The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-09-26
z II u -
UNION PACIFIC
RailrOadC Co.
THEIR FIRST MORTGAGE BONDS
As an Investment.
RailrOadCO.

The rapid progress of the Union Pacific Rail
road, now building west of Omaha, Nebraska.and
| forming, with its western connections an unbrok-
en- line across the continent attracts attention to
| the value of the First Mortgage Bonds which the
Company now offer to the public. The first ques-
ton asked by prudent investors is, care these
bonds secure?" Next, "Are they profitable in
vestment?" To reply in brief:
LIST. The early completion of the whole great
line to the Pacific is certain any future bus
| mess event can be. The Government grant of
over twenty million acres of land 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 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.
| Sd. 425 miles of this road are finished, and
fully equipped with depots, locomotives, ,dc,
| and two trains are daily running each way. The
materials for the remaining 90 miles to the east
| ern base of the Rocky Mountains on hand
| and it is under contract TO be done in September
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 the road progresses, and therefore
| can never be in the market unless they represent
& bona Jfde property.
| 6th. Their amount is strictly limited by law to
a equal to what is granted by the U. S. Gov
eminent, and for which it takes a second lien
| its security. This amount upon the first SIT
miles west from Omaha is only $4,000 per mile.
eth. The fact that the U. S. Government
siders a second lien upon the road good invest
| ment, and that 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 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 this the very best security in
the world, and who sell their Governments to
invest in these bonds-thus securing greater in
| terest.
9th. As the Union Pacific Railroad bonds are
offered for the present at 90 cents the dollar
and accrued interest, they the cheapest securi
ty in the market being moro than IS per cent
less than L. S. Stocks.
| 10TH At the current rate of premium gold
they pay
~ Over Nine Per Cent. Inter est.
The daily subscriptions already large, and
they will continue to be received in New York by
the
CONTINENTAL NATIONAL BANK, No. Nassau
Street,
!, CLARE, DoDGE Co., BANKERS, 81 Wall St.
john J. 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
will also be sent by mail from the Company 8
Office, No. 20 Nassau Street, New York, on appli-
cation. Subscribers win select their agents
| in whom they have confidence, who alone will be
/ responsible to them for the safe delivery of the
| bonds.
JOHN :. CISCO,