Year: 1868

DEAR srR:-Thls great enterprise Is approach
ing completion with rapidity chat astonishes
the world Less than 400 miles remain to be
built to connect the Central Pacific Railroad
with the Atlantic lines. The greater part of
the interval is now graded, and 1t Is reasonably
expected that the THROUGH CONNECTION
BETW ZEN SAN FRANCISCO AND NEW
YORK WILL BE COMPLETED BY JULY
NEXT.


The western portion of the Line, known as the
CENTRAL PACIFIC RAILROAD, besides
having the largest settlement, the richest
mines, the most valuable lands along its route
is also built and completed as tirst-class Rail.
road in all respects. being constructed directly
by the Company themselves without the inter-
vention of contractors, and In such manner
as to insure future stability, economy OF opera.
tion, and the permanent value OF the property.


The report of the Special Commission of
Experts, recently appointed by the President to
examine the railroad and telegraph lines of the
Central Pacific Railroad Company, telegraphed
TO the Secretary of the Interior, Dec 3, is full
and specific, and concludes as follows:-


"IIeavy trains of rails, ties, and fuel are run
ming safely to the extreme end OF the road, four
hundred and forty-tive (415) miles from Sacra.
mento TIE road is being constructed in good
faith, in substantial manner, without stint of
labor, material or equipment and is worthy OF
its character as a great national work."


BY the aid OF the General Government, and
valuable grants from California sources, the
Company have already met the bulk of their
expenditures, end have sufficient cash resources
TO enable them to finish their work with the
utmost vigor The iron, and liberal equip
ment for the five hundred miles now about
completed as well the material needful for
two hundred and fifty mile additional, are all
bought, paid for, and at hand for use. The
speedy completion of their entire line, and It's
Success as a grand business enterprise, are no
longer matters Of hopeful promise, but are
placed beyond all ordinary contingencies


The business of the road, although in Its in
fancy only. is without precedent. THE GROSS
EARNINGS FROM JULY TO DEC. l WERE
UPWARD OF 81, 400, 900 IN GOLD, of WHICH
ABOUT ONE MILLION WAS NET PROFIT.
This result was from local commercial business
only, at o time when the Company felt COM
PEELED to employ their available equipment, to
q large extent, in transporting the vast amount
OF supplies required TO subsist twelve thousand
men along line of more than five hundred
miles, and the material required for extending
the track THREE HUNDRED MILES during
the period, to the temporary neglect of tn g
enormous freighting business seeking transit
over the Road.


Al q late date there were no less than seventy.
nine locomotives running on the road, eighty
more on the way, and over twelve hundred
cars, to which the Company are constantly
making large additions, so that by the time the
Immense tide of THROUGH TRAVEL AND
FREIGHT ACROSS THE AMERICAN CON-
TINENT shall be ADDED TO THE NATURAL
AND EXPANDING LOCAL BUSINESS, and
the energies of the Company, with their i'm.
mense facilities, can be devoted to the regular
traffic, THEIR EARNINGS WILL BE ON AN
A u lot
be ranked AMONG THE MOST POPULAR IN
THE WORLD.


The current Interest Liabilities upon the
Bonded Debt, upon an average of three hundred
miles in operation during the above period
were less than $3.50, 600.


The issue of the Company's FIRST MORT
GAGE BONDS is limited by act of Congress
and Will not equal one-t third the cost and value
of the property upon which they constitute the
first lien The greater part of this loan is already
marketed and is held as permanent invest
ment by the capitalists of this country and
Europe We are authorized to offer portion
of the remainder at l03 AND ACCRUED INrE.
REST IN CURRENCY.


The Bonds are of $1,000 each, bear six per cent
Interest per annum, payable in the City OF New
York. IN UNITED STATES GOLD COIN.


AS the accrued interest from July l is charged
to the purchaser tI currency, and the semi
annual coupons maturing January next Will
be paid in full, in gold there is an advantage in
purchasing during the present month equal to
the premium on the back interest.


The Company reserve the right to advance
the price at any time, but all oruers actually in
tranSftu at the time OF any such advance will be
filed at present price. At this time they pay
more than eight per cent upon tie Investment, and
have, from national and State laws. guarantees
superior to any other corporate securities now
offered.


We receive all classes OF Government bonds
at their full market rates, in exchange for the
Central Pacific Railroad Bonds, thus enabling
the holders to realize from to 10 PER CENT.
PROFIT, and keep the principal OF their invest
ments equally secure


Orders and inquiries will receive prompt at
tention. Information, Descriptive Pamphlets,
etc, giving full account of the organization,
Progress, Business, and Prospects of the Enter
prise, furnished on application, Bonds sent by
return express at our cost