The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1867-09-05


The rapid progress of the Union Pacific Railroad,
now building west from Omaha, Nebraska and form
ing, with its western connections, an unbroken line
across tho continent attracts attention to the value
oftbe First Mortgage Bonds which the Company now
offer to the public. The first question asked by pru-
dent investors is, 'Are these bonds secure?" Next
"Are they profitable invesiment?' To reply in
brief: cs aa- 534l5e I lH
1st. The early completion Of the whole great line to
the Pacific is certain as any future business event
can be The Government grant OF over twenty mill
ion acres of land and fifty million dollars in its own
bonds practically guarantees it. One fourth OF the
work is already done and the track continues to be
laid at the rate OF two miles day. ~ I7ls
3D. The Union Pacific Railroad bonds are issued
upon what promises TO be of the most profitable
lines ofrailroad in the country. For many years it
must be the only line connecting the Atlantic and
Pacific; and being without competition, it can main
tain remunerative rates.
Sd. 425 miles of this road are finished, and fully
equipped with depots, locomotives, land two
transare daily running each way. The materials
the remaining % miles to the eastern base OF the
Rocky Mountains are on hand, and it is under con-
tract to be done in September Z q t8 ~ 4 Ca III
4h The net earnings ofthe sections already finish
ed are secerat times greater than the gold interest
up Iue rllSG upon SUCH SecflOnS,
and fnot another mile ofthe road were built, the
part already completed would only pay interest
an expenses but be prof ab!e to the Company.
9Th. The Union Pacific Railroad bonds can be issued
only as the road progresses and therefore never
be in the market unless they represent bona .fde
property. ffI .thEE E 4Fg
6fh Their amount is strictly limited by law to a
sum equll to what is granted by the U. s. Govern
ment, and DOR which it takes second lien its se-
cuiity This amount upon the first 517 rules west
from Omaha is only $4,000 per mile.
9Th. The fast that the U. S. Government consd-
ers second lien upon the road good investment,
and that of the shrewdcst railroad builders of
the country have already paid in five million dol
lars upon the stoch which is to them a third len)
may well inspire confidence in first lien.
sth. Although it is not claimed that there can be
anv better securities than Governments, there are
parties who consider first mortgage upon such
property as the very best security in the world,
and who sell their Governments to rc-nvest in these
bonds-1hus securing greater interest. s,. 80
9th. AS the Union Pacific Railroad bonds offer
ed tor the present at 90 cents the dollar and ac
crued interest," they are the cheapest security 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
OUer Nine Per Cent. Interest.
The daily subscriptions are already large, and
they will continue to be received in New York by
the
CONTINENTAL NATIONAL BANK, NOT Nassau St.,
CLARK, DODGE g. Co., Bankers, No 81 Wall St.,
JOHN j. CISCO g. SON, Bankers, No 80 Wall ST.,
andbv BANKS and BANKERS generally through
ont the United States, ofwhom maps and descriptive
pamphlets may be obtained, They will also DC sent
by mail from the Company's Office, No2O Nassau St.
New York, on application. Subscribers VIII seec
their own agents in whom they have conheehce'"n'
alone will be responsible TO them ior Tue s'''' u'
livery of the bonds.
JOHN j. CISCO, Treasurer,
NEW YORK.
w. III. WOOD q SON, are agents TOR the sale o
the above bonds in this city, june3d&w3m
| ..-. Notice.
| DECISIONS clearing the ruins OF digging cellars will