The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-09-21
UNION. PACIFIC
RaIrOadCo.
THEIR FIRST MORTGAGE BONDS
As an Investment.


The rapid progress of the Union Pacific Rail
road, now building west of Omaha, Nebraska,ap
forming, with its western connections, an unbrok-
en- line across the continent, attracts attention 70
the value of the First Mortgage Bonds which tbs
Company now offer to the public. The first ones.
ton asked by prudent investors lie. care thsss
bonds secure?" Next, "Are they prestabIa ;r-
vestment" To reply in brief:
list. The early completion of the whole ureo,
line to the Pacific is as certain any future bu
mess event can be. The Government pran, =.
over twenty million acres of land and ffty million
dollars in its own bonds practically guarantee II
one-fourth of the work is already done, and III.
track continues to be laid at the rate of two miles
a day. -
I'd. The Union Pacific Railroad bonds are il.
| sued upon what promises to be one of the mos,
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. AIS miller of this road are finished. and
fully equipped with depots, locomotives ears&c..
| and two trains are daily running each way. The
materials for the remaining 80 miles to the east
and it is under contract to be done in September
4th. The net earnings of the sections already
finished are 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.
9Th. 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 tfds 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 a second lien as
its security. This amount upon the first 5l7
| miles west from Omaha ia only SIG, 600 per mile
9th. The fact that the q. S. Government con-
siders a 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 can
be any better securities than Governments, there
are parties who consider first mortgage upon
sucu properly az THIS the very pest security IN
the world and who sell their Governments TO re-
invest in these bonds-thus securing greater H.
terest.
9th. As the Union Pacific Railroad bonds are
offered for the present at 90 cents the dollar
and accrued interest, they the cheapest securi
ty in the market, being more than Is per cent.
| less than U. S. Stocks.
10th. At the current rate of premium on gold,
| they pay
Over Nine Per Cent. Interest.
The daily subscriptions already large, and
they will continue to be received in New York by
the
CONTINENTAL NATIONAL BANK, No. I Nassau
Street,
CLARE, DoDGE i Co., BANKERS, 81 Wall St.
JOHN j. Cisco & Sos, BANKERS, No. SO Wall
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. 90 Nassau Street, New York, on appli-
cation. Subscribers will select their own agent,
in whom they have confidence who alone will be
responsible to them for the safe delivery of the
bonds.
JOHN =. CISCO,
TR z STTRER