Year: 1867

PROSPECTS FOR FUTURE BUSINESS.


1t needs no argument to show that the
traffic of the onlyoafailroad connecting the
Atlantic and the Pacific, and passing through
the great mining region, must be immense.


Although our annual product of the pre-
cious metals is now officially estimated at
$l00,000,000 per annum, a 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 communi-
cation are so great, that none but the very
richest veins can be worked; but with cheap
transportation, hundreds of hardy miners
will successfully develope 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 constant
ly increasing mining interest must pass over
this road.


The records of our shipping offices show
that not less than $4,000 passengers now
annually travel by sea between the Atlantic
ports and San Francisco and these reck-
oned at $3.50 each (about one half the
steamer prices) would produce revenue of
$7,500,000.


The overland travel is even greater. In
single year, ttcentyseren thousand teams,
comprising vast number of emigrants and
travellers, departed from two points only on
the Missouri River ON their westward jour
ney. If the truth of this statement was not
familiar 10 all frontiers men, 1t might well
be questioned. But, estimating the overland
through travel at the same figures as that
by steamer, and we have $l5,000,000 as
the minimum estimate on the same number
of passengers. But the facilities for cheap
and rapid transit furnished by railroad al
ways vastly increases the amount of travel
with the same population The dinerence
betweon the numbers who would take an
ocean steamer or a prairie wagon and a
modern palace-car, with its luxurious state
rooms, where the traveller eats and sleeps
almost as comfortably as at home, may be
as the difference between the numbers who
were jolted over the mountains in an old
fashioned stage-coach and those in an Ex-
press train between any two great cities.-
Then, is 1t not safe to say that this through
travel will be at once doubled on the com.
pletion of the road in 1870, and, with the
rapid increase of Pacific Coast population
| in the next few years, more than quadrupl-
ed? 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 acdy passenger business, and more than
| as much more than both for its freights, ex.
presses and mails, ETC., are there. not the
| best reasons in the world for believing that
| the Union Pacific Railroad will be one OF
most profitable as well as one of the grandest
| works of modern times?


| THE SECURITY AND VALUE OF IT'S BONDS.
We have made these calculations that the
public may have some brief data of facts
| from which to form their estimate of the


Union Pacific Railroad Company's First
| Mortgage Bonds. Besides, men of the
| greatest railroad experience in the country


have shown their confidence in the stock by


liberal subscriptions, and this stock must


be subordinate 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 al


national economy the road is indispensable


2. That by an investment of about fft,


millions in a Second Mortgage on the road


the Government practically guarantees the
principal and interest on the first Mortgage


The Company now offer a limited amour


of its First Mortgage Bonds, bearing six pc


cent. interest, payable semi-annually in coin
at ninety per cent. This interest, at th'


current rate of premium on gold is equal Il


nine per cent. per annum on the price fo


which they are now offered. The Compan,,


expects to sell but small amount at thi


rate, when the price will be raised, and like


all similar bonds they viii finally raise to ;


premium above their par value. The sub


scribers to this loan will not only have tn


advantages of very liberal interest and yer.


safe security, but will also have the satisfac


ton of having assisted in the construction o
the greatest national work of the country.