Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1867-08-22
finanftal.

TEiE
Union Pacific
RAILROAD GO.
FIRST MORTGAGE BONDS
AS An Investment.
THE rapid progress OF the Union Pacific Rail-
road, now building West from Omaha Nebras-
ka. and forming, with its Western connections,
an unbroken line across the continent, attracts
attention to the value of the First Mortgage
Bonds which the Company now offer to the pub
lie. The first question asked by prudent inves-
tors is. "Are these bonds secure?" Next, "Are
they profitable investment? ?" To reply in brief:
LIST. The early completion of the whole great
line to the Pacific is as certain as any future
business event can be. The Government grant
of over twenty million acres of land and fifty
million dollars in its own bonds practically
guarantees 1t. One-fourth of the work is already
done. and the track continues to be laid at the
rate of two miles day.
%. 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 II must be the only line connecting
the Atlantic and Pacific and being without
competition, 1t can maintain remunerative rates
3D.. 42j 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 92 mil es to the
Eastern base of the Rocky Mountains are on
hand, and it is under contract to be done in Sep
tember
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.
5th. The Union Pacific Railroad bonds can be
issued only as the road progresses and therefore
can never be in the market unless they repre-
sent bona Jtde property.
9Th. 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
7th. The fact that the U. s. Government con-
sders 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 a
first lien. r.-
sth. Although 1t is not claimed that there can
be any better securities than Governments
there are parties who consider a first mortgage
upon such property as this the very best secur-
ity in the world, and who sell their Govern
ments to re-invest in these bonds-thus secur-
ing greater interest.
9th. As the Union Pacific Railroad bonds are
offered for the present at 80 cents ON the dollar
and accrued interest, they are the cheapest
security in the market, being more than l5 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 the
Continental National Bank, No. 7 Nassau 81.
CLARK, Dodge t Co., Bdnkers, 81 TVdH 81.
John j. Cisco & Son, Bankers No. 80 Val ST.,
and by BANKS AND BANKERS generally
throughout the United States, of whom maps
and descriptive pamphlets may be Obtained
They will also be sent by mail from the Com
pany's office, No. 20 Nassau Street, New York,
on application. Subscribers 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 ]. CISCO, Treasurer
Je6-3n New York.