The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-09-04
r Il
UNION PACIFIC
Railroad Co.
THEIR FIRST MORTGAGE BONDS
As an Investment.

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 "Are these
bonds secure 2" Next, care they profitable in
vestment?" To reply in brief:
LIST. The early completion of the whole great
line to the Pacific is as certain as 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 be laid at the rate of two miler
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 1T 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 cars, DC.
| and two trains are daily running each way The
materials for the remaining 90 miles to the cast
| ern base of the Rocky Mountains are on hand
and it is under contract to be done in September
4th. The net earnings 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
| were built the part already completed would not
only pay interest and expenses, but be profitable
| to the Company.
5th The Union Pacific Railroad bonds can be
issued only the road progresses, and therefore
can never be in the market unless they represent
| a bona tfde property.
9th. Their amount is strictly limited by law to
a sum equal to what is granted by the U. S. Gov
! eminent, and for which it takes a second lien az
| its security. This amount upon the first SIT
| miles west from Omaha is only $4,000 per mile
9th The fact that the U. S. Government con-
sders second lien upon the road good invest
| ment, and that some of the shrewdest railroad
| builders of the country have already paid in Eve
million dollars upon the stock (which is to them
third lien) may well inspire confidence in a 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 this the very best security in
the world, and who sell their Governments to re-
invest in these bonds-thus securing greater in
terest.
9th. As the Union Pacific Railroad bonds are
offered for the present at 90 cents on the dollar
and accrued interest they are the cheapest securi-
ty in the market, being more than Is per cent.
less than U. S. Stocks.
10th. 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 New York by
the
CONTINENTAL NATIONAL BANK, No. Nassau
Street.
CLARE, DoDGE Co., BANKERS, 81 Wall St
JOIN J. Cisco SoN, BANKERS, No. 80 Wal
Street,
and by BANKS AND BANKERS general,
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. 20 Nassau Street, New York, on appli-
cation. Subscribers viii select their own agents
in whom they have confidence, who alone will be
| responsible to them for the safe delivery of tn,
bonds.
: JOHN =. CISCO.
REASURER.
NEW YORK,
may30dw3m.