Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1868-10-15
Railroads.
ONE OF THE BEST. INVEST.
TUE FIRST MORTGAGE BONDS OF THE
UNION PACIFIC RAILROAD co.
$50 MILES COMPLETED.

\ limited amount OF the First Mortgage Bond,
Of the Union Pacific Railroad Company are of.
teTed 20 the public, one OF the safest and most
profitable investments,
l. They are first mortgage upon the longa.t
al,l most important railroad in the county.
>, by law they can be issued 10 the Company
only as the road iseompleted, 50 that they always
TypWsent a real value.
8, THEN amount is limited by act OF Congress
to Fifty Million Dollars on the entire Pacific line,
OF an average o. less than 81, 900 per mile,
4, Hon. L, d. Morgan, OF the United States
Senate, and Hon. oakes Ames, OF the United
States House Of Representatives, are the trustees
Ton the bondholder, TO see that all their interests
are protected,
S, Five Government Directors, appointed by
the President of the United States, are response.
tie 90 the country for the management Of its al.
fair
g. Three United States Commissioner must
certify that the road' is wen built and equipped,
and IN all respects a trst-olass railway, beioEs
any bonds can be issued upon II.
I :, The United States Government lends this
Company its own bonds TO the same amount that
the company issues, for which II takes a second
mortgage ~ security.
I s. As additional aid, 1t makes an absolute do
nation Of l2,sOO acres of land 10 the mile, lying
upon each side of the road.
/ .. The bonds pay SIX per cent IN gold, aud tbs
principal Is also payable in gold
10, The earnings from the local or way business
we've over Four Million Dollars last year, which,
after paying operating expenses, was much more
than sufficient 70 pay the interest. These earn
iugs will be vastly increased on the completion
OF the entire line IN 1863.
n. No political action can reduce the rate OF
interest. II must remain Tor thirty years-slI
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. II bond, with
such guarantees were issued by the Government
its market price would not be less than from 20
to ai Der cent. premium. As these bonds are
issued under Government authority and super.
vision, upon what Is very largely Government
Work, they must ultimately approach Govern.
mynt prices, No other corporate bonds are made
So secure.
u. The issue will soon be exhausted The
sales have sometimes bccu halt million day,
and nearly twenty millions have already been
sold. About ten millions more may be offered,
Il Is not improbable that at some time not tar
distant, ali the remainder OF the bonds the Com
pauy can issue Will be taken by some combiua.
tIuu Of capitalists and withdrawn from the mar.
ket. EXCEPT AZ a large advance. The long time
tho high gold interest, aul the perfect security,
must make these bonds very valuable tor export
Al the predictions which the officers of this
Company htyC made in rotation to tho progress
and business success of their enterprise, ur 81.
: value and advance m the price OF their secuHta>
have been more than confirmed, and they Their.
Ton, suggest that VsTtle. who desire 20 invest 20