The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-10-02
ITT01THH-t ] .
UNION PACIFIC
go Railroad Co.
THEIR FIRST MORTGAGE BONDS
As an Investment.

Inc rapid progress of the Union Pacific Rail
road, now building west of Omaha. NebraskaaAd
forming, with its western connections. an upbrok
en- line across the continent attracts atlantic, r.,
the value of the First Mortgage Bonds which the
Company now offer to the public. The first ques-
ton asked by prudent investors is, care these
bonds secure 2 Next, care they profitable in
vestment" To reply in brief:
LIST. The early completion of the whole great
line to the Pacific is as certain as any future bus
mess event can be. The Government grant of
over twenty million 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 is
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 can maintain remunerative rates.
Sd. 425 miles of this road are finished, and
fully equipped with depOts, locomotives, cara, &c,
and two trains are daily running each way. The
materials for the remaining 90 miles to the east
ern base of the Rocky Mountains 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 Che 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. - ---. .--z.-.. ....
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
bona tide property.
9th. Their amount is strictly limited by law to
a sum equal to what is granted by the U. S. Gov
eminent, and for which it takes second lien as
its security. This amount upon the first 5I7
miles west from Omaha is only $4,000 per mile.
9th. The fact that the U. S. Government con-
siders 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
a third lien) 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 mortgage upon
such property as this the very best security in
the world, and who sell their Governments to
invest in these bonds-thus securing greater in
terest.
9th AS the Union Pacific Railroad bonds ere
offered for the present at go cents on the dollar
and accrued interest they the cheapest securi
ty in the market, being more than Is PEI cent.
less than U. S. Stocks.
10th. At the current rate of premium on gold,
| they pay
ever Nine Per Cent. interest
The daily subscriptions already large, and
they will continue to be received in New York by
| the
| CONTINENTAL NATIONAL BANK, No. Nassau
Street.
CLARE, DODGE Co., BANKERS, 81 Wall St.
! joan J. Cisco 4 Son, BANKERS, Ne. SO 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 from the Company
Office, No. 20 Nassau Street, New York, on appli-
| cation. Subscribers viii select their own agent
| in whom they have confidence, who alone will
responsible to them for the safe delivery of tho
| bonds.
| JOHN =. CISCO,