Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1867-09-02
The,
PACIFIC
RAILROAD co.
THEIR FIRST MORTGAGE. BONDS
AS an Investment.

The rapid progress of the Union Pacific hailroad
now building west from Omaha, Nebraska, az
forming, with its western connec ions, unbroken
line across the continen attracts attention tie
value of the First Mortgage Bonds which the Com-
pany now offer to the public. The first question
asked by prudent investors is. Are these bonds
secure?" Next, Are they profitable invests
ment3' To reply in brief: :.-sf1 irJ-i.iJ /
lst. The early completion of the whole great lire
to the Pacific is as certain as any future business
event can be. The Government grant of over twtu-
ty million acres of land and fifty million dollars in
its bonds practically guarantees it. One fourth
of the work is already done, and the track contin
ues to be laid at the rate of two miles day.
9d. The Union Pacific Railroad bonds are issued
upon what promises to be one of the most profta-
bic lines of railroad in the country. For many
years it must be the only line connecting the At
lantic and Pacific; and being without competition
it can maintain remup erative rates. '+'F i' ID
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 matte
ras for the remaining 90 miles to the eastern base
of the Rocky Mountains sre on and ,and it is nm
der contract to be done in September. "'l =
4th. The net earnings Of thes ctions already tin-
ished are several greater thsn the gold inter
est upon the First Mortgage Bonds upon such sec
tions, and if not another mile f tie road were
pay interest and expenses but be profitable to the
Company.
9Th. The Union Pacific Railroad bonds can be Is
sued only as the road progresses and therefore can
never be in the market unless they represent bona
tide property. ugf,- f,f-1i74tul L
9th. Their amount is strictly limited by law to a
sum equal to what is grant ed by the u. s. Govern
ment, and for which it takes second lien its
curity. This amount upon the first SIT miles west
he iao a mn =
7th. The fact that the U. s. Government consid.
ers second lien upon the road good investment
and that of the shrewdest railroad builders Of
the country have already psid in Eve million dol
lars upon the stock (Which is them third lien)
NAV well inspire confidence in first lien.
sth. Although it is not claimed that thor can be
any better securities than Governments, there are
parties who consider first NOR gage upon such /,
property this the very best security in the world
and who sell their Governments to re-invest il
these bonds-thus securing gr alter interest. 81 e.
9th. As the Union Pacific Railroad bonds are of.
fered forthe present at 80 cents on the dollar anc
accrued interest they the cheapest security il
the market. being more than Is per cent less thar
q. s.. Stocks. I'll r-iirF71aj tafui
10th. At the current rate of premium on gold
they pay 3HiD 1f4 7tg0'
Over Nine per Cent. Interest.
Inc raily subscriptions are already large. anC
they will continue to be received in New York b!
the
Continental National Bank, No Nassau ST.,
Clark. Dodge g Co. Bankers, 81 Wall St.. p
/ John j. Cisco & Son. Rankers, No. 80 waIsr,
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 b
sent by mail from the Company's Office, No. 90 Mas
sau street. New York. on application. Subscriber
will select there ownAgents in whom they have con
fdenre who alone will be responsible to them fo
the safe delivery of the bonds. #
JOHN J. CISCO, Treasurer,
s. New oRK.