The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-08-13
UNION. PACIFIC
sRailrOadCo.
THEIR FIRST MORTGAGE BONDS
As an Investment.

The rapid progress of the Union Pacific Rail-
road now building west of Omaha, Nebraska, and
iofhihg' with its western connections, an unbrok-
. GROSS the continent, attracts attention to
the 'aiue u the First Mortgage Bonds which the
oomPany now oner to the public. The first qoes--
tion asked Dy prudent investors is "Are these
bonds secure - Next, Are they profitable in
sestment7s To reply in brief:
LIST. The early completion of the whole sre.,
line to the Pacific is certain as any future bus
mess event can be. The Government grant of
over twenty million acres of hand and fifty million
dollars in its own bonds practically guarantee it.
One-fourth Of the work is already done, and the
track continues to be laid at the rate of two miles
| a day.
I'd. 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 it must be the only line connecting
the Atlantic and Pacific; and being without COM
petition, it can maintain remunerative rates.
| q. 3D. 425 miles of this road are finished. and
fully equipped with depots, locomotives cars,dc.,
and two trains are daily running each way. The
materials for the remaining go miles to the east
ern base of the Rocky Mountains are on hand.
and it is under contract to be done in September
4th.. The netearnings of the sections already
finished several times greater than the gold
| interest upon the First Mortgage Bonds upon
such sections and if not another mile of the road
we're built, the part already completed would not
only pay interest and expenses, but be profitable
to the Company. ps.g -sE.
5th. The Union Pacific Railroad bonds can be
;ss,ad oplv tha ~, a ,,rooraeuas +barafo,o
can never be in the market unless they represent
bona jide property.
9th. Their amount is strictly limited by law to
| sum equal to what is granted by the U. S. Gov
| eminent, and for which it takes q second lien as
| its security. This amount upon the first 5I7
| miles west from Omaha is only $4,000 per mile.
| eth. The fact that the U. S. Government con-
| siders a second lien upon the road good invest-
ment, and that some of the shrewdest railroad
| builders of the country have READY paid in five
million dollars upon the stock (which is to them
a 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 a first mortgage upon
| such property as this the very best security in
| the world and who sell their Governments to re-
invest in these bonds-thus securing greater in
/ terest. sa-
| 9th. As the Union Pacific Railroad bonds are
offered for the present at 80 cents the dollar
and accrued interest, they the cheapest secur-
| ty in the market, being more than Is per cent.
| less than u. S. Stocks. .EE
10th. At the current rate of premium on gold,
they pay -.-,, q, .Ess... ...-.-....-. ...
| Over Nine Per Cent. Inter est.
The daily subscriptions are already large, and
they will continue to be received in New York By
the lEtgs% brG rezFw 500. ~ -
CONTINENTAL NATIONAL BANK, No. Z Nassau
Street, -.
CLARE, DoDGE Co., BANKERS, 81 Wall St.
JOHN ). Cisco SoN, BANKERS, No. 80 Wall
Street,
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's
Office, No. 20 Nassau Street, New York, on appli-
cation. 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,
| NEW YORK.
may30dw3m.