The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1867-10-12
MISCELLANEOUS.

CENTRAL
Pacific Railroad
The Western half of the Il
Great National Trunk lime
3 4Acress the Continent, / |
Being constructed with the AID and SUpERyIS
ION OF THE UNlTEDs STATES GOVERNMENT.
Is destined to be of the most important lines of
in the world, as it is the sole link
between the Pacific Coast and the Great Interior
basn over which the immense overland travel must
hncspai portion of the Main Stem Line
Sbetween the Two Oceans.
Its line extends from Sacramento, on the tidal
waters of the Pacific eastward across the richest and
most populous parts of California Nevada and Utah
contiguous to all the great Mining Regions ofthe 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 in running opera
ton to the summit of the Sierra Nevada Within a
lew days 80 miles, now graded, win be added and
the track carried entirely the mountains to
point in the Great Salt Lake Valley, whence turther
progress will be easy and rapid. Iron, materials and
equipment are ready at hand tor 800 miles OF road
and 10, 900 men are employed in the construction
The local business upon the completed portion sur
passes all zprsvious estimate. The figures Tor the
quarter ending August 81 are follows in GOLD: 2
Gross Operating Net
Earnings, Expenses, Earnings
$4s1,570 GA $50, S4S a. s4Ol ,O31 ~
at the rate of two millions per annum. of which
more than three ourths net profit on less than 100
mil worked. This is upon The actual, legitimate
traffic Of the road. with its terminus in the mountains
and with only the normal ratio OF government trans
portao and exclusive of the materials carried Tor
the further extension Of the road. bsd- Bass
The CompaHy's interest liabilities during the same
period were less than $125O
Add to this an ever-expanding through traffic and
the proportions ofthe future business become I'm
mense.ia IN NM a W NAfE&fH
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 hall
the entire distance between San Francisco and the
Missouri River, as, now seems probable, the United
States will have invested In the completion of d
miles $9S, 49,, 900, or at the average rate Of
S35 600 per mile-not including an absolute grant
Of O,OOO, 900 acres of the Public lands. BY be-
coming ajcnt investor in the magnificent enterprise
and by waving its first lien in favor OF First Mort
gage Bondhoders, the General Government IN eject
nrites the cooperation Of pricats capitalists, and
has carefully guarded their interests against all
binary contingencies.
The Company offer for sale, through US, their
First Mortgage Thirty Year. Six
ssa per Cent. Coupon Bonds,
Principal and Interest payable i'm Geld
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 at 95 per cent. and
accrued interest from July LIST added in currency al
which rate they yield nearly uA
Nine per Gent. upon the Invessmeni.
These Bonds, authorized by act Of Congress- are is
sued only as the work progresses, and to the
mount only the Bonds granted by the Govern
ment; and represent, in all cases. the 6rstHe upon
completed, equipped, and productive railroad, il
which have been invested Government subsidies
stock subscriptions, donations surplus earnings etc.
and which isworth more than three times the amour
OF First Mortgage Bonds which be issued upon it
| The Central Pacific First Mortgage Bonds have al
the assurances sanctions and guarantees of the Pa
cifc Railroad Act of Congress, and have in addition
several noticeable advantages over all other classes
Of railroad bonds.
FIRsT-They are the superior claim upon altogether
line. =
SECOND Beside the fullest benefit of the Govern
ment subsidy, (which is a subordinate lien, III.
road receives the benefit OF large donation.
from California.
THTRD-Fully half the whole cost Of grading so,
d miles eastward OF San Francisco is concentfates
upon the 100 miles now about completed.
FOURTH-A local business already Welding three
loid the annual interest liabilities, with advan