The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1868-11-03
ONE OF THE BEST INVESTMENTS.
THE
FIRST MORTGAGE
BONDS
OF the
UNION PACIFIC RAILROAD COMPANY.
$50 MILES COMPLETEDi


A limited amount of the First Mortgage Bonds
OF the Union Pacific Railroad Company are offer
cd to the public, as one Of the safest and most
profitable investments.
i. They are a first mortgage upon the longest
aud most important railroad in the country
3 BY law they can be issued to the Company
! only as the road is completed so that they always
I represent real value.
3. Their amount is limited by act of Congress
to FIFTY Million Dollars on the entire Pacific line,
or an average Of less than $50, 600 per mile
A. Hon. L. d. Morgan, Of the Emitted States
Senate, and Hon. Cakes Ames. OF the United
States House of Representatives Al 9 the trustees
for the bondholders to sec that all their interests
are protected.
8. Five Governm mt Directors, appointed by
the President of the United States, are respon-
sible to the country for the management OF its
affairs.
6. Three United States Commissioners must
certify that the road is well built and equipped,
| and in all respects first-class railway, before
| any bonds can he issued upon it.
| .. The United States Government lends the
Company its own bonds to the same amount
that the company issues, for which it takes a Sc
cond mortgage security.
| y. As additional aid, it makes an absolute do
nation OF II, 800 acres Of land to the mile living
upon each side OF the road.
| y. lhe Bonds paw six per cent. in gold, and the
! principal is also payable in gold
| 10. The earnings ftom the local or wsy bust
| hcSS were oNer rOur MllllOn dollars last year.
which, after paying operating expenses, was
much more than sufficient to pay the interest.
| These earnings will be vastly increased on the
completion OF the entire line in 1868.
IL. No political action can reduce the rate OF
interest 1t must remain for thirty years-six
per cent per annum in gold, now equal to be-
tween eight and nine per cent in currency. The
| principal is then payable in gold. If bond,
| with such guarantees, were issued by the Govern
ment, its market price would not be less than
! from 70 to 20 per cent premium. As these
| bonds are issued under Government authority
and supervision, upon what is very largely a
Government work, they must ultimately approach
Government prices. No other corporate bonds
| are made so secure.
| II. The issue will soon be exhausted. The
sales have sometimes been alf million day,
and nearly twenty millions have already been
| soil. About ten millions more may he offered.
| II is not improbable that at some time not far
distant, all the remainder of the Bonds the Com
pany can issue will he taken by some combna-
tion OF capt. lists and withdrawn from the mar
ket, except at a large advance. The long time
the high gold interest, and the perfect security
must make these bonds very valuable for export.
All the predictions which the officers of this
Company have made in relation to the progress
and business success Of their enterprise, or the
value and advance in the price OF their securities
have been more than confirmed, and they there
fore suggest that pat ties who desire to invest in
their bonds will find it to their advantage to do
| so at once.
The price for the present is l02 and accrued in
| terest at the rate OF six per cent. in currency
from July lst, and sub criptions will lie received
by