The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-09-03
Central Pacific Railroad First
Mortgage Bonds.

1t is commonly known that the General Gov.
ernmGnt, for wise purposes has given its aid
and, encouragement TO the construction Of one
MAIN THROUGH LINE OF RAILROAD from the Pa.
cifc Ocean across the Territories TO connect
with the various Eastern Branshes Of the Pa.
cifc Railroad system, and which will form the
GRAND TRUNK ROUTE to the Far West,
upon which the mighty transcontinental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
C0MPANY-who are carrying IL forward with
greater energy and persistence than was ever
shown IN any siD,ilar work in ancient OF modern
times-will buitn, 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 oonfers upon the Corpo-
rations, besides the right Of way across the Ter.
gift Of ~ 500 acres OF the public lands
per mile contiguous 10 this line and an appro-
priation from the National credit Of sixty NIL
LIONS in PER CENT. BONDS, delivered as the
work progresses; or half tho estimated cost OF
the Through Line and Branches. These Sub
sdy bonds the company may cancel in csurse
of years by the transportation services Of the
Roads, and q 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, iohich
shall be the first claim upon The tchoLe railroad prop
erty and 10 tcIich the lien Of the Government shall
be subordinate, as q 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 and other
sources.
The great CENTRAL Pacific RAILROAD is there
fore in an important sense, a SEMI NATIONAL
WORK, aided and commended by the people, the
Legislative power, and the Executive officers,
though its management Ia administered toih al
the care aud JOretkouJ Of The most eminent pirate
corporations. Being under the constant super
vision Of the GOvernment-who being the prin'
cipal creditor, accepts subordinate and contin.
gent lien-with so 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 20 conn.
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 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 tho mos,
difficult and expensive portion OF the whole
Il. r . a. ttsaV
with tho Eastern lines being effected in is7C
amount almost TO certainty.
The prominent feature In the progress Of thu
CENTRAL PA TFIC RAILROAD is the remarkably
large and profitable Local Business which ia do
veloped upon the completed portion, more thar
justifying the estimates of its pIoiectors-thai
the immense traihc between the ports Of Cali
fornia and the mining regions of the int'' OF
would sustain first-Class railroad line, even i
the overland connections were not built. 1h'
net profit upon operating the link of less THAI
one hundred miles, thus far, reashes nearly i've
millions in gold; and this ratio will be doubled
during the coming season, when the entir'
mountala 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
DO oentered upon the CENTRAL ROAD, the gen
erai prosperity Of the company will be withou
parallel, and its securities appreciated CORES
pondinEy. The CENTRAL Pacific RAlLReA
COMPANY offer for sale theirFIkST MORTGAGE
THIRTY YEAR SIX PER CENT. COLI
BONDS, and submit 10 Investors IN
following, among other obvious cOnsidera
tons; and invite the comparison with the merit
and eKcellencies Of any class OF Corporate ~
eurities:
I. These Bonds are based upon the most vita
and valuable part Of the Grand National Pacih
Railroad. soon TO become the main channel q
communication on the continent.
III. The local settlement and business Their
from Ia remarkably large and profitable, an
must constantly increase.
I'LL The hardest part of the road Is nov
built and the remainder will be rapidly carrie
forward over the Salt Lake Plains.
". The greatest part Of the means necessar
| to build the road is provided by the L. :. Coy
eminent upon a subordinate lien.
V. The State and chief cities Of CalifOrni
have contributed upward Of sJOO0OO 60 th
enterprise without lien.
VI. The grant Of land Is destined at an earl
day TO prove Of far greater market valne tina
the total Of the first mortgage bonds Issue
upon the road and equipments
and silver producing regions, and its revenue
are received in coin.
| VIII. The management Of this company la
been in the highest degree prudent and fruga
| and the whole surplus, after payment OF eIpen'
and interest, Is devoted TO construction purp
ses
TX. The interest liabilities OF the compan
are even now les thaa q third the net earpihI
upon the rad pledged
X Both Principal and JIa>r1a are poydIk
god, under special provisions ID both Nstioh
and State enactment
The bonds are in sums Of 1900 each, wi
semi-aunuAl gold coupons attached, and are {
fered for sale at IS per cent Of their par VAN
and accrued interest from Jan. j. aasoa' III eU
rency.
The hack interest Is charged at ak per esi
in rtrTeney, though repaid In full In god
this tine they yield nearly
NINE PER CENT. UPON THE I5FEl
MEYT
These bonds I'D fair 30 attain the most pro
inent position among the DOnspeeulAtiye
yestmspts Of the country, and VIII be zstiyi
dealt In At the nsBey centres in Europe.
Holdsrs Of Government securities have an
portunity OF exchanging them for Central
cife Bonds bearing an eqnal rate Of iHtsfe
with the principal well secured and OF
REALIZING A PROFIT or TEN TO "
TEEN PER CENT ~ ADDITION
o,dsr. sept With the funds through IespO'
has Rspks or Express Companies WI rece
.o,-nt attention. Bonds sspt BY return