The Jeffersonian. [volume] (Stroudsburg, Pa.) 1853-1911, 1867-08-15
THE
UNION PACIFIC
RAIL ROAD co.
THEIR FIRST MORTGAGE BONDS
As an Investment.

HE rapid progress OF the Union Pacific
railroad, now building west from Omaha
Nebraska, and forming, with its western
connections, an unbroken line across the
continent, attracts attention TO the value o:
the First Mortgage Bonds which The Com.
pany now offer 10 the public. The first
question asked by prudent investors is, }" Are
these bonds secure!" Next, "Are they a
profitable investment!" To reply in brief:
lst. The early completion of the whole
great line TO the Pacific is as certg in as any
future business event can be. The Govern
ment grant of over twenty million acres OF
land and fifty million dollars in its own bonds
practically guarantees it. One-fourth ofthe
work is already done, and the tract contin-
ues 10 be laid at the rate of two miles day
2nd. The Union Pacific Railroad bonds
are issued upon what promises 10 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 Pa
cific: and being without competition, it can
maintain remunerative rates
81. 425 miles of this road are finished,
and fully equipped with depois, locomotives,
cars, &c, and two trains are daily running
each way. The materials for the remaining
90 miles 10 the eastern base OF the Rocky
Mountains are on hand, and it is under con-
tract TO be done in September.
18th. The net earnings of the sections al
ready finished are sereral times greater
than the gold interest upon the First Mort
gage Bonds upon such sections, and if not
another mile of the read were built, the part
already completed would not only pay inte-
rest and expenses, but be profitable to the
Company.
9Th. The Union Pacific Railroad bonds
can be issued only as the road progresses,
and therefore can never be in the market un-
less 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. Government, and for which it
takes a second lien as its security. This
amount upon the first 517 miles west from
Omaha is only $4,000 per mile
9Th. The fact that the u S. Government
considers second lien upon the road good
investment, and that some of the shrewdest
railroad builders of the country have already
paid in five million dollars upon the stock
(Which is 10 them a third lIcn), may well
inspire confidence in first lien.
Sth. Although it is not claimed that there
can be any better securities than Govern
ments, there are parties who consider fist
mortgage upap such property as this the
very best security in the world, and who sell
their Governments to re-invest in these
bonds thus securing a greater interest.
9th. As the Union Pacific Railaoa bonds
are offered for the present at 80 cents on the
dollar and accrued interest, they are the
cheapest security in the market, being more
tnan ID 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 are already large,
and they will continue to be received in New
York by the
Continental National Bank, No. Z Nassau
Clark, Dodge d. Co., Bankers, No. 81 Wall
St,
John j. Cisco 3- Son, Bankers, No. 33 Wall
st,
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 Com
pany's Office, No. 20 Nassau Street, New
York, on application. Subscribers will Sc
lect their own Agents in whom they have
confidence, vino alone will be responsible to
them for the safe delivery of the bonds.
JOHN J. CISCO, Treasurer,
NEW YORK.
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