The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1867-08-16
MISCELLANEOUS.
THE ~ t.--ssEEsss GE
u N ION PACIFIC.
RAILROAD co.
Their First Mortgage Bonds
as 07s Investment

The rapid progress of the Union Pacific Railroad,
now building west from Omaha, Nebraska and form
ing with Its western connections, unbroken line
across the continent attrac attention to the value
ofthe First Mortgage Bonds which the Company now
offer to the public. The first question asked by pru-
dent investors is "Are these bonds secure?" Next,
fare they profitable investment?" To reply in
| brief:
lst The early completion of the whole great line to
the Pacific is as certain any future business event
can be- The Government grant of over twenty mill
i ion acres of land and fifty million dollars in its own
bonds practically guarantees it. One fourth 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 issued
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 competition, it can main
| tain renunerative rates.
Sd. 425 miles of this road are finished, and fully
equipped with depots, locomotives cars. land two
| trains are daily running each way. The materials
for the remanng92 miles to the eastern base of the
Rocky Mountains are on hand, and it is under con-
| tract to be done in September -ia
4th. The net earnings ofthe sections already finish
ed are several times greater than the gold interest
upon the First Mortgage Bonds upon such sections,
and if not another mile of the road built, the
part already completed would not only pay interest
| an expenses, but be prof able to the Company.
9Th. The Union Pacific Railroad bonds can be issued
only as the road progresses and therefore never
be in the market unless they represent bona fde
property.
9th. Their amount is strictly limited by law to a
sum equal to what is granted by the U. s. Govern
ment, and for which it takes second lien as its Sc
ouiity This amount upon the first 5t7 miles west
from Omaha is only $4,000 per mile. aa
7th. The fact that the U. S. Government consid-
ers second Lien upon the road a good investment
and that some of the shrewdest railroad builders of
the country have already paid in five million dol
lars upon the stock (which is to them third lienl
may well inspire confidence in first lien. -...-
9Th. Although il is not claimed that there can be
any better securities than Governments, there are
parties who consider first mortgage upon such
property as the very best security in the world,
and who sell their Governments to reinvest in these
bonds--thus securing greater interest alli. lssa
9TH AS the Union Pacific Railroad bonds are offer
ed for the present at 90 ON the dollar and ae
cred interest," they the cheapest security in the
Market being than 10 per cent. less than U. S.
Stocks.
10th. At the current rate of premium ON gold,
they pay go ~ if7a
OUeP Nine Per Cent. Interest.
The daily subscriptions are already large, and
they will continue to be received in New York by
the
CONTINENTAL NATIONAL BANK, NOT Nassau St.,
CLARK, DODGE g. Co., Bankers, No 81 Wall ST.,
JOHN j. CISCO & SON, Bankers, No SO Wall ST.,
andby BANKS and BANKERS generally through
out the United States of whom maps and descriptive
nh W ha TI,auxu ho SAINT
by mail from the Companys Office, No 20 Nassau st.,
New York, on application Subscribers will select
their own agents in whom they have confidence, who
alone will be responsible to them for the safe de-
livery of the bonds.
JOHN j. CISCO, Treasurer,
Fatf aiia 'a NEW YORK.
W. II. WOOD q SON, are agents for the sale of
the above bonds in this city, june3d Iw3m