The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-10-15
Central Pacific Railroad First
Mortgage Bonds.

1t is commonly known that the General Gov.
ernmenL for wise purposes, has given its aid
/ and encouragement 10 the construction of one
MAIN THROUGH LINE OF RAILROAD from the Pa
cthc Ocean across the Territories 20 connect
with the various Eastern Branshes Of the Pa,
| chic Railroad system, and which will form the
GRAND TRUNK ROUTE 10 the Ear West
upon which the mighty transcontinental TRAFFIC
will concentrate.
The CENTRAL PACIFIC RAILROAD
| COMPANY-who are carrying IL forward with
greater energy and persistence than was ever
shown in any siplilar work in ancient or modern
| times-will buiiu, 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 a. 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.
ritores GIFT of IL sOO acres OF the public lands
per mile contiguous t. this line, and an appro-
priation from the National credit of SIKH NIL.
| LIONS in PER GENr. BONDS, delivered rs the
work progresses; or halft estimated cost OF
the Through Line and Branches These Sub
| sidy bonds the company may cancel In q course
|
Roads, and small per centage of their net earn.
| ings; they therefore, constitute an element Of
great strength 10 tho corporations.
The Act further authorizes them to issue an
| canal amount of their own First Mortgage
Bonds of corresponding denominations, lShieh
shall be the first claim upon The InhOs rdilrOdd prop
erty and % ichich the lien Of us Government shall
BE- subordinate, as a means OF more readily secur-
ing the remaining half Of the capital FOR the con.
hat Nal
out of the capital stock subscriptions and other
| sources.
The great CENTRAL Pacific RAILROAD Ia there
| fore In an important sense, a SRMI NATIONAL
WORK aided and commended by the people, the
/ Legislative power, and the Executive officers,
| though its management II administered ioth al
the care aud IOTethOttght u The most etnSt pirate
corporations. Being under the constant super
vniOn of the GOvernment-who, being the prin'
| cipal creditor accepts subordinate and contin'
| gent hen-with 80 large an amount of addition.
| nj capital also invested In the property pledged,
| IL is believed that no securities now ohorcd In
| tho market possess the sane claims Ia conn
denco and market vr!uo except those OF tho
| Government
Under these favoring auspices very gratifying
progress has been made I'm extending the railroad
track from both directions. Nearly 1000 miles
of tho Main Line and c0nNerging Branches be-
tween the Missouri River and tho base of tho
Rocky Mountains have been built within three
, years. The CENTRAL PACIFIC RAILROAD has
also steadIy and successfully carried the Main
Stem Line from the steam boat navigation of the
Pacific % 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
with tho Eastern lines being effected In 1870
amount almost TO certainty.
The prominent feature In tho progress Of tho
CENTRAL PA IFIC RAILROAD II tho remarkably
large and profitable Local Business which Ia do.
velOped upon tho completed portion, more than
iustlrylnE tho cstimato- Of itS ptoiectOrs-that
} the immense traffic between the ports Of Calf
fornia and the mining regions of the inter or
would sustain n 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 win 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 arc increased.
40 that when the overland through traffic shall
be conferred upon the CENTRAL ROAD, the gen.
eral prosperity Of tho company will be withoue
parallel, and its securities appreciated cores
pondngly. The CENTRAL PACIFIC RliLHSAD
CoNPANY offer for sale therFIIST MORTGAGE
THIRTY YEAR SIX PR CENT. GOLD
BONDS, and submit Ia Investors the
following, among other obvious cOnsidsra-
tons; and invite the comparison with the merits
and eIcellonciss Of any class OF Corporate 80.
0urities:
l. These Bonds are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad soon 20 become the main channel Of
communication on the continent
H. The local settlement and business there.
from In remarkably large and profitable, and
must constantly increase.
III The hardest part Of the road il now
built, and the remainder will be rapidly carrie
forward over the Salt Lake Plains.
". The greatest part Of tho means necessary
to build the road il provided by the y. >. Gov
eminent upon n subordinate lien.
V. The State aud chief cities Of California
have contributed upward Of tJ,0OO0OO b. the
enterprise without lien.
VI. The grant Of land IL destised AZ an early
day 70 prove Of far greater market Valne than
the total Of the first mortgage bonds Issued
upon the road aud equipments.
VII. This road lies altogether among the gold
and slvsr.producing regions, and its revenues
are received Ia 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, Is devoted 10 construction purps-
Sea.
TX. The interest liabilities Of the company
are even now les than third the net earRinE.
upon the road pledged.
\. Both Principal and Tnterez are poyaI1 IN
Cod, under special proyisiOns Of both National
and STATE enactment.
The bonds are In sums Of 1900 each, with
semi mammal gold coupons attached, and are Of
fered for sale AZ - per cent Of their par value
and accrued interest from Jan. ], Adsed, In cur
4 rency.
!, The hack interest ia charged At siI per cent
|, in ,lrTrSneg. though repaid In full IN 1otd.
!. this time they yield nearly
! VINE PER CENT. UPoS THE NVESr
KgYT
Thee bonds bid fair N attain the most prom.
ipsnt position zmOng the representative In.
vestInsnts Of tho country. and will be S9tiVely
dealt in AZ the msnsy osBtrss In Europe.
Holders Of Government securities have an 0t,-
portBnity Of exchanging them Tor Central Pa
oife Bonds bearing an equal rate 81 interest
with the principal well secured, and Of
REALIZING 4 PROFIT or TEN TO YIF
= TEEN PER CENT IN ADDITION.
III 0rders sent With the funds through respohxi
bic Banks or Express Companies Will receive
prompt attention. Bonds ssnt BY return "a
90 pres 20 any address In the United stats ~
our cost Information. Descriptive Pampniss,es.