The Portland daily press., 1867-08-26
H. MISCELLANEOUS.
THE
u MON PACIFIC
RAILROAD co. bf
Their First Mortgage Bonds
AS an Investment !
MISCELLANEOUS.

The rapid progress of the Union Pacific Railroad
now building west from Omaha, NebrasLa a. and FORM
ing with its western connections an unbroken line
across the continent atracs attention to the value
ofthe First Mortgage Bonds which the Company now
offer to the public. 1he first question asked by pru-
dent investors is. "Are these bonds secure?" Next
"Are they profitable investment?" To reply I'm
brief: rua h#a.9 ss4lI L .saas ~. 7s ssf.Io
1st The early completion Of the whole great line to
the Pacific certain as any future business event
can be. The Government grant OF over twenty mill
ion acres Of land and fifty million dollars in its own
bonds practically guarantees 1t. One fourth of the
work s already done, and the track continues to be
laid at the rate OF two miles day.
4 I'd. bhe Union Pacific Railroad bonds are issued
upon what promises to be 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, 1t can main
tain remunerative rates. lii h, ..1fyr.s sfg sG,I
Sd. 425 miles of this road are finished, and fully
equipped with depots, locomotives cars .,and two
trains are daily rnaning each ways The materials
for the remaining 90 miles to the eastern base of the
Rocky Mountains are on hand, and it is under con-
tract to be done in September l4e h9o 3yhA
4th The net earnings ofthe sections already finish
ed are several times greater than the COLL 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
an expenses, but be prof liable to the Company.
9TH. The Union Pacific Railroad bonds can be issned
only as the road progresses and therefore can never
be in the market unless they represent bona .fde
property.
9Th. Their amount is strictly limited by law to a
sum equal to what is granted by the u s. Govern
ment and for which it takes second lien rs its Sc
curity. This amount upon the first 617 ntiles west
from Omaha is only $4,000 per mile. 5na7A9E
7th. The fact that 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 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 the very best security in the world
and who sell their Governments to reinyes in these
bonds-thus securing greater interest.
9th As the Union Pacific Railroad bonds are offer
ed tor ths present at 90 cents on the dollar and ac-
orued interest," they are the cheapest security in the
market, being more than is per cent less than u s.
Stocks. N H7rfcE .ef bc r. t7s9 .Utf
10th. Atthe current rate of premium on gold,
they pay hs..i. g. ....lttl,aai off
OUeP Nine Per Cent. Interest.
The daily subscriptions are already large, and
they will contilue to be received in New York by
the ei -*PI $50
CONTINENTAL NATIONAL BANK, Nor Nassau st.
CLARK, DODGE & Co., Bankers, No 81 Wall St.,
JOHN J. Cisco & SON, Bankers, No 80 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, No 90 Nassau ST.,
New York, on application. Subscribers win select
their own agents in whom they have confidence, who
alone will be responsible to them for the safe de-
livery OF the bonds.
81 a4- al sssas8Hl If5Ff4.EH
- JOHN j. CISCO, Treasurer,
NEW YORK.
W. H. WOOD q SON, are agents for the sale Of
the above bonds in this city. june3d&w3m