The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-05-12

Central Pacific RaiIrOnd First
Mortgage Bonds.
! Its commonly known that the General Gov.
eTnmout, for wise purposes, has given its aid
and encouragement 10 the construction OF one
lLAIN THROUGH LINE or RAILROAD frOm the Pa.
! Cihc Ocean across the Territories u connect
with the various Eastern BIanshes OF the Pa,
cific Railroad system, 5ni which win form the
! GRAND TRUNK ROU III TO the Far West,
upon which the mighty transcontlnental traffic
/ VIII concentrate.
| The CENTRAL PACIFIC RAILROAD
! COMPANY-whO arS carrying IL forward with
| greater energy and persistence than was ever
shown il any siP'ilar work ia ancient or modern
! times-will bUi'I, 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 ~ possessing
the richest franchise ever granted on this cont.
nCnt.
/ The Act ofCOngress conters upon the Corpo
! ratiOns besides the right of way across the Ter
I
! per mile, contiguous 10 this line, and Gu appro
! priati0n from the National credit of sixty NIL.
LIONS in g FER CENT. RONDS, delivered the
work progresses; or half the estimated cost of
the Through Line and Branches. These sub
! sidy bonds the company may cancel in a csutse
of years by the Transportation services Of the
| Roads and small per centage of their net earn
| ings: they therefore, consulate 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, tchich
shall be the first claim upon the tchOle railroad prop
erty and % tchich he lien Of he Government shall
be subordinate a. a means OF more readily seCur
Ing the remaining half of the capital for the coll
| structiOns the equipments, &c, being provided
| out of the capital stock subscriptions and other
sources.
The great CENTRAL PACIFIC RAILROAD is there
| fore in au important sense, q EMi'NATIONAL
| WORK aided and commended by the people, the
| legislative power, and the Executive officers
! though its management Is administered Ulh al
ne care and t0rethOugh u the most eminent pirate
| corporations. Being under the constant super
vision of the GOvernment-whO, being the priu
| Cipal creditor accepts subordinate and cOntin
| gent lien-with 50 large an amount ui addition.
al capital also invested in the property ple'l2ed
| il is believed that no securities now offered Ia
the market possess the sane claims to conf
dence and market value, except those Of tue
! Government,
| Under these favOrng auspices very gratifying
progress has been made III extending the railroad
| track from both directions. Nearly TOO miles
| of the Main Line and csnverging Branches lie
tween the Missouri River and the base OF the
| Rocky Mountains have been built within three
years. The CENTRAL Pacific GAILROAD has
also steadily and successfully carried the Main
Stem Line from the steamboat navigation OF the
| Pacific to the summit of the Sierra Nevada, aud
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 1870
amount almost 10 certainty.
The prominent feature in the progress Of the
| CENTRAL Pacific RAILROAD Is the remarkably
| large and profitable Local Business which is de
| velOped upon the completed portion, more than
iustiiying the estimates of its pIOleC tUrs-tbat
the immense traffic between the ports Of Cali.
| fOrnia and the mining regions Of the int OF
would sustain tirst-Class railroad line, even II
the overland connections were not built. The
not profit upon operating the link Of less than
| one hundred miles, thus far reashes nearly two
millions in gold and this ratio will 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 pITt 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 RAILROAD
| COMrAYY offer for sale theirFIkST MORTGAGE
| THIRTY YEAR SIX PER CENT. GOLD
BOZ DIS, and submit to Investors tie
following among other obvious considcra-
! tions; and invite the comparison with the merits
and eXcellencits Of any class OF Corporate 80.
gurities:
/. These Bonds 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 aud business there.
| from is remarkably large and profitable, aud
must constantly increase.
III. The hardest part Of tho road il now
! built and the remainder will bo rapidly carried
forward over the salt Lake Plains.
". The greatest part Of the means necessary
To build the road Is provided by the L. s. Gov
eminent upon a subordinate lien.
V. Tie State and chief cities of California
have contributed upward Of J,OJJ,UO 90 the
enterprise without lien.
VI. The giant OF land is destiEed At an early
day 10 prove Of far greater market value than
the total Of the first mortgage bonds issued
upon the road and equipments.
VII This road lies altogether among the goli
and silver.prOducing regions, and Its revenues
are received in coin.
VIII. The management OF this company hai
been in the highest degree prudent and frugal
and the whole surplus, after payment OF expense
and interest Is devoted 10 construction purpo
ses.
TX. The interest Liabilities Of the company
are even now less than third tie net earning
upon the road pledged.
\ Both Principal d5Dd Interoa are g,qydJL, Is
Gold under special provisions Of both Eationa
and state enactment.
The bonds are 10 sums Of iiCOJ each, will
semi-annual gold coupons attached, and are Of
fered for sale at IS per cent. Of their par value
accrnad nj from Ian I Aided. in FuT