The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1867-10-17
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UNION
RAILROAD CO.
Their FIRST MORTGAGE BONDS
AS An INVESTMENT.
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FIf UD HIt1
The rapid progress of the Union Pacific
Railroad, now building west from Omaha,
Nebraska, and forming, with Its western
connections, an roKen- line across the
continent, attracts attention to the vatue
of the First Mortgage Bonds which the
Company now offe- to the public. The
first question asked bS prudent investors
is, "Are these bonds secure?'' Next Are
they profitable Investment" To reply
In brief: 81 " -t''ti4 ft'sss i' -
LIST. The early completion 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 niilloo n
acres of land and fifty million dollars IN
its own bonds practically guarantees IL.
One-fourth of the work is already DONE
and the track continues to be laid at the
rate of two miles day. nawab 10
I'd. The union Pacific Railroad bonds
are issued upon what promises to be one OF
the most profitable lines OF railroad IN tne
country For many years IL must De Inc
only line connecting the Atlantic and Pa-
cific; and being without competition, IL
can maintain remunerativer rates.
I'd. Four hundred and twenty-five miles
of this road are finished, and fully equip
ned with depots, locomotives, cars, &c-p
way. The materials for the remaining
nineuy-two miles to the, eastern bass, of
the Rocky Mountains are on hand, and 1t
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, ana
If not another mile of the road were built
the part already completed would not only
pay interest and expenses, but De pront-
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 bond.fde property.
9Th. The amount is strictly limited by
law to a sum equal to what is granted by
the u. 8. Government, and for which IL
takes q second lien as its security THIS
amount upon the first 517 miles west from
Omaha is only sl6,O $50 per mile. "-1 Sc"
nth. The fact that the U. 8. Government
considers a second lien uponlithe road
good investment and that some OF Tue
shrewdest railroad builders OF the country
have already paid in ave million dollars
upon the stock (Which is to them third
nenl, may well inspire confdence In
9Th. Although 1T is not claimed that
there can be any better securities than
Governments, there are parties VINO cen
slider frst mortgage upon such properly
as this the very best security In the world,
and W no sell their Governments to REIN
vest in these bonds - thus securing
greater interest goss siaw stsl snl,i ~
9th. AS the Union Pacific Railroad bonds
are offered for 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. D.
stocks. n5E $50 tlae .g-l .sao1a't
lOsa-At the current rate OF premium on
gold, they payY87rDTA sd III
80 Ouer Nine, per Cent Interest. 81 n
The daily subscriptions are already large
and they will continue to be received In
New York by the snt ~. -.i4it
). CoNrINENTAL NATIONAL BANK,
l.tA No. Nassau Street;
CLARE. DoDGE & Co., Bankers, ta s
~. .rs -u tff c4 81 Wall Street;
JOHN J. CISCO & SoN. Bankers,
+ sy... No. 33 Wall Street;
and by Banks and Bankers general,
throughout the United States, of whom
maps and descriptive pamphlets may o.
ebtained. j They will also be sent by mai
from the Company's office, No. % Nassau
Street, New York, on application. Sub
scribers will select their own Agents, II
whom they have confidence, who alon
will be responsible to them for the sai
delivery OF the bonds.
JOHN j. CISCO, Treasurer,
IN go NEW YORK.
AGENTS IN EVA NS VILE:
rvAySyIJLE NATIONAL RANK