The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-08-29
IT Il =
UNION PACIFIC
Railroad Co.
p 7QoES sEkSICE , -
Their FIRST MORTGAGE BONDS
A. an Investment.
Railroad Co

Inc rapid progress of the Union Pacific Rail-
road, now building west of Omaha. Nebraska.and
Forming, with its western connections. an unbrok-
en- line across the continent attracts attention 70
the value Of the First Mortgage Bonds which the
Company now offer to the public. The first ues.
tion asked by prudent investors is, "Are these
bonds securea" Next, "Are they 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
iness 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 at the rate of two miles
q day.
I'd. The Union Pacific Railroad bonds are is
sued upon what promises to be enc 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, carl. &c,
sad two trains are daily running each way The
materials for the remaining 80 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 are several times greater than the gold
interest upon the First Mortgage Bonds upon
such sections, and if not another mile of the road
we're built, the part already completed would not
only pay interest and expenses, but be profitable
to the Company.
5tb. The Union Pacific Railroad bonds can be
issued only as the road progresses and therefore
can never be in the market unless they represent
| a boaa jfdc property.
9Th. Their amount is strictly limited by law to
a 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 517
| miles west from Omaha is only $4,000 per mile.
9th. The fact that the u. S. Government con-
siders a second lien upon the road a good invest
| ment, and that some of the shrewdest railroad
builders of the country have already paid in Eve
million dollars upon the stock (Which is to them
. third Ien) may well inspire confidence in fra.
Lien. .- f.
| Sth. Although it is not claimed that there can
| be any better securities than Governments, there
| are parties who consider a first mortgage upon
such 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. .s-. -.. ...=
9th. As the Union Pacific Railroad bonds ar,
offered for the present at 90 cents on the dolla,
and accrued interest they are the cheapest securi
ty in the market, being more than Is per cent
less than L. 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, and
they will continue to be received in New York b,
the
CONTINENTAL NATIONAL BANK, No. Nassa,
; Street.
CLARK, DODGE Co., BANKERS, 81 Wall St
JOHN j. Cisco Soy, BANKERS, No. SO Wal
Street,
and by BANKS AND BANKERS general,
throughout the United States, of whom mans an,
descriptive pamphlets may be obtained. The,
win 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 tn
| bonds.
Jo" =. CISCO,
TREASURER.
NEW YORK.