The Portland daily press., 1867-10-18
MISCELLANEOUS.

ACfoSS Cne Sierra NeVadaS.
EFT rHn to Sci
.CENTRA AL
Pacific Railroad
The Western half Of the
Great Notjosal TRUNK Line
Aeross 1se Continent,
Being constructed with the AID and surERyIs.
ION " IsE UNITED STATES GOVERNMENT,
is destined to be one OF the most m porant lines OF
communication In the world. az 1, il tha aofa Inv
between 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 from Sacramento on the tidal
waters OF the Pacific eastward the richest and
most popuous parts of California Nevada and Utah.
contiguous to all the great Mining Regions of the Far
west, and VIII meet and connect with the roads now
building east of The Rocky Mountains. About 100
miies are now built, equipped and in running opera
ton TO the summit Of the Sierra Nevada Within
lew q ys3b miles, now graded, will be added, and
the track carried entirely across the mountains to
pointdn the Great Salt Lake Valley, whence further
progress will be easy and rapid Iron materials and
equipment are ready at hand tor 300 miles of road
and 600 men are employed in the construction.
The local business upon the peted portion sur
passes all previous estimate. The figures for the
quarter ending August 81 are as follows in GOLD:
Gross Operating Net
Earnings, Expenses, Earnings
$4S5,57964 Ss6,54s AZ s4Ol ,O3I ~
or at the rate of two millions per annum of which
more than three ourths net profit ON less than 100
mil worked. sThisis upon the actual, legitimate
uahic ofthe road with its terminus in the mountains
and with only the normal ratio government trans
portaon andis exclusive of the materials carried for
the further extension of the road rs "ts@ .r
The Company $ interest liabilities during the same
period were less than $125 COO. III
Add to this an ever-ex banding through traffic and
the proportions ofthe future business become In
mense. $500. =
The Company are authorized to continue their line
eastward until itshall 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, as now seems probable, the United
STATES VIII have invested in the completion of q s
miles SSS,0O|, 900, or at the average rate of
$30,OOO per mfic-not including an absolute grant
of 1O,OOO,OOO acres of the Public lands Ry be-
coming aJo mt investors in the magnificent enterprise
and by waving its first lien in favor OF First Mort
gage Bondholders, the General Government in effect
inrites the cooperation Of private capitalists, and
has carefully guarded their interests against all or
binary contingencies. fa et
=
The Company offer for sale, through us, their
First Mortgage Thirty Year, Six
per Gent. Coupon Bonds,
Principal and Enterest payable in Gold
Coin, in New York city They are in sums Of ST.
600 each, with semi-annual gold coupons attached,
and are selling for the present 9J 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 as the work progresses and to the same
ountoEly as the Bonds granted by the Govern
ment; and represent in all cases, the first DE upon
acompleted, equipped and productive railroad, in
which have been invested Government subsidies.
stock subscriptions, donations. surplus earnings etc
and which sworth 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
cnc haaroad Aet OF congress. and have i'm addition
several noticeable advantages over all other classes
OF railroad bonds. Sfl ~ III
FIRsT-Tbey are the superior claim upon altogether
line. MS = :
SECOND Beside the fullest benefit of the Govern
ment subsidy, (Which is a subordinate hen,l tn
|. road receives the benefit ofs large donations
from California.
THIRD-Fully half the whole cost OF grading 500
mllcS eastward of San Eranriaea ia c0neantrataj
upon the $50 miles now about completed.
FoURIH-A local business already Welding three
old the annual interest liabilities, with advan-
tageous rates payable in coin. J =
FIFTH-The principal as well as the interest OF its
Bonds being payable in coin, upon legally bind
ing agreement. SIS
haVihg carefully investigated the resources, pro-
gress, and prospects of the road, and the manage
ment Oh the Companys affairs, We cordially recon-
menu THESE Bonds TO Trustees, Executors, Institu-
lions, ana Others as enlinenty sound and relinote
recommending form OF permanent Investment
I, conversions Of GOvernment Securities