The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-08-23
UNION PACIFIC
RailrOadCO.
THEIR FIRST MORTGAGE BONDS
As an Investment.

Inc rapid progress of the Union Pacific Rail-
ROAD now building west of Omaha Nebraska and
forming, with its western connections ON ,h-oL
en- line across the continent. attracts .,,o..;..
Tue 'a'ue VI the r rst Mortgage Bonds which the
Company NO" ohef TO the public. The first CUES
ton asked by prudent investors is. caro- thu.
bonds secure p Next "Are they profitable in
vestment?" To reply in brief:
LIST. The early completion of the whole erea,
line to the Pacific is certain as any future bus
mess event can be. The Government grant of
over twenty million of land and fifty million
dollars IN its own bonds practically guarantee it.
one-tourth of the work is already done, and the
track continues to be laid at the rate of two miles
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 II must be the onl~ line connecting
the Atlantic and Pacific; and being without com
| petition, it can maintain remunerative rates
3D. 40 miles of this road are finished. and
fully equipped with dcpots, locomotives, cars, de-,
and two trains are daily running each way. The
materials for the remaining 20 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.
5tb. The Union Pacific Railroad bonds can be
issued only the road progresses, and therefore
can never be in the market unless they represent
bona tde property.
| 9Th. Their amount is strictly limited by law to
a sum equal to what is granted by the T. s. Gov
! eminent, and for which it takes a second lien as
| its security. This amount upon the first 5I5
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 the country have already paid in five
million dollars upon the stock (which is to them
third len) may well inspire confidence in first
| lien.
| sth. 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 best security in
| 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 are
offered for the present at 90 cents on the dollar
and accrued interest they the cheapest securi-
ty in the market, being more than Is per cent
less than Z. S. Stocks.
10th. At the current rate of premium on gold
u they pay
over Nine Per Cent. Inter est.
The daily Subscriptions are already large, and
they will continue to be received in New York by
the
CONTINENTAL NATIONAL BANK, No. Nassau
Street,
CLARE, DoDGE Co., BANKERS, 81 Wall ST.
JoHS ). Cisco L SoN, BANKERS, No. 50 Wall
Street,
and by BANKS AND BANKERS generally
throughout the United States, of whom maps and
descriptive pamphlets may be obtained. They
| will also be sent by mail from the Company's
Office, No. 30 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 J. CISCO,
TREASURER.
NEW YORK.
| msy3odw3m.