The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-05-25
Central Pacific Railroad First
Mortgage Bonds.

II is commonly known that the General Gov
eminent, for wise purposes, has given ito AID
and encouragement to the construction OF one
MAIN THROUGH LINZ or RAILROAD from the ia
cific Ocean across the Territories 70 connect
with the various Eastern branshes OF the Pa
eitic Railroad system, and which will form the
GRAND TRUNK ROUTE to the Far West
upon which the mighty traascontineutAl traffs
viii concentrate.
The CENTRAL PACIFIC RAILR0An
COMPANY-who are carrying IL forward with
gre ter energy and persistence than was evel
shown in any siV'ilar work in ancient or modern
times-wlll bull, 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 IS 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 SOO acres OF the pablo lands
per mile, contiguous To this line, and en- appro
priation from the National credit OF sixty NIL
LIONS in FER CENT. RoSDs, delivered A. the
WORK progresses; or half the estimated cost oi
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 centage of their net earn
ings: they, therefore, cOnstitSte AN element oi
great strength 10 the corporations.
The Act further authorizes them TO issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, Iohiei
shall be The first claim upon The trhOs railroad prop
srty, and 10 irhich the hen Of the Government shall
be StfbOrdindts rs q 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 aud otheI
sources.
The great CENTRAL PACIFIC RAILROAD Ia there
fore in an important sense, q SEMINATIoNAl
WORK, aided and commended by the people, the
Legislative pOwsr and the Executive officers
though its management ia administered Uth al
the care aud J0TetOugh of he most eminent pTIrdt'
corporations. Being under the constant super
vision Of the Government-whO,b being the prin
cipal creditor, accepts subordinate and contin
gent lien-with 40 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 tho SANE claims 10 conn
dence and market value, except those Of the
Government.
y
progress has been made in extending the railroad
track from both directions Nearly 1000 miles
of the Main Line and C0nverging Branches be
tween the Missouri River and the base Of the
kscky Mountains have been built within three
years. The CENTRAL Pacific RAILROAD Ina,
also steadily and successfully carried the MAR
Stem Line from the steamboat navigation OF II,
Pacific to the summit Of the Sierra Nevada, ant
into the Great Salt Lake Basin east of the Call
fOrnia line. Having overcome by far the mos
difficult and expensive portion of the whole
line, the probabilities Of the through connection
with the Eastern lines being effected in lS7C
amount almost 20 certainty.
The prominent feature in the progress Of the
CENTRAL Pacific RAILROAD ia the remarkably
large and profitable Local Business which is dc
veloped upon the completed portion, more than
justifying the estimates of it, pIoiectOrs-tbat
the immense traffic between tho ports of Call
fornia and the mining regions of the int oi
would sustain frst-class railroad line, even II
the overland connections were not built. The
net profit upon operating the link Of less than
one hundred miles thus tar reaches nearly TIVE
millions in gold; and this ratio will be doubled
during the coming season, when the entire
mountain transit Is made by the locomotive
With every extension Of the track, tho business
and profits Of the completed part are increased
so that when the overland through traffic shall
be centered upon the CENTRAL Roam, the gen
cTal prosperity Of the company will he without
parallel, and its securities appreciated cores
pondingly. The CENTRAL PACIFIC RAiLR0R
COMPANY offer for sale theirFlhST MORTGAGE
THIRTY.YEAR SIX PR CENT. GOLD
BONDS, and submit TO Investors tar
following, among other obvious cOnsidera
lions; and invite the comparison with the merits
and excellenCies of any class Of Corporate ~.
ourities
/. These Bonds are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad. soon 10 become the main channel oil
communication on the continent.
II. The local settlement and business there
from is remarkably large and profitable, and
must constantly increase.
III. The hardest part Of the road Is Bou
built, and the remainder will be rapidly carried
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
10 build the road Ia provided by the y. :. Gov
eminent upon a subordinate lien.
V. The State and chief cities Of California
have contributed upward Of o., oOo,OO0 ~ tbs
enterprise without lien.
VI. Tho grant OF land Is destised at an early
day 70 prove OF Car greater market valnB that
the total Of the first mortgage bonds Issued
upon the road and equipments
VII. This road lies altogether among the gold
and silverprOducing regions, and its 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 eIpeBs'
and interest, Ia devoted to construction purpO
ses-
TX. The interest liabilities Of the COMPANY
are even now less than third the net earning
upon the road pledged.
4 Both Principal and IHtereh are payable {,
Gold, under special provisions Of both SatiOna
and State enactment.
The bonds are In sums Of 5000 each, Will
semiannual gold coupons attached, and are Of
fered for sale AZ o5 per cent. OF their par value
and accrued interest from Jan. ]. aided, In cur
rency.
The back interest Is charged At sir per cent
in currency, though repaid In full in gold. A
TINS unS tocy yletn nhAIly
NINE PER CENT UPON THE IYTES1
MENT
These bonds bid fzIr 20 attain the mott prUu
inent pOation among the nOnEpeculstiYs II
vestments Of the country, and viii be aEtlyel
dealt in At the money -eeDtres In Europe.
Holders Of Government securities have an o,
p0TtUBity Of exchanging them for Central II
cifc Bonds bearing an equal rate Of inieres
with the principal well secured, and Of
REALIZING 4 PROFIT OF TES TO III