Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1868-11-11
n Y
FIRST MORTGAGE BONDS
0F rnE
N o N Pa CTFIC
RAILROAD eoNPANYl
800 MITES Compicted.

\ limited amount Of The First Mortgage Bond, Of tho
Union Pacific RAILROAD Company arc offered IN tho pub
c O. one Of The afost and most profitable investments
They arc first mortgage upon the longest and mos,
important railroad in the country.
g. by law they can be Issued to tho Company only :.
the road Il completed, that they always represent
real value.
. Their amount Is limited by act Of Congres, 10 INV
Million Dollars on the entire Pacific line, or an average
'fles than '2Dooo per mile
g. Hon. r. d. Morgan, Of the United STATE, seo.,o an,
Hon Oakes Ames Of the United States House Of Rsnra
'enages arc the trustees for the sondboder. 10 a..
that all their Interests protected.
g. Five Government Directors, appointed by me pr..
deni VI the United States, responsible to the country
Or thc management Of IL afaifs
Three United States Commissioner. must cer,,e ,b,,
Che road we'll built and equipped and in all respects
hrsteas railway, before any bonds can be Issued upon
/ IT, 1p'1
!. The United states Government lends the COMPANY
it own bonds to the same amount that tho eompanv
ssues for which Il takes a second mortgage as security
g A additional aid, i makes an absolute donation
1850 sores ofand to The nile lying upon each side
of the road.
o. The bonds pay six per cent. in gold and tho prnc
pal h also payable In gold.
TO- The earnings from the local or way business ware
over -Four Million Dollars last year which. AMER uaving
operating expenses much more than sufficient 10 nav
the interest These earnings will he vastly increased On
The completion Of the entire line in 1862
o. No political action can reduce tho rate Of interest,
10 must remain for thirty yearssr per cent per annnm
" g' no" equal TO between eight and nine per cent In
currency The principal u then payable IN gold Ifnbond
with such guarantees, issued by the Government
Us market price would not be les than from 20 to q per
cent premium. As these bonds are issued under Gov
eminent authority and supervision, upon what Ia very
largely Government work. they must ultimately an
preach Government prices. No other corporate bonds
are made secure.
r. The Issue viii soon he exhausted Tho sales have
sometimes been halfa million day, and nearly twenty
millions have already been sold About ten millions
more may be offered 1t Is not improbable that at some
time not far distant all the remainder Of the bonds the
Company can issue will takcn by some combination
ofeapitalists aud withdrawn from the market except at
large advance The long time, the high gold interest,
and tho perfect security must make these bonds very
valuable for export
Al the predictions which the officers Of this Compap
have made In relation to the progress and business su
cess of their enterprise the value and vance in the
price Of their securities have been more than confirmed
and ey therefore suggest that parties who desire to in.
Net n tier bonds inW md Il 70 their adrage 30 NJ
once.
The price for the present Is 02 and accrued interest a,
6 per cont, from July st, 1903 in currency.
Subscriptions will be received in MONTPELIER by
MONTPELIER NATIONAL BANK,
and ia New York
n he comPany's Office, No. % Nassau sr,a.
AND by
John j. Cisco & Son, BanAes, No. 50 Vol Street
And by the Company's advertised agents
throughout the United States.
Bod sent ree but parties subscribing through local agsnfs
rA tlok 10 nsni for ihep 'qfs dslirery.
NEW PAMPHLET AND MAP WAS ISSUED OCT
st containing report Of the progress of the work to
hst date, and more complete statement In relation to
the value Of tho bonds than be given in an dvertso
mont which will be sont free application at the Com
pnnys Offices or to any of the advertised agents.
JOHN j. CISCO, Treasurer, New York.
Nov. let, 1868. ~ daw