New
York win 10 completed 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 to
great Efforts to secure the construction and
control of what, when completed, will be one
and The only grand R~iJroad Line connecting the
Atlantic and Pacific coasts.
one Hundred and Ten Million Dollars
(sllU UOO0OO0) in money nave already neen eX'
pended by the two powerful companies eu-
seRed in This great enterprise, aud they Will
speedily complete the portion yet 10 be bullt.
When the United States government found II
necessary 10 secure the construction of the
Pacific Railroad, To develop and protect its own
interest, II gave the companies a9tnorl5ed TO
speeuy completion beyond douOt The Gov
eminent aid may be briefly summed up as
First. The rIght OF way and all necessary
timber and stone from puollc demain.
second, II makes q donation of IL 800 acres of
land to the mile, which, when the road is com.
peted, Will amount 10 twenty three million
T6ird, II loans the companies fifty million
dollars (s5O,OOOOOO), for which II taxes second
Tne Government has already loaned the
Union Pacific Railroad twenty four million
and fifty.eight thousand dollars 1921 05S O0O),
aud to tue Central Pacific Railroad seventeen
million six hundred and forty-eight thousand
dollars (Sl7, ,6iS 000). amounting in all to forty
one mil ion seven hundred and six thousand
dollars (s4l 7O60OO. ,..
The Com panies are permitted TO issue their
own First Mortgage BOnd1 to the same amount
as they receive from the United states, and no
more, Tue companies nave sold TO permanent
investors about $40 OO0,000 forty million dollars
of their FIRST Mortgage Bonds. The companies
naye Gresdy pranSs Pa from State Of
S, cramento city and San Frdnciscol up
wal DIS of 1925 900 900 twenty-five million dollars
OF capital stocK'
WHAT is THERE YET TO BE DONE?
In considering this question it must be- re.
the road is contracted for, ana the largest por-
tiOn paid for and now delivered on the line of
the Union Pacific Railroad and the Central
Pa acihc Railroad, 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 S9VO0,000 addl-
second They can issue their own First Mort
gage Bonds for about SO 900, 600 additional.
Third. The companies now hold almost all
the land they have up to ibis time received
from the Government; upon the completion of
the road they will have received in ali 23 900 900
acres, which at Sl5O per acre would be worth
In addition to the above the net earnings of
the roads and additional capital. II necessary,
could be called in TO finish the road
WAY BUsINESs-ACTUAL Z ARNINGs.
No one has ever expressed doubt that as
soon as the roaa is completed its Through busi-
ness will be abundanIIy prohtaoie.
Gross earnings of the Union Pa
ciic Railroad Company for Sit
months, ending j anuary lst, 1869,
The earnings Of Central PaciGS
Railroad. for six months, end
Ing January lst, 1869, were 81, ,75O,O 600 gold
Expens enses......"...,..S5900OV O VOO gold
'A''' '''''''''''''''''''' 100000
Net profit OF Central Pacific Rail-
road, after paying all interest
and expenses for six months. .." $3.50, 900 gold
The present gross eal nings OF the Union and
Central Pacific Railroads are l2OO,O0O monthly
HOW 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 intoraatinn:-
Ships going from the Atlantic
around Cape Horn, lOO................ 80 900 tons
Steamships conf Getting at Panama
with California and China, d.. 10000
Overland Trains, Stages, Horses,
Here we have two hundred and thirty thou
sand tons carried westward ana experience
has shown that in the last few ye trs the return
passengers from California have been nearly
as numerous as those going.
HOW MANY PASSENGERS ARE THERE?
We make the following estimate:-
1l0 Steamships (ooth wsys) 10000 actual for '6S)
200 Vessels O1l estimated I"
Overland IOOOD
Number per annum-ml74 900
Present price (everaging hall he cost OF the
Steamshlps), for both passengers and tonnage,
gives the following RESULT
IVA OO0 passengers at $l00....... Sl7 400 900
100000 TOMS rated al 81 per ouOc tOoJ.. $780, 900
s88 OOO
Basing calculations upon the above figures,
without allowing for the large Increase OF bust.
ness which can safely be looked for, then esti-
mate the running expenses a. one half and we
have q net income Of Sl652O,0OG which, after
paving the interest on the First Mortgage
Bonds and the advances made by the Govern
ment would leave net annual Income of
100000 over and ABOVE all expenses and
interest.
The First Mortgage Bonds Of the Union
Pacific RailrOrd Company and the First
Mortgage Bonds OF the Central Pacific Rail-
road Go. are both, principal and Interest,
payable in gold coin; they pay six per cent.
Interest In gold coin, and Iun for thirty
years, and they cannot be paid before that
lime without the consent 0fthe holder.
First Mortgage Gold Bonds or the Union
Pacific Railroad for sale at par and ac-
crued Interest, and First Mortgage Gold
Bonds OF Central Pacific Railroad at IO3
and accrued interest.
nTS YYRYYYaNY a nDn