The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-08-26

It is commonly known that the General Gov.
ernmsnt for wise purposes, has given its aid
and encouragement TO the construction of one
MAIN THROUGH LINE OF RAILROAD from the Pa.
citc Ocean across the Territories 10 connect
with the various Eastern Branches of the PA.
cihc Railroad system, and which will form the
GRAND TRUNK ROUTE TO the Far West,
upon which the mighty trans'continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-who are carrying IL forward with
greater energy and persistence than was ever
SHOWN IN any slRlilar work in ancient OF modern
times-will bni.r, 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 conters upon the Corpo-
rations, besides the right OF way across the Ter.
ritories gift of II $40 acres of the public lands
per mile contiguous 10 this line and an appro.
priatiOn from the National credit OF SIXTY MIL.
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 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 10 issue an
equal amount Of their own First Mortgage
Bonds of corresponding denominations, Gohich
shall be the first claim upon the oAOe railroad prop
crty, and 10 iChieh tie lien Of The Government shall
be subordinate, as o 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 aud other
sources.
The great CENTRAL Pacific RAILROAD Is there
fore, in an important sense, q SEAI-NATIONAL
WORK. aided and commended by the people. the
power, and tho Executive officers
the care and JOrethOtiJh Of The aiHet pirate
Being under the constant super
vision of the Government--who, being the prin.
Cipal creditor, accepts subordinate and COntln.
gent lien-with 30 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 10 cOnti.
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 he.
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 tine summit of the Sierra Nevada, aud
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 the Eastern lines being effected In $50
amount almost tO certainty.
The prominent feature In the progress Of the
CENTRAL PA TIC RAILROAD In the remarkably
large and profitable Local Businoss which In de.
velOped upon the completed portion, more than
justifying the estimates Of its ptojectOrs-that
the immense traffic between the ports Of Cali
fOrnia and the mining regions OF the int,i or
would sustain q first-class railroad line, oven 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 IL made by the locomotive
With every extension Of the track, the business
and profits of the completed part ars increased
40 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 CORES
pOndingly. The CENTRAL PACIFIC RAILReAD
COMPANY offer for sale theirFlhST MORTGAGE
THIRTY. YEAR SIX PER CENT. GOLD
BON DIS, and submit 10 Investors the
following, among other obvious oOnsidera-
lions; and invite the comparison with the merits
and excellencies Of any class of Corporate se
eurities:
T. These Bends are based f,on the most vital
and valuable part of the Grand National Pacific
Railroad. soon to become the main channel OF
communication on the continent.
II. The local settlement and business Their e
from il remarkably large and profitable, an 4
must constantly increase.
III. The hardest part Of the road Is 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 Ii provided by tho L. 5. Gov
eminent upon a subordinate lien.
V. The State and chief cities OF CalifornIS
have contributed upward Of t3,O00,OO0 TO the
enterprise without lien.
VI. The grant Of land Is 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 silver. producing regions, and It's revenues
are received In coin.
VIII The management Of this company ha
been in the highest degree prudent and frugal
and the whole surplus. after payment Of expens'
and interest, is devoted to construction purpe
ses.
TX. The interest liabilities Of the company
are even now less than third the net ezrbing
upon the road pledged.
X. Both Principal and Interer are pdvaJL> 81
God. under special provisions Of both SatiOna
and State enactment.
The bonds are in sums sf 5000 each, will
semi. annual gold coupons attached, and are Of
fered for sale at % per cent Of their par value
and accrued interest from Jan. !. adacd, IN cur
reney.
The hack interest Is charged at ak per cen
in currency. though repaid In fall in gold. A
this time they yield nearly
NINE PER CEy1. UPOy THE IyVEsl
MEST
These bonds bid fair TO attain the most prOn
inent position among the nOnspeculAtiye u
yestDents Of the country, and vii be astiyel
dealt In at the fasney-oeptres in Europe.
Holders Of Government securities have An q
pOrtunity OF exchanging them for Central y
eifie Bonds bearing an equal rate OF interes
with the principal well secured, and OF
REALIZING A PROFIT or TEN TO III
TEN PER CENT IN ADDITION
Orders mt with the funds through respon'