The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-10-07
UNION PACIFIC
..-Rai1rOadCo
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 unbrot
en- line across the continent attracts attention to
the value of tsss First Mortgage Bonds which tn.
Company now offer to the public. The first CUES
ton asked by prudent investors is, care these
bonds secure '"'~Nert, "Are they a profitable in
svestment?" To reply in brief:
LIST. The early completion of the whole great
line to the Pacific is at certain 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 to be laid at the rate of two miles
| a day.
I'd. The Union Pacific Railroad bonds are ia
| sued 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 Pacific; and being without com
petition, it maintain remunerative rates.
3D.. 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 80 miles to the east
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 are several times greater than tue 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.
9th. 4The Union Pacific Railroad bonds san he
issued 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. 5. Gov
| srnment, and for which it takes a second lien as
its security. This amount upon the first ST.
miles west from Omaha is only $4,000 per mile.
| 9th. The fact that the q. S. Government CON
siders a second lien upon the road good invest
| ment, and that some of the shrewdest railroad
builders of the country have already paid in five
million dollars upon the stock (which is to them
third lien) may well inspire confidence in q frat
| lien.
Sth. Although it is not claimed that there can
be any better securities than Governments, there
are parties who consider FIRST mortgage upon
sucu u property as tufs very pest security IN
the world, and who sell their Governments to re-
invest in these bonds-thus securing greater in
terest.
| sth. As the Union Pacific Railroad bonds are
offered for the present at 80 cents on the dollar
and accrued interest, they 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. Inter est.
| The daily subscriptions already large, ana
they will continue to be received in New York by
4 the
| CONTINENTAL NATIONAL BANK, No. Nassau
Street,
CLARE, DoDGs Co., BANKERS, 81 Wall St.
| JOIN j. Cisco & Son, BANKERS, No. 80 Wall
| Street,
and by BANKS AND BANKERS generally
throughout the United States, of whom maps and
descriptive pamphlet. may bs obtained. They
will also be sent by mail from the Company'l
Office, No. 20 Nassau Street, New York, on appli-
cation. Subscribers will select their own agents
| in whom they have confidence, who alone. will be
responsible to them for the safe delivery of the
| bonds.
JOHN :. CISCO,
TREASURER,
NfVY vnRH