The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-09-30
UNION PACIFIC
railroad Co.
THEIR FIRST MORTGAGE BONDS
As an Investment,

The rapid progress of the Union Pacific Rail
road' now building west of Omaha, Nebrasks. and
iorihihg, with ITS western connections, an uubrok
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 oues.
ton asked by prudent investors is, "Are these
bonds secure p Next, "Are they profitable in
vestment2" To reply in brief:
lst The early completion of the whole great
line to the Pacific is certain as any future bus-
mess event can be. The Government grant os
over twenty million 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 two miles
a day.
I'd. The Union Pacific Railroad bonds are ia
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 DC,
and two trains are daily running each way. The
materials for the remaining 20 miles to the east
ern 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 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 fInioD Pacific Railroad bonds he
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 a second lien as
its security. This amount upon the first ST.
miles west from Omaha is only $4,000 per mile.
9th. The fact that the U. 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
a 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
such a property this the very best 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 on the dollar
and accrued interest, they are the cheapest secur
ty in the market, being moro than Is per cent
less than Z. S. Stocks.
10th. At the current rate of premium on gold
| they pay
Over Nine Per Cent. Interest.
The daily subscriptions are already large, and
| they will continue to be receivedin New York by
! the
| CONTINENTAL NATIONAL BANK, No. 7 Nassau
| Street,
| CLARE, DoDGE Co., BANKERS, 81 Wall St.
| JOHN j. Cisco d SoS, BANKERS, No. 80 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 agents
| in whom they have confidence, who alone viii be
responsible to them for the safe delivery of the
| bonds.
JOHN J. CISCO,
TREASURER,
NEW YORK.