The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-05-30

with klH various hAStein DFAnenca OF Tue Ia
cine Railroad system, and which Will form th,
| GRAND TRUNK ROUTE 10 the Far West
upon which the mighty transcontinental trath,
| will concentrate.
The CENTRAL PACIFIC RAILRoAI
| COMPANY-WhO are carrying ii forward with
greater energy and persistence than was eve
shown in any similar work In ancient OF 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 as possessing
the richest franchise ever granted on this cont
neut.
The Act of Congress cOnfers upon the CoTpO
rations. besides the right Of way across the Ter
ritories gift of H. 800 acres OF the public landl
per mile contiguous to this line, and an appro
| priatiOn from the National credit Of sixty MIL
LIONS in PER CRNT. RoNDs delivered ~ the
work progresses; or half the estimated cost u
the Through Line and Branches. These Sub
| sidy bonds the company may cancel in n csurss
of years by the Transportation services OF the
Roads, and a small Per centage Of their net earn
! ingS they, therefore, cOnstitate an element o
great strength 20 the corporations.
The Act further authorizes them TO issue al
eoual amount of their own First MOrtgag,
Bonds Of corresponding denominations, lnhiel
shall be tie first claim upon The iahOLS railroad prop
erty aud % lclick the lien Of tls Government ShdI
| be subordinate n n means OF more readily secur
ing the remaining half Of the capital for the con
struction; the equipments, 40, being provides
out Of the capital stock subscriptions and othei
| sources.
The great CENTRAL PACIFIC RAILROAD ia there
| fore In an important sense, = SEM'NATIoNAI
Work, aided and commended by the people, the
| Legislative power and the Executive othcors
/ hon, nh "a ma IA n
the care and Joreot9h Of tbs most entHent VT1rdt,
c0yIOTdtiOnS Being under the constant super
yihiOn Of the G Overnment--who being tho prin
! cipal creditor, accepts subordinate and c0ntin
| gent len-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 70 cOnh
dence and market value, except those OF the
| Government
Under these favOrinC auspices very gratifying
progress has been made in extending the railroad
| track from both directions. Nearly 100 miles
of the Main Line and s0nVerglng Branches be
tween the Missouri River and the base of th'
Rocky Mountains have been built within thrc,
| years The CENTRAL PACIFIC RAILROAD hR
also steadily and successfully carried the Mai
Stem Line from the steamboat navigation OF tn
| Pacific 10 the summit Of the Sierra Nevada, ana
! into the Great Salt Lake Basin east of the Call
| fOrnia line. Having overcome by far the mos
difficult and expensive portion OF the Wh0l'
line, the probabilities Of the through connection
with tho Eastern lines being effected in lSl
amount almost 20 certainty.
! The prominent feature In the progress of tn
CENTRAL PACIFIC RAILROAD IN the remarkAbl!
! large and profitable Local Business which u dc
velOped upon the completed portion, more thai
! iustifying the estimates Of its projectOrs-tha
! the immense traffic between the ports Of Cali
/ ha mil nf ha ulfI ID
would sustain a tirst-class railroad line, even /
| the overland connections were not bHilt- Ih'
| net profit upon operating tho link Of less thar
one hundred miles, thus far, reaches nearly TIVE
millions in gold; and this ratio will DO dOublod
during the coming season, when tho entirs
mountain transit Is made by the locomotive
With every extension Of the track, tho business
| and profits Of the eOmpleted part are increased
40 that when the overland through traffic shall
DO centerod upon the CENTRAL Roar, the gen
ernl prosperity Of tho company will be without
parallel, and ia securities appreciated CORES
pOndingly. The CENTRAL Pacific RAILRsAD
COMPANY offer for sale theirF IHST MORTGAGE
THIRTY YEAR SIX PER CENT. GOLD
BONDS, and submit TO Investors tAe
following, among other obvious oonsidera-
tions. aud invite the comparison with the merits
and CNCcllencss OF any class OF Corporate We
surities:
!. These Bonds ara based upon the most vital
and valuable part Of the Grand National Pacific
Railroad soon 10 become the main channel Of
communication on the continent.
H. The local settlement and business there
from j. remarkably large and profitable, and
must constantly increase.
III The hardest part Of the road Is now
built and the remainder will I've rapidly carried
forward ever tho Salt Lake Plains.
". The greatest part Of the means necessary
20 build the road IL provided by the U. s. Gov,
eminent upon a subordinate lien.
! V. Tie state and chief cities Of California
have contributed upward 0f BODoOpJ Ia the
enterprise without lion.
/ VI. The giant OF land IL jestlsed at an early
I the total Of the 6rst mortgage bonds Issued
upon the road and equipments.
| VII. This road lies altogether among the gold
and silyerproduCing regions and IL revenues
are received In coin.
VIII. The management Of this company ha
been in the highest degree prudent and frugal
\ and the whole surplus after payment OF sTPsnsi
and interest, Is devoted TO Construction purpa
/ ses-
TX Tho interest liabilities Of the COMPANY
| are even now less than a third ths net earning
upon the road pledged
\. Both Principal aad Int>ren are DdydJt 4
GolS. under special provisions Of both SatiOna
! and State enactment.
The bonds sre In sums Of 1905 each, Wit
semi -aunual gold coupons attached, and are OI
fered for sale ~ % per cent Of their par valu'
and accrued interest from Jan !. addsd In eul
rency.
The back interest is charged At ak per cen
in currency, though repaid ia full In gOld A
this time they yield nearly
| NINE PER CENT TPOy THE JgVgS,