The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1867-10-23
MISCELLANEOUS.

All
Pacific Railroad
The Western half of the
Great .Nasiona, 1ru,.H Line
across the Continent,
Being constructed with the AID and supxRyIs,
IGN on THE UNITED STATES aovEaNMENT.
. aes'aeu 70 be one of the most In poFtant lines Of
communication IN the world. as It 10 the sole link
between the Pacific Coast and the Great Interior
Basin, over which The immense ova,ana ,r.r, 49,.
pass, and the yfr
Principal portion of the Main ss,en, III.
between the Two Oceans.
Its line extends from Sacramento n, ,,o .,,.,
waters OF the Pacific, eastward across the ricbas -
most populous parts of California Nevada nd Tr,.h
contiguous to all the great Mining Regions of he Far
West anu VIII meet and connect with the roads now
otnlolng east OF the Rocky Mountains About 100
mics are now built equipped and in running opera
ton to the summit of the Sierra Nevada. Witb,p n
few d US 30 miles, now graded will be added, and
the track carried entirely across the mountains 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.
anu 900 men are employed in the construction
Ihe local business upon completed portion sur
passes all previous estimate The figures for the
quarter ending August 81 are as follows in GOLD:
cross Operating Net
Earnings, Expenses, Earnings,
s4s5 ,579 "a SS6,J4S ~ s4OI .O31 ~
or at the rate of two millions per annum. ofwbcb
more than -ourths net profit on less than 100
mil worked This is upon The actual legitimate
faine fthe road with its terminus in the mountains
ana with only the normal ratio OF government trans
ahdis exclusive of the materials carried Tor
the mrther extension ofthe road .3 ~ 90
The Company's interest liabilities duripp the sauna
period were less than $125,OOO. ST
Add to this ever-expapding tbrouob FRO t,;o ,,d
tne proportions ofthe future business become I'M
mense.
'ho company are authorized to continue their line
eastward until 1t shall meet and connect with the
ROADS now building east Of the Rocky Mountain ran
ges. Assuming that they will build and control hair
Inc entire distance between San Francisco and the
Missouri River, as now seems probable, the United
States will have invested in the completion of q
miles SOS ,592 900, or at the average rate of
sSo, OOO per mile-not including an absolute grant
OF iosoOO,OOO acres OF the Public lands. By be-
coming aJon investor in the magnificent enterprise
ana by waving its first lien in favor of First Mort
gage Bondhoders, the General Government in effect,
incies the cooperation Of pirate capitalists. and
has carefully guarded their interests against all or
binary contingencies.
Inc Company offer for SALE through u.s. their ID.
First Mortgage Thirty Year, Six
per Cent. Coupon Bonds,
Ersneipat aud Interest payable in Gold
Coin, in New York city. They are in sums of 81 :.
600 each, with sem-annual gold coupons attached.
and are selling for the present at 81 per cent. and
accrued interest from July list added in currency at
which rate they yield nearly =...-
Nine per Gent. upon abe Investment.
These Bonds, authorized by OF Congress- are is
sued only as the work Progresses and to the same a.
mount Only as the Bonds granted by the Govern
ment and represent, in all cases, the fystie upon
aeompeted, equipped, and productive railroad in
| which have been invested Government subsidies.
stock subscriptions, donations. surplus earnings etc
ana which isworth more than three times the amount
OF First Mortgage Bonds which can be issued upen it,
=, The Cenfral Pacific First Mortgage Bonds have all
tiis assurances sanctions and guarantees OF the Pa
chc Railroad Act of Congress, and have in addition
several noticeable advantages over ali other classes
OF railroad bonds.
fIRsTThey are tho superior claim upon altogether
| line. -
SECOND = Beside the fullest benefit of the Govern
| ment subsidy, (which is subordinate lien) ths
Tobi receives the benefit of large donations
from California.
| TmRp-Fully half the whole cost Of grading 500
| iniits eastward OF San Francisco is Concentrated
upon the l5o miles now about completed h
FoURTH-A local business already Welding tbree-
ioa the annual interest liabilities with adyan
| tageoas rates payable in coin. " 4sft .7f
flFTh-The principal as well as the interest OF its
Bonds being payable In coin, upon legally bind
in. agreement.
Having carefully investigated the Resources pro-
gfess, ana prospects OF the road, and the manage
ment Of The Companys affairs, we cordially recon-
iaehd these Bonds to Trustees Executors lnstitu-
IONS ana others as az enuently soaao, aud reliaote
| feneaneFdtsre form Of permanent Investment.
conversions of Government Securities