Evening star. [volume] (Washington, D.C.) 1854-1972, 1867-08-02
i HE UNION fAcIrIo
\<A r. \ RAILROAD o0hfAsH' z
THEIR FIRST hoRroAeE ssorps q AT
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( The rapid prosrsss Of The Unios Pacific Haircad,
now building West from Omaha, Neorsska' ana
forming, with its western connexions, an IN
oxen line across the continent attracts attention
to the value of the First Mortgage Bonds which the
Company now offer to the public The nrst cues
tom asked by prudent investors y, 'Are these
bonds sfcureY" Next, A"Are' they . profitable
inyestmentf' To reply in brief: -.
LIST. The early completion OF tne Wnofe erea'
line to the Pacffc is ss certain a. any future
business Q vent can be- The Government grant OF
over twenty million acres Of land and nifty million
dollars in its own bonds practicaiiy guarantees
One fourth Of the work Is already done, and tne
track continues to be laid at the rate OF TWO miles
q day. + 49, ,<se. tIrgD !
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 II must be the only line connecting the At
lantic and Pacific; and being without competition
it can maintain remunerative rates
ad as miles of this road are finished, and fully
equipped with depots, locomotives, cars, &c., and
two trains are daily running each way. The ma
terials for the remaining lil miles to the eastern
base ,ithe Rocky Mountains are on hand, andis
under contract to be done in September
4th. The net earnings OF the sections aiready
finished are sereral times greater than the geld in
terest 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.
ssued only as the road progresses, and therefore
can never be in the market unless they represent
q bona fde property.
9Th Their arnoun mt is strictly limited by law to
sum equal to what is granted by the United states
Government, and for which 1t takes q seeond lien
as it's security. This amount upon the nrst OH
miles west from Omaha is only Sl6,0f6 per mile.
7tb The fact that the United States Government
considers q second lien upon the road good IN
yestment, and that some of the shrewdest railroad
builders of the country have already paid In nve
million dollars upon the stock (which is TO them
third lien may well inspire confidence in 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 a
property as this the best security in the world
and who sell their Governments IN these
bonds-thus securing a greater interest.
9Th As the Union Pacific Railroad bonds are Of
fered for the present at 90 cents ON the dollar and
accrued interest, they are the cheapest security in
the market being Is per cent. less than U. 5
Stocks.
NH 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 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 will
also be sent by mail from the Company Office, No.
20Nassan street, New York. on application. Sub
scribers 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,
jy2O-eo6t New York. +