Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1867-09-03
THE
UNION PACIFIC
RAILROAD CO.
THE
THEIR FIRST MORTGAGE BONDS
As an Investment.

The rapid progress Of the Union Pacific hailroad
now building west from Omaha, Nebraska. and
forming, with its western connec ions, unbroben
line across the continen attracts attention to the
value Of the First Mortgage Bonds which the Com
pany now offer to the public. The first question
asked by prudent investors is, Are these bonds
secure p Next, Are they a profitable invests
ment?' To reply in brief:
LIST. The early completion of the whole great line
to the Pacific is certain as any future business
event can be. The Government grant of over twen-
ty million of land and fifty million dollars in
its own bonds practically guarantees it. One fourth
of the work is already done, and the track contin
ues to be laid at the rate of two miles day.
2d. The Union Pacific Railroad bonds are issued
upon what promises to be one of the most protita-
Bile lines of railroad in the country. For many
years it must be the only line connecting the At
lantic and Pacific; and being without competition
it can maintain remup erative rates.
Sd. 425 miles of this road are finished, and fully
equipped with Gepots. locomotives, cars, &C.. and
two trains are daily running each way The mate
rals for the remaining 80 miles to the eastern base
of the Rocky Mountains sre on and, and it is un-
der contract to be done in September"
4th. The net earnings of the sections already fin.
ished are seceral times 0redtr then the gold inter-
est upon the First Mortgage Bonds upon such Sec
tions, and if not another mile cf tie road were
pay interest and expenses but be profitable to the
Company. g.
5th- The Union Pacific Railroad bonds can be is
sued only the road progresses and therefore can
never be in the market unless they represent bona
tide property.
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 lien as its Sc
curity. This amount upon the first 517 miles west
from Omaha is only $l6, 900 per mile.
7th. The fact that the U. S. Government consid.
a second lien upon the road good investment
and that some of the shrewdest railroad builders Of
the country have already paid in Eve million dol.
lars upon the stock (Which is them third lien)
NAV well inspire confidence in a first lien.
9Th. Although it is not claimed that there can bt
any better securities than Governments there are
parties who consider first NOR gage upon such 9
property as this the very best security in the world
and who sell their Governments to re-invest il
these bonds-thus securing gr ater interest.
9th. As the Union Pacific Railroad bonds are of.
fered for the present at 80 on the dollar and
accrued interest they the cheapest security in
the market, being more than Is per cent less than
U. s. Stocks.
10th. AT the current rate of premium on gold
they pay --..
Over Nine per Cent. Interest.
The daily subscriptions are already large. and
they will continue to be received in New York By
the .5Va, 90
Continental National Bank, No. z Nassau s.,
Clark, Dodge Co.. Bankers, 81 Wall St..
John ]. Cisco & Son, Eankers, No. 33 Wall ST.,
AND BY
RIGKLY & BRO, Columbus, Ohio,
And by BANKS and BANKERS generally through.
out the United States, of whom Maps and Descrip.
tive Pamphlets may be obtained. They will also be
sent by mail from the Company's Office No. 90 Mas.
sau street. New York. on application. Subscribers
will select there own Agents in whom they have cen.
fdence, who alone will be responsible to them fol
the safe delivery of the bonds.
JOHN J. CISCO, Treasurer,
NEW oRK.