The Portland daily press., 1867-09-18
Pacific Rail 'oad
The Western half Of IT, co..
Great National Ti1f !. Line
AcrOss the Contin at,

Being constructed with the AID amt yUPERvIs-
ION OF THE UNITED STATES az GRNMENT,
is destined TO be one of the most iHl tant lines Of
communication in the world, as il j. Inc sole link
between the Pacific Coast and the 81 eat Interior
Basin, over witch the immense oserla ! travel must
pass, and the - ri .Ht.
Principal poYiiOn of the Main ;ten Line
between ihe Two Oeeasis. f.r. ID.
Its line extends from Sacramento, on the tidal
waters OF the Pacific, eastward richest and
most populous parts Of California Nevada and Utah,
contiguous to all the great Mining Regions of the Far
West and will meet and connect with lie roads now
building east of the Rocky Mountains. About 100
miles are now built equipped and in III ming opera
ton to the summit of the Sierra Neva Ia Within a
lew ys35 miles, now graded, will be added and
the track carried entirely the anains to a
point in the Great Salt Lake Valley, whence further
progress will be easy and rapid Iron, materials and
equipment are ready at hand tor 800 miles Of road
and 10 900 are employed In the construction.
The local business upon the completed POI ton
passes all previous estimate. The figures Tor the
quarter ending August 81 are as fllOwsia GOLD:
Gross Operating Net
Earnings, Erpelses, Earnings,
siS5 ,55964 SS6,5iS ~ S1O1 ,O31 ~
| or at the rate Of two ml4Es per annum, Of which
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
portaon, and Is exclusive of he materials carried TOR
| the further extension Of the road. p"
The Company s interest liabilities during the
period were less than $12500 rr
Add TO this an ever-expandng through traffic and
the proportions Ofthe future business become I'M
mense.
The Company are authorized TO continue their line
| eastward until tshan meet and connect with the
roads building east OF the Rocky Mountain ran
ges. Assuming that they will build and control half
the entire distance between San Fraueico and the
Missouri River, "a now seens probable, the United
States will have invested In the completion Of
miles $2S, JO3, 900, or at the average rate Of
S3J 900 per nilc-not including an absolute grant
| OF 10000, 900 acres OF the Public lands By be-
coming joint investor In the magnificent enterprise
aud by waivng its first lien In favor of First Mort
gage B9ndhoders, the General G0vernnent, N eject,
iaptes the cooperation Of prpate capitalists, and
has carefully guarded their interests against all or
| binary contingencies. $50
The Company offer for sale, through us, their
First Mortgage Thirty Year, Six
per Cent. Coupon Bonds,
Principal and Interest payable in Geld
Coin, in New York city. They are In sums OF sl,-
900 each, with semi-aunual gold coupons attached,
and are selling for the present at 9J per cent and
accrued interest from July LIST added in currency, at
which rate they yield nearly
Nine per Gent. mpon ihe Investment.
These Bonds, authorized by act of Congress- are Is
sued only the work progresses and TO the same a.
| mount only as the Bonds granted by the Govern
ment; and represent in all cases, the first lien upon
| a completed, equipped, and productive railroad In
| which have been invested Government subsidies
stock subscriptions, donations surplus earnings, etc.
aud which is worth than three times the amount
Of First Mortgage Bonds which be issued upon t.
The Central Pacific First Mortgage Bonds have all
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 sH.....
| FIRsT-Tbey the superior claim upon altogether
the most vitala valuable portion of the through
| line. .....-. 49,
SECOND Beside the fullest benefit Of the Govern
| meut subsidy, (which is q subordinate lien,) th.
| road reesise. the benefit OF large donations
| from California.
THrRD-Fully half tie whole cost Of gradlng 500
L mil 8 eastward OF San Fran isco is concentrated
| upon the 100 miles about completed.
| FoURTH-A local business already yielding three
old the annual interest liabilities, with advan-
taseous rates payable in coin. ~ Y
FITTH-rhe principal as well as the interest Of its
Bonds being payable In coin, upon legally bind
| ing agreement.
II Having carefully investigated the resources pro-
sress, aud prospects of the road and the manage
ment of the Companys affairs we cordially recon-
mend these Bonds to Trustees Exeen tors Institu-
tons, and others as On eninently sound and reliable
| remaneidt'ce. form o. RcsAl0He5il M SHRent
/ Conversions OF A-e vS.,.....-uf securities