The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-09-16
central Pacific Railroad First
Mortgage Bonds.

Mortgage Bonds.
It Is commonly known that the General Gov.
ernmont, 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 TO connec,
with the various Eastern branches of the Pa
citic Railroad system, and which will form the
GRAND TRUNK ROUTE 10 the Far West
upon which the mighty trans-continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-who are carrying 1t forward with
greater energy and persistence than IVES ever
shown In any siRdlar work in ancient or modern
times-will bui,n, equip, own and control the
Western Half Of this Through Line. the most
productive, favored, and valuable portion Of the
whole. and may Justly DO regarded a. possessing
the richest franchise ever granted on this cont.
nent.
The Act Of Congress conters upon the Corpo
rations, besides the right Of way across the Ter
ritories gift Of 10 800 acres Of the public lands
per mile, contiguous to this line, and an appro-
priation from the National credit of sixty MIL
i
work progresses; or half tho estimated cost OF
the Through Line and Branches. These Sub
sidy bonds the company may cancel In n course
Of years by the Transportation services of the
Roads, and 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 m
equal amount OF their own First Mortgage
Bonds of corresponding denominations, tohieI
shall be the first claim upon The Uhoie railroad prop
erty and 10 tohieh the lien Of The Government shall
be subordinate, as means of moro readily secur
ing the remaining half of the capital for the con
out of the capital stock subscriptions and other
sources.
The great CENTRAL pacific RAILROAD Ii there
fore, in an important sense, q SEMI AToNAL
WORK, aided and commended by the people, the
Legislative power, and the Executive officers
though its management Is administered NTH al
the care and JorethOugh Of the most eminent pvirat,
corporations. Being under the constant super
viOion Of the Government-who, being the prin
cipal creditor, accepts subordinate and contin
gent lien-with 80 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 to conh
dence and market value except those Of the
Government.
Under these fayoring auspices very gratifying
progress has been made In extending the railroad
track from both directions. Nearly 1000 mile,
of the Main Line and cOnverging Branches be
tween the Missouri River and the base Of tn,
Rocky Mountains have been built within tire,
years. The CENTRAL Pacific RAILROAD hal
also steadily and successfully carried the MAR
Stem Line from the steamboat navigation of tn,
Pacific to the summit Of the Sierra Nevada, an,
into the Great Salt Lake Basin east Of the Call
fornia line. Having overcome by far the mos
difficult and expensive portion of the Who'll
line, the probabilities of the through connection
with tho Eastern lines being effected In ls7
amount almost TO certainty.
The prominent feature In the progress Of tn
CENTRAL PA TIC RAILROAD il the remarkably
large and profitable Local Business which In de
yeloped upon the completed portion, moro thai
iustifying the estimates of its pIojectors-tha
the immense traffic between the ports Of Cal
fornia and the mining regions Of the int,I O
would sustain trst-class railroad line, even
the overland connections were not built. Tn
net profit upon operating the link Of less tina
one hundred miles, Thus far. reaches nearly tw
millions in gold; and this ratio will be double
during the coming season, when the ontir
mountain transit Ia made by tho locomotive
With every extension Of tho track. the bushes
and profits of the completed part are increased
80 that when the overland through traffic sha
BIO centered upOn the CENTRAL ROAD, the ger
eral prosperity Of the company will be withou
parallel, and its securities appreciated CORES
pondingly. The CENTRAL Pacific RAILReA
COMPANY offer for sale theirFIKST MORTGAGE
THIRTY.YEAR SIX PER CENT. COLI
BOZ DS and submit TO Investors ~
following among other obvious considers
tons; and invite the comparison with the merit
and excellencies Of any class OF Corporate n
Gurities
]. These Bonds are based upon the most Wit.
and valuable part Of the Grand National Pacif
Railroad. soon to become the main channel {
communication on the continent
ii. The local settlement and business Their,
from Ia remarkably large and profitable, an
must constantly increase.
III. The hardest part Of the road Is mo-
built, and the remainder viii DO rapidly carrie
| forward ever the Salt Lake Plains
". The greatest part Of the means necessar
/ 10 build the road II provided by the L. 5. Go
eminent upon a subOrd iDate lien.
! V. The State and chief cities Of Californ
have contributed upward Of q, 0O0, 900 10 u
enterprise without lien.
VI. The grant Of land Ii destined at an earl
! day TO prove Of far greater market value tia
the total Of the first mortgage bonds issue
upon the road and equipments.
VII. This road lies altogether among the gol
and silver. producing regions, and Its revenu
are received in coin.
! VIII. The management Of this company b
been in the highest degree prudent and frug'
and the whole surplus, after payment OF eIpen
and interest, is devoted 10 construction pup
ses.
TX. The interest liabilities Of the eompai
are even now less than . third the net earnin
upon the road pledged.
x. Both Principal AID Interet are payatt>
COL. under special provisions Of both Nation
and State enactment.
The bonds are in sums OF 5000 each, vi
semiaunual gold coupons attached, and are
fered for sale at IS per cent Of their par Vail
and accrued interest from Jan. ], ADDED, In CT
rency.
The hack interest IL charged at six per ee
In currency though repaid In iun ID gcsd-
this time they yield nearly
NINE PER GEM. UPON THE IgVE.
NRHT
These bonds bid fair to attain the most PR
inent position among the p0n1peculstive
yestmeats Of the country, and will be astiy
dealt in at the msney -ceDtres in Europe
Holders Of Government securities have an
portuDity Of exchanging them for Central
cifie Bonds bearing an equal rate OF tnter'
with the principal well seeured, and OF
REALIZING 4 PROFIT or TEN TO y