The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-09-16
t)-THH n =
UNION PACIFIC
Railroad
THEIR FIRST MORTGAGE BONDS
As an Investment.

The rapid progress of the Union Pacific Rail-
road, now building west of Omaha, Nebraska.and
iornihg' with ITS western connections an unbrok
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 cues
ton asked by prudent investors is, care these
bonds secure?" Next, care they a profitable in
vestment?"' To reply in brief:
let. The early completion of the whole great
line to the Pacific is certain as any future bus
mess event can be. The Government grant of
over twenty million acres 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
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 onl- line CONNECTING
the Atlantic and Pacific; and being without com
petition, it can maintain remunerative rates.
I'D. 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 80 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 Union Pacific Railroad bonds can be
issued only as the road progresses, and therefore
can never be in the market unless they represent
| bona tSde 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 q second lien as
its security. This amount upon the first 5l7
miles west from Omaha is only 200 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
| third lien) may well inspire confidence in first
lien.
sth. Although tits 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 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 the cheapest securi-
| ty in the market, being more than Is per cent.
less than q. S. Stocks. ....
10th. AT the current rate of premium Oh gold,
they pay ..-....
ever 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, No. 7 Nassau
| Street.
| CLARK, DoDGR Co., BANKERS, 81 Wall St.
| JOHN j. Cisco 4 Son, BANKERS, No. SO Wall
| Street,
| and by BANKS AND BANKERS generally
| throughout the United States, of whom mans and
| descriptive pamphlets may be obtained. They
will also be sent by mail from the Company's
Office, No. 20 Nassau Street, New York, on appli-
cation. Subscribers win select their own agents
| in whom they have confidence, who alone will be
| responsible to them for the safe delivery of the
bonds.
JOHN J. CISCO,
TREASURER,
.T...-.s~ NEW YORK.