The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-10-06
Central Pacific Railroad First
Mortgage Bonds.

Mortgage Bonds.
1t 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.
ciic Ocean across the Territories 10 connect
with the various Eastern Branshes Of the Pa.
ciic Railroad system, and which will form the
GRAND TRUNK ROUTE to the Far West,
upon which the mighty Unconstitutional 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
times-will buila, 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.
nent.
The Act of Congress confers upon the Corpo-
rations, besides the right Of way across the Ter
ritories gift Of - 500 acres Of the public lands
per mile, contiguous to this line, and an appro'
priation from the National credit Of SIXTY MIL
LIONS in PER CENT. BONDS, delivered as the
| the Through Line and Branches. These Sub
sdy bonds the company may cancel in a course
of years by the Transportation services Of the
Roads, and a small per centage Of their net earn.
| ings; they therefore, constitute an element OF
great strength 10 the corporations.
The Act further authorizes them to issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, tchieiI
shall be the first claim upon the t0hOe railroad prop
erty aud 30 tChieh he lien Of the Government shall
| be subordinate, as 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, a SEMI NATIONAL
WORK, aided and commended by the people, the
Legislative power, and the Executive officers,
though its management is administered i5ith all
The and JorethOtgh Of the most eminent PIRATE
corporations. Being under the constant super
viGiOn 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
the market possess the same claims 10 conf.
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 1000 mes
| 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 1870
amount almost 10 certainty.
The prominent feature in the proress Of the
| CENTRAL PA IF1C RAILROAD il the remarkably
large and profitable Local Business which is de.
velOped upon. the completed portion, more than
! iustfying the estimates of its pTojeCtOrs-that
| the immense traffic between the ports of Cali.
fOrnia and the mining regions Of tho inter or
would sustain q 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 far, reaches nearly two
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, the business
| and profits of the completed part are increased
so that when the overland through traffic shall
| be conferred upon the CENTRAL ROAD, the gen
|
parallel, and its securities appreciated cores.
pOndingly. The CENTRAL Pacific RAILROAD
COMPANY offer for sale theirFIkST MORTGAGE
| THIRTY-YEAR SIX PER CENT. GOLD
BON and submit 10 Investors the
following, among other obvious cOnsdera
tons; and invite the comparison with the merits
and excelencies Of any class Of Corporate Sc
Gurities:
l. These Bonds are based upon the most vital
and valuable part of the Grand National PacihC
| Railroad soon 20 become the main channel OF
communication on the continent.
from is remarkably large and profitable, and
must constantly increase.
III. The hardest part Of the road il now
| built and the remainder will be rapidly carrie
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road Il provided by the U. ). Gov
eminent upon a subordinate lien.
V. The State and chief cities Of CalifOrniA
have contributed upward Of t3OOO,OO 10 the
enterprise without lien.
/ VI. The grant Of land Il destined at an early
day 10 prove Of far greater market value than
.
upon the road and equipments.
VII. This road lies altogether among the gold
and silver. reproducing regions, and it, revenues
are received in coin.
| VIII. The management Of this company has
been in the highest degree prudent and frugal
and the whole surplus, after payment OF eIpeBs'
and interest, IL devoted 70 construction purps
ses.
TX. The interest liabilities Of the company
are even now less than a third the net earning
upon the road pledged.
X. Both Principal and IEterezt are pdyaJL Il
Gold, under special provisions Of both EatiOna
and State enactment.
The bonds are in sums Of 1900 each, wit
semi-annual gold coupons attached, and are Of
fered for sale at % per cent. Of their par value
and accrued interest from Jan. !, adaed In cuI
rency.
The back interest IL charged at six per cen
in currency, though repaid In full in gold. A
this time they yield nearly
NINE PER CENT. UPON TIE ISVES.
NEHT
These bonds bid fair to attain the most proit T.
inent position among the Don-seeGu III n
vestments Of the country, and WIil %
dealt in at the msney centres VI 81, nm
Uoldsrs OF Government sscuritles h G az ~ u
poTtnnitv Of exchanging them for Cep 1t,a, T.
Ia Ponds bearing an equal rate % lH'ei'S'
With he principal well secured and Of
pK.LIzIyG A PROFIT OF TEN TO III
TEEN PER CENT. IN ADDITION
Orders sent with the funds through respOns
bic Banks or Express Companies will receiy
prompt attention Bohds ssnt by return z
pres 20 any address in the United States.
Inf - -.