The Portland daily press., 1867-11-07
MISCELLANEOUS.

Great National T3.at1ak Line
1cTOss the Continent,
Heng constructed with the AID and SUPERVIS-
ION OF THE UNITED STATES GOvERNMENT
destined TO be one Of the most i'm lines of
communication III the world, as 1t is the sole link
between the Pacific Coast and the Great Interior
Basn over which the immense overland travel must |
pass, and the
Principal portion Of the Main stem Line |
between the Two Oceans.
Its line extends from Sacramento, ON the tidal |
waters OF the Pacific eastward across the richest and
most populous parts of California Nevada add Utah.
contiguous to all the great Mining Regions of the Far
West, and viii meet and connect with The roads now
building east of the Rocky Mountains About 100
miles are now built, equipped and in running opera
ton to the summit OF the Sierra Nevada Within a
lew diysoo miles, now graded will be added and
the track carried entirely across the mountains a
point IN the Great Salt Lake Valley, whence further
progress VIII be easy and rapid Iron, materials and
equipment are ready at hand for 800 miles of road
and 10000 men are employed in the construction.
The local business upon the completed portion
passes all previous estimate The figures Tor the
quarter ending August 81 are as follows in GOLD:
Gross Operating Net
Earnings, Expenses Edrniags,
$fS7 $40 Ga $SG,54S ~ S4Oi,O3I
or at the rate of two millions per annum, of which
more than profit on less than 100
mil worked. This is upon The actual legitimate
traffic the road, with its terminus the mountains
and with only the normal ratio of government
portation, and exclusive of the materials carried for
| the further extension Of the road.
The Company's interest liabilities during the same
period were less than $125e0O. L. Taa
Add to this an eyer-expanding through traffic and
the proportions ofthe future business become In
| mense. 's'i
The Company are authorized to continue their line
eastward until it shall meet and connect with the
| roads now building east OF the Rocky Mountain ran
ges. Assuming that they will build and control hall
the entire distance between San Francisco and the
| Missouri River seems probable the United
STATES VIII have invested In the completion of
| miles S3S .50S,OOO, OF at the average rate of
5000 per mile-not including an absolute grant
OF lO,OOO,OOO acres OF the Public lands. BY be-
coming ajoint nves tor in the magnificent enterprise
and by waving Its first lien in favor of First Mort
gage Bondholders, the General Govey,,nae,t in effect
inrites the cooperation Of pirate capitalists and
has carefully guarded their interests against all or
| binary contingencies
| The Company offer for SALE througb ms their
First Mortgage Thirty Year, six
per Cent. Coupon Bonds,
Principal and Interest payable ia Gold
Coin, in New York city. They are in sums OF 81, :
900 each, with semi-annual gold coupons attached,
and are selling for the present at 95 per cent and
accrued interest from July LIST added in currency at
which rate they yield nearly
Nine per Gent. upon the Investment.
These Bonds, authorized by act of Congress- are is
sued only the work progresses and TO the same A.
mount Only az the Bonds granted by the Govern
ment; and represent, in all cases, the first lie upon
completed, equipped, and productive railroad, in
| which have been invested Government subsidies.
stock subscriptions, donations surplus earnings etc
and which isworth more than three times the amount
OF First Mortgage Bonds which can be issued upon it
The Central Pacific First Mortgage Bonds have all
the assurances, sanctions and guarantees OF the Pa
eifc Railroad Act OF Congress, aud have in addition
several noticeable advantages over all other classes
| of railroad bonds
| FrRsr-Tbey the superior claim upon altogether
the most vital and valuable portion ofthe through
SECOND Beside the fullest benefit of the Govern
ment ubsidy, (which is a subordinate lep. j tb.
road receives the benefit OF large donations
from California.
| THIRD-Fnlly half the whole cost nj grading 500
l. miles eastward OF San Francisco is concentrated
upon the 100 miles now about completed.
| old the annual interest liabilities with aCyan
tageous rates payable in coin.
FIFTH-The principal as well as the interest OF its
| Bonds being payable in coin, upon legally bind
| ing agreement.
Having carefully Investigated the resources, pro-
gress, ana prospects of the road, and the manage
ment OF the COmpany's affairs, we cordially recon-
mend these Bonds to Trustees Executors, Institn-
tions and others emineniiy souna and refidoie
| renaanerdtiee form OF permanent iayestnent
| conversions OF GOvefnmsent Securities
/ INTO