The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-05-29
Central Pacific Railroad First
Mortgage Bonds.

It is commonly known that the General Gov
eminent, for wise purposes, has given It's An
and encouragement 70 the construction OF on
NAN THRoUaH LINE OF RAILROAD from the Pa
cifc Ocean acrUss the Territories 60 conuec
with the various Eastern branches OF the IA
citc Railroad system, and which will form tn
GRAND TRUNK ROUTE 70 the Far West
upon which the mighty transcontinentAl trafii'
will concentrate.
The CENTRAL PACIFIC RAILR0A1
are carrying II forward Will
greater energy and persistence than was evei
shown In any SIMILAR work in ancient or moderI
bui,l, equip, own and control tn,
Western BALI of this Through Line. the mos
productive, favored, and valuable portion Of th'
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 IL $40 acres Of the public land
per mile, contiguous 20 this line, and en- appro
priation from the National credit OF sixty NIL
LIONS in PR CENT. BONDS, delivered - tn
work progresses; or half the estimated cost Q
the Through Line and Branches. These sub
sidy bonds the company may cancel In . csurs
of years by the Transportation services OF tn
Roeds, and q small per centage Of their net earn
ingS; they, therefore, constitute an clement o
great strength 70 the corporations.
The Act further authorizes them 10 issue n
equal amount Of their own First Mortgag
Bonds of corresponding denominAtionA, 'OAfei
Skdu Be the first claim upon s t0Aoe r0slrodd pyop
eriy and 20 ipkieh The lien Of he GOUerHEaSnf sial
be subordinate, rs means Of more readily secur
ing the remaining half of the capital for the con
stTuctiOn; the equipments, &c, being provides
out Of the capital stock subscriptions and othe
sources.
The great CENTRAL PACIFIC RAILROAD is there
fore In an important sense, . SEMFNATioSA
WORK, aided aud commended by the people, tn
Legislative power, and the Executive officers
though itS management Is administered RIh a
ne care and Jorsthought Of uts most eminent prUat
corporations. Being under the constant super
visiOn of the GOvernWent-who, being the prin
cipal creditor, accepts subordinate and contln
gent lien-with 50 large m amount OF addition
al capital also invested in the property pledged
ID Is believed that no securities now offered II
the market possess the sane claims 10 conf
dence and market value except those OF thu
Government.
Under these faVoring auspices very gratifying
progress has been made in extending the railroa'
track from both directions. Nearly 1000 mile
of the Main Line and cSnverging branches be
tween the Missouri River and the base OF th'
Rocky Mountains have been built within thre'
years The CENTRAL Pacific RAILROAD ha
also steadily and successfully carried the Mali
Stem Line from the steamboat navigation OF tn
Pacific to the summit Of the Sierra Nevada, am
into che Great Salt Lake Basin east OF the Call
fOrnia line. Having overcome by far the mos
difficult and expensive portion Of the Who'll
line, the probabilities Of the through connection
with the Eastern lines being effected In ISL
amount almost TO certainty.
The prominent feature In the progress Of th,
CENTRAL Pacific RAILROAD Ii the remarkabl!
large and profitable Local Business which Is de
veloped upon the completed portion, more thai
justffyinR the estimates Of its proieCtoTs--tba
the immense traffic between the ports Of Cali
fOrnia and the mining regions Of the int'' o.
would Sustain hrst-class railroad line, even }
the overland connections were not built. Th'
net profit upon operating the link Of less thai
one hundred miles, thus far reaches nearly TIVE
millions in gold; and this ratio will DO dOubleC
during the coming season, when the entir'
transit Il made by the locomotive
With every extension Of the track. the businesi
and profits Of the completed part are increased
80 that when the overland through trathc shall
be centered upon the CRNTRAL ROAD, the gen
eral prosperity Of the company will BE- without
parallel. and its securities appreciated CORES
pOndingly. Tho CENTRAL Pacific RAILRsAI
COMPANY offer for sale theirFIRST MORTGAGE
THIRTY.YEAR SIX PER CENT. COLI
BONDS, and submit TO Investors "a,
following, among other obvious oonsidera
tions and invite the comparison with the merit
and excellencies Of any class Of Corporate 70
surities:
/. These Bends are based upon the most vita
and valuable part Of the Grand National Pscid'
Railroad. soon 10 become the main channel o
communication on the continent
II. The local settlement and business there
from Ia remarkably large and profitable, An
must constantly increase.
III. The hardest part Of the road Ia nov
built and the remainder will be rapidly carrie
forward over the Salt Lake Plains.
". The greatest part Of the means neoeasaT
TO build the road Is provided by the U. 5. Gov
eminent upon . subordinate lien
v. Tie State and chief cities Of CalifornI
enterprise withOdstien.
VI. The grant Of land Il destined Of an earl
day 20 prove Of far greater market valHs tina
the total Of the first mortgage bonds Issue
upon the road and Oquipments.
VII. This road lies altogether among the gol
and silver.producing regOnA, and Its reVenue
are received In coin.
VIII Tho v,ana1.nnent of this cosupaDv In
hen IN thc bIghs.t Ssoree nr1dept and fruga
and tbe whole surplrs. after payment Of eIpsns
and InteTest a devoted 70 Construction purpS
Scs
TX. The interest Liabilities Of the e0mpan
are even now less than third the net earning
Gcid under upsciz pr u, q Soth SStSon.
The bond. arg in sum. q slo.o s.sA, Vi,
rency' -
w.