Evening star. [volume] (Washington, D.C.) 1854-1972, 1867-08-08
i HE UNION PACIFIC
RAILROAD COMPANY.
THEIR FIRST MORTGAGE BONDS as AN
INVESTMENT.

The rapid progress of the Union Pacific Railroad
now building west from Omaha, Nebraska, and
forming, with its western connections, I'M
broken line across the continent attracts attention
to the value of the First Mortgage Bonds which the
Company now offer to the public. The first ques-
ton asked by prudent investors is. Are these
bonds securef" Next, Are they profitable
investment ~ To reply in brief:
LIST. 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 twenty million acres of land and fifty million
dollars i'll its bonds practically guarantees it.
One fourth of the work is already done, and the
track continues be laid at the rate Of miles
"a day
I'd. The Union Pacific Railroad bonds are issued
upon what promises to be one of the most profit
able lines Of railroad in the country. For many
years it must he the only line connecting the At
iantic and Pacific and being without competition
1t can maintain remunerative rates
3D.. 3I6 miles of this road finished and fully
equipped with depots, locomotives, cars, &c, and
two trains are daily running each way. The
terias for the remaining al miles to the eastern
base !, the Rocky Mountains are on hand, and is
under contract to be done in September.
18th The net earnings of the sections already
finished Strerat times greater than the gold in
terest upon the First Mortgage Bonds upon such
sections, and II not another mile of the road
built, the part already completed would not only
pay interest and expenses, but be profitable the
Company.
5th The Union Pacific Railroad bonds can be
ssued only the road progresses and therefore
can never be in the market unless they represent
tond hde property.
9Th Their amount is strictly limited by law to
sum equal to what is granted by the United States
Government, and for which it takes a second lien
as its security. This amount upon the first 5l7
miles west from Omaha is only $1,000 per mile.
9TH. The fact that the United States Government
considers a second lien upon the road good in
ap1t at oft the shrpw at railroad
builders of the country have already paid in five
million dollars upon the stock (which is to them
third len) may well inspire confidence in first
lien.
Sth. Althoug h it is not claimed that there can be
any better securities than Governments, there
parties who consider first mortgage upon such
property this the best security in the world
and who sell their Governments to invest in these
bonds-thus securing greater interest
9th As the Union Pacific Railroad bonds are of
fered for the present at 80 cents the dollar and
accrued interest, they the cheapest security in
the market, being 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 Washington by
the
FIRST NATIONAL BANK,
NATIONAL BANK OF THE REPUBLIC, and
RITTENHOUSE, FOWLER CO.,
and by BANKS AND BANKERS generally
throughout the United States, of whom maps and
descriptive pamphlets may be obtained. They win
also be sent by mail from the Company Office, No.
70 Nassau street, New York, application. Sub
cribers will 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
jy20 eo6t New York.