The Portland daily press., 1867-08-17
MISCELLANEOUS,
THE
q MO N PACIFIC
RAILROAD co.
Their First Mortgage Bonds
is an Investment


The rapid progress of the Union Pacific Railroad
now building west from Omaha, Nebraska, and fofn-
ing, with its western connections, an unbroken line
across the continent attracts attention to the value
ofthe First Mortgage Bonds which the Company now
offer to the public. The first question asked by pru
dent investorsis, care these bonds secure?" Next
"Are they profitable investment" To reply IN
brief:
1st The early completion of the whole great line to
the Pacific is as certain any future business event
can be. The Government grant Of over twenty mill
ion 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
Upon what promises to be of the most profitable
lines of railroad in the country. For many years 1t
must be the only line connecting the Atlantic and
Pacific; and being without competition, it can main
tain remunerative rates. EF asa
Sd. 425 miles of this road are finished, and fully
equipped with depots, locomotives. carr, and two
trains are daily running each way. The materials
for the remaining92 miles to the eastern base of the
Rocky Mountains are on hand, and it is under con-
tract to be done in September.
4h. The net earnings the sections already finish
ed are several times greater than the gold interest
upon the First Mortgage Bonds upon such sections,
and If not another mile of the road built, the
part already completed would not only pay interest
an expenses, but be prof able to the Company.
9th. The Union Pacific Railroad bonds be issued
only as the road progresses and therefore never
be in the market unless they represent bona file
property
9Th. Their amount is strictly limited by law to
sum equal to what is granted by the U. S. Govern
ment, and for which it takes second lien rs its
curity. This amount upon the first 517 miles west
from Omaha is only $4,000 per mile.
7th. The fact that the U. S. Government consd-
ers second Lien upon the road good investment,
and that some of the shrewdest railroad builders of
the country have already paid in five million dol
lars upon the stock (which is to them a third lienl
may well inspire confidence in first lien.
8th. 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 the very best security in the world,
and who sell their Governments to rc-nvest in these
bonds-,hus securing greater interest.
9Th. As the Union Pacific Railroad bonds Offer
ed for the present at 90 cents the dollar and
orued interest," they the cheapest security in the
Market being more than Is per cent. less than U. s.
Stocks. a .'7H'f
10th. the current rate of premium on gold,
they pay
OUer Nine Per Cent. Interest.
The daily subscriptions already large, and
they will continue to be received in New York by
the ,4 sgs
CONTINENTAL NATIONAL BANK, NOT Nassau St.,
CLARK, DODGE & Co., Bankers, No 81 Wall St.,
JOHN j. CISCO & SON, Bankers, No SO Wall ST.,
andby BANKS and BANKERS generally through
out 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 Nassau st.,
New York, on application. Subscribers will select
their own agents in whom they have confidence, who
alone will be responsible to them for the safe de-
livery OF the bonds. esa
JOHN J. CISCO, Treasurer,
,r - .6e., NEW YORK.
W. H. WOOD q SON, are agents for the sale Of
the above bonds in this city, june3d&w3m