New-York tribune., 1867-08-17
sl- I'D 0l1 bG s1l2.G5l u sl,l58,I

1867. l,5VpWO W OaD'iOV ~ iN''O v
Total. s2,39O9g7 Sc s772,C5 IA sL'587os "A
%i t5@t while e, earnInga are ~ Iheqyy
the interest engagements or the Coih@py @ ut t @ rsna
half per only Of o ota! cost OF construction ana
5ho2d also bo noted that when the California State
line Is reached the road in the vicinity OF he famous
Washoe REGION containing the mOs valuable mines IN
the Welded over twelve inllons OF gold
and silver for eac OF SsgS& sDs & ye9s rcede % s supplies as
well large quantities Of tinDer oyer tns irou do
that It's fortyx companies consume Tor mining anu anu
smelling purposes, timber and lumber valued at one NIL
cIYTgAL PlcIsIC RAILROAD coMPASY's FIRST MORT
GAGE BONDS
According TO the Original Pacific Railroad act the ad
vances Of the 70 the several companies upon
the completed sections OF Their Ines Were made h.st
lien upon the respective roads, equipment. &c. unlef
this pfov son none Of the companies, except the Central
Pacific were able carry forward tho work Of constnc
ton as e9nemPaed ~ became o NJ oycrHSt os
ne i 4est % st al proccai cop1letion Of the great
enterprise The General Government was already Sc
cured the priority OF aeeommoo alton N tho use oI tle
read for the Rd Sc TSaa S5 @a woad S a
10 the public service Congress, In july 1884 amended
Rs po the oaG "a IN q such Claims as p
capitalists and investors might assume. r,o.a
were authorized to issue their First Mots$ge BOhs as
omoBn eF 6e esescdg e amount Of the Bonds the
United states granted e for m th9 s SAM PPS s ;a aR a
s%Sordats 70 hStcf he Bcd Of ne so,d cOgpaae
The & py hs IN s place that Of the
First Mortgage Bondhoders. being satisfied TO look for
~ 6e me osd and small percentage Of tie future trc
extending long series OF years On the conditions
In accordance WITH the provisions Of this amendment
road Gompany are now issuing their FIRST MORTGAGE
| BoSIS having THIRTY YEARS 10 RUN, and DEARIs0
FESe IIeF AF FATasIE I H IN ooS m @ City Of ScEYoi
their railroad the pncBa portion 70 no cd ot ne Main
Pacific Raroad They issued only IN amount equal
20 the Government Bonds issued TO ava the construction
| az tho II
seven miles, and $4,000 per mile upon the remaining dis
e ,sVS S eoSyeSn and oned lie cost and raie oy@s
road aid equipments pedged tor their redemption f1ey
attacecd and are OFFERED FOR THE PREsESr IS PER
CENT or THEIR PAR VALUE, IN CURRENCY, with accrued
| interest from July l, also IN currency
| ADVANTAGES OF THE BONDS.
These First Mortgage Bonds Of the Central Pacific Rail-
road Company tneoLIe ~ c pcS' a and & SpS raSs s1
them FAR superior TO the Bonds OF other railroad
attention OF inyestorsb by tho following important facts
First The First Mortgage Bondhoders are Joint invest
ONLY which places the enterprise beyond the cOntngen
| cies and risks attending railroads In general
SeoOd: They issued only upon completed sections
OF the road, examined and approved by com
ssoners nrstClass railroad, and consequently al
ways represent first claim upon nnshed continuous
| productive property. .. ,,n.soo,.,, ..,.
subordinate to that OF the First Mortgage Bonds there
can hardly arise ~ wnit en- 'e Est SoMny Ok
Iop. a tho National Pacific Railroad route ls des
tined 10 become the great Trunk Line OF the Continent
its business must increase, giving assurances
of the uninterrupted payment Of the interest and ths
fullest security for the principal OF the First Mortgage
FidG Published statistics show that the First Mortgage
Bonds Of leading railroads have for elk years past been
less liable e getns1Ps M % and have mSsaiaed % @ hS s
| and kind OF interest.
srECIAL ASSURANCES OF THE CENTRAL PACIFIC
RAILROAD BONDS. ....
