The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-08-19
UNION PACIFIC
THEIR FIRST MORTGAGE BONDS
As an Investment.

The rapid progress of the Union Pacific Rail-
road, now building west Of Omaha, Nebraska,an
forming, with its western connections an unbrok-
en- line across the continent, attracts attention to
the value of the First Mortgage Bonds which the
Company now offer to the public. The first cues
ton Hasked4by prudent investors is, "Are these
bonds secure ?" Next, "Are they a profitable in
vestment?" To reply in brief
LIST. The early completion of the whole great
line to the Pacific is as 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 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, cars, DC.
and two trains are daily running each way The
materials for the remaining go 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 several times greater than the gold
| interest upon the FIRST Mortgage Bonds upon
such sections and if not another mile of the road
were bailt, the part already completed would not
only pay interest and expenses, but be profitable
| 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
= bona fde property.
9th. Their amount is strictly limited by law to
sum equal to what is granted by the U. s. Gov
| eminent, and for which it takes q second lien as
its security. This amount upon the first 81.
miles west from Omaha is only $50 per mile.
9Th. The fact that the U. 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
a third Iien) 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 a property as this the very best security in
the world, and who sell their Governments to re-
invest in these bonds-thus securing greater in
terest
9th. As the Union Pacific Railroad bonds are
offered for tha present at 90 cents on the dollar
and accrued interest they the cheapest securi-
ty in the market, being more than IS per cent
less than Q, S. Stocks.
10th. At the current rate of premium on gold
they pay
ever Nine Per Cent. Inter est.
The daily subscriptions sre already large, ani
they will continue to be received in New York BY
the
CoSTnExrAL NATIONAL BANK, No. Nassau
Street,
GLARS, DopGE Co., BANKERS, 81 Wall St
JONI 3. CISCO d Soy, BANNERS, No. 80 Wal
Street,
, and by BANKS AND BANKERS generally
throughout the United States, of whom maps ant
descriptive pamphlets may be obtained. They
viii also be sent by mail from the Company.
| Office, No. 20 Nassau Street, New York, on sppli
cation. Subscribers will select their own agents
, | in whom they have confidence, who alone will b
responsible to them for the safe delivery of tn
bonds.
JOHN J. CISCO,
TREASURER,
NEW YORK.