The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-05-04
Central Pacific Railroad First
Mortgage Bonds.

Ii is commonly known tina. the General Gov.
ernm0ut, for wise purposes, has given its aid
and encouragement TO the construction OF one
MAIN THRoUGH LINE OF RAILROAD nom the Pa
cifo Ocean across the Territories % connect
with the various Eastern Branshes OF the Pa
cific Railroad system, and which will form the
GRAND TRUNK ROUTE 10 the Far West,
upon which the mighty transcontinental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
CONPANY-who are carrying IL forward with
greater energy and persistence than was ever
shown In any siTNilar work in ancient or modern
tiInes-Will bull, 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 rs possessing
the richest franchise over granted on this CONT.
nent.
The Act Of Congress confers upon the COrpO-
rations besides the right Of way across the Ter
rtores n gift Of - sou acres OF the public lands
per mile, contiguous TO this line and en- apprO
priatiOn from the National credit OF sixty NIL
LIONS In FER CENT. BONDS, delivered a. the
work progresses; or half the estimated cost Of
the Through Line and Branches. These Sub
sidy bonds the compsny 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 70 the corporations
The Act further authorizes them TO issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, lrhieh
shall be the first claim upon the l0hOlS railroad prop
erty aud 10 lohieh the lien Of ne Government shda
be subordinate, a. a means OF more readily secur-
ing the remaining half of the capital for the con.
struction; the equipments, "a, being provided
out Of the capital stock subscriptions and other
sources.
The great CENTRAL Pacific RAILROAD is there
fore in an important sense, sEN'NAIIOSAL
WORK aided and commended by the people, the
Legislative power and the Executive officers,
though its management is administered NTH al
he care aud J0rethOttgh Of The most eminent pr'rdtS
oorpoTatiOnS Being under the constant super
yiOiOn of the GOvernment-wh0, being the prtn'
cipal creditor, accepts n subordinate and contin.
gent lien-with 50 large an amount Of addition
al capital also invested ~ the property pledged
it is believed that no securities now offered In
the market possess the sane claims to conf
dence and market value, except those Of the
Government.
Under these favoring auspices very gratifying
prOgress has been ? ade in extending the railroad
track from both directions Nearly 1000 miles
of the Main Line and cOnyerging Branches b..
tween the Missouri River end the base ot 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 Call.
fOrnia line. Having overcome by far the most
difficult and expensive portion OF the whoe
line, the probabilities Of the through connection
with the Eastern lines being effected in 1870
amount almost TO certainty.
The prominent feature in the progress Of the
CENTRAL PACIFIC RAILROAD IL the remarkably
large and profitable Local Business which IL de-
veloped upon the completed portion, more than
iustifying the estimates of it, pIoieCtOrs-that
the immense traffic between the ports of Cali
fornia and the mining regions Of the int or
would sustain a fTst-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
mountaiR transit IA made by the 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 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 RAILROAD
CoHPASY offer for sale theirFlISST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
BONDS, and submit TO Investors TIE
following, among other obvious cOnsidera.
tiOns; and invite the comparison with the merits
and e1ceIlenciss Of any class Of Corporate sc.
eurities:
]. These Bends are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad, soon 10 become the main channel OF
communication on the continent.
II. The local settlement and business there,
from il remarkably large and profitable, and
must constantly increase.
III. The hardest part Of the road IN now
built, and the remainder will be- rapidly carried
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
10 build the road Is provided by the U. 5. Gov
eminent upon subordinate Hen.
V. Ike State and chief cities Of California
have contributed upward Of D,OOOOOp to this
enterprise without lien.
VI. The giant Of land IL destined at an early
day to prove Of far greater market value THAI
the total Of the first mortgage bonds issued
upon the road and equipments.
VII This road lies altogether among the gold
and silver'produclng regions aud it, revenues
are received in coin.
VIII. The management Of this company hti
been In tho highest degree prudent and frugal
and the whole surplus, after payment OF eEpenS'
and interest, Is devoted TO construction purpO
sea.
TX. The interest liabilities Of the company
are even now lees than a third the net earning
upOn the road pledged.
| \. Both Principal and IntSyea are pdydJL Il
odd under special provLsions Of both SattOna
I and state enactment
| The bonds are in sums Of 1900 each. witt
semi-annual gold coupons attached and are Of
fered for sale At 95 per cent. Of their par value
and accrued interest from Jan. !. adaod, In cur
rency.
| The back interest Il charged at six per cent
/ In currency though repaid In full in gOd
this time they yield nearly
VINE PER CENT UPOY THE TYTES1
HEST
These bonds lid fair 20 attain the most STOu
inent pOSitiOn among the R0nspeeulatiVe II
vestments Of the country, sod viii be astivsl
dealt IN az TIE msney- centres in Europe.
Holders Of Government securities have an q
portunity Of exchanging them for Central r
citie Boads bearing an e0uzl rate Of iBtsres
with the principal well secured and Of
REALLZIYG 4 PROFIT or TEN TO III
TEEN PER CENT. IN ADDITION