The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-09-23
-T Il u =
UNION PACIFIC
RailroadCo.
THEIR FIRST MORTGAGE BOMBS
As an Investment.

The rapid progress of the Union Pacific Rail-
road, now building west of Omaha, Nebraska, and
forming, with its western connections, an unbr0k-
en- line across the continent attracts attention TO
the value OF the First Mortgage Bonds which the
Company now offer to the public. The first ques-
ton asked by prudent investors is "Are these
bonds secure" Next, "Are they profitable in
vestment?" To reply in brief:
LIST. The early completion of the whole great
line to the Pacific is certain annd uPre bus
mess event can be-. The Cove ant of
over twenty million acres of lai2- 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 miles
a day.
I'd. The Union Pacific Railroad bonds 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
3D. 425 mile. of this road are finished, and
fully equipped with depots, locomotives, cars, &C.,
| and two trains are daily running each way. The
materials for the remaining W 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 can be
issued only the road progresses, and therefore
can never be in the market unless they represent
q bona Jiae 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 of the shrewdest railroad
builders of the country have already paid in FIVE
million dollars upon the stock (which is to them
third lien) 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 a property as this the very best security in
| the world, and who sell their Government. 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 dollar
and accrued interest, they the cheapest securi-
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. Interest.
The daily subscriptions sre already large, and
they will continue to be received in New York by
the
; CONTINENTAL NATIONAL BANK, No. Nassau
Street,
CLARE, DoDGK Co., BANKERS, 81 Wall ST.
JOHN J. Cisco SoN, Banners, No. 80 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. 20 Nassau Street, New York, on appli-
cation. Subscribers will select their own agent,
in whom they have confidence, who alone will be
responsible to them for the safe delivery of tn.
bonds.
JOHN J. CISCO,
TREASURER.
NEW YORK.