The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1867-10-17
MISCELLANEOUS.

Pacific Railroad
The Western half of the srs |
Great National Is.sts,k Lime
" 1a Across the Continent,
Being constructed with the AID and SUPERVIS |
ION OF TIL UNITED STATES GOVERNMENT.
Is destined to be one of the mportant lines of
communication in the world, as it is the sole link
between the Pacific Coast and the Great Interior
Basin, over witch the immense overland trayelmust
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 Pacifc eastward across the richest and
most popuous 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 opera
ton to the summit of the Sierra Nevada. Within
lew days35 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 VIII be easy and rapid Iron materials and
equipment are ready at hand for 800 miles of road
and III, 600 men are employed in the construction
The local business upon the completed portion sur
passes all previous estimate. The figures Tor the
quarter ending August 81 are as follows in GOLD:
Gross Operating = Net
Earnings, Expenses, Earnings,
$4S7,579 % SSG,5iS A. $4Of ,O3Ia3
or at the rate Of two millions per annum, of which
more than ourhs net profit on less than 100
mil s worked This is upon The actual legitimate
traffic ofthe read with its terminus in the mountains
andwlth only the normal ratio OF government trans
portation and is exclusive of The materials carried for
the further extension Of the road. q 4#
The Company's interest liabilities during the same
period were less than $4,000.
Add to this ever-expanding through traffic and
the proportions The future business become Inn
mense. @ ~E
The Company are authorized to continue their line
eastward until tshan meet and connect with the
roads building east OF the Rocky Mountain ran
ges. Assuming that they win build and control halr
the entire distance between San francisco and the
Missouri River, as now seems probable, the United
States will have invested in The completion of : Z;
miles S%S, 59S 900, or at the average rate of
$3S, 1000 per milc-not including an absolute grant
of 10000, 900 acres of the Public lands BY be-
coming 10 mt nvestori in the magnificent enterprise
and by waving its first lien in favor of First Mort
gage Bondhoders, the General Government, in eject,
inrtes the cooperation Of pirate capitalists and
has carefully guarded their interests against all or
| binary contingencies. -osA
The Company offer for sale, through us, their
First Mortgage Thirty Year, Six
per Cent. Coupon Bonds,
Principal and Interest payable in Gold
Coin, in New York city. They are in sums Of ST.
| 900 each, with semi-annual gold coupons attached
and are selling for the present at Dj per cent and
accrued interest ON July added in currency at
| which rate they yield nearly
Nine per Gent. upon she Investment.
These Bonds, authorized by act of Congress are is
sued only as the work progresses and to the same
mount only as the Bonds granted by the Govern
ment; and represent in all cases, the first lie upon
| acompleted, equipped, and productive railroad in
which have been invested Government subsidies,
stock subscriptions, donations surplus earnings etc.
and which isworth than three times the amount
of First Mortgage Bonds which can be issued upon It,
The Central Pacific First NJ ortgage Bonds have all
the assurances, sanctions and guarantees OF the Pa
cfc Railroad Act OF Congress- and have in addition
several noticeable advantages over all other classes
| OF railroad bonds. n
FIRsT-Tbey the superior claim upon altogether
the most vital and valuable portion OF the through
4 line. s.s
| SECOND Beside the fullest benefit of the Govern
ment SUBSIDY, (Which is subordinate lien,) tn
road receives tue benefit Of large donations
from California.
| THIRD-Fully half tie whole cost OF grading 800
miles eastward OF San Francisco is concentrated
y upon the LOO miles now about completed.
| FoURIH-A local business already Welding tlree-
| iold the annual interest liabilities, with advan
tageous rates payable in coin.
FIFTn-The principal as well as the interest OF its
Bonds being payable in coin, upon legal bind
ing agreement e1,
Having carefully investigated the resources, pro-
gress, and prospects of the road, and the manage
lnent OF the Companys affairs, cordially recon-
mend these Bonds to Trustees, Executors lnstitu-
lions, and Others as at emnenty sound and reliaote
TenlaaeFdtsue form Of permanent Investment ar
Conversions of eSOyer1mcmt Securities
t t INTO f.54 #sR &a