The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1867-08-27
INSTANTANEOUS.
T H e
CENTRAL
Pacific Railroad
The Western half of the
Great National TTaGnE Line
Across the Continent,

Being constructed with the AID and SUPERVIS-
ION OF THE UNITED STATES GOV ERNNENT,
Is destined to be of the In portant and val
liable Railroads in the world it is the sole link of
communication between the Pacific Coast and the
Great Interior Basin, and the
Principal portion of the Main Stem Line
between the Two Oceans.
The present western terminus is at Sacramento, On
the navigable waters Of the Pacific; but it will uti
matey extend from San Francisco across the richest
and most populous parts OF California, Nevada, and
Utah, contiguous to all the great Mining Regions of
the Far West. The companyare author zed to con-
tnue their line eastward until it shall meet and
meet with the Is building east of the Rocky
Mountain ranges.
Assuming that they will build and control half the
entire distance between San Francisco and the Mis-
souri, River a. now seems probable, the United States
will have invested in the completion of SOS miles
$2S, ,J92 900, or at the average rate of s3J 900
per mile-not including an absolute grant of 10,
900 900, acres of the Public Lands By becoming
ajont investor in the magnificent enterprise, and by
waving its first lien in avor of the First Mortgage
Bondholders, THE GENERAL GOVERNMENT, IN Eff
FEoT, INVITES THE COOPERATION OF PEIvATE
CAPITALISTS, and has carefully guarded their inter
ests against all ordinary contingencies.
The Central Pacific Railroad enjoys al the privi-
leges grants and subsidies conferred by the Acts of
Congress upon the other paris ofthc through line and
has, i'll addition, several special, exclu i've nd
vantascs applicable only to the Western HALF
1. The Company has received from the State and
chief cities of California, assistance in money,
credit and valuable property worth over $4,000
900 in gold, in addition the full benefit OF the
Government subsidy.
H. The hardest and costiest part of its construction
has been successfully overcome within the first
100 miles In few weeks the track will be COM
plete entirely across the Sierra Nevadas after
which progress to Sail Lake will be easy and
rapid.
III. The local business alone of this road establishes
its complete financial success, independently OF
the vast through traffic which must pass over it.
The gross earnings for the months OF June and
July, upon the "a miles then open for business,
were upward of $297, 900 In gold, of which four
ffths were net earnings.
~. 1t can have no competition, but will carry be-
side its own lucrative local traffic, the sUhote U0I
unae Of Through business which is shared among
its Eastern connections and their branches.
v. The road lies wholly in territory yielding the
precious metals, anu its revenues are collect
ed In COIN. Its rates ior transportation are very
advantageous Being more than Il rec times those
OF roads lying east of and the ratio of operat-
ing expenses is less than 25 per cent. OF the gross
earnings.
vi In consequence OF the aid it receives from the
General Government, from the State of Califor-
mia and from municipal corporations, the annu-
al interest obligations which the Company are
called upon TO assume are very light. The net
earnings upon an average of about rs miles, in
ls66, were nearly three times the amount OF an
nudL interest liabilities to be assumed in building
It, and arere S235, 900 more than the annual inter-
est on the entire anouat Of First Mortgage Bonds
which the Company can issue upon the first 100
miles. 4