The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-09-19
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PACIFIC
s'qeRailrOadCo.
Their FIRST MORTGAGE BONDS
As an Investment.


The rapid progress of the Union Pacific Rail-
road, now building west of Omaha, Nebraska,and
forming, with its western connections. an upbrok-
en- line across the continent attracts attep to
the value of the First Mortgage Bonds which the
Company now offer to the public. The first ouss-
ton asked by prudent investors is, "Are these
bonds seeure?" Next, "Are they profitable in
vestment?" To reply in brief:
LIST. The early completion of the whole orsst
line to the Pacific is certain as any future bus
mess event can be. The Government grant of
over twenty million of land and fifty million
dollars in its own bonds practically guarantee il
one-fourth of the work is already done, and the
track continues to be laid at the rate of two 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 onI. 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 90 miles to the east
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and it 10 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.
| 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
a bona Jide 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 second lien
its security. This amount upon the first SIT
miles west from Omaha il only $4,000 per mile.
9th. The fact that the U. s. Government con-
siders second lien upon the road a 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
a third ien) may well inspire confidence in first
lien.
Sth. Although it is not claimed that there can
are parties who consider a first mortgage upon
| Sucn Il properly tnfs the very Dest security IN
the world, and who sell their Governments to re
invest in these bonds-thus securing greater in
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
lees than U. S. Stocks.
10th. At the current rate of premium on gold
they pay ....a..-
over Nine Per Cent. Inter est.
The daily subscriptions are already large, and
they will continue to be received in New York b,
| the
E CONTINENTAL NATIONAL BANK, No. I Nassau
, Street.
CLARE, DoDGE 4 Co., BANKERS, 81 Wall ST
JOHN J. CISCO d Son, BANKERS, No. SO Wal
Street,
and by BANKS AND BANKERS general,
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. 30 Nassau Street, New York, on appl
cation. Subscribers will select their own agents
> in whom they have confidence, who alone will b,
!, responsible to them for the safe delivery Of tn,
j bonds.
JOHN =. CISCO.
TREASURER,
- NEW YORK.
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