The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1867-11-05
THE
UNION PACIAA ia
RAILROAD CO.
Their FIRST MOaTGtGE Is
AS AN INVESTMENT.

The rapid progress OF the Union i-stizf4i1
Railroad, now bdilding west from Onls.i1se,
Nebraska, and forming, with its western
connections, an unbroKen line across the
continent, attracts attention to the va.ue
OF the First Mortgage Bonds which the
Company now Offer to the public. The
first question asked by prudent investors
is, s'Are these bonds secure?" Next, "Are
they profitable investment? To reply
in brief:
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 million
acres of land and fifty million dollars IN
its own bonds practically guarantees 1t.
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 one OF
the most profitable lines of railroad in the
country. For many years it must be the
only line connecting the Atlantic and Pa
cific; and being without competition, 1t
| can maintain renunerative rates.
Sd. Four hundred and twenty-five miles
| of this road are finished, and fully equip
ped with depots, locomotives, cars, &C.,
| and two trains are daily running each
W.
nineLy-two miles to the eastern 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
1 pay interest and expenses, but be 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 6o1to-fde property.
9Th, The amount is strictly limited by
law to a sum equal to what Is granted by
the u. s. Government, and for which 1t
/ takes a second lien as it's security. This
amount upon the first SIT miles west from
Omaha is only $4,000 per mile
nth. The fact that the u. S. Government
| considers a second lien upon the road
good investment, and that some OF Cns
shrewdest railroad builders of the country
have already paid in five million dollars
upon the stock (which is to them tnlrd
Iien1, may well inspire confidence in
first lien.
sth. Although it is not claimed that
there can be any better securities than
Governments, there are parties who con-
| slider a drst mortgage upon such property
as this the very best security in the world
and who sell their Governments to rein
vest in these bonds thus securing 9
greater interest.
eth. 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. S
stocks. #5 s8-
10th. AT the current rate of premium OF
gold, they pay
Oger Nine per Cent. Interest.
The daily subscriptions are already large
and they will continue TO be received il
. New York by the .A.a Sis 81
CONTINENTAL NATIONAL BANK,
at No. Nassau Street;
CLARK. DODGE s. Co., Bankers,
81 Wall Street;
, JOHN ]. CISCO & Son. Bankers,
No. 80 Wall Street;
and by Banks and Bankers general,
throughout the United States, of whom
maps and descriptive pamphlets may b
P obtained. They will also be sent by mai
from the Company's office, No. 20 Nassau
street, New York, on application. Sub
scribers will select their own Agents, Il
whom they have confidence, who alon
4 will be responsible to them for the SAT
delivery of the bonds.
JOHN j. CISCO, Treasurer,
F NEW YORK.
AGENTS IN EVANSVILLE:
EzxT