The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1867-11-06
MISCELLANEOUS.

CENTRAL
Pacific Railroad
The Western half of the
Great Rational T3.as,sE Lime
1cr0ss the Continent,
Being constructed with the AID and SUPERVIS-
ION OF THE UNITED STATES GOvERNMENT,
is destined 10 be one of the most i'm portant lines of
communication in the world, as it is the sole link
between the Pacific Coast and the Great Interior
Basin, over which the immense overland travel must
pass, and the
Principal portion Of the Main stem 4 inc
tG between the Two Oceans.
Its line extends from Sacramento. Oh the tidal
waters OF the Pacific, eastward across the richest and
most popuous 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 now
building east OF the Rocky Mountains. About 100
miles are now built equipped and h, running opera
ton to the summit OF the Sierra Nevada Within a
lew VS. 30 miles, graded, will be added and
the track carried entirely across the mountains TO
point in the Great Salt Lake Valley whence further
progress VIII be easy and rapid Iron materials and
equipment are ready at hand for 300 miles of road
and 10000 men are employed in the construction
Ihe local business upon the completed portion sur
passes an previous estimate. The figures Tor the
erending August 81 are as follows in GOLD:
cross ss Operating Net
Earnings, Expenses, Eo,ninos
S4S5 ,579 "a $sG,54S4 ~ s4Ol,O31
or at the rate OF two millions per annum of which
more than threeourths net profit on less than 100
/ mil worked. This is upon the actual. legitimate
traffic ofthe road. with its terminus in the mountains
and with only the normal ratio of government trans
portaton and is exclusive of the materials carried for
the further extension of the road
The Companys interest liabilities during the same
period were less than $125OOO
Add to this an ever-expanding through traffic and
the proportions oftbe future business become In
| mense.
The Company are authorized to continue their line
eastward until itshan meet and connect with the
roads now building east OF the Rocky Mountain ran
ges Assuming that they will build and control hall
the entire distance between San Francisco and the
missouri River, as now seems probable the United
states VIII have invested In the completion of d r
miles S2S 500 900, OF at the average RATE NJ
$35 900 per milc-not including an absolute grant
OF 1O,OOO,OOO acres OF the Public lands Ry be-
coming ajc mt investor in the magnificent enterprise
and by waving its first lien in favor OF First Mort
gage Bondhoders, the General Government n. effect.
sarsfes 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 in Gold
Coin, in New York city. They are in sums of 81 :
600 each, with semi-annual gold coupons attached.
and are selling for the present 05 per cent and
accrued interest from July LIST added in currency at
which rate they yield nearly #
Nine per Gent. upon she Investment,
These Bonds, authorized by of Congress- are is
sued only as the work progresses and to the same
mount Only as the Bonds granted by the Govern
ment; and represent, in all cases, the frstie upon
acompieted, equipped, and productive railroad in
which have been invested Government subsidies
stocA SUBSCRIPTIONS, donations surplus earnings, etc.
and which Is worth more than hree times the amount
OF First Mortgage Bonds which can be issued upon it
,The Central Pacific First Mortgage Bonds have all
tne assurances sanctions and guarantees of the Pa
cifc Railroad Act OF Congress- ana have in addition
several noticeable advantages over all other CLASSES
of railroad bonds.
FIRsT-Tbey the superior claim upon altogether
4 the most vital and valuable portion ofthe through
SECOND Beside the fullest benefit of the Cavern
ment subsid (Which is subordinate lien tn
~ road receives the benefit OF large donations
from California. AZ
THIRD-Fully half the whole .cost nj oro,;n, eoo
/ mil eastward OF San f. an isco is concentrated
upon the 100 miles now about completed.
FoURTH-A local business already Welding three.
old The annual interest liabilities, with adyan
tageous rates payable in coin.
FIFTH-The principal as we'll as the interest of its
Bonds being payable in coin, upon a legally bind
Having carefully investigated the resources, pro-
gress and prospects of the road, and the MANAGE
ment OF the Company's affairs, we cordially rec,in-
mend these Bonds to Trustees, Executors Institu-
lions, and others as enlneutly soand and reliuote
TeManefdtloe FORM Of permanent Investment.
Conversions Of Government Securities