The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-03-21
Central Pacific Railroad First
Mortgage Bonds.

It Is commonly known that the General Gov
ernmsut for wise purposes, has given its al,
and encouragement 20 the construction 81 on
NAN THROUGH LINE or RAILROAD nom thef'a
cihc Ocean across the Territories 20 couuec
with the various Eastern branches of the Pa
oihc Railroad system, and which viii form the
upon which the mighty trans-coutinental traffic
will concentrate.
The CENTRAL. PACIFIC RAILR0AD
COMPANY-who are carrying IL 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.
The Act Of Congress eonlers upon the Corpo.
ratiOns, besides the right Of way across the Ter
ritOries gift Of IL 800 acres OF the public lands
per mile, contiguous 20 this line, and IN appro,
priation from the National credit Of sixty III
LIONS in TER CENT. KoSDs, delivered a. The
work progresses; or half the estimated cost Of
the Through Line and Branches. Thcss Sub
sidy bonds the company may cancel in ac0urst
Of years by the Transportation seryices OF ths
Roads, and small per centage Of their net earn
iugs; they, therefore, constitute an element OF
great strength 70 the corporations, ]
The Act further authorizes them to issue an
equal amount Of their own Ftrst Mortgage
Bonds Of corresponding denominations, tPhieh
shall be the first claim upon the trh0IS rdilrndd prVp
eTty and % l0hich the lien Of he GOuerRncnt &hdH
b. subordinate as means Of more readily secGT.
ing the remaining half Of the capital for ths
struction the equipments, &C, being provided
ont of the capital stock subscriptions and other
sources.
The great CENTRAL Pacific RAILROAD Is there
fore In an important sense, n SEMI' NATIONAL
Work aided and commended by the people, the
Legislative power, and tho Executive officers,
though its management Is administered rim al
The care and JOrethOugh cfUe most eHfneih PTIrdtS
corporations Being under the constant super
viOiOn of the GOvernment-whO, being the prin'
cipal creditor, accepts subordinate AMI contin-
gent lien-with so large an amount Of addition.
nj capital also invested In the property pledged
IL is believed that no securities now offered in
the market possess tbs sane claims 10 conn.
dence and market value, except those oil 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 oOnveTgiug 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
diiiiCult 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 progress Of the
CENTRAL PACIFIC RAILROAD IL the remarkably
large and profitable Local Business which Ii de.
velOped upon the completed portion, more than
iustifying the estimates Of its pIojectora-that
the immense traffic between the ports Of Cali.
fOrnia and the mining regions OF the int or
would sustain q hrst-clAss railroad line even IL
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
80 that when the overland through traffic shall
be conferred upon the CENTRAL ROAD, the gen.
eral prosperity Of the company will be without
parallel, and its securities appreciated CORES.
pondingly. The GENITAL PACIFIC RAlLRsAD
COMPANY offer for sale theirFIhST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
Il . " DIS, and submit TO Investors tAe
following, among other obvious cousidora.
tons and invite the comparison with the merits
and eNcelleuoits OF any class Of Corporate 80.
Curities:
J. These Bonds arc based upon the most vital
and valuable part of the Grand National Pacific
Railroad sOOn to become the main channel Of
communication on the continent.
II. Phe local settlement and business there.
from IA remarkably large and profitable, and
must constantly increase.
III The hardest part Of the road IL now
built, and the remainder will be rapidly carried
forward over the Salt Lake Plains
" The greatest part Of the means necessary
10 build the road II provided 10y the U. 3. Gov.
eminent upon o subordinate lien.
V. The State and chief cities Of California
have contributed upward Of s3,OO0DO1 10 the
enterprise without lien.
VI. The grant OF land Il destined At an early
day 10 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 silyer-prOducing regions, and its revenues
are received in com.
VIII. The management Of this company has
been in the highest degree prudent and frugal
and interest, Ia devoted 70 construction purpo.
ses.
TX. The interest liabilities Of ihs company
are even now less than q third the net earnin q
upon the road pledged.
\. Both Prineipal and IaiSr,st arc payobk IN
Gold, under special provisions Of both National
and state enactment.
The bonds are In sans Of 1900 each. with
semi-annual gold coupons attached, and are Of
fered for sale at IS per cent. Of their par value
and accrued interest from Jan. !. adAed, N cur.
rency.
The back interest Is charged at ak per cent
in etirT.ney thouRh repaid In full in gold Al
this time they yield nearly
NINE PER CENT UPON THE TSTEST.
MEM
These bondstid fair to attain the most prom
fnent position among the nOBsYeculative IN
vestments Of the country. and win b actively
dealt in a. the Dsbeyeeutres 10 EpT0pr.
Holders Of Government securities have an 0D.
portunfty Of exchanging them for Central Pa.
eife Bonds bearing m eqezi rte Of Interest
with the principal wen secured and 81
REALIZING PROFIT OF ZEN TO YlY
TEEN PER CBEE. IN ADDIuoE