The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1867-10-05
NllsCELLANE OtJs.

Being constructed with the AID and SUPERvIS-
ION OF THE UNITED STATES GOVERNMENT,
is destined to be of the most important lines OF
communication in the world, as it is the sole link
between the Pacific Coast and the Great Interior
Basin over WI ich 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 populous parts of California Nevada and Utah.
contiguous to all the great Mining Regions of the Far
West and will meet and connect with he 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 ys35 miles, now 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 are 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 Tor the
quarter ending August 81 are as fellows in GOLD:
Gross Operating Net
Earnings, Expenses, Earnings,
$4S7. 55964 SS6,5fS S4Ol ,O3i ~
or at the rate of two millions per annum, of which
more than three ourths net profit On 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
portaon and exclusive of the materials carried Tor
the further extension of the road
The Company's interest liabilities during the same
period were less than S12I 900.
Add to this an ever-expanding through traffic and
the proportions OF he future business become In
mense.
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 half
the entire distance between San Franci co and the
Missouri River, as now seems probable, the United
States will have invested in the completion of
miles S2S ,591 900, or at the average rate of
S35 200 per milc-not including an absolute grant
of II, 900 900 acres OF the Public lands. BY be-
coming JIG mt investor in the magnificent enterprise
and by waving its first lien in favor of First Mort
gage Bondholders, the General Government in effect
imcites the cooperation Of private capitalists and
has carefully guarded their interests against all
binary contingencies.
The Company offer for sale through us, their
First Mortgage Thirty Year, Six
Principal and Interest payable i'm Gold
Coin, in New York city. They are in sums of 81
900 each, with semi-annual gold coupons attached,
and selling for the present at 95 per cent and
accrued interest from July LIST added in currency at
which rate they yield nearly
Nine per Gent. upon the Investment.
These Bonds, authorized by act of Congress, are is
sued only the work progresses and The same a.
mount Only the Bonds granted by the Govern.
ment; and represent in all cases, the first lie upof.
a completed, equipped, and productive railroad in
which have been invested Government subsidies,
stock subscriptions, donations. surplus earnings etc.
and which sworth more 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
ciic 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
the most vital and valuable portion of the through
line.
SECOND Beside the fullest benefit of the Govern
ment subsidy, (Which is a subordinate lien,) tn.
road receives the benefit OF large donations
from California.
THIRD-Fully half the whole cost Of grading 500
mil eastward OF San Francisco 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 as well the in crest 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 we cordially recon-
mend these Bonds to Trustees Executors, Iustitu-
ti0ns, and others eminently sound and reliable
renaanerdftoe form Of permanent Investment.