The Placer herald., 1868-02-01
ACROSS THE SIERRA NEVADAS.
THE CENTRAL PACIFIC RAILROAD

The Western half Of the Great National Trunk
Liuc across the continent, being constructed with
The aid and supervision OF the United States Gov.
erument. ia destined to be one Of the most i'm
portant lines of communication in the world, as
Il is the sole link between the Pacific coast and
the great interior basin, over which the immense
overland travel must pass, and the principal por-
tiou Of the main stem line between the two
Oceans.
I,s lioe extends from Sacramento, on the tide
~9sys Il the Pacific, eastward across the richest
ana mcsA populous parts Of California, Nevada
aud Utah, contiguous 10 all the Great Mining Re-
sious of the Far West, and will meet and con-
meet with The roads now building cast OF the
Rocky Mountains. Abo ut 100 miles are now
built, equipped and in running operation to the
summit OF the Sierra NevadAs. Within few
days IS miles, now graded, will be added. and
the track carried entirely across the mountains to
point in the Great Salt Lake Valley, whence
further progress will he easy and rapid. Iron,
materials aud equipment are ready at band for
800 miles Of road and 10, 900 men arc employed
10 The construction.
The local business npon the completed portion
mrpasses all previous estimate. The figures for
The quarter ending August Slst are as follows,
ia gold:
Gross Operating Net
..ss Mning:' Expense Earnings;
Or at the rate Of two millions per annum, OF
which more than three.fourths are net profits ON
sthau 100 miles OF road worked. This is upon
the actual. legitimate traffic Of the road, with
Its terminus in the mountains, and with only the
normal rate OF Government transportation, and
10 exclusive Of the materials carried for the fur
ther extension Of the road.
The company's interest liabilities during the
anne period were less than $l25,O00.
Add to this an ever. expanding throug gh traffic
and The proportions Of the future business be-
come Immense.
The company are authorized TO continue their
llne saetwatd uutl II shall meet and connect with
the roads now building east OF the Rocky Noun.
TAIN ranges. Assuming that they will build aud
control half the entire distance between SIN
francisco and the Missouri river rs now seems
ptpkiblc, the United States will have invested In
me completion of 865 miles s2S,592 900, or ut
;ne average rate Of $685. 900 per mile-no includ.
ing the absolute grant OF 100000 acres OF the
pebec lands. By becoming q joint investcr In
sne magnificent enterprise, and by waiving It's
nnt lieu Ia favor OF the First Mortgage Bond.
holders, the General Government, in effect In.
ses the cooperation OF private capitalists. and
haa carefully guarded their interests against
d' culinary contingencies.
The company offer for sale, through us, their
MfAtkr
bonds, principal and interest payable in gold
co'a: IN New York city. They are in sums Of
Sl'eoo each, with semi-annual gold coupons at
sacnec and are selling for the present at IS per
GENT. and accrued interest from July LIST added,
~ currency, ut which rate they yield nearly nine
peF cent upon The investment.
These bonds authorized by act Of Congress,
ss ass ,ssaed only a. the work progresses. and 70
snc government and represent, In all cases, tRs
5aa 1 nen upon the completed, equipped and pro-.
SHtcuye Railroad, In which have been invested
suserament subsidies, stock subscriptions. don'!'
ah surplus earnings, etc, and which is worth
Mose tnan three times the amount OF first mort
sased oonds which can be issued upon it.
Ihe Central Pacific First Mortgage Bonds have
N. ~e H Assurances, sspctiods and guarantees oi
tse racinc Railroad Act of Congress, and haye
:" s, auultton several noticeable advantages over oil
s'nsf classes Of railroad bonds.
a~-Ihey are the superior claim upon alto
sctnef The most vital and valuable portion
NJ q tho thFough line,
poo Besides the fullest henett Of tho Gov
;sse Sae@emt subsidy, (which IL subordinate
ssa nsa.llle rpad receives the benefit Of large
9eeae!oop itom Csltgoeuja,