The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-09-14
UNION PACIFIC
THEIR FIRST MORTGAGE BONDS
As an Investment.

The rapid progress of the Union Pacific Rail-
road, now building west of Omaha, Nebraska, and
forming, with its western connections, an unbrok-
eh line across the continent, attracts attention to
the value OF the First Mortgage Bonds which the
Company now offer to the public. The first cues
ton asked by prudent investors is, care these
bonds secure" Next, "Are they a profitable in
vestment?" To reply in brief:
lst The early completion of the whole gres,
line to the Pacific is as certain as any future bus
mess event can be. The Government grant of
overtwenty 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 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 com
petition, it can maintain remunerative rates.
| Sd. 425 miles of this road are finished. and
fully equipped with depots, locomotives, cars, De-
and two trains are daily running each way. The
materials for the remaining 90 miles to 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
a sum equal to what is granted by the U. s. Gov
| eminent, and for which it takes q second lien as
its security. This amount upon the first 5l7
miles west from Omaha is only SIG, 900 per mile.
9th. The fact that the U. S. Government con-
siders a second lien upon the road good invest
| ment, and that some of the shrewdest railroad
builders of the country have already paid in five
million dollars upon the stock (which is to them
a third LEM may well inspire confidence in a first
lien.
Sth. Although it is not claimed that there car
be any better securities than Governments, Their,
are parties who consider a first mortgage upon
| such properly as THIS the very BEST security II
the world, and who sell their Governments to re
invest in these bonds-thus securing greater in
| terest.
9th. As the Union Pacific Railroad bonds ar
offered for the present at 80 cents on the dolla
and accrued interest, they the cheapest sscuri
ty 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 already large, an
they will continue to be received in New York b
the
CONTINENTAL NATIONAL BANK, No. Nasss
\ Street.
CLARE, DODGE Il Co., BANKERS, 81 Wall ST
JOHN ). CISCO Son, BANKERS, No. SO Wal
Street,
: and by BANKS AND BANKERS general
throughout the United States, of whom maps an
descriptive pamphlets may be obtained. The
will also be sent by mail from the Company
Office, No. 20 Nassau Street, New York, on appli
cation. Subscribers viii select their own agent
in whom they have confidence who alone will b
|, responsible to them for the safe delivery of III
= bonds.
JOHN !. CISCO.