The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-09-09
Is II =
UNION PACIFIC
Railroad Co.
THEIR FIRST MORTGAGE BONDS
As an Investne emit.
RailroadCo

Inc rapid progress of the Union Pacific Rail-
ioau, no" building west of Omaha, Nebraska, and
FORMING with its western connections, an unbrok-
en- ne across the continent, attracts attention to
the value OF the First Mortgage Bonds which the
Company now offer to the public. The first ones
tion asked by prudent investors is, care these
bonds secure p Next, Are they profitable in
vestment?" To reply in brief:
LIST. The early completion of the whole great
line to the Pacific is as certain 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
q 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 only line connecting
the Atlantic and Pacific and being without com
| petition, it maintain remuneratiye rates
| Sd. 425 miles of this road are finished, and
fully equipped with depots, locomotives cara, DC.
and two trains are daily running each way. The
materials for the remaining go miles to the east,
| ern base of the Rocky Mountains are on hand
and 1t is under contract to be done in September.
| 18th. 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.
5tb- The Union Pacific Railroad bonds can be
issued only rs 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
| sum equal to what is granted by the q. s. Gov
! eminent, and for which it takes second lien as
its security. This amount upon the first 5I7
miles west from Omaha is only sl6,0 per mile.
9th. The fact that the e. S. Government con-
siders a second lien upon the road a 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 a 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 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 80 cents on the dollar
and accrued interest, they the cheapest securi
| ty in the market, being more than Is per cent.
| less than L. S. Stocks.
10th. At the current rate of premium on gold,
they pay
Over Nine Per Cent. Interest.
The daily subscriptions already large, and
they will continue to be received in New York by
| the
CONTINENTAL NATIONAL BANK, No. Nassau
Street.
CLARE, DoDGR Co., BANKERS, 81 Wall St
JOHN ). Cisco Il SoS, BANKERS, No. 80 Wal
Street,
and by BANKS AND BANKERS generally
throughout the United States, of whom maps ana
descriptive pamphlets may be obtained. They
will also be sent by mail from the Company
Office, No. 20 Nassau Street, New York, on appli
cation. Subscribers viii select their own agent
in whom they have confidence, who alone will b,
responsible to them for the safe delivery of th
r bonds.
JOHN =. CISCO,
| TREASURER