The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1867-09-30

10 uesiheu 10 De one or the most in 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 Line
between the Two Oceans.
Its line extends from Sacramento, on 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
building east of the Rocky Mountains. About 100
miles are now built, equipped and in running opera
ton to the summit CT the Sierra Nevada. Within
Jew s35 miles, graded, will be added, and
the track carried entirely the mountains to
point in the Great Salt Lake Valley whence further
progress win 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 for the
quarter ending August 81 arc as followsi in GOLD:
Gross Operating Net
Earnings, Expenses, Earnings,
S4S5 ,57964 $S6,54S ~ S4Ol, O31 ~
or at the rate OF two millions per annum, of which
more than hreeiourths net profit Oh less than 100
mil S 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
portation and is exclusive of the materials carried Tor
the further extension of the road.
The Company's interest liabilities during the same
period were less than $685. 900.
Add to this an ever-expanding through traffic and
the proportions ofthe future business become I'M
mense.
The Company are authorized to continue their line
eastward until it shall meet and connect with the
dc lutll
ges. Assuming that they win build and control halt
the entire distance between San Francisco and the
Missouri River as now seems probable, the United
States will have invested in the completion of 5
miles SOS ,J93 900, or at the average rate of
$35 900 per mi'c-not including an absolute grant
Of nc, 700 900 acres of the Public lands. BY be-
coming jc Mt nves tor in the magnificent enterprise
and by waiying its first lien in favor of First Mort
gage Bondholders, the General Government a, effect,
incites Me 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 md Interest payable in Gold
Coin, in New York city. They are in sums OF ST.
600 each, with sem-aunual gold coupons ttached
and are selling for the present at pa per cent. and
accrued interest from July LIST added currency at
which rate they yield nearly
Mine per Gent. upon the Hnvesisient.
These Bonds, authorizsdby act of Congress, are is
sued only as The work progresses and TO the same a.
mount only the Bonds granted by the Govern
mert; and represent, in all cases, the frstie upon
acompeted, equipped, and productive railroad, in
which have been invested Government subsidies,
stock subscriptions donations surplus earnings, etc.,
and which is worth than three times the amount
of First Mortgage Bonds which can be issued upon it,
The Central Pacific First Mortgage Bonds have all
the assurances, sanctions and guarantees of the Pa
cific railroad Act OF Congress, and have in addition
several noticeable advantages all other classes
OF railroad bonds.
FIRsT-They are the superior claim upon altogether
the most vital and valuable portion of The through
line.
SECOND Beside the fullest benefit of the Govern
ment subsidy, (Which is subordinate lien,) th, :
road receives the benefit OF large donations
from California
THIRD-Fully half the whole cost oil grading 500
mil eastward OF San Fan isco is concentrated
upon the $50 miles now about completed.
FoURTH-A local business already yielding three
old the annual interest liabilities, with advan-
tageous rates payable in coin.
FIFTH-The principal well as the interest OF its
Bonds being payable in coin upon legally bind
ing agreement.
Having carefully investigated the resources, pro-
gress, and prospects Of the road, and the manage
ment of the COmpanys affairs, cordially recon-
mend these Bonds to Trustaas. Executors Institu-
tons, and Others emnsntly sound and reliable
remanerdttce form o. besaattatent Investment
Conversions of Governments Securities
INTO