The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-10-19
Central Pacific Railroad First
Mortgage Bonds.

It is commonly known that the General Gov.
| ernmsut for wise purposes, has given tts aid
and encouragement % the construction OF one
| MAIN THROUGH LINZ OF RAILROAD from the Pa
cihc Ocean across the Territories 10 connect
with the various Eastern branshes Of the Pa
cine Railroad system, and which will form the
GRAND TRUNK ROUTE 70 the Far West,
upon which the mighty trans-cOntinental traffic
| will concentrate.
The CENTRAL PACIFIC RAILROAD
| COMPANY-who are carrying IL forward with
greater energy and persistence than was eycr
shown In any slV,ilar work in ancient OF modera
| ttmes-will bui,u, equip own and contrel the
| Western Half Of this Through Line the mort
productive, favored, and valuable portion ofthe
whole, and may Justly be regarded as possessing
the richest franchise sver granted on this cont.
nent
The Act Of Congress confers upon the Corpo-
rations, besides the right Of way across the Ter
ritores gift Of II, 800 acres OF ne public lands
per mile contiguous 10 this line, and an Appro-
| priation from the National credit Of SIrrS MI
| LIONS in PER sRST. BONDS, delivered ~ the
| work progresses; half the estimated cost Of
| the Through Line and Branches. Thess Sab
| sidy bonds the company may cancel in course
| Of years by the Transportation servioes Of Me
Roads, and small per csntage Of their nei earn.
|
great strength 10 the corporations.
The Act further authorizes them 10 issus an
equal amount Of their own First Mortgage
Bonds of corresponding denominations trhicA
shall BE- the first claim upon the trhOLs railroad prop
erty aud 20 lchieh the len Of the Government sAdx
BE- subordinate, rs q means Of more readily secur
ing the remaining half Of the capital FOR the con.
structon; the equipments, 80, being provided
out Of the capital stock subscriptions and other
sources.
The great CENTRAL Pacific RAuRoAD IA there
| fore in important sense, . SEN- NATIONAL
| WORK aided and commended by the people the
| Legislative power and the Executive officers
| though its management II administered pth al
the care and IorethOugh II the most emiHen prpdts
| corporations. Being under the constant snper
| vaion of the GOvernment-who, being the pnn'
| cipal creditor, accepts subordinate and contin.
gent lien-wth no large an amount OF addition,
al capital also invested in the property pledged,
IL II believed that no securities now offered In
| the market possess the sane claims 10 oonh.
dence and market vElue, except those of the
| Government.
Under these favuring auspices very gratifying
progress has been made In extending the railroad
track from both directions. Nearly 1000 milcs
of the Main Line and cenyergtng branches 10
tween the Missouri River and tho base OF the
Rocky Mountains have been built within three
years. The CENTRAL PACIFIC RAILBoAD has
also steadily and successfully carried the Main
Stem Line from the steamboat navigation Of the
Pacific 10 tho summit Of the Sierra Nevads, and
into the Great Salt Lake Basin east OF tho Call.
fornia line Having overcome by far the most
difficult and expensive portion OF the whole
line, the probabilities Of the through connection
with the Eastern lines being effected In 1910
amount almost TO certainty.
The prominent feature In the progress Of ths
CESTRAL Pa IPIc RAILROAD IL tho remarkably
large and profitable Local Business which IL de-
veloped upon the completed portion, more than
iustifying the estimates Of ia pIojeotors-thst
, the immense traffic between the ports Of Cali
) fornia and the mining regions Of the init or
would sustain hrst-class railroad line, even II
the overland connections were not built. The
net profit upon operating the link Of less than
one hundred miles, thus far, reashes nearly two
millions In god and this ratio viii he doubled
during the coming season, whom tho ontire
mountain transit Ia made by the locomotive.
| With every extension of tho track, the business
and profits Of the completed part are incrcasedi
| 40 that when the overland through traffic shall
be centered upon the CENTRAL ROAD the gen.
eral prosperity Of thu company will DO without
parallel and it, securities appreciated cores
pondngly Tho CENTRAL PACIFIC RAILRsAD
| COMPANY offer for sale theirFIFSST MORTGAGE
! THIRTY.YEAR SIX PER CENT. GOLD
BONDS, and submit 10 Investors TIE
| following, among other obvious cOnslders-
tions; and invite the comparison with the merits
and eIcellencios Of any class OF Corporate go
surties:
T. These Bonds are based upsn tho most vital
and valuable part Of the Grand National Pacific
| Railroad. soon to become the main channel Of
| communication on the continent
| IL The local settlement and business there
from Ia remarkably large and profitable, and
must constantly increase.
III. The hardest part Of the road IL now
built and the remainder will be rapidly carried
forward ever the Salt Lake Plains.
" The greatest part Of the means necessary
10 build the road Ia provided by the Z. ), Gov
eminent upon subordinate lien.
V. Tho State and chief cities Of California
have contributed upward Of tJ.00oOO0 10 the
enterprise without lien.
VI The grant Of land IL destined at an early
the total Of the first mortgage bonds iSsued
upon the road and equipments.
VII. This road lies altogether among the gold
and ilyer-producing regions, and ia revenues
are received In coin.
Wiz The management Of tbb company has
born in the highest degree prudent and frugal.
! and the whole surplus after payment Of expense
and interest, 10 devoted 70 construction Durps
SEES
TX The interest liabilities Of the company
are even now les than = third the net ear1inEs
upon the road pledged
X. Both Principal and Tnt<rea are pdyabk b
GoId under special provisions Of both SationsI
and State enactment.
The bonds are in sums Of 1900 each, with
semi gold coupons attached, and are Of
fered for sale at o. per cent Of their par valus
and accrued interest from Jan. J. Sdsed, In cur
rency.
The back interest Il charged e az peg ''.t
. In currency. though repaid In full In god.
this time they yield nearly
. v,yy PER oBYT. UPOy THE Iyvssr.
XESL
Tb.ss bonds bid fair 70 attain the most pro-a.
lnent po-itiOn among the nOBrpeculatfVe in
vestmsnts Of the country, and VIII BE- Aatively
dealt in II the msnsy-oeBtres in Europe.
\ HoldSrs Of Government securities have an on.
p0rtunity Of exchanging them for Centr.l Pa
eihc BOnds bearing an equal rate Of interest
with the principal well secured. and Of
REALIZING 4 PROFIT OF TEN 10 YY.
TEEN PER CEST. IN ADDITION.
7, Orders sent with the funds through resposd
bic Banks or Express Companies viii rooeivs
prompt attention. Bonds ssnt BY rsturn ~
press 70 any address In the United states 81
our cost INFORMATION Descriptive pAmphlse,