The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1867-10-01
,,NuEUNiON PACIFIC RAILROAD
COMPANY.
THEIR FrRST MORTGAGE BONDS
As an live 'tinrnt.

The rapid progress oi the Union .acltc kailroa'.
now building west from omaha, N'"iaskn, ana
lOiming with its western come, ions, an uii"oSeh
line across the continent attracts n, cntion to -
value oi the First NJ rgagc Bonds wllicl, he Com
lanv now oiler to the public. Tue first qucs ION
asked by prudent investors is, care these bonds
secure" Next Are they IA prolitable invest.
ment?" To reply in brief:
l>t. The early completion Of the whole great
line to the Pacific is as certain any future hiisi-
ness event can he. The Government grant Of over
twenty million acres Of land and lity million dol.
lars III its own bends practically guar.ntecs il.
One fourth o the work is already Done aud the
track continues to lie laid at the rate vi two miles
u da>.
"a. The Union Pacific Railroad bonds are issued
upon what promises 10 he one Oft q most profit
able lines Of railroad in the country. For many
years it must he the only line connecting thr
Atlantic and Pacific; and being ithout cuinpe-
tition it can maintain icmuncrativc rates.
81 l23 miles Of tins road finishrd. and fully
equipped with dcpots locomotives c rs, Sc. and
twu trains are daily running each way. The ni-
terials for the remaining " miles to the eastern
base Of the Rocky Mountains are IN hand, and it
is under contract to he done in September.
4tl The net earnings of the sections already
finished are several time greater than the gold IN
tercst upon the First Mortgage bonds upon such
sections. and il another mile Of the road were built
the part already completed would not only pav
inter 1t and expenses, but I've profitable to the
Company.
5th The Union Pacific Railroad bond. can he
issued only AS the road Progresses, and therefore
can never bc in the market unless they represent
u Jond fie property
9Th. Their amount Is stiicilv limitel hv law to
u sum eqnal To what is granted by the l. :. Gov
ernment, and for which it takes u second lien rs
its security This amount uopn the first jl1 miles
west from Omaha is only :l6OOO per mile
9Th. Tine fact that the L, ). Government consil.
erS a second lien upon the road good investment,
and that some of the slrcwdc>t railroad builders
OF the country have already paid in live million
dollars upon the stock (Which il to them third
lien) may well insli confidence in first lien.
9Th. Although it il not claimed that there can
lie anv bstter securities than Governments there
are parties who consider first mortgage upou
such u property a this the ser, best ,ecuritv in
the world, and who sell their governments to re-.
invest in these rOnds-tus securing greater
interest.
9th As the Union Pacific Railroad bonds are
oifere, tor the present. at 81 cents on thu d. liar
and accrued they are the cheapest security ia the
market. l~ing more than Il per cent. less than
L. =. Stocks.
~. At the current rate If premium oil gold
they pay
OVER NISEfER CENT. INTEREST.
The daily subscriptions are already large. and
they Will continue to lie received bv the
Continental National Bank. No. Nassau St,
Clark, Dodge Co., Bankers. 81 Wall ST.. John
J. Cisco & Son, Bankers, NJ. 81 Wall ST., and nv
hanks and Bankers generally thr, ughout the
United States, oi whom maps aud descriptive
pamphlets may he obtained. They will also he
sent by mail from the Iompanv's Office, No. ~
Nassau Street, New York. on application. Sub
scribers will select their own agents in whom,
they have confidence. who alone will lie responsible
| to them for the sai. delivery of the bonds
JOHN J. CISCO, Treasurer,
1i;3m New York