The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-09-07
= Il Il
UNION PACIFIC
Railroad CO.
THEIR FIRST MORTGAGE BONDS
As an Investment.

The rapid progress of the Union Pacific Rail-
.0"u, no" building west of Omaha, Nebraska, and
ofmihs' with its western connections, an unbrok-
en- hhe across the continent attracts attention to
the value OF the First Mortgage Bonds which the
Company now offer to the public The first oues-
ton asked by prudent investors is, "Are these
bonds secure?' Next, care they profitable in
vestment?" To reply in brief:
LIST. The early completion of the whole great
line to the Pacific is certain as any future bus
mess event be. The Government grant of
over twenty million acres of land and fifty 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
q 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 onl- line connecting
the Atlantic and Pacific; and being without COM
petition, it can maintain remunerative rates.
3D. 425 miles of this road are finished and
fully equipped with depots, locomotives cars &C.,
and two trains are daily running each way. The
materiais for the remaining 90 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 bs
issued only as the road progresses, and therefore
can never be in the market unless they represent
bona tide property.
9Th. Their amount is strictly limited by law to
a sum equal to what is granted by the q. S. Gov
srnment, aud for which it takes second lien as
its security. This amount upon the first SI7
miles west from Omaha is only $4,000 per mile.
eth. 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
G. 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
parties who consider first mortgage upon
sucu d property rs tnls tue very Dcst security IN
the world, and who sell their Governments to re-
invest in these bonds-thus securing a greater in
terest.
9Th. As the Union Pacific Railroad bonds are
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 Q. 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
Street,
CLARK, DODGE Co., BANKERS, 81 Wall St,
JOHN ). Cisco 4 Son, BANKERS, 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. 90 Nassau Street, New York, on appli-
cation. Subscribers viii select their own agents
in whom they have confidence, who alone will be
responsible to them for the safe delivery of the
bonds.
JOHN =. CISCO,
TREASURER
NEW YORK.