The Portland daily press., 1867-09-14
MISCELLANEOUS.

| Pacific Railroad
The Western half of the 1 '.H
Great National I1unI lime
Across the Continent. ID.
Being constructed with the AID and SUPERyIs
ION OF THE UNITED STATES GOVERNMENT.
is destined to be one of the most important and val
liable Railroads in the world it is the sole link
Communication between the Pacific Coast and the
Great Interior Basin, and the -s
Principal portion Of the Mnin Stem Line
between the Two Oceans.
The present western terminus is at Sacramento on
the navgabe waters OF the Pacific, but it will uti-
mately extend from San Francisco the richest
and most popuous parts OF California Nevada, and
Utah, contiguous to all the great Mining Regions of
the Far West. The company are author zed to con-
nue their line eastward until it shall meet and con
meet with the roads now building east of the Rocky
Mountain ranges. p l
Assuming that they viii build and control half the
entire distance between San Francisco and the Mis-
souri, River, probable, the United States
will have invested in the completion of S65 miles
per mile-not including an absolute grant of 10,
900 600, acres of the Public Lands BY becoming
joint investor in the magnificent enterprise and by
waving its first lien in favor of the First Mortgage
BOndholders, THE GENERAL GOVERNMENT, IN EF-
FEET, INVITES THE COOPERATION OF PRIVATE
CAPITALISTS, and has carefully guarded their inter-
ests against all ordinary contingencies. M
The Central Pacific Railroad enjoys all the privi-
eges grants and subsidies conferred by the Acts of
Congress upon the other parisofte through ine and
has, in addition, several special, exclu.ivc ad-
vantages applicable only to the Western Half
I. The Company has received from the State and
chief cities Of California, assistance in money
credit and valuable property worth over $4,000 :
eoO In gold, in addition TO the full benefit OF the
Government subsidy. - fl t...l.i... 81
H. The hardest and costliest part of its construction
has been successfully overcome within the first
$50 miles. In a few weeks the track will be com
pleted entirely across the Sierra Neyadas after
which progress to Salt Lake will be easy and
rapid. .1tr Il 73gaacta d f t9l-i
ILL., The local business alone of this road establishes
its complete financial success, independently Of
the vast through traffic which must pass over it,
The gross earnings for the months OF June and
July, upon the "a miles then open for business
We're upward of 1927 900 in gold, of which four
fifths were net earnings. Irf
w. 1t can have competition, but will carry be-
side its own lucrative local traffic. the rhole roll
ime Of through business which is shared among
Its Eastern connections and their branches.
v. Inc rOdu hes Wn0ily IN territory yielding the
precious metals, and its revenues are collect
ed in COIN. Its rates Tor transportation are very
advantageous, being more than three times those
ofreads lying east oft and the ratio of operat-
ing expenses is less than % per cent of the gross
earnings
vi. In consequence of the aid it receives from the
General Government. from the State of Calitor
mia and from municipal corporations, the annu-
al interest obligations which the Company are
called upon to assume are very light. The net
earnings upon an average of about 70 miles, in
1s66, were nearly three times the amount of an
naaJ interest liabilities to be assumed in building
1t, and mere $235 900 more than the annual inter
este the entire amount of First Mortgage Bonds
aohich the Company can issue upon the first 100
miles.
The Company offer for sale, through us, their
First Mortgage Thirty Year, Six
per Cent. Coupon Bonds,
Principal and Interest payable in Gold
Coin, in New York city. They are in sums Of ST.
900 each, with semi-aimual gold coupons attached,
and are selling for the present at % per cent and
accrued interest from July 1st added, in currency at
which rate they yield nearly .r,
Nine per Gent. upOn the Invcsan,cni.
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 first lien upon
a completed, equipped, and productive railroad in
which have been invested Government subsidies
stock subscriptions, donations surplus earnings
and which isworth more than three times the amount
of First Mortgage Bonds which can be issued npont
TIC VI lhis Company to pay principal and
interest of thor Bonds in coin being made under the
Special Contract Law of California authorzing and
enforcing contracts to pay gold, is legally binding
unlike similar agreements made by companies in
States where no such legislative sanction exists.
In these important particular the Securities OF the
Central Pacific Company offer an unusual degree of
SAFETY, stability and profit combiped. teaa-
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 anxiously dealt in hereafter at rates
materially in advance of the price at which they are
now offered. aaritUat .a.tI. s.
Having carefully investigated the resources, pro-
eress, and prospects of the road, and the manage
ment of the Companys affairs, we cordially recon-
mend these Bonds to Trustees, Executors, Institu-
lions, and others as an entirely sound, reliable and
rsnaunerdttve form Of permanent Investment
Conversions Of GOverament Securities
gas.f asguA8Hfr ssn INTO eF sa
Central Pacific First Mortgage
Bonds r -.
Now realize for the holders about
TWELVE PER CENT. ADVANTAGE,
With the same rate of interest.
For sale by Banks and Bankers generally, of whom
descriptive Pamphlets and Maps can be obtained,
andby
Fisk SN Hatch.
Bankers and Dealers in Government se-
9 .,.t te.. - curities, @Il.HF
AND
Financial gents Of the a.. II. Il. IL. Co.,
No. 8 Nassau Street, NJ. Y.
n; Ban kinds fGovernmentSecurtiesB Bought