Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1867-08-08
THE UNION PACIFIC RAIL ROAD
THEIR FIRST MORTGAGE BONDS As AN
INVESTMENT.

The rapid progress ofthe Union Pacific Rail.
road, now building west from Omaha, Nehra..
ka, aud forming, with its western connections
an unbroken line across the continent, attract.
attention to the value of the First Mortgs,o
Bonds which the Company now offer 10 tho
public The first question asked by pruas,,
investors Is, "Are these bonds secure,' Neyt
"Are they aprohtable investmcntl" To rerl1
in brief:
lat. The early completion of the whole uraa,
line TO the Pacific is as certain as any tp,n,a
business event can be. The Government c,,r,
OF over twenty million acres OF land and a.,
million dollars in its own bonds practican,
guarantees it. One fourth OF the work is alreaa,
done, and the track continues to be laid Al tbs
rate of two miles day.
I'd. The Union Pacific Railroad bonds are IA.
sued upon what promises TO be one OF the ro0,
profitable lines of railroad in the country. FL,
many years 1t must be the only line connectin,
the Atlantic and Pacific: and being wi tbost
competition, 1t can maintain remunerative
rates.
3D.. AS miles of this road are finished and
fully equipped with depots, locomotives. car.
&C, and two trains are daily running each way
The materials for the remaining % miles to the
eastern base of the Rocky Mountains are ON
hand, and 1t is under contract to be done in
| September.
4th. The net earnings Of the sections alreadV
finished are several times greater than the GOLD
interest upon the First Mortgage Bonds upop
such sections, and if not another milo of tho
road were built, the part already completed
would not only pay interest and expenses bpt
be profitable to the Company.
9th. The Union Pacific Railroad bonds can he
issued only as the road progresses, and there.
fore can never be in the market unless they re.
present bona fde property.
6tn. Their amount is strictly limited by law
to sum equal to what is granted by the U. S,
Government, and for which it takes second
lien as its security. This amount upon the first
5l7 miles west from Omaha is only $4,000 per
mile
18th. The fact that the L. S. Government con.
siders a second lien upon the road a good in.
yestment, and that some Of the shrewdest rail-
road builders OF the country have already paid
in five million dollars upon the stock (Which is
to them third lien, may well inspire conf
denCe 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 property as this the very best secu
rity in the world and who sell their Govern
ments to re-invest in these bOnds-thus secur
ing greater interest.
9th. Az the Union Pacific Railroad bonds ar
offered for the present at 20 cents on the dolla
and accrued inter est they are the cheapest sc
Curity in the market being more than Is pc
cent. less than U. S. Stocks.
10th. At the current rate of premium on gOlG
they pay
Over Nine per Cent. Interest.
The daily subscriptions are already large, an
they will continue to be received in New Yor
by the
Continental National Bank, Not Nassau st.
Clark, Dodge, & Co., Bankers. 81 Wall ST.,
John j. Cisco & Son, Bankers, No. 80 Wa
Street, and by Banks and Bankers general
throughout the United States, of whom map
and descriptive pamphlets mey be obtained
They will also be sent by mail from the Com
pany's Office, No, p Nassau Street, New Yori
on application. Subscribers will select thei
own Agents in whom they have confidence, VIII
alone will be responsible to them for the sal
delivery of the bonds.
JOHN j. CISCO, Treasurer,
may3Od&w3m New York