Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1867-08-28
THE
Union PACIFIC
RAILROAD co,
THE
THEIR FIRST MORTGAGE BONDS
AS an Investment.

The rapid progress of the Union Pacific Railroad,
now building west from Omaha, Nebraska. and
forming, with its western connec ions, unbroken
line across the continen attracts attention to the
value of the First Mortgage Bonds which the Cou-
pany now offer to the public. The first question
asked by prudent investors is. Are these bonds
secure p Next, Are they q profitable invest-
mentF' To reply in brief:
1st. The early completion of the whole great lire
to the Pacific is as certain any future business
event can be. The Government grant of over twen-
ty million acres of land and fifty million dollars in
its 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 profta-
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 remuu erative rates.
81. A25 miles of this road are finished. and fully
equipped with oepots, locomotives, cars, &c., ard
two trains are daily running each way. The NATE
rals for the remaining 90 miles the eastern base
of the Rocky Mountains ere on and and it is un-
der contract to be dore in September.
4th. The net earnings cf the sections already fin.
ished seUerGI times great then the gold inter
est upon the First Mortgage Bonds upon such Sec
tions, and if not another mile If tt Q road were
built. the part already completed would not only
pay interest and expenses. but be profitable to the
Company. '-
5th. The Union Pacif, Railroad bonds can be Is.
sued only the road progresses and therefore car
never be in the market unless they represent BOND
tide property. 5.i Af.t
9Th. Their amount is strictly limited by law to Z
sum equal to what is granted by the o. s. Govern.
ment. and for which it takes asecond lien as its Sc
curity. This amount upon the first 5I7 miles west
from Omaha is only sic. 900 per mile.
7th. The fact that the U. S. Government consid
ers secondlien upon the road a good investment
and that some of the shrewdest railroad builders
the country have already paid in five million del
lars upon the stock (Which is 10 them third lien)
may well inspire confidence in first lien.
sth. Although it is not claimed that there can b,
any better securities than Governments, there ART
parties who consider first NOR gage upon such
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 cents on the dollar anS
accrued interest they the cheapest security il
the market, being more than Is per cent less thai
q. s. Stocks.
10th. At the current rate of premium on gold
they pay
Over Nine per Cent. Interest.
The daily subscriptions are already large ant
they will continue to be received in New York b,
the 4.l
Continental National Bank, No Nassau 81,
Clark. Dodge & Co., Bankers. 81 Wall St..
John ]. Cisco Son, Pankers, No. 33 WalIsr.,
.. ANDBY
RICKLY & BRO, Columbus, Ohio,
And by BANKS and BANKERS generally through.
out the United States of whom Mans and Descr;n
tive Pamphlets may be obtained. They will also be
sent by mail from the Company's Office, No. 20 Mas
sau street. New York. on application. Subscribers
will select there own Agents in whom they have con.
fdence. who alone will be responsible to them fo,
the safe delivery of the bonds.
NEW oRK.