Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1867-09-19
A CROSS THE SIERRA NEvADAS
THE CENTRAL PACIFIC RAIDROAD.


The Western half of the Great National
Trunk Line across the Continent, being con
struoted with the aid and supervision OF the
United States Government, Is destined to be
ons of the most important lines OF communal
cation in the world; as II Ia the sole link be-
tween 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.
It's line extends from Sacramento, on the
tidal waters Of the Pacific, eastward across the
richest and most populous parts OF california,
Nevada and Utah, contiguous 10 ail the great
Mining Regions Of the Far West, and will meet
and connect with the roads now building east
OF the ROCKY Mountains. About 100 miles are
now built, equipped and in running operation
10 the summit OF the Sierra Nevada. Within
few days IS miles, now graded, will he added,
and the track carried entirely across the noun
tains to q point in the Great Salt Lake Valley,
whence further progress will be easy and rapid
Iron, materials and equipment are ready at
hand for 800 miles OF road, and 10000 men are
employed in the construction.
The local business upon the completed por'
ton surpasses all previous estimate. The
figures for the quarter ending August 81 are as
follows in Gold: gross earnings, SiS7,oI9 81;
operating expenses, SS6,54S d; net earnings,
$40l, 03l II, or at the rate OF two millions per
annum, OF which more than threefourths are
net profit on less than 100 miles worked. This
is upon the actual legitimate traffic of the road,
with us terminus IN Ils MOUNTAINS, duu Win
only the normal ratio of government transport,
alton, and is exclusive OF the materials carried
for the further extension OF the road.
The Company's interest liabilities during the
same period were less than $l25,0O0.
Add to this an ever expanding through trathc
and the proportions OF the future business be
come immense.
The Company are authorized to continue
their line eastward until IL shall meet and con-
meet with the roads now building east of the
Rocky Mountain AaAumlnV that thpV
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 S65 miles
$2S 59a 000 or at the average rate of S35 600 per
| mile-not including an absolute grant of TO-
100000 acres OF the Pubic lands. By becoming
Joint investor in the magnificent enterprise,
and by waving its first lien in favor Of the First
| Mortgage BondhOlderr, the General Govern
ment, in effect, invites the cooperation Of pri.
waite capitalists, and has carefully guarded their
interests against all ordinary contingencies.
| The Company offer for sale through US, their
| First Mortgage Thirty-Year Six per cent. Cou.
| pom Bonds. principal and interest payable in
| Gold coin in New York city. They are in sums
| of 81 .UOO each, with semi annual gold coupons
attached, and are selling for the present at %
| per cent and accrued interest from July lst
| added, in currency, at which rate they yield
nearly nine per cent. upon the Investment.
These Bonds, authorized by act OF Congress-
| are issued only as the work progresses, and Il
| the same amount only as the Bonds granted by
| the Government; and represent in all cases the
| frat lieR upon q completed, equipped and pro
| duCtive railroad, in which have been invested
| Government subsidies. Stock subscriptions
| donations, surplus earnings, etc, and which il
worth more than three times the amount Of
First Mortgage Bonds which can be issued
| upon it.
The Central Pacific First Mortgage Bond:
| have all the assurances sanctions and guAran
! n NR Pacific Railroad z n Con apr
have in addition several noticeable advantages
over al! 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 lenl thu
road receives the benefit of large donations
| from California.
| miles eastward of San Francisco is COnCen
| 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.-The principal as well as the interest o
its Bonds being payable in coin, upon legal,
| binding agreement.
Having carefully investigated the resources
and prospects of the Road, and the manage
ment of the Company's affairs, we cordially re
commend these Bonds TO Trustees Executors
| Institutions and Others as an emiDently sound
reliable and remunerative form OF permanen
luNesLiuGuL.
| Conversions of Government Securities init
Central Pacific First Mortgage Bonds now re
slize for the holders from Twelve TO Fighter
per cent. advantage, with the same rate Of In
terest.
The following are the current rates (Septem
Der 9TH subject, of course, to slight variation
from day to day. We receive in exchange:
US, Skies, 1861, coupon, and pay differ
fence, 1884
Us. Five Twenties, 1862, coupons, 1904
|
| Us. - 1865, - " 1854
US. 1855, new, a. 1909
| US. " 6T,pew), " 1909
Us. Ten F0rties coupons pay difference, 80 4
Us. Seyen-Thirties C9d series), A. 1881
| Us, ID series), . 129I
For sale by Banks and Bankers generally, o
whom descriptive Pamphlets and Maps can b.
obtained, and by
FISK & HATCH,
Bankers q Dealers in Government Securities
and Financial Agents of the c. P. R. r. Co.
No. 5 Nassau ST., n. Y.