The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1867-08-29
MISCELLANEOUS.
II II e
CENTRA AL
Pacific Railroad
Is RI, The Western half of the
Gre0t National Trunk line
Acr0ss the Continent,

Il
AcrOss the Continent,
Being constructed with the AID and SUPERVIS-
ION OF THE UNITED STATES GOVERNMENT,
is destined to be of the in portant and val
liable Railroads in the world it is the sole link of
communication between the Pacific Coast and the
Great interior Basin, and the H>. '~t
Principal portion Of the Main Stem Line
ID between the Two Oceans.
( Tho present western terminus is at Sacramento on
the navigabe waters Of the Pacific but it will ult-
mately extend from San Francisco across the richest
and most pspuous parts OF California, Nevada, and
Utah, contiguous to all the great Mining Regions of
the Far West The company are author zed to con-
tnue their line eastward until it shall meet and con-
meet wi. he roads now building east of the Rocky
Mountain ranges. tf ~ =
Assuming that they will build and control half the
entire d &c between San Francisco and the Mis-
souri, River, a now seems probable the United States
win have invested in the completion Of S6J miles
$9S ,509 900, or at the average rate of s3J 900
per mile-not including absolute grant of 10,
900 ,OOO, acres of the Public Lands By becoming
joint investor in the magnificent enterprise and by
waving hrst lien in favor Of the First Mortgage
Bondaolbe4s, THE GENERAL GOVERNMENT, IN Eff
FFcZ, iisyITis THE COOPERATION OF PRIVATE
CAPITALISTS and has carefully guarded their inter-
ests against all ordinary contingencies.
The Central Pacific Railroad enjoys all the privi-
leges, graz subsidies conferred by the Acts of
Congress upon the other parts othe through ne and
has, In addition, several special, exclu. i've nd
vantases applicable only to the Western Half.
1. The Company has received from the State and
chiei citlesof California, assistance in money,
9oO IN goid, in addition to the full benefit OF the
Government subsidy. .s-.,
H. The hardest and costlies part of its construction
has been successfully overcome within the first
. 150 miles. In few weeks the track will be com
pleted entirely across the Sierra Nevadas, after
which progress to Salt Lake will be easy and
III. The local business alone of this road establishes
its comrie financial success, independently of
the vi.S eiirough traffic which must pass over it.
: Ine gross earnings W for the months Of June and
July H'on the "a miles then open for business,
were 5ard of $297 900 in gold, of which four
hfths were net earnings.
w. It can have competition, but will carry be-
side its own lucrative local traffic The ,phole yol-
atne Of Through business which is shared among
its Eastern connections and their branches.
v. The road lies wholly in territory Welding the
preeioH metals, and its revenues are collect
Ell mtsE Its rates Tor transportation very
aIvap cus being more than three times those
ofroads wing east oft; and the ratio of operat-
ing esr.ses is less than 25 per cent. of the gross
earnings. iA >s-1 tli5 DHN q
VII In consequence OF the aid it receives from the
General Government, from the State of Califor-
mia and from municipal corporations, the annu-
a intereYt obligations which the Company are
called upon to assume are very light. The net
earnings upon an average of about 70 miles, in
1866, were nearly three times the amount Of an
nuat interest liabilities to be assumed in buitding
it, and 1895 600 more than the annual inter
esfon the e,stire amount Of First Mortgage Bonds
Z wn,ch the Company can issue upon the first 100
The Company offer for sale, through us, their '
First Mortgage Thirty Year, Six
per lent. Coupon Bonds,
Principal and Interest payable in Gold
Coin, in New York city. They are in sums of 81,
600 each, withsemi-annual gold coupons attached,
and arc selling for the present at 05 per cent and
accrued interest from July 1st added in currency at
which rate they yield nearly
Mine per Cent. upon the Investment.
These Bonds, authorized by act of Congress are is
sued only as the work progresses and the same
mount OILY as the Bonds granted by the Govern
ment; and represent in all cases, the first lien upon
aeompieted, equipped, and productive railroad, in
which have been invested Government subsidies,
STOCK subscriptions, donations surplus earnings etc..
and which is worth than three times the amount
OF First Mortgage Bonds which can be issued upon it.
Ike agreement his Company to pay principal and
tnterest of thof Bonds in con being made under the
Special Contract Law of California authorizing and
enforcing contracts to pay gold, is legally binding,
unlike sisasiar 7esroe@cnts made by companies in
States where no such Legislative ss,.etion exists
In these important particular the Securities of the
Central Pacific Company offer an unusual degree Of
safety, stability and profit combined. y
The First Mortgage Bonds Of this Company are
destined to occupy prominent place among First
Glass Securities in the money markets of this country
and Europe, and will, without doubt, be eagerly
sought for and anxiousy dealt in hereafter at rates
materially in advance of the price at which they are
now offered.
Having carefully investigated the resources, pro-
gress, and prospects of the road, and the manage
ment Of the Company's affairs, we cordially recon-
mend these Bonds to Trustees, Executors, Insttri-
tions, and others entirely sound, reliable and
remunerative form Of permanent inuestneat
Conversions Of Goverunent securitie.
q Central Pacific First Mortgage
Il a Bonds -
Now realize for the holders about
TWELVE PER CENT. ADVANTAGE,
+. 4a With the same rate Of interest. IN
For sale by Banks and Bankers generally, OF whom
descriptive Pamphlets and Maps can be obtained
andby p'
Fisk N Hatch.
Bankers and Dealers i'm Governments Sc.
f,ye ~ curitics, gffF ~
a s. b3Isl 1850 AND i e5f ...f I-. y.-.Is
Financial A gents Of the G. p. r. r.. Co.,
"a No. 3 Nassau Street, N. Y.
n N. BAH kinds of ofGovernment Securities Bough,
and Sold; Deposits and Accounts of Banks, Bankers
and others received on favorable terms. aug19d3m