The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-08-08
Principal & Interest in Gold Coin
Central Pacific Railroad First
Mortgage Bonds.

II is commonly known that the General Gov
eminent, Tor wise purposes, has given its aid
and encouragement TO the construction OF one
MAIN THROUGH LINE OF RAILROAD from the Pa
ciio Ocean across the Territories 10 connect
with the various Eastern Branches Of the Pa
cihc Railroad system, and which will form the
GRAND TRUNK ROUTE 10 the Far West
upon which the mighty nscontinental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
C0MPANY-who are carrying IL forward with
greater energy and persistence than was ever
shown in any SIMILAR work in ancient or modern
tmes-will builn, 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 rs 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
rtores, gift Of u SO acres OF the public lands
per mile, contiguous TO this line, and an appro
priation from tho National credit Of SIKH NIL
LIONS In PER CENT. BONDS, delivered a. the
work progresses; or half tho estimated cost OF
the Through Line aud Branches. These Sub
sidy bonds the company may cancel in q course
Of years by the Transportation services Of tho
Roads, and small per centage Of their net earn
ings they, therefore, constitute An element Of
great strength 20 tho corporations.
The Act further authorizes them TO issue an
equal amount Of their own First Mortgage
Bonds of corresponding denominations 'rlsici
shall be the first claim upon The iehOle faiIrodd prop
erty aud 70 irhieh the hen Of he Government shall
be subordinate, as means of more readily secur
ing the remaining half Of the capital for the con
structiop; the equipments, &c, being provided
ont Of the capital stock subscriptions and other
sources.
The great CENTRAL Pacific RAILRoAD Ia there
fore, in an important sense, n SFMI NATIONAL
WORK aided and commended by the people, the
Legislative power, and the Executive officers
though its management Is administered Irih al
the and JOrethotgh Of tbs most eninSni prirdt'
corporations Being under the constant super
vision Of the GovernmeEt-who, being the prin
cipal creditor, accepts subordinate and cnntin
gent lien-with so large an amount Of addition
al capital also invested in the property pledged
it Is believed that no securities now offered In
the market possess the sane claims % conh
dence and market value except those Of the
Government
Under these favoring auspices very gratifying
progress has been made in extending the railroad
track from both directions. Nearly 100 miles
of the Main Line and c0nVergng Branches he
tween the Missouri River and the base OF the
Rocky Mountains have been built within three
years. Tho CENTRAL PA1FIC RAILROAD hai
also steadily and successfully carried the MAR
Stem Line from the steamboat navigation OF thu
Pacific 10 the summit OF the Sierra Nevada, an'
into the Great Salt Lake Basin east Of th" Call
foTnia line. Having overcome by far the mos
diiicult and expensive portion OF th" Who'll
.l.al,tl a.aft ha
with the Eastern lines being effected In l5'
amount almost 20 certainty.
The prominent feature In the progress Of Oh
CENTRAL PA IF1C RAILROAD IL the romarkabl
ge and profitable Local Business which IL de
velOped upon the completed portion, more thai
justifying the estimates Of its pToiectors-tha
the immense traffic between the ports Of Call
fOrnia and the mining regions OF the intci q
would sustain n lrst-Class railroad line, even
| the overland connections were not built. Til
net profit upon operating the link Of less tina
| one hundred miles, thus far. reashes nearly tw
millions In gold; and this ratio will be double
during the coming season. when the entir
mountain transit Is made by the locomotive
| With every extension Of the track, the busines
and profits Of the completed part are Increased
| 30 that when the overland through traffic sha
| be- centered upon the CENTRAL ROAD, the g.r
eral prosperity Of the company will be vithou
parallel, and its securities appreciated CORES
pondingly. The CENTRAL PkcInC RALRsA
CoMPASr offer for sale tholrFIksT M0RTG AGl
| THIRTY YEAR SIX PER CENT. COLL
BONDS, and submit 70 Investors a.
| following among other obvious considers
tons; and invite the comparison with the merit
and exoellencies Of any class Of Corporate ~
aurities:
I. These Bonds are based upsn the most Wit.
| and valuable part Of the Grand National Pacih
Railroad soon 20 become the main channel {
communication on the continent.
III. The local settlement and business Their
from Is remarkably large and profitable, IN
must constantly increase.
III. The hardest part Of the road Ii NO
! built and the remainder will be rapidly carrie
forward over the Salt Lake Plains.
~. The greatest part OF the means nocessar
i TO bzad the road In provided by the u. ,. TO
| ernment upou snbordinate len
| v. Tie axe and chief cities OF CaliiOrn
have contributed RpFsrd Of 100000 TO u
enterprise without Zen
| vi. The grant Of land " AestipaS - an earl
| day 20 prove Of far greater market vASe Una
the total Of the arst mortgage bonds lsSni
upon the road and equipments
VII. This road lies altogether among the gol
and silver producing regions and Its revenu
are received In coin.
i VIII. The management Of this company b
been tn che highAst iegree pgaadaSt and frugi
and the whole surplus, AFTER payment Of eIpen
and interest, IL devoted 10 construction pun
Sea.
TX. The interest liabilities a tie eompa
are even now le-s than n third the net earLin
. upon the road pledged.
Y Both Principal and TH,>r>St arc paya1<>
Gold. under special provisions OF both hAilo'
and state enactment.
Q The bonds arc In sums Of 1000 each, VI
eni-aunual gold coupons attaehed, and arc
| fered for sale ht % per cent Of their par fH
and accrued interest rum Jan. u ahAea' 'h g
rency.
The back interest is charged at az per ee
In e,urrney, though repaid IN full In god.
Ibis time they yield nearly
NINE PER CENT. Upon THE HVE
iRyE
These bonds bid fair 20 - aiISiAs ,J1o~t ~
inent position among The D0BSyeeniAtlye
% vestneRts oI the country, sud Slll Be aEiI