Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1867-10-24
A CROSS THE SIERRA NEyAn1S
TnE CENTRAL PACIFIC RAIpRo an

The Western half OF the Grcs, Na,,o,,,
Trunk Line across the Continent bsin,, noaA
etructed with the aid aud supeTyision 80 ~ "a,
United States Government, l. destined 90 ne nc
one OF the moot important lines Of oommun'.
cation in the world as 1t IL the sole I'M w.
tween the Pacific Coast and the Great Inter-.
Basin, over which the immense Overland trayei
must pass, and the principal portion of ths
main stem line between the two Oceans '1'
Its line extends from Sacramento n, A.
tidal waters Of the Pacific, eastward aeros. Inc
richest and most populous parts of California
Nevada and Utah, contiguous to all the grest
Mining Regions OF the Far West and will MS,
and connect with the roads now building es.t
of the Rocky Mountains. About 100 miles ara
now built equipped and In running operatioT
TO the summit OF the Sierra Nevada Within
few days So miles, now graded, win Ne added
and the track carried ent rely across the NOM,
tains to point In the Great Salt Lake Valley
whence further progress will be easy and rapd
Iron, materials and equipment are ready Al
hand for 800 miles of road and 10000 men A..
employed in the construction
The local business upon the completed Dor
tion sutpass,s all previous estimate m,
figures for the quarter ending August 81 are as
follows In Gold: gross earnings, $4S7,5TQ "a.
operating expenses, $50, SIS a.; net earnings'
$40l, O3i II, or at the rate of two millions ne,
annum, of which more than three ,fUurths Az
net profit on lees than 100 miles worked. Til.
Is 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 lie exclusive Of the materials carried
for the further extension of the road.
The Company's interest liabilities durino the
same period were lees than $l25, 600.
Add TO this an ever expanding through traAic
and the proportions of the future business be-
come immense.
The Company are authorized TO contipue
their line eastward until II shall meet and con
meet with the roads now building east of the
Rocky Mountain ranges. Assuming that thev
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 s6J miles
S2s 592 600 or at the average rate of ass O00 ner
| mile-not including an absolute 2ralt of In .
| 100000 acres of the Pubic lands BY hecOmiD,
joint investor In the magnificent enterprise
and By waving its first lien in favor OF the First
| Mortgage Bondhnlderr, the General Govern.
ment, in effect, invites the cooperation of pri.
waite capitalists, and has carefully guarded t6e,r
interests against all ordinary contingencies
The Company offer for sale, through Us thc.r
| First Mortgage Thirty Year Six per cent Con.
! pom BondF, principal and interest payable in
| Gold coin, in New York city. They are In sums
| of 600 each, with semi annual gold coupons
attached, and are eel ing for the present at rs
| per cent and accrued Interest from JuIv 1s'
| added, in currency, al which rate they vie q
| nearly nine per cent. upon the investment
| These Bonds, authorized by act of Congress-
are Issued only as the work progresses and tr
the same amount only as the Bonds granted By
| the Government; and represent in all CAGES the
first lien upon completed, equipped and pro
| ductive railroad, in which have been investee
| Government subsidies, Stock subscriptions
donations, surplus earnings ETC.. and which /,
| worth more than three times the amount o
| First Mortgage Bonds which can be issueC
| upon it,
The Central Pacific First Mortgage Bond,
| nave an the assurances, sanctions and guaran
ties OF the Pacific Railroad Act of Congress. auC
nave IN addition several noticeable advantage,
over all other classes of railroad bonds
lst.-They are the superior claim upon alto
gether the most vital and valuable portion O
the through line
2d.-Beside the fullest benefit of the Govern
| ment subsidy, (which Is a subordinate henO the
road receives the benefit of large donations
| from California.
3d-Fully half the whole cost of grading 50,
| miles eastward of San Francisco Is oonCen
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.-rhe principal as well as the interest O
its Bonds being payable IN coin, upon 4 legal
binding agreement.
Having carefully investigated the resource
and prospects Of the Road, and the manage
raent OF the Company's affairs. we cordially re
commend therc Bonds 10 Trustees, Executors
Institutions and Others as an eminently sound
|
investment.
| Conversions of Government Securities int
Central Pacific First Mortgage Bonds now re
alize for the holders from Twelve to Fighter
per cent advantage, with the same rate Of In
serest
The following are the current rates (Sepiem
Der 9th) subject, of course, to slight variation
from day to day. We receive in exchange:
US, Skies, 1851, coupon, and pay differ.
[cnce, 1884
US. Five.Tweaties, 1852, coupons, 1904
| US. 1854, " 1853
| US. 1855, 4" 1894
US. 1855, new, 1903
US. 1867, (new), 1903
US. Ten.Forties coupons, pay difference, 984
US. Seven-Thirties I'd seriesl, 1851
| US. I'D series), l22l
For sale by Banks and Bankers generally, 0
whom descriptive Pamphlets and Maps can b.
obtained, and by
FISK g. HATCH,
Bankers & Dealers in Government Securities
ana Financial Agents of the c F, K, K. Co.,
No. Nassau St, y. Y.
aug19d5wSm
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