The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1867-10-11
MISCELLANEOUS.

HE
.CENTRAaI
Pacific Railroad
The Western half of the
Great National Trunk Lime
{. VI Acs'oss the Continent, |
Being constructed with the AID and sUPERyIs-
ION OF THE UNITED STATES GovERNMENT.
Is destined to be Of the most important lines of
communication In the world, as it Is the sole link
between the Pacific Coast and the Great Interior
Basin, over which the immense overland travel must
pass, and the - -'t S@rfsa rtfAas - |
Principal portion Of the Main Stem Line
between the Two Oceans.
It's line extends from Sacramento, on the tidal
waters OF the Pacific eastward across the richest and
most populous 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
non 70 the summit OF the Sierra Nevada. within
-" 'S'"" "hcs, now graueu VIII De added, and
the track carried entirely across the mountains to
point IN the Great Salt Lake Valley, whence further
progress win be easy and rapid Iron, materials and
equipment are ready at hand for 800 miles Of road
and 10, 600 men are employed in the construction.
The local business upon the completed nortion sur
passes all previous estimate. The figures for the
quarter ending August 81 are as follows in GOLD:
Gross Operating Net
Earnings, ErDenses Forn:aoo
$4S5 ,570 81 SS6,54S A. s4Oi ,O31 ~
or at the rate OF two millions per annum, of which
more than three ourths net profit less than 100
mil worked. This is upon the actual, legitimate
trafhc Ofthe road with its terminus in the mountains
and with only the normal ratio OF government trans
portaton and exclusive of the materials carried Tor
the further extension fthe road
The Company interest liabilities during the same
period were less than $125, OOO Y III fHtff
Add to this an ever-expandng through traffic and
the proportions ofthe future business become In
mense.
The Company are authorized to continue their line
eastward until it shall meet and connect with the
roads now building east OF the Rocky Mountain ran.
ges. Assuming that they will build and control half
the entire distance between San Francisco and the
Missouri River, seems probable the United
States will have invested in the completion of
miles t$2S, 500 900, or at the average rate of
$50, 900 per milc-not including an absolute grant
OF IL, 100, 600 acres of the Public lands Ry be-
coming ajc'nt investorin the magnificent enterprise
and by waving its first lien in favor of First Mort
gage Bondholders the General Government, in eject
snrifes the co-operdtion Of private capitalists and
has carefully guarded their interests against all or
binary contingencies.
The Company offer for sale, through us, their
First Mortgage Thirty Year, Six
: per Cent. Coupon BOnds, ,
Principal and Inserest payable in Gold
Coin, in New York city. They are in sums OF ST.
900 each, with senii-annual gold coupons attached
and are selling for the present at "a per cent. and
accrued interest from July list added in currency at
which rate they yield nearly
Nine per Gent. upon the Investment.
These Bonds, authorized by act of Congress are is
sued only the work progresses and to the same a.
mount only as the Bonds granted by the Govern
ment; and represent in all cases, the frstl lie upon
completed equipped, and productive railroad, in
which have been invested Government subsidies,
stock subscriptions donatons surplus earnings etc..
and which is worth more than three times the amount
OF First Mortgage Bonds which can be issued upon it.
The Central Pacific First Mortgage Bonds have all
the assurances sanctions and guarantees OF the Pa
cine haroad Act OF Congress, and have in addition
several noticeable advantages all other classes
| of railroad bonds.
FIRsT-Tbey are the superior claim upon altogether
the most vital and valuable portion of the through
| SECOND Beside the fullest benefit OF the Govern
ment subsidy, (which is a subordinate Iien,) tn.
from California.
THRD-Fully half the whole cost Of grading 500
mil $ eastward OF San Francisco Is concentrated
upon the 100 miles now about completed.
| FoURTH-A local business already Welding three
| yOld The annual interest Will adu