The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-02-13
Central Pacific Railroad First
Mortgage Bonds.

II ia commonly known that the General Gov;
eminent for wise purposes, has given us Alu
and encouragement TO the construction OF one
MAIN THROUGH LINE OF RAILROAD from the IA.
cific Ocean across tho Territories 10 oSnnecl
with the various Eastern Branshes OF inc "a
cific Railroad system and which will form the
GRAND TRUNK ROUTE to the Far West
upon which the mighty trans-continental tratnc
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-whO are carrying II forward win
greater energy and persistence than was ever
shown in any similar work in ancient or modern
times-WiIl 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 possesslng
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 LET
ritories gift of - 500 acres Of the public lands
per mile, contiguous to this line, and en- appro-
priation from the National credit of SIXTY MIL
LIONS in PER CENT. BONDS delivered as the
work progresses; or half the estimated cost oil
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 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, 'rhich
shall be the first claim upon TIE iphoLe railroad prop
erty and 10 IcAich the lien Of the Government shdH
be subordinate, a. a means of more readily secur-
ing the remaining half of the capital for the con
stTuctiOn: the equipments, &c, being provided
ont of the capital stock subscriptions and other
sources.
The great CENTRAL PACIFIC RAILKOAp is there.
fore in an important sense, SRhlNAIlONAL
WORK, aidOd and commended by the people, the
Legislative power, and the Executive officers.
though its management is Administered uith dtI
the care aud forsthOught Of The most eminent pirate
corporations. Being under the constant super
vision of the GOvernment-who being the prln'
cipal creditor, accepts a subordinate and cOntln'
gent lien-with 40 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 sane claims TO comb
dence and market value. except those OF the
Government.
Under these favoring auspices very gratifying
progress has been made in extending the railroad
L
of the Main Line and conyerging Branches be-
tween the Missouri River and the base of the
Rocky Mountains have been built within three
years. Tho 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
It III. Il I.-n
amount almost to certainty.
The prominent feature in the progress Of the
CENTRAL PACIFIC RAILROAD is the remarkably
large and profitable Local Business which is de.
velOped upon the completed portion, more than
iustifyinR the estimates of its professionalism
the immense traffic between the ports Of Cali
fOrnia and the mining regions Of the inttI 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
30 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
IL
CoNPASY offer for sale tbeirFIEST MORTGAGE
THIRTY. YEAR SIX PER CENT. GOLD
ioII, anu suI h 10 investors s,, I've
tiors anS ;n,i,o LII, tpa n'npt.
i anu ~ .Io ii.o' .o
curities:
J. These Bends are based upon the most vital
and valuable part of the Grand National Pacific
Railroad, soon 20 become the main channel Of
on the continent
II. The local settlement and business there.
from is remarkably large and profitable, and
must constantly increase.
III. The hardest part Of the road ia now
built, and the remainder will be rapidly carried
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road ia provided BY the @. s. Gov
eminent upon a subordinate lien.