The Portland daily press., 1867-10-24
MISCELLANEOUS.

CENTRA AL
Pacific Railroad
The Western half Of the
Great Natto,sa, Is.wnH Lime
across the Continent.
Eeing constructed with the AID and sr,yrpvrs
ION OF THE UNlTRpsTATEs ooyrnNSxrNT
Is desfined to be Of the most I'm portant nn.s -
communication 10 the world, as Il IL thu ao,s lipt
oetween the Pacific Coast and the Great fntsr,o,
basn over WEI ieh the immense overland travel unst
pass, and tbs -''
principal portion Of the Main stem Line
between the Two Oceans.
its line extends from Sacramento. on the tidal
wa'ers OF the facic eastward the richest and
most popuous parts OF California, Nevada and Utah
contiguous TO all the great Mining Regions Of the Far
"es'' anu VIII meet and connect with he roads now
building east OF the Rocky Mountains. About 100
miles are now built equipped and in running opera
tion to the summit of the Sierra Nevada. within a
-DSS, NJ" Skducu, VIII De aQOeQ, 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 800 miles of road
and 10000 men are 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 Net
EQTHinOe. Eo.noa
S4S5 ,5s9 64 $50, ,54s a. s4o1 .oaI ~
or at the rate of two millions per annum. of which
more than threetourths net profit on less than 100
mil $ worked. This is upon The actual. Legitimate
rahc ofthe road. with its terminus in the mountains
and with only the normal ratio Of government trans
portaton, ands exclusive of the carried N,
the further extension of the road
The Companv's interest liabilities during the same
period were less than $125.OO0
Add TO this an ever-expanding through traffic and
the proportions oftbe future business become I'm.
mense.
The Company are authorized to continue their line
eastward until it shall meet and connect with the
roads now building east OF the Rocky Mountain ran
ges Assuming that they will build and control hal
the entire distance between San Francisco and thu
missouri River, as now seems probable, the United
States will have invested in the completion of q
miles $2S ,593 900, or at the average rate o
*3J 200 per milc-not including an absolute gran
of1O,OOO, 900 acres of the Public lands. By be
coming ajc mt investor in the magnificent enterpris
and by waving Its first lien in favor of First Mort
gage Bondholders the General Government, in effect
'nrsfes the cooperation Of private capitalists an,
has carefully guarded their interests against all or
| dinary contingencies.
The Company offer for sale, through us, their
First Mortgage Thirty Year, 81,
per Cent. Coupon Bonds,
Principal and Interest payable in Cell
Coin, in New York city. They are in sums Of 81,
ooO each, with semi-annual gold coupons attached
and are selling for the present % per cent ant
accrued interest from July 1st added in currency,
which rate they yield nearly
Nine per Gent. upon she Investment.
These Bonds, authorized by act 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 first lie upol
acompieted, equipped, and productive railroad h
which have been invested Government subsidies
STOCK subscriptions, donations surplus earnings etc
anh winch Is worth more than three times the amour
OF FIRST Mortgage Bonds which can be issued upon il
The Central Pacific First Mortgage Bonds have al
ene assurances sanctions and guarantees of the Pa
| aQ0ltlOl
several noticeable advantages over All other cIasse
| of railroad bonds.
FIRsT-Tbey are the superior claim upon altogethe
line. = ~ -s'
| SECOND Beside the fullest benefit of the Govern
ment subsidy, (which is subordinate lien,) III
from California.
| THIRD-Fully half the whole cost Of grading so
mil s eastward OF San Fran ,isco is Concentrate
upon the l5o miles now about completed.
FoURTH-A local business already yielding three
tageons rates payable in eoin N
FIFTH-The principal as well as the interest of n
| BONDS being payable in coin, upon 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 recon-
mend these Bonds to Trustees, Executors, Institu
los, anu otlers as ar enlineny SOMA, and reiidot
remanerdtsUe form Of permanent Investment.
| CONVERSIONS of GOvernment Securities