The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-08-14
UNION PACIFIC
Railroad Co.
THEIR FIRST MORTGAGE BONDS
As an Investment.


Inc rapid progress Of the Union Pacific Rail-
ioAu, no" building west of Omaha, Nebraska. and
ioi win ITS western connections, an unbrok-
On hne across the continent attracts attention to
the Vaiue Oh 'he First Mortgage Bonds which the
Company now ofer to the public. The first oues.
ton asked by prudent investors ia, sara ,h...
bonds secure r' Next "Are they pres,ahls in
vestment2" To reply in brief:
LIST. The early completion of the whole great
line to the Pacific is as certain 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
0ne-fourth of the work is already done, and the
track continues to be laid at the rate of two mile,
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,6c.
and two trains are daily running each way. The
materials for the remaining go 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 be
issued only the road progresses, and therefore
can 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 q. S. Gov
eminent, and for which it takes 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 the country have already paid in Eve
million dollars upon the stock (Which is to then
q third lien) may well inspire confidence in first
| lien. f
| sth. Although it is not claimed that there can
be any better securities than Governments, there
| are parties who consider a 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 the dollar
and accrued interest they the cheapest securi-
ty in the market, being more than Is per cent.
| less than q. S. Stocks.
10th. At the current rate of premium on gold,
they pay
| Over Nine Per Cent. Interest.
The daily Subscriptions ere already large, and
| they will continue to be received in New York by
the
CONTINENTAL NATIONAL BANK, No. Z Nassau
Street.
CLARE, DoDGE & Co., BANKERS, 81 Wall St.
JOHN ). CISCO i Son, BANKERS, No. SO 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
| Office, No. 20 Nassau Street, New York, on appli-
cation. Subscribers viii select their own agents
in whom they have confidence, who alone win b.
responsible to them for the safe delivery of the
bonds.
| JOHN =. CISCO,
| TREASURER,
NEW YORK.
II