The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-10-16
$50 Miles Completed.

limited amount of the First Mortgaxe Bonds Of the
Union Pacific Railroad Company are offered 70 tho
Iublio as one OF the safest and most profitable ip-
vestments.
L. Tley are a nrHt mortgage upon the Longest and
most important railroad In the country.
q BY law they can be issued to the Company only
as the road Is completed that they always repre-.
sent real value Fl
= 8. Their amount is limited by act Of Congress 10
Fifty Million Dollars the entire Pacific line, or an
average Of less than $4,000 per mile.
T. Hon. X. d. Morgan, OF the United States Senate
ana Hon. OAkes Ames, OF the Unted states House o.
Representatives are the trustees for the bondhode
TO see that all their interests are protected.
Five Government Directors, appointed by the
President ofthe United Satest responsible 10 the
country for the management OF It's affairs
8, 1hree United states Commissioners must certify
that The road is well built and equipped. and In ali
respects rstclass railw before bonds can be
Issued upon It.
T. The United States Government lends the Com
pany its own bonds to the same amount that the
Company issues, for which 1t takes second mortgage
as security.
s. AS additional aid. it axes absolute donation
OF OF land to the mie lying upon each side
of the road,
Q, The Bonds pay SIX PER GENT. IN GOLD, and
the principal is also payable in gold, -
TO- The earnings from the local or way bnsinA.,
were ever foris MILLION DOLLARS last year.
Wp'cn after paying operating expenses waa muet
more than sufficient TO pay the interest. These
earnings will be vastly Increased on the compilation
OF the entire line in 1869.
II. No political action reduce the rate OF nte-
rest 1t must remain for thirty years. per ces pe.
dnaUn IL, gold, now equal to between eight and nine
per cent In currency. The principal then pauabte
IN Gold If bono, with such guarantees were issued
by the Government, It's market price would not be
less than from twenty TO twenty-five per cent pre-
MUM. AS these bonds are issued under Government
authority and supervision upon what is very largely
q Cover nment work. they must ultimately approach
Government prices No other corporate bonds are
made secure. IaJlI.Ls
IL. The issue will soon be exhausted. The sAles
have sometimes been half million day, and nearly
twenty millions have already been sold About ten
millions may be offered. II is not improbable
that time not far distant, all the remainder
the bonds the Company issue will be taken by
some ombnation OF capitalists and Withdrawn from
the market, except at q large advance. The long
time high gold interest," ana the perfect security
must make these bonds ueIy valuable for export.
All predictions which the officers OF the Conn.,
pany have made in relation TO the and busl-
ness of their enterprise, the value and
In the price of their securities, have been
confirmed, and they therefore suggest that par.
ii es who desire TO in In their bonds uH dnd "a
their al, dntd0e TO do so at once. .r.- str .3....
The price for the present is I02 and accrued Interest
~ six per cent. In currency, from July 1.
Subscriptions will be received inPhiladelphia By