Year: 1867

precious metals is now officially estimated
at 100000 1000 per annum, vastly
greater sum will be obtained as soon as
the Union Pacific Railroad opens the way
to the golden regions of the Rocky
Mountains Now, the difficulties and
cost of communication are so great, that
none but the very richest veins can be
worked; but with cheap transportation,
hundreds of thousands of hardy miners
will successfully develop other mines,
that, with less costly working, will be
even more profitable than the average of
those now in operation and the business
OF this constantly increasing mining in
I terest must pass over this road


The records of our shipping Offices show
that no less than $4,000 passengers now
annually travel by sea between the At
lantic ports and San Francisco; and these
reckoned at $3.50 each (about one half of
the steamer price, would produce reve
nue. of 81 100000


The overland travel is even greater
In single year, t~enty-seOem thousand
teams, comprising a vast number o! emf
/ grants and travellers, departed from two
| points only on the Missouri River on their
westward journey If the truth of this
/ statement was not familiar to all frontiers
men it might well be questioned. But
estimating the overland through travel at
the same figures as that by steamer, and
we have SIS, 900, 900 as the minimum es-
innate on the same number of passengers
! But the facilities for cheap and rapid
| PRO haA h,r Il Il IL,
! increases the amount of travel with the
same population. The difference between
! the numbers who would take an ocean
steamer or a prairie wagon and modern
| palace, car, with its luxurious state rooms,
where the traveller eats and sleeps almost
as comfortably as at home, may be as
great as the difference between the num-
bers who were jolted over the mountains
in an old fashioned stage coach and those
in an Express train between any two
great cities. Then, is it not safe to say
that this through travel will be at once
doubled on the completion of the road in
1870, and, with the rapid increase of Pa
cifc Coast population in the next few
years, more than quadrupled? Is it at
| all extravagant to assert that the thrOugh
passenger business during the first year
after the first train of cars runs from
! Omaha in Nebraska to Sacramento, will
be worth twenty-five million dollars p
! When to this we add half as much more
| for its lcdy passenger business, and more
than as much more then both for its
| freight, expresses and mails, etc, are
! there not the best reasons in the world
for the believing that the Union Pacific
Railroad will be one of the most proita.
bic as well as one of the grandest works
| Of modern times?


| THE SECURITY AND VALUE OF ITS BONDS.
We have made these calculations that
the public may have some brief data of
facts from which to form their estimate of
the value Of the Union Pacific Railroad
Company's First Mortgage Bonds. Be
sides, men of the greatest railroad expe-
rience in the country have shown their
confidence in the stock by liberal sub
scriptions, and this stock must be subor-
dinate to all other claims But there are
stronger proofs Of the security and value
of the First Mortgage Bonds than any
we have named:


l. That for the safety of the country as
well as national economy the road is in
dispensable


2. That by an investment of about fif-
ty millions in Second Mortgage on the
road, the Government practically guaran-
tees the principal and interest on the
First Mortgage.


The Company now offer limited
amount of its First Mortgage Bonds,
bearing six per cent. interest, payable
semi-annually in coin, at ninety per cent
This interest, at the current rate of pre-
MUM on gold is equal to nine per cent.
per annum on the price for which they
are now offered. The Company expects
to sell but small amount at this rate.
when the price will be raised, and like all
similar bonds they will finally rise to a
premium above their par value. The
subscribers to this loan will not only have
the advantage of very liberal interest aud
very safe security, but will also have the
satisfaction Of having assisted in the con
struction of the greatest national work of
the country.