Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1867-10-24
A CROSS TIE SIERRA NEvApAs
TaE CENTRAL PACIFIC RAIpRoAp


- The Western ban Of the Grss, Nalonu
s,rncted with the aid aud supeTyision ~ tSa
United States Government. l. destined IN ~
ons Of the most important lines Of eommupf.
cation u ne soFie a. Il y The role Ink Re,
Basin, over which the immense Overland traye,
must pass, and the principal portion OF the
main stem line between the two Oceans
Its line extend. from Sacramento. o. the
tidal waters Of the PAeiae, eastward across the
richest and most populous parts Of California.
Nevada aud Utah. e0htguoas TO al the yres,
Mining Regions Of the Par West and will mSet
and connect with tue roads now bulldlug ea.t
OF the Rocky MOuntsins. About 100 miles are
now built equipped and In running operation
20 the summit Of the Sierra Nevada HitAina
few day. IS miles, now graded win Ne added
and the track carried ent rely across the moan.
taius 10 point In the Great Salt Lake Valley.
whence further progress will be easy and rapid
Iron, materials and equipment are ready d,
hand for 30 miles Of rad, and iQUV, mrl aye
employed IN the construction
The local business upon the completed Dor.
ton sutpass,s all previous estimate The
dgures for the quarter ending August 81 are a.
follows in Gold gross earnings, Sis751g d:
operating expenses, SASS a.; net earnings
S40l, O3i u, or a. the rate Of two millions Der
auIum, Of which more than three iUurths aye
net pro1l on less than 100 miles worked. THIS
lie upOn the actual legitimate tratfic Of the road
With iis terminus In the mountains, and with
only the normal ratio OF government transport
alton, and Is exclusive Of the materials carried
for the farther extension Of the road,
The Compauy's interest liabilities during the
same period were lees than Sl25, 900.
Add 10 this an ever expanding through trafic
and the proportions OF the future Business be-
come immense.
The Company are authorized 10 continue
their line eastward until Il shall meet and con.
meet with the roads now building east of the
| Rocky Mountain ranges, Assuming that they
| viii build and control half the entire distance
between san Francisco and the Missouri River
az now seems probable, the United States will
| have Invested IN the completion Of sS5 miles
S2s 592 OOO OF at the average rate OF SIS 90 Der
| mile-nOl including an absolute graLt OF TO-,
| O00,O COO acres Of the Pubic laHd- By becoming
| joint Investor IN the magnificent enterprise
and by waving ~ first lien in favor Of the Fiyst
| Mortgage BOndhnlderr, the General Govern .
! ment, IN effect, invites the cooperation Of pri-
| vate capitalists, and has carefully guarded the.g
! interests against al Ordinary contingencies.
| The Company offer for sale through o.. tae.-
| First Mortgage Thirty. Year Six per cent Cou.
| pom BOndr, prime pal and interest payable in
| Gold coin in New York city. They are In sums
! Of 81 go each, with semi anaual gold coupons
attached, and are eel ing for the present at IS
| per cent and accrued Interest from July lst
| added, in currency, a. which rate they vie.
nearly MAE per cent. upon the investment.
| These Bonds, authorized by act OF Congress,
are issued only as the work progresses, ard TO
"
| the Government; and represent IN all cases the
first lieR upon completed, equipped and pro
| ductye railroad, In which have been invested
| Government subsidies. Stock prescriptions
donations, surplus earnings, ETC., and which IL
worth more than three times the amount Of
First Mortgage Bonds which can be issueC
upon it.
The Central Pacific First Mortgage Bond:
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.
| lst.-They are the superior claim upon alto
gether the most vital and valuable portion o.
the through line.
2d-Beside the fullest benefit of the Govern
ment subsidy, (which IS subordinate hen) the
road receives the benefit of large donations
! from California.
3d.-Fuly half the whole cost of grading s5t
miles eastward of San Francisco Is oonCen
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 0
its Bonds being payable W coin, upon legal,
binding agreement.
Having carefully investigated the resource
and prospects OF the Road, and the manage
ment Of the Company's affairs, we cordially re
! commend there Bonds TO Trustees. Executors
/ Institutions and Others as sn eminenty sound
reliable and remuneratiye form Of permanen
| investment.
Conversions of Government Securities int
Central Pacific First Mortgage Bonds now re
alize for the holders from Twelve to Eighteel
per cent. advantage, with the same rate Of In
terest.
The following are the current rates (Septem
Der 9th,) subject, Of course, to slight variation
from day to day. We receive in exchange;
| us Skies. 1851, coupon and nav differ.