Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1867-09-05
THE UNION PACIFIC RAIL ROAD
l. co.
THEIR FIRST MORTGAGE BONDS AS AN
INVESTMENT

The rapid progress ofthe Union Pacific Raj.
road, now building west from Omaha, Nebras.
ks, and forming, with Its western connection.
an unoroken line across the continent, attract.
attention to the value OF the First Mortgape
Bonds which the Company now offer 10 tho
public The first question asked by prudep,
investors IL, Are these bonds secure :" Next
"Are they aprohtable inyestmenti" To reDly
in brief:
LIST. The early completion of the whole great
line to the Pacific is as certain as any future
business event can be- The Government vrar,
of over twenty million acres of land and inv
million dollars in Its own bonds PRACTICABLE
guarantees It, One fourth OF the work ia already
done, and the track continues to be laid at the
rate OF two miles day.
I'd. The Union Pacific Railroad bonds are Ia.
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
competition, 1t can maintain remuneratiye
rates.
Sd. 425 miles OF this road are finished, and
fully equipped with depots, locomotives, cars
&c, and two trains are daily running each way.
The materials for the remaining 90 miles to the
eastern base of the Rocky Mountains are on
hand, and II 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 II 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,
9Th. The Union Pacific Railroad bonds can be
issued only as the road progresses, and there.
fore can never be in the market unless they re-
present bona fde property.
Gin. Their amount Is strictly limited by law
to sum equal to what is granted by the U . S.
Government, and for which 1t takes a second
lien as its security. This amount upon the first
81 miles west from Omaha is only $1,000 per
| mile.
It'll. The fact that the U, s. Government con
sders second lien upon the road good in
vestment, and that some Of the shrewdest rail.
road builders OF the country have already paid
in five million dollars upon the stock (Which is
to them third lien), may well inspire conf
| uenCe IN nrst lien.
| cth. Although It is not claimed that there can
be any better securities than Governments
there are parties who consider first mortgage
upon such property as this the very beet secu.
rty in the world, and who sell their Govern.
ments to re-invest in these bonds-thus secur
| ing greater interest.
| 9th. AS the Union Pacific Railroad bonds are
offered for the present at 30 cents on the dollar
and accrued interest, they are the cheapest Sc
curity in the market, being more than Is per
cent. lees 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 win continue to be received in New York
| by the
Continental National Bank, Not Nassau St.,
Clark, Dodge, & Co., Bankers, 81 Wall St.,
John j. Cisco & Son, Bankers, No. 80 Wal
Street, and by Banks and Bankers generally
throughout the United States, of whom maps
and descriptive pamphlets mey be obtained
They will also be sent by mail from the Com.
| pany's Office, No, 20 Nassau Street, New York
| on application. Subscribers will select their
| own Agents in whom they have confidence, who
| alone win be responsible to them for the safe
delivery of the bonds.
JOHN j. CISCO, Treasurer,
may3Od&w3m New York