The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1867-08-15
MISCELLANEOUS.
THE S08Y{g eyel
u N 10 N P ACIFIC.
A4args RAILROAD co.
Their First Mortgage Bonds
as an Investment :

The rapid progress of the Union Pacific Railroad.
now building west from Omaha, Nebraska. and f.rm-
ing, with its western connections an upbroken line
across the continent attracts attention TO the yalue
ofthe First Mortgage Bonds which the Company now
offer to the public. he first question asked by pru-
dent investors is, "Are these bonds secure?" Next
Are they profitable investment?H To reply in
brief: Cd .Js 8{ets-t -est .. }
lst 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 mill
Ion acres of land and fifty million dollars in its own
bonds practically guala it. One fourth of the
work is already DONE and the track continues to be
laid at the rate OF two miles day. ID si.i ot .as
I'd. The Union Pacific Railroad bonds are issued
Upon what promises to be one of the most profitable
lines ofrailroad in the country. For many years it
must be the only line connecting the Atlantic and
Pacific; and being without competition it can main
tain remunerative rates. 'i-'ats' -'' si
Sd. 425 miles of this road finished and fully
equipped with depots, locomotives land two
trains are daily running each way. The materials
for the remanng92 miles to the eastern base OF the
Rocky Mountains are on hand, and it is under con-
tract to be done in September
4ih. The net earnings of the sections already nisl-
edar 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
an expenses, but be prof table 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 a bona fde
property. sf9tr5. slai15 .s..l -,f
9th. Their amount is strictly limited by law to
sum equal to what is granted by the U. S. Govern
ment and TOR which it takes second lien rs its SO.
curity. This amount upon the first 517 miles west
from Omaha is only $4,000 per mile. 81. %, ,s, 4.
7th. The fact that the U. S. Government consid-
ers a second lien upon the road good investment.
and that some of the shrewdcst 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 il is not claimed that there can be
any better securities than Governments, there are
parties who consider first mortgage upon such
property as the very best security in the world,
and who sell their Governments to re-inves in these
bonds-thns securing greater interest.
9th As the Union Pacific Railroad bonds are offer
ed for the present at 90 cents on the dollar and ac-
cred interest, they the cheapest security in the
market, being than 10 per cent. less than o. S.
Stocks. ~ MI. / t,laI.s .i!.ia tu-t ~
10th. AT the current rate of premium on gold,
they pay .ff .+5 -,
OUer Nine Per Cent. Interest.
The daily subscriptions are already large and
they will continue to be received in New York by
the -5 4,st 4.,a. sre laIajse
CONTINENTAL NATIONAL BANK, MOI Nassau St..
CLARK, DoDeE g. Co., Bankers, No 81 Wall St.,
JOHN j. Cisco & SON, Bankers, No SO Wall ST.,
andby BANKS and BANKERS generally through
out the United States of whom maps and descriptive
pamphlets may be obtained, They will also be sent
by mail from the Company's Office, No 20 Nassau st.
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 de-
livery OF the bonds. 81 e -,i.t-f,s T.. ,1-.i
JOHN J. CISCO, Treasurer, l-a
!. W. II. WOOD q SON, are agents for the sale of