The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-06-17
Central Pacific Railroad First
Mortgage Bonds.

1t is commonly known that the General Gov.
eminent, for wise purposes has given its aid
and encouragement TO the construction Of one
MAIN THROUGH LINZ OF RAILROAD from the Pa
cihc Ocean across the Territories 10 connect
with the various Eastern branches OF the Pa
cifc Railroad system, and which viii form the
GRAND TRUNK ROUTE to the Far West,
upon which the mighty traRs'cOntinental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
! C0MPANY-whO are carrying IL forward with
greater energy and persistence than was ever
shown in any siRlilar work In ancient or modern
times-will buila, equip, Owu 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.
rtores, gift Of Il, 800 acres Of the public lands
per mile, contiguous TO this line, and En appro.
prAtion from the National credit of SIXTY MIL
LIONS in PER CENT. BONDS, delivered rs the
work progresses; or half tho estimated cost OF
the Through Line and Branches These Sub
sidy bonds the company may cancel in a course
Of years by the Transportation services Of the
Roads and small per ceDtage Of their net earn
ings; they, therefore, constitute an element OF
great strength 10 the corporations.
The Act further authorizes them 10 issue an
equal amount Of their own First Mortgage
Bonds of corresponding denominations, i0hioh
shall be the Hrst claim upon The iphnIe railroad prop
erty, and 10 1hieh the lien 0| he Government shall
BE- subordinate, a. 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, q SEb1'NAToEAL
WORK aided and commended by the people, the
Legislative power, and the Executive officers,
though its management Is administered 18th al
the care aud J0rethOtlJh Of ths most eminent private
corporations. Being under the constant super
viGiOn 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
10 Is believed that no securities now offered In
the market possess the sane claims 10 conh.
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
SI S than ES sscu and Branches DO
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 the most
difficult and expensive portion OF tho whole
line the probabilities Of the through connection
with the Eastern lines being effected in Is70
amount almost 10 certainty.
The prominent feature Ia the progress Of the
CENTRAL PA IFIC RAILROAD Is the remarkably
large and profitable Local Business which IL de.
velOped up0a the completed portion, more than
justifyinR the estimates of Its pIOjeetOrs-that
the immense traffic between the ports Of Call.
fornia and the mining regions Of the int,I or
would sustain first-clnss railroad line, even II
the overland connections were not built Tho
net profit upon operating tho 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
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 coTrca.
pondingly. The CENTRAL PACIFIC RAILROAD
COMPANY offer for sale theirFIkST MORTGAGE
THIRTY-YEAR SIX PER CENT GOLD
BON and submit to Investors tie
following, among other obvious cOnsdora-
tions; and invite the comparison with the merits
and e1oellenci,s of any class OF Corporate 40,
euTities:
!. These Bonds are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad. soon TO become the main channel Of
niCatiOn the continent.
III. The local settlement and business tbsr ..
from il remarkably large and profitable and
must constantly increase.
III The hardest part Of the road Is nov
built and the remainder will 10 rapidly carrie
forward ever the Salt Lake Plains
". The greatest part of the msans necessary
10 build the road IL provided BY the U. y Gov.
erument upon subor dinate lea.
v. The State and chief cities Of California
have contributed upward of 5000, ono to the
enterprise without lien.
VI. The grant of land IL destined at an early
day TO prove Of far greater market yaine than
the total Of the first mortgage bonds iAsusd
upon the road and equipments.
VII. This road lies altogether among the gold
and silver producing regions, and itA revenues
are received 10 coin.
VIII. The management Of this company has
been in the highest degree prudent and frugal,
and the whole surplus, after payment Of expense
and interest, Is devoted TO construction purpS
SEES
TX The interest liabilities Of the company
are even now less than a third The net earnings
upon the road pledged.
X. Both Principal and Interest are DayG6b IN
Gold under special provisions Of both National
and State enactment.
The bonds are In sums Of 5000 each. with
semiaunual gold coupons attached, and are OF.
and accrued iateTest from Jan. ]. ADDED, In cur
rencY.
The back interest IL charged at six per cent
N currency, though repaid In fall In geld. A
Oils time they yield nearly
NINE PER CENT. UPON TIE INVEST
These bonds hid fair 10 attain the nOSt ,TSa-
inent position among the B0nTPeenlAtive in
yeStmeuts Of the country, and VIA he actively
dealt In At the msnsy-eeptFest IN Europe.
Holdsrs al GOySrAnent eseurtttsa have an oP-
pogt1nity Of exchanging them f0T Central 70
cifc Ronda bearing An euual Fzte uf taasro.f