Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1867-09-26
A CROSS THE SIERRA NEvADAs
THE CENTRAL PACIFIC RAIDRoAp.

]
| Trunk Line across the Continent, being con,
sructed with the aid and supervision Of the
United states Government, Is destined To be
oha OF tue most important lines Of cOmmuni,
cation In the world a. Ii "a the sole link re.
tween the Pacific Coast and the Great Interior
Basin, over which the immense Overland travel
must pass and the principal portion Of the
main stem line between the two Oceans.
Its line extends nom Sacramento, on the
tda. waters Of the Paelhc, eastward across the
| richest and most populous parts of California,
Nevada and Utah, contiguous to all the urea,
| 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
| ROW built, equipped and in running operation
| TO the summit OF the Sierra Nevada Within a
| few days 35 miles, now graded, win he added
! and the track carried entirely across the noun
| tains 10 point in the Great Salt Lake Valley.
| whence further progress will be easy and rapid
| lion, materials and equipment are ready al
! hand for SEQ miles of road, and 10000 men are
| employed In the construction,
The local business upon the completed nor.
ton surpasses all previous estimate. The
( NgGres Tor the quarter ending August 81 are as
/ follows in Gold gross earnings, S4S1519 81:
| operating expenses, SS6,54S a.; net earnings,
| Siulo2, =, or at the rate of two millions per
| annUm, Of which more than three fOurths are
| net profit on less than 100 miles worked This
IL upon the actual, legitimate traffic of the road
| with its terminus in the mountains, and with
| only the normal ratio OF government transport
alton, and is exclusive of the materials carried
| for the further extension of the road,
The COmpany's interest liabilities during the
! same period were less than Sl25000
| Add to this an ever expanding through traffic
| and the proportions OF the future business be
| come immense.
The Company are authorized to continue
their line eastward until it shall meet and con-
meet with the roads now building east of the
| Rocky Mountain ranges. Assuming that they
| will build and control half the entire distance
| between san Francisco and the Missouri River,
| as now seems probable, the United States will
| have Invested in the completion of sos miles
SOS 1899 COO or at the average rate of S35 900 per
| mie-not including an absolute grant of To-
! 100000 acres of the Pubic lands. By becoming
| joint investor in the magnificent enterprise,
and by waving its first lien in favor of the First
| Mortgage Bondholderr, the General Govern
ment, in effect, invites the cooperation of pri-
waite capitalists, and has carefully guarded their
interests against all ordinary contingencies.
The Company offer ior sale, through Us, their
| First Mortgage Thirty-Year Six per cent. Goa.
| pom Bonds, principal and interest payable i'll
| Gold coin, in New GOrk city. They are in sums
of 81 900 each with semtanhual gold coupons
| attached, and are selling for the present at 95
| per cent, and accrued interest from July 1st
! added in currency, at which rate they yield
nearly nine per cent. upon the Investment.
These Bonds authorized by act of Congress,
| are issued only as the work progresses, and -
| the same amount only as the Bonds granted by
| the Government; and represent in all cases the
| first liep upon completed, equipped and pro
duCtye railroad, in which have been invested
| Government subsidies. Stock subscriptions,
! donations. surplus earnings, ETC., and which is
| worth more than three times the amount of
! First Mortgage Bonds which can be issued
| HpOn 1t.
The Central Pacific First Mortgage Bonds
| 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-'VhpV the SuDpTlOT claim Alto
| gether the most vital and valuable portion Of
| the through line.
2d.-Beside the fullest benefit of the Govern
ment subsidy, (Which Is a subordinate llen,) the
| road receives the benefit of large donations
| from California.
| 3d.-Fully half the whole cost of grading 500
miles eastward of San Francisco is COnCen-
| 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 of
| its Bonds being payable in coin, upon legally
| binding agreement.
| Having carefully investigated the resources
| and prospects of the Road, and the manage
| ment of the COmpany's affairs, we cordially re-
| commend these Bonds to Trustees, Executors,
! Institutions and Others as an emiDently sound,
| reliable and remunerative form OF permanent
| investment.
| Conversions of Government Securities into
| Central Pacific First Mortgage Bonds now re-
| alize for the holders from Twelve to Eighteen
per cent. advantage, with the same rate of In
| terest.
The following are the current rates (Septem-
Der 9th,) subject, of course, to slight variations
from day to day. We receive in exchange:
US. Skies, 1851 coupon, and pay differ
fence, 15S.49
| US. FiVe-TweRties, 1862, coupons, - 1SO.49
US. 1861 " " 1859
| US. 1865, - 148.49
| US. 1865, new, " 1909
| US. 1867, new, " 1909
US. Ten,Forties coupons, pay difference, 38.49
| Us. Seycn-Thirties ed series), " 1878
| US. " I'D series), g I2219
For sale by Banks and Bankers generally, of
whom descriptive Pamphlets and Maps can be
obtained, and by
FISK s. HATCH.
! Bankers g. Dealers in Government Securities,
| and Financial Agents of the c. P. r. r. Co.,
No. ) Nassau St, y. Y.
| aug19d&w3m