The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-09-06
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- line across the continent, .,,r.o,s ...,,,;o 90
'ne Vaiue OF the First Mortgage Bonds which the
P~ny NO" 0ner to the public. The first ques-
'i'h ssAeu oy prudent investors is "Are these
bonds secure 2 Next, fare they a profitable in
vestment3" To reply in brief:
lst The early completion of the whole vrso,
line to the Pacific is certain as any future Inns
mess event can be. The Government grant If
over twenty million of land and City 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 daily running each way The
materials for the remaining go 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 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 be
issued only as the road progresses, and therefore
can never be in the market unless they represent
q boaa tfde 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 a second lien as
its security. This amount upon the first 517
| miles west from Omaha is only Sl6,0 per mile.
| 9th. The fact that the U. S. Government con-
| sders 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 a first
| lien.
| Sth. Although it is not claimed that there can
| be any better securities than Governments, there
| are parties who consider first mortgage upon
| such property this the very best security in
| the world, and who sell their Governments to re
| invest in these bonds-thus securing greater in.
| terest.
9th. As the Union Pacific Railroad bonds AZ.
offered for the present at 80 cents on the dolls,
and accrued interest, they the cheapest securi
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 are already large, ant
the
CONTINENTAL NATIONAL BANK, No. 7 Nassa,
Street,
CLARE, DopGE Co., BANKERS, 81 Wall St
JOHN j. Cisco SoN, BANKERS, No. 80 Wal
Street,
and by BANKS AND BANKERS general,
throughout the United States of whom maps an,
descriptive pamphlets may be obtained. The,
viii 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.
rr JOHN =. CISCO,
Il TREASURER,
NEW YORK.