Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1867-10-03
THE eTr-rag
Union PACIFIC
RAILROAD co,
THE
THEIR FIRST MORTGAGE BONDS
AS an Investn .nt

The rapid progress of the Union Pacific hailroad
now buildinE west from Omaha, Nebraska, and
forming with its western connec iuns an unbroken
line the continent, attracts attention to the
value of the First Mortgage Bonds which the Cou-
'pany now offer to the pablo. The first question
asked by prudent investors is. "Are these bonds
secure 2" Next, Are they q profitable invests
mentT To reply in brief: q .- -
1st. The early completion Of the whole great line
to the Pacific is certain as any future business
| event can be. The Government grant of overtwef-
ty million 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 contin
ues to be laid at the rate of two miles day. 1gtf
Cd. The Union Pacific Railroad bonds are issued
| upon what promises to be oHe of the most profta-
! Bile lines of railroad in the country. For many
years it must be the only line connecting the At
lantic and Pacific; and being without competition
it can maintain remup erative rates. -e.a
81. 425 miles of this road are finished, and fully
equipped with 6epots. locomotives. cars. &c.. and
two trains are daily running each way. The nate
rials for the remaining % miles to the eastern base
Of the Rocky Mountains are on and, and it is un-
der contract to be done in September.
4th. The net earnings of the sections already fin
ished seUeras times greater than the gold inter-
est upon the First Mortgage Bonds upon such sec
tions, and if not smother mile>ef tie road were
built. the part already completed would not only
pay interes and expenses, but be profitable to the
Company.
5th. The Union Pacific Railroad bonds can be is
sued only the road progresses and therefore can
never be in the market unless they represent bona
fde property
9Th. Their amount is strictly II nited by law to q
sum equal to what is granted by the U. 8. Govern
ment, and for which it takes second lien as its se-
curity. This amount upon the first 517 miles west
from Omaha is only $ie, 600 per ermile.-a-
7th. The fact that the u s. Government consid-
ers second lien upon the road good investment,
and that some of the shrewdest railroad buildersof
the country have already paid in five million dol
lars upon the stock (Which is to them third lien)
NAV well inspire confidence in first lien.
9Th. Although it is not claimed that there can be
any better securities than Governments, there are
parties who consider first NOR gage upon such a
property as this the best security in the world
and who sell their Governments tolre-invest in
these bonds-thus securing gr ater interest. ~
9th. As the Union Pacific Railroad bonds are of
ered for the present at 80 cents on the dollar and
accrued interest, they the cheapest security in
the markell, being more than Is per cent. less than
U. s. Stocks. -a-tg- ~rr-e
10th. At the current rate of premium ON gold
they pay
Over Mine per Cent. Interesf. Z
The daily subscriptions are already large. and
t. ey will continue to be received in New York by
the ...,.s
Continental National Bank, No 7Nassau S.,
Clark. Dodge q Co. Bankers. 81 Wall st.. '3a
John j. Cisco & Son, Bankers, No. o3 Wall ST.,
AND BY
RICKLY & BRO, Columbus, Ohio,
And by BANKS and BANKERS generally through.
out the United States, of whom Maps and Descrip.
tive Pamphlets may be obtained. They will also be
sent by mail from the Company's Office. No 90 Mas
sad street. New York. on application. Subscribers
will select there own Agents in whom they have con-
6dence. who alone will be responsible to them for
the safe delivery of the bonds. sF