The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-06-06

CeNtTal II aCIuC HStAAhEOnu lESt
Mortgage Bonds.
II IL commonly known that the General Gov.
eminent, for wise Purposes, has given It's AID
and announcement to the construction OF one
MAIN THROUGH LINE OF RAILROAD nom the Pa
cific Ocean across the Territories 20 connect
with the various Eastern Branshes Of the Pa
ciRc Railroad system, and which will form the
GRAND TRUNK ROUTE 70 the Far West,
upon which the mighty traRscontinental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-who are carrying It forward with
greater energy and persistence than was ever
shown In any SIMILAR work in ancient or modern
times-will buiIa, equip, 0wn and control the
Western half Of this Through Line, the most
productive, favored, and valuable portion Of the
whole. and may Justly be regarded as possessing
the richest franchise ever granted on this CONT
nent.
The Act Of Congress confers upon the Corpo-
rations, besides the right Of way across the Ter
ritories gift of - 500 acres OF the public lands
per mile, contiguous TO this line, and an appro'
priation from the National credit OF sixty NIL
LIONS in PER CENT. BONDS, delivered a. the
work progresses; or half tho estimated cost Of
the Through Line and Branches. These Sub
sidy bonds the company may cancel in course
Of years by the transportation services OF the
Roads and small per centage Of their net earn.
ings; thew, therefore, constitute an element Of
great strength TO the corporations.
.
The Act further authorizes them 10 issue an
equal amount of their own First Mortgage
Bonds oEcOrresponding denominations, ohich
shall be The first claim upon The tohoS railroad prop
erty aud % tekich the hen Of the Government ShdA
be subordinate, As 4 means Of more readily secuT'
ing the remaining half of the capital for the con
stTucti0n; the equipments, &c, being provided
out of the capital stock subscriptions and other
sources.
The great CENTRAL PACIFIC RAILROAD Is there
fore, In an important sense, q SEAlNATioNAL
Work, aided and commended by the people, the
Legislative power and the Executive officers
though its management Is administered nth al
the care and JOrethOtgh Of tbs most eminent pirate
corpordti0nS Being under the constant super
viHion Of the Govemment-who being the prin'
cipal creditor accepts subordinate and contin'
gent lien-with so large an amount OF addition
al capital also invested In the property pledged,
IL Is believed that no securities now offered In
tho market possess the sane claims 70 conn.
dence and market value, except those Of the
Government.
Under these favoring auspices very gratifying
progress has been made in extending the railroad
track from both directions. Nearly 1000 miles
of the Main Line and c0nvergiug Branches be-
tween the Missouri River and the base Of the
Rocky Mountains have been built within three
years. The CENTRAL PACIFIC RAILROAD has
also steadily and successfully carried the Main
Stem Line from the steamboat navigation Of the
IA. E.n.. NJ. a.. a..
into the Great Salt Lake Basin east OF the Can
fornia line. Having overcome by far the most
difficult and expensive portion OF tho whole
line, the probabilities Of the through connection
with the Eastern iines being effected In 1870
amount almost TO certainty.
The prominent feature in the progress Of the
CENTRAL PA IFIC RAILROAD In the REMARKABLY
large and profitable Local Business which is do
yelOped upoB the completed portion, more thar
justffying the estimates Of its PROFESSIONALISM
the immense traffic between the ports OF Call
fornia and the mining regions Of the intci OF
would sustain hrst-class railroad line, even u
the overland connections were not built. The
net profit upon operating the link OF less than
one hundred miles, thus Tar, reaches nearly two
millions In gold; and this ratio will DO doubled
during the coming season, wien the entire
mountain transit Is made by the locomotive
With every extension Of the track, the businee,
and profits of the completed part are increased
so that when the overland through traffic shall
BIO Centered upon the CENTRAL ROAD, the gen
eral prosperity Of the company will DO without
parallel, and its securities appreciated CORES
pondingly. The CENTRAL PACIFIC RAlLReAI
COMPANY offer for sale theirFIRST M0RTGAGI
THIRTY.YEAR SIX PER CENT. COLL
BONDS, and submit TO Investors tn
following, among other obvious eonsidera
tons; and invite the comparison with the merit
nd arcalianpiea nf any claaa of lOrDOrate
surities:
I. These Bonds are based upon the most vita
and valuable part Of the Grand National Pacific
Railroad. soon 70 become the main channel o
communication on the continent
II. Tho local settlement and business Their Q
from Is remarkably large and profitable, and
must constantly increase.
III. The hardest part Of the road Is nov
built, and the remainder win DO rapidly carrie
forward ever the Salt Lake Plains.
". The greatest part Of the means necessar.
to build the road is provided BY the o. 5. Gov
eminent upon q subOrdi lien.
V. The State and chief cities Of CAlifOrDi
have contributed upward OF S3,0OO,OJ 10 th
enterprise without len.
VI. The grant Of land Is destined at an earl!
day 20 prove Of far greater market value thai
tho total Of the Rrst mortgage bonds issues
upon the road and equipments.
VII. This road lies altogether among the gold
and silver.producing regions, and its revenue
are received in coin.
VIII. The management Of this company ba
been in the highest degree prudent and fruEa
\ and the whole surplus, after payment Of eIpena
and interest, 10 devoted 10 construction purp'
ses.
| TX. The interest liabilities Of the eompan
| are even now less than q third the net earning
upon the road pledged.
\. Both Principal aud TnterCst are payabl
Gold, under special provisioDs Of both Nations
and State enactment.
The bonds are in sums Of 5000 each, wit
ssmi-aunual gold coupons attached, and are
fered for sale at % per cent. Of their par VAIN
and accrued interest from Jan. ], added, IN Gu
rency.
Tho back interest IL charged at six per cen
In currency, though repaid In fall In gold.
this time they yield nearly
NINE PER CENT UPON THE IgVES
NEET
I These bonds bid fair 70 attain the most 1rOi
iDent position among the BqpSPeculatiye
Vestments Of the country. and viii be aStiye
dealt In at the nsney centres In Europe.
Holders Of Government securities have an 0
pOrtuBity Of exchanging them for Central
cihe Bonds bearing an equal rate Of intere'
with the principal well secured, and Of
REALIZING 4 PROFIT OF rRE TO ~
TEEN PER CENT IN ADDITION.
Ordera sent with the fnnds through rsspon
bic Banks or Express Companies WI rocel