Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1867-08-22
THE CENTRAL PACIFIC RAIL.
i ROAD.

| Trunk Line across the Continent. being con.
| structed with the aid and supervision of the
| united states Government, is destined to be
| one of the most important and valuable Rail.
roads In the world rs it is the sole link of COM
| munlcatlon between the Pacific Coast and the
| Great Interior Basin, and the principal portion
| oil the main stem line between the two oceans
The present western teaminns is al Sacra-
| mento, on the navigsble waters of the Pacific
| out IT will ultimately extend from San Fran
| CISCO across the richest and most populous
| parts OF California, Nevada, and Utah, cOntigu.
| GUS TO all the great Mining Regions OF the Far
| west. The Company are authorized to con-
tnue their line eastward until it shall meet and
connect with the roads now building east OF
| the Rocky Mountain ranges.
| 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 will have invested in the
completion of S65 miles S2s, 592, 900, or at the
| average rate of $35, 600 per mile-not including
an absolute grant of 10000 900 acres of the Pub,
lie Lands. BY becoming joint investor in the
| magnificent enterprise, and by waving it's first
| lien in favor of the First Mortgage Bondhoders
| the General Government, in effect, invites the
| cooperation of private capitalists, and has
carefully guarded their interests against all or
| binary contingencies.
| The Central Pacific Railroad enjoys all the
| privileges, grants, and subsidies conferred by
| the Acts OF Congress upon the other parts Of
through line, and has, in addition, several spec
lal' exclusive advantages applicable only to the
| Western Half.
l; The Company has received from the State
| and chief cities of California, assistance in
money, credit, and valuable property, worth
| over $4,000 in gold, in addition to the full
beneht of the Government subsidy.
| 2. The hardest and costliest part OF it's cen.
| structlOn has been successfully overcome with
| IN the first $50 miles. In few weeks the track
| will be completed entirely across the Sierra
| NeVadas, after which progress to Salt Lake will
| be easy and rapid.
| g.. The local business alone of this road es.
| taDllshes Its complete financial success, indie
| pendently 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 $780,
| 900 in gold of which fOur-fiths were net earn.
| ings.
4. 1t can have no competition, but will carry
beside lis own lucrative local traffic, the whole
| volume of through businees which is shared
| among it's Eastern connections and their
branches.
| 5. The road lies wholly in territory yielding
| the precious metals, and its revenues are col.
lected in coin. Its rates for transportation are
| very advantageous, being more than three times
those of roads lying east of it; and the ratio of
| operating expenses is less than % per cent of
the gross earnings.
6. In consequt nee of the aid it receives from
| the General Government, from the STATE of
California, and from municipal corporations
| the annual interest obi cations which the Com.
| pany are called upon to assume are very light.
| The net earnings upon an average Of about Is
| miles, in 1866, were nearly three times the
| amount of annual interest liabilities to be as
sumed in baildng it, and were 1926 600 more
| than the annual interest on the entire amount
| of First Mortgage Bonds which the Company
can issue upon the first $50 miles.
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 $1,000 each, with semi annua gold
| coupons attached, and are selling Tor the pres
| ent at IS 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 Issued only as the work progresses, and to
the came amount only as the Bonds granted by
the Government; and represent in all cases,
the first lien upon a completed, equipped, and
productive railroad, in which have been invest
ed Government subsidies, stock subscriptions
donations, surplus earnings, ETC., and which is
worth more than three times the amount of
First Mortgage Bonds which can be issued
upon it.
The agreement of this Company to pay prin-
cipal and interest of their Bonds 10 coin, being
made under the Specie Contract Law of Cali.
fornia, authorizing and enforcing contracts to
pay gold is legally binding, unlike similar
agreements made by companies in States where
no such legislative sanction exists.
III thCeo PARTICULARS Tue 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 a prominent place
among frst-class securities in the money mar.
kets of this country and Europe, AID will, with.
out doubt, be eagerly sought for, and anxiOusly
dealt in hereafter, at rates materially in ad-
vance of the price at which they are now Of
fered.
Having carefully investigated the resources,
progress, and prospects of the road and the
management Of the Company's affairs, we cor
daily recommend these Bonds to Trustees, Ex-
ccutors, Institutions, and others as an emf
nently sound, reliable and remunerative form
of permanent investment.
Conversions of Government Securities into
Central Pacific First Mortgage Bonds now re-
alize 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, and by
FISK & HATCH,
Bankers & Dealers in Government Securities.
anu Financial Agents of the C p. R. r. Co.
No. 5 Nassau St., n. Y.
N.B.-All kinds of Government Securities
Bought and Sold; Deposits and Accounts of
Banks, Bankers, and Others received on favor
a 70 nErfn q 40