The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-06-23
Central Pacific Railroad First
Mortgage Bonds.

II is commonly known that the General Gov.
ernmout, f0B, wise purposes, has given Its aid
and announcement 10 the construction OF one
MAIN THROUGH LINZ OF RAILROAD fIpm the Pa
cife Ocean across the Territories 70 connect
with the various Eastern Branshes Of the Pa
cite Railroad system, and which will form the
GRAND TRUNK ROUTE 10 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 ever
shown IN any siVlilar work in ancient or modern
times-will buiIu, equip, own and control the
Western Half of this Through Line. the most
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
ritOres a gift of - 500 acres Of the public lands
per mile, contiguous to this line, and En appro-
priation from the National credit of sixty MIL.
LIONS in PER CENT. RoNDs, delivered rs the
work progresses; or half tho estimated cost OF
the Through Line and Branches. These sub
sidy bonds the company may cancel in n course
Of years by the Transportation services OF the
Roads, and small per centage Of their net earn.
luEA; LltN, CouSNAlNto ah NAcAboht W
great strength 20 the corporations.
The Act further authorizes them TO issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, ichich
shall be the first clam upon he irhOLs railroad prop
syty and 20 tohieh the hen Of the Government SHAH
be subordinate, as o means OF more readily secur'
ing the remaining half Of the capital for the con.
stTuction; the equipments, &c, being provided
r. a.. g,,1 g,tloaYfntinna aud nthRr
sources.
The great CENTRAL Pacific RAILROAD il there
fore In an important sense, a SRhl'SAIIoNAL
Work, aided and commended by the people, the
Legislative power and the Executive officers,
though its management Is administered "'th az
Tie care aud COTctaoUgh Of the most eminent pT'cdts
corporations. Being under the constant super
yinion of the Government-who, being the prin'
cipahrreditor accepts subordinate and contin'
gent lien-with 80 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 conn
dence and market value, except those OF Tn"
Government
Under these fayoring auspices very gratifying
progress has been made In extending the railroad
track from both directions. Nearly 1000 miles
of the Main Line and cOnverging Branches be
tween TIDE MlhhOull anu inc JAW W. Wv
Rocky Mountains have been built within three
XsaTs, The CENTRAL PACIFIC RAILROAD has
Stem Line from the steamboat nasTTiat6s a Ma az;
Pacific 10 the summit of the Sierra Nevada, ant
into the Great Salt Lake Basin east Of the Cali
fornia line. Having overcome By far the mos
difficult and expensive portion Of the whole
line the probabilities of the through connection
with tho Eastern lines being effected in IS7C
amount almost TO certainty.
The prominent feature in the progress of the
CENTRAL PA IFIC RAILROAD Is the remarkably
large and profitable Local Business which ia dc
velOped upon the completed portion, more thar
iustffying the estimates Of its pIoiectors-that
the immense traffic between the ports Of Cali
foTnia and the mining regions OF the int'' Of
would sustain q hrst-Class railroad line, even Il
the overland connections were not built. Tit
net profit upon operating the link Of less thar
one hundred miles, thus tar, reaches nearly two
millions in gold, and this ratio will be- doubled
during the coming season, when the entire
mountaiR transit Is made by the locomotive
With every extension Of the track. the business
and profits Of the completed pIrt are increased
so that when the overland through traffic shal
be conferred upon the CENTRAL ROAD, the gen
eral prosperity Of tho company will be without
parallel, and its securities appreciated CORES
pondingly. The CENTRAL PACIFIC RAILR9AI
CoHPANY offer for sale theirFIhST MORTGAGE
THIRTY.YEAR SIX PER CENT. COLI
BONDS, and submit TO Investors thI
following. among other obvious consldera
tons; and invite the comparison with the merit'
and excellencies Of any class Of Corporate ~
eurties:
]. These Bonds are based upsn the most vita
and valuable part Of the Grand National Pacific
Railroad soon 10 become the main channel o.
communication on the continent
II. The local settlement and business ther e
from II remarkably large and profitable, and
must constantly increase.
III. The hardest part Of the road Ia now
built, and the remainder will be rapidly carrie
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road il provided by the L. $. Gov
eminent upon a subordina lien.
" The State and chief cities Of California
have contributed upward Uf S3,OOO,0OO 10 tn
enterprise without lien.
VI. The grant Of land is destined at an early
day 70 prove Of far greater market value than
the total Of the first mortgage bonds issueS
upon the road and equipments.
VII. This road lies altogether among the gold
and silver. producing regions, and it, revenue
are received ia coin.
VIII. The management Of this company ha
been In the highest degree prudent and iTnZ "a
and the whole surplus after payment OF eEpens
and interest, Is devoted 90 construction purpe
ses.
TX. The interest liabilities Of the cOmpAn
are ever now les than q third the net earning
upon the road pledged.
Y. Both Principal and Interest are DdyaLL /
| Gold under special provisions Of both Nations
and State enactment
The bonds are in sums Of 1900 each. wit
| semiaunual gold coupons attached, AMI are o
fered for sale At % per cent Of their par yalui
/ and accrued interest from Jan. ], added In cui
rency.
The back interest IL charged at six psr cen
! in currency, though repaid in fall Ia gOd 4
this time they yield nearly
NINE PER CENT UPOy THE wTES
MRET.
Thssa bonds bid fair 10 attain the mOs, 1rot
inent position among tie n0nEpeeulative ]
vestmsnts Of the country. and yin Be active
dealt In AZ the msney-oSDtres In Europe.
Holders OF Government securities have IN 0
portunity Of exchanging them for Central
eihe Bonds bearing an equal rate q iHtere'
with the principal well seeuFed, and Of
REALIzIE0 4 PROFIT OF TEN 10 III
| TEEN PER CENT ~ ADDITION
Orders ssat with The fuDds through rsspSe'
BE Banks O. EEprcss Compansss WIZ - y