The Portland daily press., 1867-09-25
EsEsCELLAN EOUs.

ne western hal1 Of the
Great National Ta.wnE Tine
across the Continent,
Being constructed with the AID and sUPERvIS-
ION OF THE UNITED STATES GOVERNMENT,
Is destined to be Of the most in porant lines of
communication in the world, it is the sole link
between the Pacific Coast and the Great Interior
Basin wi ich the immense overland travel must
pass, and the @ 1888 N",8 so kDs. .
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 populous parts of California Nevada and Utah,
contiguous to all the great Mining Regions of The Far
West, and will meet and connect with The roads
building east of the Rocky Mountains. About 100
miles are now built, equipped and in running opera
ton to the summit of the Sierra Nevada. Within
lew US So miles, now graded, will be added and
the track carried entirely across the mountains to
point in the Great Salt Lake Valley, whence further
progress will be easy and rapid Iron, materials and
equipment ready at hand for 300 miles of road,
and 10 900 men employed in the construction.
The local business upon the completed portion sur
passes all previous estimate The figures Tor the
quarter ending August 81 are as follows in GOLD:
Gross Operating r Net
Earnings, Expenses, Earnings,
$4S5 ,5s9Gf $SG,54S AZ s4Ol, O3117
at the rate of two millions per annum, of which
than three ourths net profit On less than 100
mil worked. This is upon the actual, legitimate
traffic ofte road with its terminus in The mountains,
and with only the normal ratio Of government trans
portatio ands exclusive of the materials carried Tor
the further extension Of the road.
The Companys interest liabilities during the same
period were less than $125,OOO.
Add to this an ever-expanding through traffic and
the proportions oftbe future business become I'm.
mense. .rt u4 teu.
The Company authorized to continue their line
eastward until itshall meet and connect with the
roads building east OF the Rocky Mountain ran
ge. Assuming that they will build and control half
the entire distance between San Fraucco and the
Missouri River, as now seems probable, the United
States will have invested in The completion of
miles SOS ,593 900, or at the average rate of
$3J 200 per mile-not including an absolute grant
of II, 900 900 acres OF the Public lands. BY be-
coming c mt investor in the magnificent enterprise
and by waving its first lien in favor of First Mort
gage Bondholders the General Government, effect,
inpites the cooperation Of private capitalists, and
has carefully guarded their interests against all or
binary contingencies.
The Company offer for sale, through us, their
First Mortgage thirty Year, Six
per Cent. 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 selling for the present at % per cent and
accrued interest from July LIST added in currency at
which rate they yield nearly ~
Mime per Gent. upon the Investment.
These Bonds, authorized by act of Congress, are is
sued only The work progresses, and TO The same
mount Only the Bonds granted by the Govern
ment; and represent in all cases, the first lien upon
a completed, equipped, and productive railroad iii
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.
The Central Pacific First Mortgage Bonds have all
the assurances sanctions and guarantees of the Pa
cc Railroad Act OF Congress, and have in addition
several noticeable advantages all other classes
of railroad bonds.
FRsT-They are the superior claim upon altogether
the most vital and valuable portion of the through
line
SECOND : Beside the fullest benefit of the Govern
meut subsidy, (which is a subordinate lien,) tn,
road receives the benefit OF large donations
from California.
THIRD-Fully half the whole cost oil grading 800
mil eastward OF San Il an isco is concentrated
upon the $50 miles now about completed
FoURrH-A local business already yielding three
iold the annual interest liabilities, with advan
t1geous rates payable in coin.
FIFrlI-The principal well the in crest OF its
Bonds being payable in coin, upon legally bind
ing agreement. l4.-
Having carefully investigated the resources, pro-
gress, and prospects Of the road, and the manage
ment of the Companys affairs, VIC cordially recon-
mend these Bonds to Tt1s'eoe Fvcrr'tors, Institu-
fnns and others Q I. pminpntlV rgI1blp
remuneratiUe form o. Dclhealssa1 nee StMent.