The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1867-11-12
MISCELLANEOUS

TIE
CENTR AL
Pacific Railroad
Vi 80 The The Western W teri half Of ffjt1hn the
GTe@t National Ta.x3,E Lime
Ac1Oss the Continent,
Being constructed with the AID and stPERyIs-
ION OF THE UNITED STATES GOVERNMENT,
IL nes'ined to he of the most important lines OF
communication III the world, as it is tho sole link
between the Pacific Coast and the Great Interior
bas'h' over Which the immense overland travel must
pass, and the ~
"e'Pa' portion of the Main Siera Line
,14 between the Two Oceans.
i'' me ex'ends from Sacramento, on the tidal
waters OF the Pacific, eastward across the richest and
mos. popu'ous parts off California Nevada add Utah,
10 All the great Mining Regions of tho Far
"est ana VIII meet and connect with The roads now
puiidme east of the Rocky Mountains. About 100
miles are now built equipped and in running opera
t'oh 10 the summit OF the Sierra Nevada Within a
lew So miles, now graded. will he added and
inc track carried entirely across the mountains TO
point in the Great SAX Lake Valley. whence tnrtber
progress VIII he easy aud rapid IRON. materials and
equipment are ready at hand for 800 miles of road
ana oooo men are employed in the construction
ihe ocai business upon tho completed portion sur
passes an previous estimate. The figures Tor the
quarter ending August 81 areas follows in GOLD:
"f"SS operating Net
Earnings, E,7eases, 81 Eay,,;aos.
S4s7 ,579 - Ss6,JasA s4Ol, O3I ~
OF al the ra'e OF two millions per annun, Of which
Ihan threeiourths profit on less than 100
LII" worked. This is upon the actual legiti
franc Oh the road, witlts terminus in the mountains,
ana with only the normal ratio of government trans
and Is exclusive of the materials carried tor
the further extension ortbe road 5 n
The Companys interest liabilities during the same
period were less than Sl250 900 ft
Add to this rex pandine through traffic and
the proportions ofthe future business become i'm
mense.
Inc Company are authorized to continue their line
eastward until 1t shall meet and connect with the
foads now building east OF the Rocky Mountain ran
eea. Assuming that they will bnill and control balr
the entire distance between San Francisco ana the
Missouri River, as now seems probable tbe limited
States viii have invested in the completion of {,
miles SOS, 593 200, or at the AVERAGE rate of
$SJ, 900 per mile mot including an absolute GRANT
of1O,OOO, 900 acres OF the Public Lands nv he
coming aJcint investor In the magnificent enterprise
ana by waving Its first lensin favor of First Mort
gage bondholders The General Government in effect
"'"es he cooperation OF private capitalists. and
has carefully guarded their interests against all or
binary contingencies. ssst
Inc Company offer for sale, through us, their
FIRST Mortgage Thirty Year, Six
per Gent. Coupon Bonds,
Principal and Intcrest payable in Gold
Coin, in New York city. They are in sums Of ST.
900 each, with semi-annual gold coupons attached
and are selling for the present at 81 per cent and
accrued interest from July st added in currency at
which rate they yield nearly
Nine per Gent. upom the Investment.
These Bonds, authorized by act Of Congress are is
sued only as the work progresses, and same a.
mount only as The Bonds granted by the Govern
ment; and represent, in all cases. the FIRST lie upon
completed, equipped, and productive railroad. in
wmch nave been invested Government subsidies
STOCK donations. surplus earnings
ana which is worth more than three times the amount
OF rlrst mortgage Bonds which be issued upon it,
The Central Pacific First Mortgage Bonds have ALI
the assurances sanctions and guarantees of The pa
zinc ha'ifoad ACT OF Congress, AMI have IN addition
seVeral noticeable advantages over all other classes
OF railroad bonds. s - : =
fIfsT-Fhey are the superior claim upon altogether
the most vital and valuable portion of the through
SECOND Beside the fullest 'beneGt of rho covarr-
ment subsidy, twhchis Subordinate lienl tb.
ROAD receives the benefit OF large donations
from California.
THIRD-Fully half the WHOA cost o,a,.a,,;,, con
miles eastward OF San Francisco il concentrated
8 upon the leo miles now about completed. So.
'oohhh.A local business already yielding three