Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1867-08-12
ki.k THE
UNION PACIFIC
RAILROAD co,
THEIR FIRST MORTGAGE ROgD,
As an Investment.

The rapid progress Of the Union Pacific Railroad
now building west from Omaha. NebraskA snd
forming, with its western connec ions an unbroL an
line across the contnen attracts attention Tn the
value Of the First Mortgage Bonds which the Coui-
pany now offer to the public. The first question
asked by prudent investors is, Are these bonds
secure 2" Next Are they profitable invest
ment ?" To reply in brief; i,
lst. The early completion of the whole great line
to the Pacific is certgin as any future business
event can be. The Government grant of over twep-
tv 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 contin
ues to be lai d at the rate of two miles day.
2d. The Union Pacific Railroad bonds are issued
upon what promises to be one of the most profita-
BILE lines of railroad in the country. For many
years 1t must be the only line connecting the At
lantic and Pacific; and being without competition.
it can maintain remur erative rates.
81. 425 miles of this road are finished, and fully
equipped with depots. locomotives, cars, &c. and
two trains are daily running each way. The mate
rals for the maining 90 miles to the eastern base
Of the Rocky Mountains on and and it is nm
der contract to be done in September.
4th. The net earnings of the sections already fin.
shed several ties greater than the gold inter-
est upon the First Mortgage Bonds upon such sec
tions, and if not mother mile of TIE road were
uilt. the part already completed would not only
pay interest and expenses. but be profitable to the
Company. RI a-ii4
5th. The Union Pacific Railroad bonds can be Is
sued only the road progresses and therefore can
never be in the market unless they represent bona
5fde property. f-.- t.-f,--sef.
6th Their amount is strictly Ii mited by law to a
sum equal to what is granted by the q. S. Govern
ment and for which takes second lien as its Sc
curity This amount upon the first 5H miles west
from Omaha is only sic. 900 per mile.
7th. The fact that the o. s. Government consid-
ers second lien upon the road q 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 LEM
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 NOR gage upon such a
property as this the very best security in the world
and who sell their Governments to re-inyest in
these bonds-thus securing q gr ater interest.
9TH As the Union Pacific Railroad bonds are Of
fered for the present at 90 cents on the dollar and
accrued interest thoy the cheapest security in
the market, being more than Is per cent less than
q. s. Stocks.
10th. At the current rate of premium on gold,
they pay
Over Nine per Cent. Interest.
The daily subscriptions are already large. and
| they will continue to be received in New York by
| the
Continental National Bank, No NASSAU st.,
Clark. Dodge & Co. Bankers. 81 Wall St.,
John ]. Cisco Son, Ranksrs, No. SO walIsL,
AND BY
RICKLY & BRO, Columbus, Ohio,
And by BANKS and BANKERS generally through
out the United States, of whom Maps and Descrip-
tive Pamphlets may be obtained. They will also be
sent by mail from the Company's Ofice No. 90 Mas
sau street, New York. on application. Subscribers
will select thereown Agents in whom they have con-
fdence. who alone will be responsible to them for
the safe delivery of the bonds.
JOHN CISCO, Treasurer,
NEW YORK.