The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-09-24
UNION PACIFIC
Railroad Co.
Their FIRST MORTGAGE BONDS
As an Investment.
RailrOadCo.

The rapid progress of the Union Pacific Rail-
road now building west of Omaha, Nebraska,and
FORMING, with its western connections, an unbrok-
en- line across the continent attracts attention to
the value OF the First Mortgage Bonds which the
Company now offer to the public. The first ques.
ton asked by prudent investors is, care these
bonds secure2" Next, "Are they profitable in
vestment" To reply in brief:
LIST. The early completion of the whole great
line to the Pacific is as certain any future bus
mess event can be. The Government grant Of
over twenty million acres of land and fifty million
dollars in its own bonds practically guarantee it.
One-fourth of the work is already DONE and the
track continues to be laid at the rate of miles
a day.
I'd. The Union Pacific Railroad bonds are is
sued upon what promises to be one of the most
profitable lines of railroad in the country. For
many years it must be the only line connecting
the Atlantic and Pacific and being without COM
petition, it can maintain remunerative rates.
Sd. 425 miles of this road are finished, and
fully equipped with depots, locomotives, cars. &c
and two trains are daily running each way. The
materials for the remaining 20 miles to the east
base of the Rocky Mountains are on hand
and it is under contract to be done in September
4th. The net earnings of the sections already
finished several times greater than the gold
interest upon the First Mortgage Bonds upon
such sections and if not another mile of the road
were built, the part already completed would not
only pay interest and expenses, but be profitable
to the Company.
5th. The Union Pacific Railroad bonds can be
issued only as the road progresses, and therefore
can never be in the market unless they represent
bona tide property.
9Th. Their amount is strictly limited by law to
a sum equal to what is granted by the U. S. Gov
eminent, and for which it takes q second lien as
its security. This amount upon the first 5l7
miles west from Omaha is only $4,000 per mile.
9th. The fact that the U. S. Government con-
sders second lien upon the road good invest
ment, and that some of the shrewdest railroad
builders of the country have already paid in FIVE
million dollars upon the stock (Which is to them
q third lien) may well inspire confidence in first
lien.
Sth Although it is not claimed that there
be any better securities than Governments, there
are parties who consider first mortgage upon
such property as this the very best security in
the world, and who sell their Governments to
invest in these bonds-thus securing greater in
terest-
9th. As the Union Pacific Railroad bonds are
offered for the present at 80 cents on the dollar
and accrued interest, they the cheapest sscur-
| ty in the market, being more than Is per cent.
| less than Z. S. Stocks.
| 10th. At the current rate of premium on gold,
| they pay
Over Nine Per Cent. Inter est.
| The daily subscriptions are already large, and
they will continue to be received in New York by
| the
| CONTINENTAL NATIONAL BANK, No. Z Nassau
| Street,
| CLARE, DODGE l. Co., BANKERS, 81 Wall St.
| JoHS J. CISCO & SoE, BANKERS, No. 80 Wall
1 Street,
and by BANKS AND BANKERS generally
| throughout the United States, of whom maps and
| descriptive pamphlets may be obtained. They
| will also be sent by mail from the Company s
Office, No. 20 Nassau Street, New York, on appli-
| ,ation. Subscribers will select their own agents
| in whom they have confidence, who alone will be
| responsible to them for the safe delivery of the
| bonds.
| JOHN :. CISCO,
| TREASURER,
| NEW YORK.