The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-02-20
Central Pacific Railroad First
Mortgage Bonds.

Mortgage Bonds.
1t 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
cific Ocean across the Territories 10 connect
with the various Eastern branches OF the Pa
citic 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 ii forward with
greater energy and persistence than was ever
shown In any similar work in ancient or modern
times-will build 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 confers upon the COrpO-
rations, besides the right of way across the Ter.
ritories gift Of II sou acres OF the public lands
per mile, contiguous to this line, and Sn appro-
priation from the National credit Of sixty MIL
LIONS in 6 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 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 to the corporations.
The Act further authorizes them TO issue an
equal amount Of their own First Mortgage
Bonds of corresponding denominations, 'chieh
shall be the first claim upon the trhOte railroad prop.
erty, and 10 rhich the lien Of The Government shall
be subordinate IA a means of more readily secur-
ing the remaining half of the capital for the con.
stTuction; the equipments &c, being provided
ont of the capital stock subscriptions and other
sources.
The great CENTRAL PACIFIC RAILROAD is there.
fore in an important sense, a SENINATIoNhL
WORK aided and commended by the people, the
l. Legislative power, and the Executive officers,
though its management il administered "th az
the care aud GorethOught Of the most eminent prrdte
cOrDOrdtiOns Being under the constant super
vision of the Government-whO, being the prln'
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 III
the market possess the sane claims to conh.
dence and market value, except those oi m"
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 De
tween the Missouri River end the base oil the
Rocky Mountains have been built within three
wears. The CENTRAL Pacific RAILROAD mas
also steadily and successfully carried the Main
Stem Line from the steamboat navigation OF the
Pacific tn the summit of the Sierra Nevada, ana
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 i-1o
amount almost to certainty.
The prominent feature in the progress OF the
CENTRAL Pacific RAILROAD is the remarkably
large and profitable Local Business which is de.
veioped upon the completed portion, more than
iustifying the estimates of its pIoiectOrs-that
the immense traffic between the ports of Cali
fornia and the mining regions of the intel or
would sustain tirSt-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 lar, reaches nearly two
millions in gold; and this ratio will he 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 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 CORES
pondingly. The CENTRAL PACIFIC RMLR@ y !,
COMPANY offer for sale theirFIkST MORTGAGE
THIRTY. YEAR SIX PER CENT. GOLD
BONDS, and submit to Investors the
following among other obvious cORsidera.
tions; and invite the comparison with the merits
and eIcellencies of any class OF Corporate Sc.
curities:
/ These Bends are based upon the most vital
and valuable part of the Grand National PACING
Railroad soon 10 become the main channel OF
communication on the continent.
II. The local settlement and business there.
from is remarkably large and profitable, anu
must constantly increase.
III The hardest part of the road Ia now
built, and the remainder will be rapidly carried
forward over the Salt Lake Plains.
". The greatest part of the means necessary
to build the road is provided by the o. ;. Gov
eminent upon n subordinate lien.
V. The State and chief cities Of California
have contributed upward Of S3OO0OOO To the
enterprise without lien.
s,,,. ,..,i.a =. -. oorr,
day 10 prove of far greater market value than
the t tss rS % t and e e6mipments.
VII. This road lies altogether among the gold
and silver-producing regions, and its revenues
are received in coin.
VIII The management of this COMPANY has
hasr in the highest degree prudent and frugal
and the whole surplus after payment Of expense
an5 interest Ia devoted 10 construction purpO-
c.
IX. The interest liabilities of the company
n,, ,,,.,.., mr., ,,o,,,,,, il,
ana ''A'e 0"'' ~
fered for sale at 70 per cent, OF thelt par naie'
and accrued interest from JAN l. "uHe"' ~ 'ui
rency.