The Portland daily press., 1867-08-31
THE tath
MON P CIFIC.
l5 RAILROAD co.
Their First Mortgage Bonds
uaas As an IMVestn2e e7et a'

The rapid progress of the Union Pacific Railroad,
now building west from Omaha, Nebraska, and form
ing, with its western connections, an unbroken limo
across the continent attracts attention to the value
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 inyesiment?'' To reply in
brief: 0l7 b s a4l o
1st. The early completion of the whole great line to
the Pacific is certain any luture business event
can be. The Government grant OF over twenty mill
ion acres of land and fifty million dollars in its
bonds practically guarantees it. One fourth of the
work is already done, and the track continues to be
laid at the rate OF two miles day.
I'd. The Union Pacific Railroad bonds arc issued
upon what promises be one of the most profitable
limos of railroad in the country. For many years it
must be the only line connecting Ihc Atlantic and
Pacific and being without competition, it can main
tain rsmunerative rates.
Cd. 425 miles of this road are finished and fully
equipped with 6epots, locomotives. cars land two
trains are daily running each way. The materials
the remaining 92 miles to the eastern base Of the
Rocky Mountains are on hand and it is under con-
tract to be done in September. fss+ -.
4th. The net earnings of tie sections areal ly finish
edar seceral times greater than the gold interest
upon the First Mortgage Bonds upon such sections,
and if not another mile of the road built the
part already completed would not only pay interest
an expenses, but be prof! able to the Company.
9th. The Union Pacific Railroad bonds can be issued
only as the road progresses and therefore never
be in the market unless they represent bona fde
property. ~ f il@
9th. Their amount is strictly limited by law to
sum equal to what is granted by the u S. Govern
ment, and Tor whlchit takes second lien rs its SO.
eur1ty. This amount upon the first SIT Mules west
from Omaha is only $4,000 per mile 3 l f}ati
7th. The factthat the U. S. Government consid-
ers second lien upon the road good investment,
and that some OF the shrewdest railroad builders of
the country have already paid in five million dol
lars upon the stock (which is to them third en).
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
property as the very best security in the world,
and who sell their Governments to rc-inves in these
bonds-tbus securing greater interest.
9th AS the Union Pacific Railroad bonds are offer
ed tor the present at 9Ocents on the dollar and
crued interest, they the cheapest security in the
Market being more than 15 per cent less than u S.
Stocks. |
10th. At the current rate of premium on gold,
they pay
OOer Nine Per Cent. Interest.
The daily subscriptions already large, and
they will continue to be received in New York by
the ft.la
CONTINENTAL NATIONAL BANK, No7 Nassau St.
CLARK, DODGE & Co., BankHrs, No 81 Wall ST..
JOHN j. CISCO & SON. Bankers, No 3S Wall ST.,
and by 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, No20 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. ,-1-.5
JOHN J. CISCO, Treasurer,
'' tl1 NEW YORK.
n. WOOD q SON, are agents for the sale OF
the above bonds in this city iune3dsw3m
isAMs. Us 200 NJ. imported ana domestic Cigar