Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1867-11-07
A CROSS THE SIERRA NEVADAS
THE CENTRAL PACIFIC RAIDRoAD.

The Western half of the Great National
Trunk Line across the Continent, being con.
structed with the aid and supervision of the
United States Government, il destined to be
one of the most important lines Of commune
cation in the world as ii is the sole link he
tween the Pacific Coast and the Great Interior
Basin, 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 and Utah, contiguous TO all the great
Mining Regions of the Far West, and will meet
and connect with the roads now building east
of the Rocky Mountains. About 100 miles are
now built, equipped and in running operation
to the summit Of the Sierra Nevada, Within
few days IS miles, now graded, will be added,
and the track carried entirely across the noun
tains to point in the Great Salt Lake Valley,
whence further progress will 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 por-
tion surpasses all previous estimate. The
figures for the quarter ending August 81 are as
follows in Gold: gross earnings, $4S7,579 Ga;
operating expenses, $S6,5iS al; net earnings,
$40l, O31 II, or at the rate Of two millions per
annum, of which more than threefourths are
net profit on less than 100 miles worked. This
is upon the actual, legitimate traffic of the road
with its terminus in the mountains, and with
only the normal ratio of government transport
alton, aud is exclusive of the materials carried
| for the further extension of the road.
| The Company's interest liabilities during the
same period were LEES than Sl25,00O.
Ad t e d9iS re SHsr 81 e
| come immense.
| The Company are authorized to continue
| their line eastward until it shall meet and con-
| meet with the roads now building east of the
| Rocky Mountain ranges. Assuming that they
| will build and control half the entire distance
between San Francisco and the Missouri River,
as now seems probable, the United States will
| have Invested in the completion OF S65 miles
S2S 592 600, at the average rate OF S35 900 per
| mile-not including an absolute grant of 10,-
| 100000 acres of the Pubic lands. BY becoming
| Joint investor in the magnificent enterprise,
and bv waving ts first lien in favor of the First
| Mortgage Bondholderr, the General Govern
ment in effect, invites the cooperation of pri-
vate capitalists and has carefully guarded their
| interests against all ordinary contingencies.
The Company offer for sale, through US, their
| First Mortgage Thirty-Year Six per cent. Cou-
| DOB Bonds, principal and interest payable In
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 IS
per cent. and accrued interest from July 1st
| added in currency, at which rate they yield
nearly nine per cent. upon the investment.
These Bonds, authorized by act of Congress,
| are issued only as the work progresses and to
the same amount only as the Bonds granted by
the Government; and represent in all cases the
first lien upon completed, equipped and pro,
ductive railroad, in which have been invested
| Government subsidies, Stock subscriptions,
donations, surplus earnings, ETC., and which is
worth more than three times the amount OF
First Mortgage Bonds which can be issued
upon 1t.
have all the assurances, sanctions and guaran-
ties of the Pacific Railroad Act of Congress, and
have in addition several noticeable advantages
over all other classes Of railroad bonds.
1st.-They are the superior claim upon alto.
gether the most vital and valuable portion OF
the through line.
2d.-Beside the fullest benefit of the Govern.
ment subsidy, (Which is a subordinate lien,) the
road receives the benefit of large donations
from California.
3d.-Fully half the whole cost Of grading 500
miles eastward of San Francisco is concen'
trated upon the $50 miles now about completed
4th.-A local business already yielding three
fold the annual interest liabilities, with adyan'
tageous rates payable in coin.
5th-The principal as well as the interest oil
its Bonds being payable IN coin, upon legally
binding agreement.
! and prospects of the Road, and the manage
ment of the Company's affairs, we cordially re
commend these Bonds to Trustees, Executors
Institutions and Others as an eminently sound
reliable and remunerative form OF permanent
Conversions OF Government Securities into
| Central Pacific First Mortgage Bonds now re
! aliZe for the holders from Twelve 10 ElghteeL
per cent. advantage, with the same rate Of In
teTest.
The following are the current rates (Septem-
Der 9th) subject, of course, to slight variations
from day to day. We receive in exchange:
US Skies, 1851, coupon, and pay differ
fence, 1884!
us. Fiye-TweHties, 1862 coupons, :. 1904!
us 1864 . 1855!
rs 1865 1854!
US. " 1856. new, 1905
US. 1" 1861 ,(new), 1903
us. Ten. Forties coupons, nav difference, 80 4!
! ~ Seven Tbirtias f1d aerteal 1881!