The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-06-20
Central Pacific Railroad First
Mortgage Bonds.

Mortgage Bonds.
II is commonly known that the General ov
ernmsut for wise purposes has given It's aiC
and encouragement TO the construction OF on'
MAIN THROUGH LINE OF RAILROAD from the Pa
ci6c Ocean across the Territories 20 conueci
with the various Eastern Branches OF the Pa
cihc Railroad system, and which will form the
GRAND TRUNK ROUTE TO the Far West
upon which the mighty trans continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-who are carrying it forward with
greater energy and persistence than was ever
shown in any siPIilar work in ancient or modern
times-will 6uiia equip, own and control the
Western BALI of this Through Line. the most
productive, favored, aud valuable portion Of the
whole, and may Justly be regarded rs possessing
the richest franchise ever granted on this CONT.
nent.
The Act of Cong confers upon the CorpO-
ratiOns, besides the right Of way across the Ter,
ritories gift Of u 800 acres OF tho public lands
per mile, contiguous to this line, and en- appro.
priation from the National credit Of SIXTY NIL.
LIONS in PER CENT. BONDS, delivered a. the
work progresses; or half the estimated cost OF
the Through Line and Branches. These Sub
of years by the Transportation services Of the
Roads, and small per centage Of their net earn.
ings; they, therefore, consulate an element OF
great strength 10 the corporations.
The Act further authorizes them 20 issue an
equal amount Of their own First Mortgage
Bonds of corresponding denominations, t0hie'
shall be the first claim upon the tchois railroad prop
erty, and 20 tohieh The lien Of he Government shda
be subordinate, as q means Of more readily secur.
ing the remaining half of the capital for the con.
struotion; 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 SEMi.NATioNAL
WORK aided and commended by the people, the
Legislative power, and the Executive officers,
though It's management Is administered pih al
the care and JorethOugM Of s most eBliSat pTirdte
eOrpOrdtiOnS Being under the constant super
vi6ion Of the GOvernment-who, being the prin'
cipal creditor, accepts subordinate and contin.
gent lien-with 30 large an amount Of addition
al capital also invested in the property pledged
IL is believed that no securities now offered In
the market possess the sane claims TO conf.
dence and market value, except those NJ the
Government
Under these favOTing auspices very gratifying
progress has been made In extending the railroad
track from both directions. Nearly 1000 miles
of the Main Line and c0nvcrging 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
stSn Line from the steamboat navigation OF the
Pacific TO the summit OF tho SISrra 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 the whole
line the probabilities Of the through connection
with the Eastern lines being eGected In ls7o
amount almost TO certainty.
The prominent feature In the progress Of the
CENTRAL PA IPIC RAILROAD IL the remarkably
large and profitable Local Business which IL de-
velOped upon the completed portion, more than
justifying the estimates OF its professionalism
the immense traffic between the ports Of Cali
fOrniA and the mining regions Of the intr' OF
would sustain q frst-class railroad line, even II
the overland connections were not built. The
net profit upon operating the link OF leaA than
one hundred miles thus far reaches nearly two
millions in gold; aud this ratio will he doubled
during the coming season, when the entire
mountain transit IL made by the locomotive.
With every extension Of the track the business
and profits of the completed part are Increased;
20 that when the overland through traffic shall
be 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 RAILROAD
CoMPANY offer for sale theirFIkST M0RTG AGE
THIRTY YEAR SIX PER CENT. GOLD
B o IS, and submit 70 Investors TIE
following, among other obvious COnsidera-
tions; and invite tho comparison with this merits
and eXcellencies OF any class OF Corporate ~
curities:
I. These Bonds are baSed upon the most vital
and valuable part OF the Grand National Pacific
Railroad, soon 10 become the main channel Oi
communication on the continent.
II. The local settlement aud bushes. thsT .
from is remarkably large and profitable, And
must constantly increase.
built, and the remainder will be rapidly carrie
forward ever the Salt Lake Plains.
Nv. The greatest part Of the means necessary
To build the road II provided by the L. :. Gov
eminent upon , subordinate Hen.
v. The State and chief cities Of California
have contributed upward Of s3,OOO00 10 the
enterprise without lien.
VI. The grant Of land Is destined at an early
day 10 prove Of far greater market value than
the total Of the Arst mortgage bonds issued
upon the road and equipments.
VII This road lies altogether among the gold
and silver producing regions, and its revenues
are received In coin.
VIM. The management VI this, company ba'
been In the highest degree prudent and frugal
and the whole Surplus, after payment OF eKpens'
and interest, IL devoted 90 construction purps
ses
TX. The interest liabilities Of the COMPANY
are even now less than . third the net earning
upon the road pledged.
I. Both Prfa1ipdI AID Intsrea ar, payable Il
Gold, under special provisions Of both EatiOna
and State enactment.
The bonds are in sums Of 1900 each viii
semi-snnuAl gold coupons attached, and are Of
fsrsd for sale at 95 per cent Of their par value
and accrued interest from Jan. I. sdAed, In cur
rency.
The back interest IL charged AZ siI per CEN
| IN currency, though repaid In full In god. A
this time they yield nearly
NINE PER CENT UPON THE MVESl
| NRET
Thess bonds bid fair TO attain the most 1fun
I inent p0aitioa amoug the non speculative n
vestmsnfs Of the country, snd win be sstivel
dealt In 1t the mSuey-ceDtres In Europe.
] Holders Of Government securities have an OF
poFtunity Of exchanging them for Central
cihc Bonds EbeaStnE an equal rate 81 inierss
with the principal well secured. and Of
REALIZING a PROFIT or TEN TO III
TEEN PER CENT ~ ADDITION
OrderS sent with the funds through TespoGs
BILE Banks or EIpres Companies VIII TeocIs
PROMPT attention. Bepds sS1t By return II
me-. "a snv address IN The URited states, .
4 nesevfr.ffue Famrlhl~fl