The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-07-30
Central Pacific Railroad First
Mortgage Bonds.

II is commonly known that the General Gov.
ernmsnt for wise purposes, has given its aid
and encouragement TO the construction of one
MAIN THROUGH LINE Oh RAILROAD from the Pa
CHIC Ocean across tho Territories 20 connect
with the various Eastern Branshes OF the Pa.
cifc Railroad system, and which will form the
GRAND TRUNK ROUTE % the Far West,
upon which the mighty transcontinental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
C0MPANY-who are carrying it forward with
greater energy and persistence than was ever
shown In any siuilar work in ancient or modern
times-TiIi 6nca, equip, own and control the
productive, favored, and valuable portion of the
whole, and may Justly be regarded a. 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.
per mile, contiguous 10 this line, and an appro-
priatiOn from the National credit Of SIXTY MIL
LIONS in PER CENT. BONDS, delivered "a the
work progresses; or half the estimated cost OF
the Through Line and Branches. These Sub
sidy bonds the company may cancel in a course
u
Roads and small per centage Of their net earn
ings they. therefore, constitRte an element Of
great strength 10 the corporations.
The Act further authorizes them 10 issue an
equal amount Of their own First Mortgage
Bonds of corresponding denominations, 0kich
shall be the first claim upon TIE Dhole railroad prop
erty, and % Iohieh the lien Of tie Government shall
be subordinate, rs q means of moro readily socur
ing the remaining half OF the capital for the con
struction; the equipments, &C. being provided
ont of the capital stock subscriptions and other
sources.
The great CENTRAL PACIFIC RAILROAD is there
fore, In an important sense, a INTERNATIONAL
WORK, aided and commended by the people, the
Legislative power, ana the Executive officers
though its management is administered ioiih all
The aud JorethOttJh Of tie moSt eminent prirdte
corporations. Being under the constant super
viGion Of the Govenment-who being the prin.
cipal creditor accepts a subordinate and contin-
gent lien-with 40 large an amount OF addition
al capital also invested In the property pledged
it Is believed that no securities now offered In
the market possess the sane claims 10 conf.
dence and market value, except those of the
Government.
Under these favoring auspices very gratifying
progress has been made in extending the railroad
of the Main Line and conyerging Branches he.
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
Pacific to tho summit Of the Sierra Nevada, and
into the Great Salt Lake Basin east OF the Cali
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 lines being effected in l-7o
amount almost 70 certainty.
: E's~P-~--I-----. 1--.-.-s 10 the prnRreas OF the
CENTRAL PA HIc RAILROAD IL the remarka 5Iy
large and prof table Local Business which IL de.
veloped upon the completed portion more than
iustifying the estimates of It's pIojectOrs-that
the immense traffic between the ports Of Cali.
fornia and the mining regions Of the intv' or
would sustain q 1rst-class railroad line, 9vOn II
the overland connections were not built. The
net profit upon operating the link Of less than
one hundred miles thus FAR, reaches nearly two
millions in gold; and this ratio will he doubled
during the coming season, when the entire
monntaia transit IL made by tho locomotive.
With every extension OF the track, the business
and profits of the completed part are increased;
so that when the overland through traffic shall
he conferred upon the CENTRAL ROAD the gen
eral prosperity Of the company will be without
parallel, and its securities appreciated cores
pondingly. The CENTRAL Pacific RAiLRaAD
COMPANY offer for sale theirFIhST MORTG OK
THIRTY YEAR SIX PER CENT. GOLD
BONDS, and submit 10 Investors the
following among other obvious cOnsidera-
tiOns; and invite the comparison with the merits
and cxcelencies Of any class OF Corporate sc
Ourities:
]. These Bonds are based upsn tho most vital
and valuable part Of the Grand National Pacific
Uaf % ls m nj al
communication on the continent.
III. The local settlement and business Their o
from il remarkably large and profitable, and
must constantly increase.
III. The hardest part Of the road Ia now
built and the remainder will he rapidly carrie
forward ever tho Salt Lake Plains.
". The greatest part Of The means necessary
To build the road il provided by the U. =. Gov
eminent upon a subordinate lien.
have contributed upward Of f3Ub,OD 20 tbs
enterprise without lien.
VI. The grant Of land IL destined At an early
day 10 prove Of far greater market value than
the total OF the FIRST mortgage bonds Issue
npon the road and equipments.
VII. This road lies altogether among the gnld
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 frugal
and the whole surplus, after payment OF eIpenS
and interest, Is devoted % CONSTRUCTION purpe
ses.
TX. The interest liabilities Of the eoppan.
are even now lea than third the not earning
upon the road pledged.
Y. Both Priaefpai and Tnt>res are Jdyab> 1
\ Gold. under special provisions Of both hationa
and State enactment.
| The bonds are In sumo OF 5000 each, viu
aemi-aunual gold coupons attached, and are Of
fered for sale at 81 per cent OF their par Vainf
and accrued interest from Jan. ], added, IN eui
rency.
The hack interest IL charged at sir per cen
I'm currency though repaid In full In gold a
this time they yield nearly
NINE PER CENT. UPOS THE ISVES.
These bonds I'D fair 70 stain the most yron
inent pOsitiOn among the nonspeculatiye i
dealt In at the msBey centres In Europe.
HoiISru al (.ngeFumant aefufifiTa have oil