The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-07-24
Central Pacific Railroad First
Mortgage Bonds.

-
II Is commonly known that the General CT y.
eminent, for wise purposes, has given its Aid
and encouragement 10 the construction of one
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 win form the
upon which the mighty transcontinental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
are carrying 10 forward with
greater energy and persistence than was ever
shown In any similar work In ancient or modern
nmes-wiIl erLa EQUIP own and control the
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 cOnfers upon the Corpo-
rations, besides the right of way across the Ter.
gift of 10 sOO acres OF the public lands
per mile contiguous to this line and an appro.
priatiOn from the National credit OF sixty MIL
LIONS i'll 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
ings they, therefore, consulate 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, tchich
shall be the first claim upon The iphOIf railroad prop
cTty, aud ~ WhIoh The lien Of The Government shall
be subordinate, as n means Of more readily secur.
ing the remaining half Of the capital for the con.
atr1ta M - mn To hAtnH la.l
out of the capital stock subscriptions and other
sources.
The great CENTRAL PAcIFIe RAILROAD Is there
fore, In an important sense, q SEMINArIoSAL
Work, aided and commended by the people, the
Legislative power, and tho Executive officers,
though its management IL administered 9th al
TIC care and JorethOugh Of The most emiHeBt prrd,e
Being under the constant super
vinion Of the G0yernment-who, being the prin'
cipal creditor, accepts subordinate and c1ntn.
gent lien-with 10 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 cont
dence and market value, except those Of the
Government
Under these fayoring auspices very gratifying
progress has been made In extending tho railroad
track from both directions. Nearly 1000 miles
of the Main Limo and csnverging Branches he
tween the Missouri River and tho haso of the
Rocky Mountains have been built within three
years. Tho CENTRAL Pacific RAILROAD has
also steadily and successfully carried tho Main
Stem Line from the steamboat navigation Of the
Pacific tn 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
limo, the probabilities Of the through connection
with the Eastern lines being effected in lsiO
amount almost TO certainty
The prominent feature in tho progress Of the
CENTRAL PA IFIc RAILROAD Ia the remarkably
i--~a aPd praitable Local Business which IA do
velOped upon tho completed portion, moru than
Iustifying the estimates Of its pI0ject0rs-that
tho immense traffic between the ports Of Cali.
fornia and the mining regions Of tho int or
would sustain tlrst.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 geld; and this ratio will be doubled
during tho coming season, when tho entire
mountain transit Is made by tho locomotive
With every extension of the track, the business
and profits Of the completed part are increased
so 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 cOrros
COMPASS offer for sale theirFiEST MoRTGA y
THIRTY.YEAR SIX PER CENT. GOLD
ID =, D. anu snohiIt 70 Ih'es.ors .."f
,Snn.a a oon"r S on gi,h ,Sn n'n,t,,
and excellenci.s Of sny class Of Corporate sc
aurities:
Tbasa pord. am has.d ma, ,ha ,no.t vita
and ,.ainshie ma - nf ,bs C.rand National pacias
RaiIroaS soop 10 become The main channel o,
Observation-Disclosures on the cnutInent
IT Tho local scttIemont and bu.Ines. tber
fron, q remark.hIv Iargc and nrodta allie anf
must Constantly increaas,
TIT rho h,rd.., mar, ~ Tim ro,a {. nox
III. Ia ar .e'ooi,SSar iii 10 r,nIdiv c.,,ie,
49,, =, -I' go a.. S,It T sta Plains
~ The orea,as, mart Of the mean, naoea.ar,
=. hn,ld ths ,oad 4. providod by the r. =. Gov
s ~ U 49,, = snbordinate Men
''''' "P
V Tho S,..a and chief cite. Of Califorui,
sntcrn1jse WitSoat len
VT Tho sr,r, NJ land &. do.,iued n, an carl,
upon the road and equipments.
ii ms , r%In me- rasIDns IA ~. ,ersSus 1
VII Inc management OF thh .ongAnJ "a
Den IN .ns p',, ~. ~ 80.
anu the Hho'S sui Plu., s'.' p a9 -.
ana interest, y neNV'od 70 ""nStfu'''oh pup
ses
" III tr,.-o., ii.h;v,te. n, thu eo,p,an,
ar. aycr nov io.a than a third III. net earIling
X. Both PrineipaI and La,,r,st az, ,,ayatl,i :
leISu ~. 80, ,-o,n lar adJSd In cur
an - - wv ''''
feIcy'
The back interest Is ehaiSed ~ slk PEI cen
! in currency. though repaid IN ini IN J"d.
tllis time they yie'h heaf'S