The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-09-13
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. Nebraskaaud
~ win It's western connections, an unbrok
en- lne across the continent attracts attention to
tne saiue OF the First Mortgage Bonds which the
company no" offer to the public. The first aues-
ton asked by prudent investors is "Are these
bonds secure Z" Next, "Are they a 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 can be. The Government grant of
over twenty million acres 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 miller
day.
I'd. The Union Pacific Railroad bonds are is
sued upon what promises to be 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.
3D. 425 miles of this road are finished, and
fully equipped with depots, locomotives, cars, &C.,
and two trains daily running each way. The
materials for the remaining " miles to the east
ern base of the Rocky Mountains are hand
| and it is under contract to be done in September
4th. The net earnings of the sectionss 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.
9Th. The Union Pacific Railroad bonds can be
issued only the road progresses and therefore
can never be in the market unless they represent
bona fds 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 SIT
miles west from Omaha is only $4,000 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 tie country have already paid in five
million dollars upon the stock (which is to them
q third ien) may well inspire confidence in a first
lien.
Sth. Although it is not claimed that there car
be any better securities than Governments, there
are parties who consider first mortgage upon
such property as this the very best security il
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. Inter est.
The daily subscriptions are already large, anc
they will continue to be received in New York b,
the
CONTINENTAL NATIONAL BANK, No. Nsssa,
Street,
CLARE, DoDGE & Co., BANKERS, 81 Wall St
JOHN J. Cisco Son, BANKERS, No. 80 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 will select their own agent
, in whom they have confidence, who alone will b
, responsible to them for the safe delivery of tn
! bonds.
JOHN =. CISCO,
TREASURER.
NEW YORK.