The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-03-13
Central Pacific Railroad First
Mortgage Bonds.

1t is commonly known that the General Gov.
ernmOnt for wise purposes, has given its aid
and announcement to the construction Of Que
MAIN THROUGH LINE OF RAILRoAD from the Pa
cihc Ocean across the Territories 70 connect
with the various Eastern BranShes OF the Pa
cifc Railroad system, and which viii form the
GRAND TRUNK ROUTE TO the Far West
upon which the mighty trans-continentai trafhc
will concentrate.
The CENTRAL PACIFIC RAILROAD
COAGPANY-who are carrying 1t forward with
greater energy and persistence than was eveI
shown in any similar work In ancient or modern
times-will 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 be regarded as possessing
the richest franchise ever granted ON this CONT
nent .. r.H.
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 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 course
of years by the Transportation services OF the
Roads, and small per centage Of their net earn.
inPs; they therefore, constitute an element OF
great strength 70 the corporations.
The Act further authorizes them 20 issue an
edual amount Of their own First Mortgage
Bonds Of corresponding denominations, 'ohie'
shall be the first claim upon tie 1ch0ts railroad prop
ertlj aud 20 trl.ich tie lien Of he Government AdA
IL .,lo nj n Of moro readily aeCur-
ing the remaining half Of the capital for the con,
stTuctiOn; 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 SEMI.NABoNAi
Work, aided and commended by the people, the
Legislative power, and the Executive othcers
though its management is administered teih az
the care and JOrethOugM Of the most eminent pTncdte
corporations. Being under the constant super
viuiOn of the Goyernment--whO, being the prin'
cipal creditor, accepts subordinate and oontin'
gent lien-with so large an amount OF addition
NJ capital also invested In the property pledged
10 Is believed that no securities now offered IN
the market possess the sane claims 10 conn
dence and market yalue, 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 and the base OF tho
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
tra ha nrnhahlitiaa nf the tlrOu oh connection
with tho Eastern lines being effected In iaIV
amount almost to certainty.
The prominent feature in the progress Of the
CENTRAL Pacific RAILROAD Is the remarkably
large and profitable Local Business which 10 de-
veloped upon the completed portion, more than
iustlfying the estimates OF its PROFESSIONALISM
the Immense traffic between the ports OF Cali
forna and the mining regions Of the int'' or
would sustain firstclass railroad line, even 10
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 tho entire
mountain transit Is made by the locomotive.
With every extension Of the track, the business
and profits Of the completed part are increased;
50 that when the overland through traffic shall
be oentered upon the GENITAL ROAD, the gen
eral prosperity Of the company will be without
parallel and It's securities appreciated CORES.
pondingly. The CENTRAL PGCIHC RAILRsAD
COMPANY offer for sale theirFlEST MORTGAGE
Thirty. YEAR SIX PER CENT. GOLD
BONDS, aud submit 10 Investors TIE
following, among other obvious con-idsra-
tons; aud invite the comparison with the merits
aud eNcellenCics of any class OF Corporate ~.
curities:
]. These Bonds are based upon the mOst vital
aud valuable part Of the Grand National Pacific
ID..EI. a. In I'll mel ~
communication on the continent
II. The local settlement and business there.
from IL remarkably large and profitable, and
must constantly increase.
III. The hardest part Of the road Is nov
built, and the remainder will be rapidly carried
forward over the salt Lake Plains.
" The greatest part Of the means necessary
20 build the rOad II provided 10y the U. =. Gov
eminent upon subordinate lien.
v. Tie State and chief cities Of California
have contributed upward Of S,OOOOO 10 the
enterprise without lien.
VI. The giant Of land is destined nj an early
day 20 prove Of far greater market value than
the total Of tho first mortgage bonds issued
upon tho rOad and equipments.
VII. This road lies altogether among the gold
and silver-prOducing regions, and its 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 expense
and interest, n devoted 10 constructions purPo
ses. Er
TX. The interest liabilities 81 the company
are even now Iess than . third the net earnings
upon the road pledged.
X. Both Principal and IFt<reEt are pdyabk u
God, under special provisions Of both National
and State enaGtfSenE
The bonds are IL sums Of 5000 each, will
aemi-annuAl gold coupons attached, add are Of
fered for sale At IS per cent. Of their par value
and accrued interest from Jan. }. AIDED, In cur
reucy.
The back interest IL charged az SIX per cent
in currency, though repaid In full 10 god. Al
this time they yield nearly