The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-09-17
IT II b
UNION PACIFIC
Railroad Co.
THEIR FIRST MORTGAGE BONDS
As an Investment.

The rapid progress of the Union Pacific Rail-
road, now building west of Omaha. Nebraska,and
forming with its western connections, an unbrok-
en- hne across the continent attracts attention to
tne fAiue OIL the First Mortgage Bonds which the
company now oter to the public. The first ques-
ton asked by prudent investors is. care these
bonds secure = Next, care they profitable in
vestmentr To reply in brief:
LIST. The early completion of the whole great
line to the Pacific is 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, carr, &C.
and two trains are daily running each way The
materials for the remaining % miles to the east
ern base 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, 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.
| 5th. The Union Pacific Railroad bonds can he
issued only as the road progresses, and therefore
| can never be in the market unless they represent
a bona fd< property.
9th. Their amount is strictly limited by law to
| sum equal to what's granted by the q. S. Gov
eminent, and for which it takes a second lien as
its security. This amount upon the first SIT
miles west from Omaha is only s16,0 900 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
third lien) may well inspire confidence in q first
lien.
sth. Although 1t 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
invest in these bonds-thus securing greater in.
| tcrest.
9th. As the Union Pacific Railroad bonds ",
offered for the present at 80 cents on the dollar
and accrued interest, they are the cheapest sscur
ty in the market, being more than Is per cent
less than Z. S. Stocks.
10th. At the current rate of premium on gold
they pay
over Nine Per Cent. Inter est.
The daily subscriptions sre already large, snt
, they will continue to be received in New York b,
the
e CONTINENTAL NATIONAL BANK, No. Nassau
Street.
CLARE, DoDeE 4 Co., BANKERS, 81 Wall ST
JOHN ). Cisco & Son, BANKERS, No. SO Wal
Street,
and by BANKS AND BANKERS general
throughout the United States, of whom maps an
descriptive pamphlets may be obtained. The
will also be sent by mail from the Company
Office, No. 20 Nassau Street, New York, on appli
cation. Subscribers will select their own agent
!, in whom they have confidence, who alone will b
|, responsible to them for the safe delivery of til
a | bonds.
JOHN J. CISCO,
TREASURER,
n.,,o,,., NEW YORK.