The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-09-17
Central Pacific Railroad First
Mortgage Bonds.

Central Pacific Railroad First
Mortgage Bonds.
It is commonly known that the General Gov.
eminent, for wise purposes, has given its aid
and encouragement to the construction Of one
MAIN THROUGH LINE OF RAILROAD from the Pa.
citc Ocean across the Territories 70 connect
with the various Eastern Branshes Of the Pa
citic Railroad system and which will form the
GRAND TRUNK ROUTE TO 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 sip,ilar work in ancient or modern
times-will builu, equip, own and control the
Western HAlf Of this Through Line the most
productive, favored, and valuable portion Of tho
whole, and may Justly be regarded ~ 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 II sOO acres OF the public lands
per mile, contiguous TO this line, and On appro-
priation from the National credit Of sixty NIL
LIONS in 6 PER GENT. BONDS delivered As the
work progresses or half tho estimated cost Of
the Through Line and Branches These Sub
sidy bonds the company may cancel in q course
Of years by the Transportation services Of tho
Roads, and small per csntage Of their net earn.
ings; they, therefore, constitute an element Of
great strength 70 the corporations.
The Act further authorizes them to issue an
equal amount Of their own First Mortgage
shall be The first claim upon The tchois railroad prop
erty, and 20 WhicA the lien Of the Government shall
be subordinate, as o 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 and other
sources.
The great CENTRAL Pacific RAILROAD Is there
fore, in an important sense, q SENrNAroNAL
WORK, aided and commended by the people the
Legislative power and the Executive officers,
though its management is administered Nth all
The aud JorethotJht Of the most eminent prudte
corporations. Being under the constant super
viDiOn of the Government-who, being the prin.
cipal creditor, accepts subordinate and contin-
gent lien-with so large an amount of addition.
al capital also invested in the property pledged
IL is believed that no securities now offered in
dence and market value, except those of the
Government.
Under these favoring auspices very gratiy lying
progress has been made in extending the railroad
track from both directions. Nearly 1000 miles
of the Main Line and converging Branches be-
tween the Missouri River and the base of the
Rocky Mountains have been built within three
years. The CENTRAL Pacific RAILROAD has
also steadily and successfully carried the Main
Stem Line from the steamboat navigation OF the
Pacific TO the summit Of the Sierra Nevada, and
into the Great Salt Lake Basin east Of the Cali
fornia line. Having overcome by far the most
difficult and expensive portion of the whole
line, the probabilities Of the through connection
with tho Eastern lines being effected In Is7O
amount sisssose 60 certainty.
The prominent feature in the progress Of the
CENTRAL PA TIC RAILROAD Is the remarkably
large and profitable Local Business which Is de
veloped upon the completed portion, more than
nstifying the estimates Of its PROFESSIONALISM
the immense traffic between the ports OF Cali
fornia and the mining regions Of the int,i OF
would sustain hrst-class railroad line oven II
the overland connections were not built. The
net profit upon operating the link OF less than
one hundred miles, thus far, reaches nearly two
millions In gold; and this ratio will be doubled
during the coming season, when the entire
mountain transit is mado by the locomotive
With every extension Of the track, the business
and profits Of the completed part are increased
so that when the overland through traffic shal
be- conferred upon the CENTRAL Road. the gen
eral prosperity Of the company will be without
parallel, and its securities appreciated cores
pondingly. The CENTRAL PACIFIC RATLR0Ar
COMPANY offer for sale theirFIhST MORTGAGE
THIRTY-YEAR SIX PER CENT. GOLD
BON DIS, and submit to Investors the
following, among other obvious considera
tions and invite the comparison with the merit,
and excellencies Of any class Of Corporate 80
9urities:
l. These Bonds are based upon the most vita
and valuable part Of the Grand National Pacific
Railroad. soon TO become the main channel Of
communication on the continent.
II. The local settlement and business Their Q
from is remarkably large and profitable, an
must constantly increase.
built and the remainder will be rapidly carrie Z
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road is provided by tho U. 5. Gov
eminent upon a subordinate lien.
v. The State and chief cities Of Californi.
enterprise without lien.
VI. The grant Of land Is destined at an early
day to prove Of far greater market value than
the total Of the first mortgage bonds ISSUED
upon the road and equipments.
VII This road lies altogether among the gold
and silver.producing regions, and Its revenue
are received In coin.
VIII. Tho management Of this company ba
been in the highest degree prudent and frugal
and the whole surplus, after payment oil expens
! ses.
TX. The interest liabilities Of tho sompan!
are even now leas than third the net earning
upon the road pledged.
| Z. Roth Principal AID IatsJest are payable &
God. under special provisions Of both Nations
and state enactment.
The bonds are in sums Of 1900 each, Wit
semi-aunual gold coupons attached, and are O
fered for sale &C IS per cont Of their par value
and accrued interest from Jan. ]. added, In eu'
Irency.
| The BACK lntfTe3t - bDd - hAA ~ w
in currency, though repaid In full In gold. A
this time they yield nearly
NINE PER GEM. UPON TIE IyVES,
NEGL.
These bonds bid fair TO attain the most pr0E
iDent position among the n0nHpeculative
vestInents Of the country and viii be active
dealt In At the msney-ceDtres in Europe.
Holders Of Government securities have an o
portnnity Of exchanging them for Central }
cihc Bonds bearing an equal rate Of intere-
with the principal well secured and Of
REALIZING A PROFIT or TEN TO I'll