Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1867-08-29
finanrial.

THE
Union Pacific
RAILROAD CO.
FIRST MORTGAGE BONDS
AS An Investment.
TIE rapid progress OF the Union Pacific Rail-
road, now building West from Omaha, Eebras-
ka, and forming, with its Western connections,
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 investments" Toreply 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 IL. One-fourth of the work is already
done. and the track continues to be laid at the
rate of two miles aday.
ID. 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 1t must be the only line connecting
the Atlantic and Pacific; and being without
competition, it can maintain remunerative rates
Sd. 425 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 ~ miles 10 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.
9TH. 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 a bona fde property.
9th. Their amount Is strictly limited by law
to n sum equal to what is granted by the U. S.
Government, and for which 1t 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-
siders 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
a third lien) may well inspire confidence in n
sth. although 1t is not claimed that there can
be any better securities than Governments
there are parties who consider first mortgage
upon such propertyas this the very best secur-
ity i'm the world, and who sell their Govern
ments to re-invest in these bonds-thus secur-
ing IL greater interest.
9th. AS the Union Pacific Railroad bonds are
Offered for the present at 30 cents on the dollar
and accrued interest, they are 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 the
| Continental National Bank No. 7 Nassau 81.
Ctdrk, Dodge & Co., Bdnkers 81 Wan 81
John j. Cisco & SO,i. Bankers, No. 81 Wall ST.,
and by BANKS AND BANKERS generally
| throughout the United States, of whom maps
and descriptive pamphlets may be obtained
| They will also he 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.
| je6-3m New York.