The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1867-12-05
JOS. q. COLEMAN,
UNION Af ACE EHC
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 It's western
connections, an unbroken line across the
continent, attracts attention to the w Pc
of the First Mortgage Bonds which {
Company now ofIe" to the public.
first question asked by prudent inyesf
is, care these bonds secure?" Next, -.
they profitable investment7" To re
in brief:
Ist. The early completion OF the whCsrs
great line to the Pacific is as certain asa 81
future business event can be. The &C.
eminent grant OF over twenty million
acres of land and nifty million dollars in
its own bonds practically guarantees 1T.
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 issued upon what promises TO be one of
the most profitable lines of railroad in the
country. For many years 1t must be the
only line connecting the Atlantic and Pa
cific; and being without competition, II
can maintain remunerative rates.
Sd. Four hundred and twenty-five miles
of this road are finished and fully equip
ped with depots, locomotives, cars, Sc.y
and two trains are daily running each
nineJy-two miles to the eastern bose OF
the Rocky Mountains are on hand, and IL
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.
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 bOna-f 5ole property.
9Th. The amount is strictly limited by
Law to a sum equal to what is granted by
the u. s. Government, and for which IL
takes a second lien as its security. This
amount upon the first 5l7 miles west from
Omaha is only $4,000 per mile.
18th. The fact that the u. $. Government
considers a second lien upon the road a
good investment, aud that some OF the
shrewdest railroad builderH0f the country
have already paid in I'VE million dollars
upon the stock (Which is TO them a third
LIEN, may well inspire confidence in a
first lien.
8th. Although it is not claimed that
there can be any better securities than
Governments there are parties who con-
slider first mortgage upon such property
as this the very best security in the world,
and VINO sell their Governments to rein
vest in these bonds - thus securing a
greater interest.
9Th. AS the Union Pacific Railroad bonds
are offered tor the present at 80 cents on
the dollar and accrued Interest, they are
the cheapest security 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
OUer Nine per Cent Interest.
The daily subscriptions are already large,
and they will continue to be received in
New York by the
CoSTIEENTAL NATIONAL BANK,
No. 7 Nassau Street;
CLARK, DODGE d Co, Bankers,
81 Wall Street;
JOHN J. CISCO & Son, Bankers,
No. 80 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
rom the Company's office, No 20 Nassau
Street, New York, on application. Sub
icribers will sel%t 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 YOR-
AGENTS IN EVANS VILE.
EVANSVILLE NATIONAL BANT