The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1867-11-04
THE
UNION PACIFIC
RAILROAD CO.
Their FIRST MORTGAGE BONDS
AS AN INVESTMENT.

The rapid progress of the Union Pacific
Railroad, now building west from Omaha,
Nebraska, and forming, with Its western
connections, an unbroken line across the
continent, attracts attention to the value
of the First Mortgage Bonds which the
Company now Offer to the public. The
first question asked by prudent investors
is, ''Are these bonds secure?" Next, Are
they a profitable Investment" To reply
In brief:
LIST. The early completion of the whole
great line to the Pacific is as certain as any
future business event can be. The Gov
eminent grant of over twenty million
acres of land and fifty million dollars in
its own 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
are issued 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 Pa
cifie; and being without competition, 1t
can maintain remunerative rates.
Sd. Four hundred and twenty-five miles
of this road are finished, and fully equip
ped with depots, locomotives, cars, Ger
anu Two bTdlnS dIS QstAAs 1OOA4nS CttNAA
way. The materials for the remaining
ninety-two miles to the eastern 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 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 profit
able to the Company.
i 5th The Union Pacific Railroad bonds
can be issued only as the road progresses,
and therefore can never be in the market
unless they represent a b01aG-t5de property.
9th. The amount is strictly limited by
law to sum equal to what is granted by
the U. s. Government, and foC which it
takes a second lien as Its security. This
amount upon the first 5I7 miles west from
Omaha is only $1,000 per mile. ea
7th. The fact that the u. s. Government
considers a second lien upon the road
good investment, and that some of the
shrewdest railroad builders of the country
have already paid in i've million dollars
upon the stock (Which is to them a third
nenl, may well inspire confidence in
first len; as57
:. 8th. Although it is not claimed that
there can be any better securities than
Governments, there are parties who con-
slider q hrst mortgage upon such property
as this the very best security in the world,
and who sell their Governments to rein
vest in these bonds = thus securing
greater interest.
9Th. As the Union Pacific Railroad bonds
are offered for the present at 80 cents on
the dollar and accrued interest, they are
the cheapest security in the market, beng
more than Is per cent less than y. S.
stocks. .....s.s4
10th At the current rate of premium on
gold, they pay
Ouer Nine per Cent. Interest. i2'
The daily subscriptions are already large,
and they will continue to be received in
CONTINENTAL NATIONAL BANK,
IS No. Nassau Street;
CLARK, DODGE & Co., Bankers, i
81 Wall Street;
~ JOHN J. CISCO & SoN, Bankers,
No. IS 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's office, No. 20 Nassau
Street, New York, on application. Sub
scribers will select their own Agents, in
whom they have confidence, who alone
viii be responsible to them for the safe
delivery of the bonds.
JOHN J. CISCO, Treasurer,
NEW YORK.
AGENTS IN EVANSVILLE: