The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1867-05-18

JVutk 0UU.
Great Raiiresa to the Far West.
tffcshths Indspendsnt April Al
= Of us have sufficiently considered the
upon the country Of the completion Of
abroad to the Pacific. We may inns
the streams Of commerce flowing back
orth ACROSS our continent, erchanaiue
|roducts of China and the East Indies
veetern Europe, which nov have to fnd
way around the southern capes by a
four times the distance. The Opening
railroad line between the Atlantic and
hsnihc oceans will give as the shorte st
round the world, and which has the ad-
age of lying within the same temperate
Ne have the shortest road and the
road to the east. OF the l,T50 miles
een the Missouri river and the western
:, which, up to the beginning of the war,
traversed only by the stage~coach and
e,team, 400 hal been spanned BY the
road on the LIST OF January last, the
tier portion of it during the past rear.
be road, as most readers know, is being
from both ends by two distinct comps-
;, each striving TO build as fast and as far
can; the government granting its credit
TO both, according to the progress and
iculties of the road. The national subsidy,
CHI is practically donation. in return for
military and commercial advantages the
is TO confer on the nation at large, is
koned to be about half the cost Of building
entire line; the other half, together with
cost Of equipment, will be abundantIy
'vlded for by private capital, which will
* such an investment
he Caifornians, on their end of the line.
re shown great sagacity and determination.
ready they have reached, in the first one
ndred miles, the top of the formidable
,untain range, and in July next will be
ar the great Nevada silver mining regions,
Ee local traffic already existing upon this
completed fragment is astonishingly lucra-
During the three autumn months Of 1866.
len the freight could be forwarded across
mountains, the earnings we're at the rate
4 Sl,4OO, 600 a year in gold and it is rea-
nable to assume that when the whole noun.
IN district is crossed tl56 milesl the gross
krnings will be over $4,000, 900 a year, Of
nieh, according to past experience, f,ro
firds 'ciH De net earnings, applicable to the
fyment OF interest upon the bonded debt
pa Tor further construction. The former,
y reason OF the munihcent government and
ate aid, is extremely light in proportion to
s resources. The interest dues incurred by
he company in building and equipping the
90 nj es to the California State line will be
ut S645, 100 or about y per cent. upon its
ost, and on the remaining six hundred miles
cross the plains the ratio will not be larger.
The following statistics from the New 70 4
World will give some idea of the progress
nd prospects OF the road: The California
projectors have, in addition to all.the white
aborers they can get, laid hold of all the SUI
Chiaese they could reach, about
QUO IN all, and, having passed the bulk OF
herr difficulties, are making extensive prepa-
atoms for sweeping advance across the in
error plains. The following table will show
be rate Of progress and the elevation above
he sea level:
Niles Feet
an. !, 1863, to New Castle,..............3i $50
fay 10, 1865, to Auburn..................36
une 10, 1862 TO Clipper Gap..........42 800
ept !, 1863, 10 Coliax. 244s
Nay 8, 1866, to Secret Town............G6 3,4l5
uly TO- 1868, to Alta......................73 $500
sov. 2e, 1856, TO ...............y4 59ll
All this, together with very liberal equip.
nent, has cost goodly sum Of money SI4..
90, 500 up to January !, 1867 j but such are
he prospects of remunerative traffic upon the
of TIM next fifty miles that its
riends are justified in using every man and
very dollar they can get. The Indebtedness
t the company and its annual charges are
orrespondingly light, as its business profits
re heavy. The following is statement Of
esources and annual debt charges:
Interest
Resources. Liabilities
Donation city Of San Fran
cisco Soyear per cent.
gold bearing bonds......S 400 600 ...
nited States Government
bonds ACKNOWLEDGEMENTS. 1.336.Q00
'irst mortgage bonds. $4,000 $440.ls
Convertible bonds soc goo los ooe
tate aid bonds So0. 600
subscription to capital stock
mostly in gold ............ 100000 ........
Total. 2l,0T2, 600 ss45.l6C
To the resources should be added the ne,
srnings after the payment of interest liabii.
les, which would be, by moderate estimate,
IS follows:
Sci earnings ia gold, 1865, average
~ miles 2S0,2T2 ST
get earnings iUsgold, 1885, average
- mills. ............. $50 SS3 ee
Net earnings in gold, 1857, average
l90 miles........ asa, SAC 0o
$50, 9s5 5f
less inter't paid on bond
ed debt, 1865.
less inter't paid on bond
ed debt, lS66.............. 175,3So.0o
Less inter't paid on bond
ed debt, ls67A......... 545, loo 90 err, 85l i
To be applied to construction re-
sources ,6Is, 344 4:
By reference to the advertisement of the
Central Pacific Company in another column
! II be seen that their financial agents offel
Tor sale the first mortgage bonds of the road
Of even date and tenor with the Government
bonds, drawing six per cent, principal ars
interest payable in gold, which, according t.
the above showing, makes them one Of th,
best and safest investments now offered /,
ca itsl.