Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1867-08-29
THE CENTRAL PACIFIC RAIL
ROAD

The Western half OF the Great National
Trunk Line across the Continent, being con.
structed with the aid and supervision Of the
United States Government, is destined to be
one OF the most important and valuable Rail.
roads In the world as II is the sole link of com.
munication 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 teaminus is at Sacra-
mento, on the navlgable waters OF the Pacific;
but II will ultimately extend from San Fran
cisco across the richest and most populous
parts OF California, Nevada, and Utah. contigu-
West. The Company are authorized TO con.
tinue their line eastward until II shall meet and
connect with the roads now building east Of
the Rocky Mountain ranges.
Assuming that they will build and contrel
half the entire distance between San Francisco
and the Missouri River, as now seems probable,
the United States will have invested in the
completion OF s65 miles 81, 900, or at the
an absolute grant OF II, 900 acres of the Pub.
lie Lands. BY becoming joint investor in the
magnificent enterprise, and by waving its first
, lien in favor Of the First Mortgage Bondhoders,
{, the General Government, In effect, invites the
| cooperation Of private capitalists, and has
carefully guarded their interests against all or
| binary contingencies.
| The Central Pacific Railroad enjoys all the
the Acts Of Congress upon the other parts Of
through line and has, in addition, several spec
| Western Half.
/. The Company has received from the State
| and chief cities of California, assistance In
money, credit, and valuable property, worth
over $3,00O,00O in gold, in addition 10 the full
benefit of the Government subsidy.
| .. The hardest and costliest part of its con-
| struction has been successfully overcome with
i in the first $50 miles. In few weeks the track
| will be completed entirely across the Sierra
| Neyadas, after which progress to Salt Lake will
| be easy and rapid.
tablishes its complete financial success, inde-
| pendently of the vast through traffic which
must pass over it. The gross earnings for the
months of June and July, upon the "a miles
| then open for business, were upward Of $780,
! 900 in gold of which four-ftths were net earn
| ings.
4. 1t can have no competition, but will carry,
beside its own lucrative local traffic, the whole
| volume of through business which il shared
| among its Eastern connections and their
| branches.
5. The road lies wholly in territory yielding
| the precious metals, and its revenues are col.
| lected in coin. Its rates for transportation are
very advantageous, being more than three times
those of roads lying east of it; and the ratio OF
operating expenses is LEES than % per cent. OF
the gross earnings. ..
6. In consequt nee of the aid it receives from
the General Government, from the STATE OF
California, and from municipal corporations,
the annual interest obligations which the Com.
pany are called upon to assume are very light
The net earnings upon an average OF about 70
miles, in 1866, were nearly three times the
amount of annual interest liabilities to be as
sumed in balding it, and were Ss35, 900 more
than the annual interest on the entire amount
of First Mortgage Bonds which the Company
can Issue upon the first $50 miles.
| The Company offer for sale, through us, their
First Mortgage Thirty Year, Six per Cent Cou
pom Bonds, Principal and Interest payable IL
Gold Coin, in New York city. They are il
lfN ct nnnh xFfth aar4aIu T,t1nI r
coupons attached, and are selling for the pres
ent at IS per cent. and accrued interest iron
July LIST added, in currency, at which rate they
yield nearly
These Bonds, authorized by Act OF Congress
are issued only as the work progresses, and II
the same amount only as the Bonds granted b!
the Government; and represent, in all cases
the first lien upon a completed, equipped, ant
productive railroad, in which have been invest
ed Government subsidies, stock subscriptions
| donations, surplus earnings, ETC., and which Ii
worth more than three times the amount o
First Mortgage Bonds which can be ISSUED
| upon it.
The agreement of this Company to pay prin
cipsl and interest of their Bonds in coin, beiHl
made under the Specie Contract Law of Cali
fornia, authorizing and enforcing contracts u
pay gold, is legally binding, unlike slmlla
agreements made by companies in States wher
no such legislative sanction exists.
In these important particulars the Securtie
| OF the central racine Company Oner an unusua
degree of safety, stability and profit combined
The First Mortgage Bonds of this Compan.
are destined to occupy prominent plac
among frstclass securities in the money mar
kets of this country and Europe, AID will, with
out doubt, be eagerly sought for, and anxiousl,
dealt in hereafter, at rates materially in ad
vance Of the price at which they are now OF
fered. ##s
Having care fully investigated the resources
| progress, and prospects of the road, and tn
management Of the Company's affairs, we cor
daily recommend these Bonds to Trustees, Ex
ecutors, Institutions, and others as an emf
nently sound, reliable and remuneratiye form
of permanent investment.
| Conversions of Government Securities init
Central Pacific First Mortgage Bonds now re
alize for the holders about Twelve per cent
advantage, with the same rate of Interest
For sale by Banks and Bankers generally, o
whom descriptive Pamphlets and Maps can b
obtained, and by
FISK 8 HATCH,
Bankers s. Dealers in Government Securities
and Financial Agents of the G. p. r. r. Co.,
No. 5 Nassau St., N. Y.
N. BAH kinds of Government Securitie
Bought and Sold Deposits and Accounts c
Banks, Bankers, and Others received on favor
able terms aug19d&w3m