Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1867-10-09
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''ss - THE .e as
UNION PACIFIC
RAILROAD Co.
s7E Tfrs1s3 "a zTSEc.E
THEIR FIRST MORTGAGE BONDS
As an Investn .nt

The rapid progress of the Union Pacific hailroad
now building west from Omaha, Nebraska, and
forming, with its western connec iuns an unbroken
line the continen attracts attention to the
value of the First Mortgage Bonds which the Com-
pany now offer to the public. The first question
asked by prudent investors is, Are these bonds
secure? 2" Next Are they q profitable invests
ment?'' To reply in brief:
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 twen-
ty million 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 contin
ues to be laid at the rate of two miles day. . .
2d. The Union Pacific Railroad bonds are issued
upon what promises to be one of the most profta-
BILE lines of railroad in the country. For many
years it must be the only line connecting the At
lantic and Pacific aud being without competition
it can maintain remur erative rates. -.o idJ sr.i
81. 425 miles of this road are finished, and fully
equipped with depots, locomotives, cars, &c., and
two trains are daily running each way. The mate
rals for the remaining 90 miles to the eastern base
of the Rocky Mountains ere on Land, and it is un-
der contract to be done in September.
4th.a The net earnings of the sections already n n.
ished several times greater than the gold inter
est upon the First Mortgage Bonds upon such sec-
tions, and if not another mile CT tie road were
built. the part already completed would not only
pay interes and expenses, but be profitable to the
Company.
; 5th. The Union Pacif, Railroad bonds can be Is
sued only the road progresses and therefore can
never be in the market unless they represent bona
fde property.
9Th. Their amount is strictly limited by law to
sum equal to what is granted by the o. s. Govern
ment. and for which it takes second lien its Sc
curity. This amount upon the first 517 miles west
from Omaha is only sIe, 900 per mile.
7th. The fact that the U s. Government consid-
ers a second lien upon the road q good investment
and that some of the shrewdes railroad builders of
the country have already paid in five million dol
lars upon the stock (Which is to them 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 NOR gage upon such
property this the best security in the world
and who sell their Governments to re-invest in
these bonds-thus securing crater interest.
9th. As the Union Pacific Railroad bonds are of
fered for the present at 80 cents on the dollar and
accrued interest they 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
Over Nine per Cent. Interest.
+ The daily subscriptions are already large, and
( they will continue to be received in New York by
/ Continental National Bank, No Nassau g.,
j Clark. Dodge & Co., Bankers, 81 Wall St..
( John ]. Cisco 6 Son, Ranksrs, No. SO Wall BE-,