The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-08-31
IT II Il
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 NAbr. slra and
forming, with its western connections On rbt
en- line across the continent attra..o o+.o,.;o o.
the value OF the First Mortgage Bonds whicb tho
company no" oher to the public. The first cues.
tion asked by prudent investors IL. car. tho.
bonds secure y Next 'Are they profitable in
vestment" To reply in brief:
LIST The early completion of the whole great
line to the Pacific is certain as any future bus
mess event 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 mast
profitable lines of railroad in the country For
many years it must be the only line connac,;o,
the Atlantic and Pacific; and being without co,,-
| petition it can maintain reInunerative rates
Sd. 425 miles of this rcud are faikbcd. and
fully equipped with depOts, locomotives. cars e.
| and two trains are daily running each way. Tho
materials for the remaining " miles 10 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
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
| a bona tide property.
9th. Their amount is strictly limited by law to
sum equal to what is granted by the T. S. Gov
! eminent, and for which it takes second lien as
| its security. This amount upon the first 5I7
| miles west from Omaha is only goo per mile
9th. The fact that the U. S. Government con-
| siders second lien upon the road good invest
ment, and that of the shrewdest railroad
builders of the country have already paid in FIVE
million dollars upon the stock (Which is to them
third iien) 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 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 a greater in
| terest.
9th. As the Union Pacific Railroad bonds are
offered for the present at 80 cents on the dollar
and accrued interest, they are the cheapest securi
| ty in the market, being more than 10 per cent
less than l. :. Stocks.
10th. At the current rate of premium on gold.
they pay
ever Nine Per Cent. Interest.
The daily subscriptions are already large, and
they will continue to be received in New York by
the
CONTINENTAL NATIONAL BANK, No. Nassau
Street,
CLARK, DopGE Co., BANKERS 81 Wall ST
JoHN j. CISCO Il Son, BANKERS, No. 80 Wal
Street,
and by BANKS AND BANKERS general,
throughout the United States, of whom mans and
descriptive pamphlets may be obtained They
viii also be sent by mail from the Companv's
Office. No. 20 Nassau Street, New York. on appli.
cation. Subscribers will select their own agents
in whom they have confidence who alone win be
responsible to them for the safe delivery Of tbs
| bonds.
JOHN J. CISCO.
| TREASURER
NEW YORK.