The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-10-09

Central Pacific Railroad First
Mortgage Bonds.
1t is commonly known that the General Gov.
eminent, for wise purposes, has given its aid
and encouragement 70 the construction Of one
MAIN THROUGH LINE OF RAILROAD from the Pa
cifc Ocean across the Territories 70 connect
with the various Eastern Branshes Of the Pa
cifc Railroad system. and which will form the
GRAND TRUNK ROUTE TO tho Far West,
upon which the mighty trans-continental traffic
will concentrate.
| The CENTRAL PACIFIC RAILROAD
| C0MPANY-who are carrying it forward with
| greater energy and persistence than was ever
shown in any siVilar work in ancient or modern
times-will bnilu, equip, own and control the
Western BALI Of this Through Line the most
productive, favored and valuable portion Of the
whole and may Justly be regarded rs possessing
the richest franchise ever granted on this cont.
nent.
The Act Of Congress conters upon the Corpo-
rations, besides the right of way across the Ter
ritOres gift of IL 800 acres OF the public lands
per mile, contiguous to this line and sn appro-
pristion from the National credit Of SIXTY MIL
LIONS in PER CENT. BONDS delivered as the
work progresses; or half the 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 centago Of their net earn
| ings; they therefore, constitute an element OF
great strength TO the corporations.
III A g. 4har 70 llama m
equal amount Of their own First Mortgage
| Bonds of corresponding denominations, phich
shall be the first claim upon the Sohols railroad prop
erty, aud 20 i0hieh the lien Of the Government shall
be subordinate, as means OF more readily secur-
ing the remaining half Of the capital for the con.
struction; 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'NATfoNAL
WORK aided and commended by the people the
Legislative power, and the Executive officers
| though its management Is administered Nth al
the care and Jorethottgh Of the NJ eminent private
corporations. Being under :. constant super
vision Of the Government-who, being the prin'
cipal creditor, accepts a 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
the market possess the sane claims TO cona
uohCo anu mat NV N'sihOt NANNPe sAecS VI Wv
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 Ma Line and R Gonvsr1s Branches .S Io
Rocky Mountains have been built within three
years. The CENTRAL PACIFIC RAILROAD has
also steadiIy and successfully carried the Main
Stem Line from the steamboat navigation of the
a., NNe hs.g of fha aHa nd
into the Great Salt Lake Basin east Of tho Calf
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 1870
amount almost TO certainty.
The prominent feature in the progress Of the
| CENTRAL PA FIC RAILROAD Is the remarkably
large and profitable Local Business which Is do.
| velOped upon the completed portion, more than
| iustifying the estimates Of It's pIolectors-that
! the immense traffic between the ports Of Cali.
fornia and the mining regions Of the inter or
would sustain hrstclass railroad line, even IL
| 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 DO doubled
during the coming season, when the entire
mountain transit Is made by the 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
be centered upon the CENTRAL ROAD. the gen.
eral prosperity Of the company will 90 without
parallel, and its securities appreciated cores.
| pOndingly. The CENTRAL PACIFIC RAILROAD
| COMPANY offer for sale theirFIhST MORTGAGE
! THIRTY.YEAR SIX PER CENT. GOLD
b. N DIS, and submit 70 Investors the
| following among other obvious considers
| lions; and invite the comparison with the merits
and exceenoies Of any class Of Corporate SO
surities:
J. These Bonds are based upon the most vital
and valuable part of the Grand National Pacific
Railroad, soon TO become the main channel Of
communication on the continent.
II. The local settlement and business Their e.
from is remarkably large and profitable, and
must constantly increase.
Ill The hardest part Of the road Is now
built and the remainder viii be rapidly carrie d
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road Is provided by the U. =. Gov.
eminent upon a subordinate lien.
V. The State and chief cities Of California
have contributed upward Of t3,OOO,OO 10 the
enterprise without lien.
l VI. Tho grant Of land Is destined at an early
day 70 prove Of far greater market value than
the total Of the first 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.
VIII. The management Of this company has
been in the highest degree prudent and frugal,
and the whole surplus, after payment Of expense
and interest, Is devoted 70 construction p1rps-
ses.
TX. The interest liabilities Of the company
, are even now less than third the net earnings
upon the road pledged.
X. Both Principal and Interea are PAYABLE N
Gold, under special provisions Of both National
and State enactment
The bonds are In sums Of 1900 each, with
semi-annual gold coupons attached, and are Of
fered for sale at % per cent OF their par value
and accrued interest from Jan. ], ADDED, In cur
rency.
The back interest u charged at six per cent
in currency though repaid In full In god
this time they yield nearly
NINE PER CENT. UPON THE RVES1
NEHT
These bonds bid fair 70 attain the most PrOstn
inent position among the nonsgsenlAhs.gG ~
vestments Of the country, and Vii Dc A@S
dealt in at the msney-oeDtres IN 1urope. 90,
Holders Of Government seerntles h-to ~
portuufty OF exchanging them ior L - Is,e,...
eife Bonds bearing an equal Tab %
with the principal vel secured Ah' "
py,LIzIyG A PROFIT or TES TO FIY
TEEN PER CEgL IN ADDITION.
Orders sent With the funds through responsi
BE Banks OF Express Companies viii reoeiy
prompt attention. Bonds ssnt by return u
press 70 any address In the United Stafes. a
MA