The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1867-11-11
TIE
UNTON PACIFIC
lRAiLnQAptC &c.
Their FIRST 10 aTGGAGE BONDS
IS Az Is, Fls.aTNENT.

4 -n
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 va.ue
of the First Mortgage Bonds which the
Company now offer to the public. The
first question asked by prudent investors
is, "Are these bonds secure22' Next. s'Are
they profitable Investment" To reply
in brief:
lst The early completions 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 unon 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
cific; and being without competition, it
can maintain remuperative rates.
Sd. Four hundred and twenty-five miles
of this road are finished, and fully eqaip-
| ped with depots, locomotives, cars, &C.,
way. The materials for the remaining
nineLy-two miles to the eastern base of
the Rocky Mountains are on hand, and it
is under contract to berdone 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.
| 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 6OnG-J5de property.
9th. The amount is strictly limited by
| law to sum equal to what is granted by
| the U. s. Government, and for which II
takes a second lien as its security. This
/ amount upon the first, 517 miles west from
Omaha is only $4,000 per mile. i.
It'll. The fact that the U. S. Government
considers 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
| lienl, 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 con-
slider a nrst mortgage upon such property
as this the very best security in the world,
and who sell their Governments to re-in7
vest in these bonds = thus securing a
greater interest.
9Th. AS the Union Pacific Railroad bonds
are offered tor the present at 90 cents on
the dollar and accrued interest, they are
the cheapest security in the market. being
more than 10 per cent. less than U. s.
stocks. s'Ti
10th. At the current rate of premium on
gold, they pay sTfr
Over Vine per Cent Interest.
The daily subscriptions are already large,
| and they will continue to be received in
New York by the
CoNHrNESrAI NATIONAL BANK.
No. Nassau Street;
CLARK, DODGE, * Co. Bankers, 49,.
81 Wall Street;
| 3 JOHN. J. CISCO Son, Bankers,
No. 30 Wall Street;
i and by Bassks and Bo7skers 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 N assau
Street, New York, on application. Sub
seribers 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 J. CISCO, Treasurer,
NEW YORK.
AGENTS IN EVANSVILLE
EVANSVILLE NATIONAL BANK.