}e dats and snbSes conferred by the Acts Of
Congress upon the several Companies authorized 20 con-
ern forks and has beside the following noticeable ec'u
sire and aagorlaa local adsantlges peculiar 70 ne gess
security and value TO It's First Mortgage Bends; Id
link OF tbs only railroad the Pacc selected and
adopted by Congress TO receive the Bonds OF the Govern
ment well the Public Lands In aid OF its construe
ton. is exempt JfO0 parallel eOnpetNo' as 1t com
mands the natural accessible gatewS between san Fran
trac which is distributed among the various brunch
roads building and projected east OF the Rocky Noun
H. The most dnlcult costly portion its read Is
tS clyse is pceail oreTcosae The line is being regu
larry and easily worked TO the summit OF the sierra Ne
10 the Truckee River tho remainder OF the con.
sructon will be easy Inexpensive and rapid to"au ess
Ill The Company has received from tho State and
and Vgiq6e property ror oCeOOO IN gold and il
viii have nr;. me ~ the T26 miles
| between sscramento aud salt Lake City, more than
sS5OOOOO in the of the United States; or at the
| rate OF over $4,000 per mile. . .,, :,
" The road enjoys already an immense exclusive To-
ea trade between sacramento and the richest portions OF
Eastern California; Nevada, Idaho, and Utah. sufficient
Independently Of he through heGie, which cannot be d.
| yerten or withheld from lt lH. ~"
" The road lies wholly In territory yielding the pre-.
metals its revenues are collected in com, and 10
business conducted on specie bd It's rates Tor trans
portaon are very advantageous, being than three
times those OF roads lying east OF ~ aud the rG0 OF op-
Grating expenses Is Tess than 20 Pe'' eH Me 9roSS ear"
vi In consequence Of the aid receives from the Gen.
era Government from the State OF California; aud from
municipal corporations the annual Interest obgatons
which the Company are called upon 10 assume are very
| Hgn hR ngl "A
nes, in 1866, We're nearly ree times te amount of an
nud interest liabilities 10 Dc dSSoRed ht budding u. dnd
trere s2s5O0o than Ae annual interest hS entire
amount Of First Mortgage Bonds Fhieh NE Company
VII By the terms Of an Act Of Congress- the Pacific
Railroad Companies authorized 10 make the interest
elect The Central Pacific Company have bound them
selves pay the principal and interest OF their Bonds In
Is made under the provisions OF Mort executed and
recorded by them IN the state Of California, wherein spe-
Legislature has passed special enactment recognizing
authorizing Gad eyoreing contracts rhicA hs pdyps
Is oppressed 6a gold The Companys agreement 10 pay
the PRINCIPAL AND INTEREST OF these Bonds IN coin Is
therefore legally biHdR0 unlike similar agreements made
by companies IN States where 40 such Legislative shc
In these important particulars the securities OF the
Central Pacific Company possess advantages over those
OF other yanages not possessed by other
railroad bonds; and they Offer grcsser degree safs
stability. and proFi combined, hal dy others offered
The First Mortgage Bonds OF this Company are destined
TO occupy prominent place among First Glass Securities
In the money markets OF tins country and Europe and
WILL without doubt, be eagerly sought for and xiousy
price ut which they are offered by the Company.
Having been forsome time familiar with the operations
OF the Central Pacific Railroad Company satisfied
that they conducted with ability prudence,
and that the-energetic aud economical Of
the C9npanys affairs ente them To the confidence Of
gated the progress resources and prospects OF the Road
and have the fullest confidence IT'S success and In the
tenon OF trustees of estates institutions, and individuals