The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-08-31
Central Pacific Railroad First
Mortgage Bonds.

Central Pacific Railroad First
Mortgage Bonds.
1t Ia commonly known that the General Gov.
and encouragement 70 the construction Of one
MAIN THROUGH LISE0F RAILROAD from the Pa.
citic Ocean across the Territories TO connect
with the various Eastern Branshes of the Pa.
ciic Railroad system, and which viii form the
GRAND TRUNK ROUTE TO the Far West
upon which the mighty transcontinental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
are carrying It forward with
greater energy and persistence than was ever
shown in any sip,ilar work in ancient or modern
times-wil build, equip own and control the
Western Half Of this Through Line the most
productive, favored, and valuable portion OF the
whole, and may Justly DO 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 IL $40 acres OF the public lands
per mile, contiguous TO this line, and an apprO-
priation from the National credit Of sixty NIL
LIONS in PER CENT. BONDS, delivered as the
work progresses; or half the estimated cost OF
the Through Line and Branches. These Sub
sidy bonds the company may cancel in a course
of years by the Transportation services Of the
Roads, and q 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, rhieh
shall be the first claim upon the tchOS railroad prop
erty aud 20 tokieh The lien Of the Government shall
be subordinate, as 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 and other
sources.
The great CENTRAL PACIFIC RAILROAD is there
fore, in an important sense, SENI'NATIoSAL
WORK aided and commended by the people, the
Legislative power, and the Executive officers,
though its management Is Administered i0ith al
the care and J0rethOughf Of he most eminent PIRATE
corporations. Being under the constant super
viGion of the Government-who, being the prin.
cipal creditor, accepts subordinate and oontin'
gent lien-with 30 large an amount Of addition.
al capital also invested in the property pledged
tho market possess the sane 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 miles
Of the Main Line and converging Branches be-
tween the Missouri River end the base of the
Rocky Mountains have been built within three
years The CENTRAL PACIFIC RAILROAD has
also steadlIy and successfully carried the Main
Stem Line from the steamboat navigation Oi the
Pacific TO the summit Of the Sierra Nevada, and
into the Great Salt Lake Basin east OF the Call.
fornia line. Having overcome by far the most
difficult and expensive portion OF tho whole
line the probabilities Of the through connection
with the Eastern lines being effected In 1870
amount almost 10 certainty.
The prominent feature in the progress Of the
CENIIGAI. ia IrTo RAILRoAp is the remarkably
largo and profitable Local Business which IN do
veloped upon the completed portion, more than
iustffying the estimates of its projectOrs-that
the immense traffic between the ports Of Cali
fornia and the mining regions OF the int,' or
would sustain q firstclass 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 centered upon the CENTRAL ROAD, the gen
eral prosperity Of the company will be without
parallel, and its securities appreciated corrcs
pondingly. The CENTRAL PACIFIC RAiLRsAD
COMPANY offer for sale theirFIRST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
BONDS, and submit 10 Investors tae
following, among other obvious considera.
lions; and invite the comparison with the merits
and eIcellencies Of any class OF Corporate So
Guritles:
l. These Bonds are based upon the most vita
and valuable part OF the Grand National Pacific
Railroad. soon TO become the main channel o.
communication on the continent.
II. The local settlement and business Their
from is remarkably large and Profitable, AM
must constantly increase.
III. The hardest part Of the road Ia now
built and the remainder will be rapidly carrie
forward ever the Salt Lake Plains
". The greatest part Of tbs means necessary
to build the road is provided by tho U. =. Gov
eminent upon q subOr dinate lien.
V. The State and chief cities Of California
have contributed upward Of p,O00,O0 20 tb'
enterprise without lien.
VI. The grant Of land Is destined Mt an early
day 10 prove Of far greater market value thar
the total Of the frrt mortgage bonds lssuet
upon the road and equipments.
VII. This road lies altogether among the gold
| and silver-producing regions, and its revenue
are receives in coin.
VIII. The management Of this company ha
| been In the highest degree prudent and frugal
| and the whole surplus, after payment OF eKpens
and interest, Is devoted to construction purpf
ses.
! TX. The interest liabilities Of the eOrnpaD
| are even now less than q third the net earning
upon the road pledged.
X. Both Principal and fntereIt are paya1k
GoId under special provisions Of both Nations
and State enactment
The bonds are in sums of 1900 each, Wit
eemi -sun nal gold coupons attached, and are
fered for sale at IS per cent Of their par 'Au
and accrued interest from Jan. ], aided IN Gu
rency.
The hack interest IL charged at six per cen
In currency. though repaid In full in gold.
this time they yield nearly
NINE PER CEyI. UPON THE ISVgs
NEgT
Tbese bonds hk fair TO attain the most pro-
insnt position amsng the nOn-sbseulAtiye
vestments Of the country, and viii be active
dealt In AZ the msRsy-eeBtres In Europe.
Holdsrs OF Government securities have an q
portubity Of exchanging tbeGn for Central
cifc Bonds bearing an equal rate Of intere
With the principal vel secured, Aad Of
REALIzISG A PROFIT OF TEN TO ~