The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1867-08-24
MlSCELa.ANE NEUlS.
THE
u N 10 N PACIFIC
RAILROAD co.
Their First Mortgage Bonds
As an Investment

The rapid progress of the Union Pacific Railroad,
now building west from Omaha, Nebraska, and form
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. he first question asked by pru-
dent investors Is, "Are these bonds secure?" Next
''Are they profitable investmcnt?" 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 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 one of the profitable
lines ofrailroad 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.
Sd. 425 miles of this road are finished, and fully
equipped with depots, locomotives. cars ,and two
trains are daily running each way. The materials
tor the remanng92 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 fthe sections already finish
ed are several times greater than the gold interest
up III onO EhSs nAoAtSaSc DOuuS upOu SUCH StclOuS,
and ifnot another mile of the road were 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 can be issued
only the road progresses and therefore can never
be in the market unless they represent bona Jfde
property. sFf ie t...-. f47.-l.e.t. ..a
9Th. Their amount is strictly limited by law to a
sum equal to what is granted by the U. S. Govern
ment, and for which it takes second Hen rs its Sc
curty. This amount upon the first SIT miles west
from Omaha is only $4,000 per mile.
7th. The fact that the u s. Government consid-
ers a 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 third lienl
may well inspire confidence in first lien.
sth Although 1t is not claimed that there can be
any better securities than Governments, there
parties who consider first mortgage upon such
aproperty as the very best security in the world,
and who sell their Governments to reinvest in these
bonds-,hus securing greater interest
9TH AS the Union Pacific Railroad bonds are offer
ed for the present at 90 cents the dollar and
crued interest," they the cheapest security in the
market, being than 10 per cent less than U. S.
Stocks sa3
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 at's r 9 9as.J ,.1l -ts.it s..HL s-
CONTINENTAL NATIONAL BANK, NOT Nassau ST.,
CLARK, DoDeE & Co., Bankers, No 81 Wall St.,
JoHr j. CISCO & SON. Bankers, No 80 Wall ST.,
andby BANKS aud BANKERS generally through
out the United States of whom and descriDtiye