The Portland daily press., 1867-09-03

aCTOSS tHS CO5tt11IS1lL,
Being constructed with the AID and SUPERVIS-
ION or THE UNITED STATES GOVERNMENT,
Is destined to be of the most in portant and val
uable 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
tho navigabe waters OF the Pacific; but it will ult-
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
tue Far West. The company arc author zed to con-
tnue their line eastward until It shall meet and con.
meet with the roads building east Of the Rocky
Mountain ranges.
Assuming that they will build and control half the
entire dstanse between San Francisco and the Mis-
souri, River now seems probable, the United States
will have invested in the completion of SOS miles
S2S, ,502 900, or at the average rate of S35 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 favor Of the First Mortgage
Bondholders, THE GENERAL GovERSMENT, IN Eff
Feet, INVITES THE COOPERATION OF PRIVATE
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 parts through ne and
has. in addition, several special, exclu' i've ad-
vantases applicable only to the Western Half
I. The Company has received from the State and
chief cities Of California, assistance in money.
credit and valuable property worth over 50, GOO
900 in gold, in addition to the full benefit OF the
Government subsidy.
L. The hardest and costiest part of its construction
i hae been successfully overcome within the first
'160 miles. In few weeks the track will be c'm-
pleted entirely across the Sierra Nevadas, after
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.
July, upon the "a miles then open for business,
were upward of $297, 900 in gold, of which four
ffths were net earnings.
w. It can have no competition, but will carry be-
side Its own lucrative local traffic, the ich0Ie DOL
une or through business which ia shared among
Its Eastern connections and their branches
v. The road lies wholly in territory yielding the
precious metals, and its revenues are collect
ed In COIN. Its rates for transportation are very
advantageous, being more than three times those
OF ROADS lying east OF and the ratio Of operat
ing expenses is less than % per cent of the gross
earnings. .. o #--l
VI In consequence OF the aid It receives from the
General Government from tile State of Califor-
MIA and nom 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
1906, were nearly three times the amount of d,t-
1G interest liabilities to be assumed in building
a. and were $235. 900 than The annual inter
esson ne eatire amount Of First Mortgage Bonds
miles.