The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1867-08-22
o, CENTRAL
Pacific Railroad
The Western half of the
Great National T31tnE Line
Across the Continent,

Being constructed with the AID and SUPERVIS-
ION OF THE UNlTEDSTATES GOVERNMENT,
is destined to be Of tine most In portant and val
liable Railroads In the wor 1t is the sole link Of
communication between the Pacific Coast and the
Great Interior Basin, and the
Principal portion Of the Main Stem Line
between the Two Oceans.
The present western terminus Is at Sacramento, on
the navigable waters OF the Pacific; but IL will ult-
mately extend from San Francisco across the richest
and most p1pulous parts OF California Nevada and
Utah, contiguous to all the great Mining Regions Of
the Far West. The company are author zed to con-
tinue their line eastward until II shall meet and con-
meet with the roa Is now building east of the Rocky
Noun ain ranges.
Assuming that they will build and control half the
entire distance between San Francisco and the Mis-
souri, River, probable, the United States
will have invested in the completion Of s65 miles
S9s, 500 600, or at the average rate of SIS 900
per mile-not including an absolute grant Of 10,
900 900, acres Of the Public Lands. BY becoming
Joint investor in the ynifcen enterprise and by
waisng Its first lien In Of the First Mortgage
Dondholders. THE GENERAL GOVERNMENT, IN Ry-
FEET, INVITES THE co-oPERArIoN OF PRIvArE
CAPITALISTS, and has carefully guarded their inter-
esis against all ordinary contingencies.
The Central Pacific Railroad enjoys all tho privi-
leges, grants and subsidies conferred BY the Acts OF
Congress upon the other part ofthe through line and
has, In addition, several special, exeIz.ive ad-
vsnfages applicable only to the Western Half
1. The Company has received from the State and
chief elite OF California, assistance In money,
credit and valuable property worth over 81. 600
ye0 In gold, in addition to the full benefit Of the
Government subsidy.
ii. The hardest and costiest part of its
has been successfully overcome within the Arst
$50 miles In few weeks the track will be com
Pleted entirely across the Sierra Neyadas amer
rapid.
LII. The local business alone Of this road establishes
It's complete financial success, independently Of
the vast through trafic which must pass over Il.
yhe gross earnings for the months OF June and
July, upon the 81 miles then open for business
were upward Of S2g7, 900 In gold, Of which four
htths were net earnings.
Nv. 1t can have competition but will carry be-
side its own lucrative local trac the schoIe voI-
unae Of Through business which IL shared among
It's Eastern connections and their branches.
V. The road lies wholly in territory yielding the
precious metals, and its revenues are collect
ed In COIN. Its rates for transportation are very
advantageous, being more than three times those
ofroads lying east Of IL; and the ratio of operat-
ing expenses Is less than rs per cent. the gross
earnings.
W. In consequence OF the aid it receives from the
General Government from the State of Califor-
ma and from municipal corporations, the annu-
- al interest obligations which the Company are
called upon to assume very light. The net
earnings upon an average Of about 10 miles, I'm
l66, were nearly three times the amount OF an
nuD interest liabilities 10 be assumed IN building
IL, and toere $235 900 more than the annual inter
eston the entire amount Of First Mortgage Bonds
1h,ch me Company can issue upon the first $50
miles. u ralt-