The Portland daily press., 1867-09-10

Pacific Railroad
ra The Western half of the els D
Great National Trunk Line
Across the Continent, A
Being constructed with the AID and SUPERvIS-
ION OF THE UNITED STATES GOVERNMENT,
is destined 10 be Of the most Important and val
liable Railroads in the world as it is the sole link of
communication between the Pacific Coast and the
Great Interior Basin, and the ari u r.sl
Principal portion Of the Main Stem Line
7-..- between the Two Oceans.
The present western terminus is at Sacramento on
the navigable waters of the Pacc but it will ulti-
mately extend from San Francisco the richest
and most populous parts of California, Nevada and
Utah, contiguous to all the great Mining Regions of
the Far West. The companyare author zed to con-
tinue their line eastward until it shall meet and con-
meet with the roa Is building east of the Rocky
Assuming that they will build and control half the
entire dstaace between San Francisco and the Mis-
souri, River, a. now seems probable, the United States
will have invested in the completion of SOS miles
$3S,592 900, or at the average rate of $3J 200
per mile-not including absolute grant of 10,
goo coo, acres of the Public Lands. BY becoming
ajont investor in the magnificent enterprise and by
waiging its first lien in favor of the First Mortgage
Bondholiers, THE GENERAL GovsRNMENT, IN Eff
Feet, INVITES THE COOPERATION OF PRIVATE
oAPITALIsTs and has carefully guarded their inter-
ests against all ordinary contingencies.
The central Pacific Railroad enjoys al the privi-
legcs, grants and subsidies conferred by the Acts Of
Congress upon the other par ofthe through line and
has, i'll addition, several special, clu. i've nd
vnnfages applicable only to the Western HALF
1. The Company has received from the State and
chief cities of California, assistance in money,
cred1t and valuable property worth over So, ,000-
900 in gold, in addition to the full benefit OF tile
Government subsidy.
H. The hardest and costiest part of its construction
has been successfully overcome within The first
$50 miles In few weeks the /, ack vii, he COM
pleted entirely across the Sierra Nevadas, after
which progress to Salt Lake will be easy and
Ill. The 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,
were upward of 1927 900 in gold, of which four
iitths were net earnings.
~. 1t have no competition, but will carry be-
side its lucrative local traffic, the arhole uoi-
anae Of Through business which is shared among
its Eastern connections and their branches.
v. The road lies wholly in territory yielding the
ed in COIN. Its rates for transportation are very
advantageous, being more than three times those
ofroads lying east oft; and the ratio of operat-
ing expenses is less than % per cent. of the gross
earnings. H t aHf ~
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
1866, were nearly three hines tke amount or an
mudt interest Liabilities to be assumed in building
10, and ,oere 1926 900 more than the annual inter
ton the entire amount Of First MOrtgoge Bonds
,oh!ch the Company can issue upon The first 150
miles. -
The Company offer for salc through us, their
First Mortgage Thirty Year, Six
per Gent. Coupon Bonds,
Principal and Interest payable im Gold
Coin, in New York city. They are in sums of ST.
900 each, with semi-annual gold coupons attached,
and are selling for the present at 9J per cent. and
accrued interest from July list added in currency at
which rate they yield nearly
Nine per Cent. 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 frstHen upon
completed, equipped, and productive 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 be issued upon it
Ike agreement Of his Company to pay principal and
interest of thoir Bonds in con being made under the
Special Contract Law of California; authorizing 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 combined
The First Mortgage Bonds of this Company are
destined to occupy prominent place among First
Class Securities in the money markets OF this country
and Europe, and will, without doubt, be eagerly
sought for and anxiously dealt in hereafter rates
materially in advance of the price at which they
now offered.
Having carefully investigated the resources, pro-
gress and prospects of the road, and the manage
ment Of the Company's affairs, we cordially recon-
mend these Bonds to Trustees, Executors, Institu-
tons, and others as an entirely sound, reliable and
remunerative form Of permanent inUestment.
Conversions Of Government Securities
INTO
Central Pacific First Mortgage
Bonds
Now realize for the holders about
TWELVE PER CENT. ADVANTAGE,
H With the same rate of in crest.
For sale by Banks and Bankers generally, OF whom
descriptive Pamphlets and Maps can be obtained,
andby
Fisk Sc Hatch.
Banixcrs and Dealers i'm Government Sc.
curities,
AND
Fina ncimI A gents of the C. r. r. R. Co.,
No. IS Nassau Street, N. Y.
N. BAH kinds Of ofGoverument Securities Boupb,
| and Sold; Deposits and Accounts of Banks, Bankers
and others received on favorable terms. auclodam
Notice to Land Holders.
| MR O'DUROCHER, Builder il prepared to take
w contracts tor building, either by JOB or by
| DAY WORK. Can furnish First Glass workmsr