The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1867-09-05

Being constructed with the AID and sUPERvIs-
is destined to be OF the most in portant and val
liable Railroads in the world as 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 naveable waters of the Pacific but it will ulti-
mately 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 company are author zed to con-
tinue 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 Mis-
souri, River, as now probable the United States
will have invested in the completion of S65 miles
$2S, ,592 900, 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
ajoint investor in the magnificent enterprise and by
waving its first lien in favor of the First Mortgage
Bondholders, THE GENERAL GOVERNMENT, IN Eff
Feet, INVITES THE COOPERATION OF PBIvATE
CAPITALISTS, and has carefully guarded their inter-
ests against all ordinary contingencies.
The Central racine kallroad enjoys al the privi-
eges grants and subsidies conferred by the Acts of
Congress upon the other parts ofthe through line and
has, in addition several special, eA clu i've nd
vantngcs 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 :
600 in god in addition to the full benefit OF the
Government subsidy.
II. The hardest and cosest part of its construction
has been successfully overcome within the first
15O miles. In n few weeks the Il ack will be COM
pletei entirely across the Sierra Ncvadas, after
which progress to Sail Lake will be easy and
rapid.
I'LL The local business alone of this road establishes
its complete financial success, independently Of
the vast through traffic which must pass over it.
yhe gross earnings for the months OF June and
July, upon the 81 miles then open for business
were upward OF S297 600 in gold of which four
ftths were net earnings.
". 1t can have no competition but will carry be-
side its own lucrative local trafc, the aohoIe goL
anae Of through business which is 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 ior transportation are very
advantageous, being more than three times those
ofroads lying east of it; and the ratio of onerat
ing expenses is less than % per cent OF the gross
earnings. 50
vi. In consequence OF the aid it receives from the
General Government. from the State of Califor-
ma 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 70 miles, in
le66, were nearly three times the amount OF
7tdt interest liabilities to be assumed in baidaG
it, and ooere $685. 900 more than the annual inter
eston NE entire amount Of First Mortgage Bonds
schtch hc Company can issue upon the first 150
miles. flI Iff SCI 81 IL