The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-04-15


cifc Ocean across the Territories 10 connec
with the various Eastern branches Of the Pa
| ciic Railroad system, and which viii form tn
GRAND TRUNK ROUTE TO the Far West
upon which the mighty traRs-continental tTathi
will concentrate.
The CENTRAL PACIFIC RAILROAD
| COMPANY-whO are carrying IL forward viii
greater energy and persistence than Was eve
I shown in any sir,ilar work in ancient or modern
| times-will bui,a, equip, own and control thu
Western Half Of this Through Line. the mos
productive, favored, and valuable portion OF IN,
! whole and may Justly be reganled as Possessing
the richest franchise ever granted on this cont
nent.
The Act Of Congress confers upon the COrpO
ratious, besides the right Of way across tho Ter
ritores gift Of II, sOO acres Of the public land
! per mile contiguous 20 this line and Gn appro
priation from the National credit Of sixty NIL
LIONS in PER CENT. RoNDs, delivered IS th
! work progresses; or hAlfthe estimated cost o
the Through Line and Branches. These Sub
sidy bonds tho company may cancel IN oeurs
Of years by the Transportation services OF III
| Roads and a small per centage Of their net earn
| iDgs they, therefore, constitute an element o
great strength 10 the corporations.
The Act further authorizes them 20 issue Al
equal amount of their own First Mortgage
! Bonds Of corresponding denominations, trf.icl
shall b. he first claim upon tS rhoIS rulIrodd pTop
| srty aud 20 ichieA The len q he GoVernmSnf J'dI
| b. subordinate, as q means OF more readily secuf
ing the remaining half Of the capital FOR the con
struction; the equipments, &c. being provides
out Of the capital stock subscriptions and othe
sources.
The great CENTRAL PACIFIC RAILROAD Is there
| fore in an. important selsc, q SEAl'NATioNA Al
4 a IL. q
! Legislative power, and the Executive othcers
though It's management Is administered Wlh al
he care aud tore,kOu0h Of tkS most CBiRS1 PTtrut
c0rpOrah0nS Being under the constant super
/ vision Of the GOveTnment-whO, being the prtn
| cipal creditor accepts q subordinate and contln
| gent lien-with 40 large an amount Of addition
| al capital also invested in the property pledged
| il Is believed that no securities now offered II
| the market possess the sane claims 20 cond
denoe and market value, except those Of The
| Government
Under these fayOring auspices very gratifying
| progress has been made in extending the railrOas
! track from both directions. Nearly 1000 miles
OF the Main Line and csnvcrgiBg Branches be-
tween the Missouri River and the base OF Tn
| Rocky Mountains have been built within thre'
years The CENTRAL Pacific RAILROAD Ia
also steadily and successfully carried the Mai
Stem Line from the steamboat navigation Of tn
| Pacific N the summit Of the Sierra Nevada, an
into the Great Salt Lake Basin east Of the Cali
fornia line. Having overcome by far the mos
difficult and expensive portion 81 the Whoh
line. the probabilities Of the through connection
with the Eastern lines being effected In Isl
amount almost TO certainty.
The prominent feature in the progress Of th
! CENTRAL Pacific RAILROAD IL the remarkabl!
large and profitable Local Business which il de
! velopad upon the completed portion, more thai
iustify!nR the estimates Of its pIoieCtors-thA
! the immense traffic between the ports Of ali
fUruia and the mining regions Of th" int'' o
I would sustain a 6rst-Class railroad line, oven !
the overland connections were not built Tit
net profit upon operating the link Of less thar
one hundred miles thus far, reaches nearly tNt
millions in gold; and this ratio viii be double'
during the coming season, when the enuf'
mouutaia transit is made by the locomotive
with every extension Of the track, the business
and profits Of the completed pIrt are increased
80 that when the overland through traffic shall
he ceRtered upon the CENTRAL Road, the gen
eIal prosperity Of the company will be wnhOu
parallel aud its securities appreciated CORES
noDdiugly, The Central PGCT1C RAIRsA
COMPANY offer for sale theirFIhST MORTGAGE
4 THIRTY.YEAR SIX PER CENT. COLI
BONDS, and submit 10 Investors ~
following. among other obvious considera
and eIoellenciss Of any class OF Corporate ~
Guritiese
!. These Bonds are based upsn the most vita
and valuable part Of the Grand National PaeiB
Railroad soon 20 become the main channel 0
communication on the continent.
II. The local settlement and business thGr,
from is remarkably large and profitable, an
must constantly Increase.
III The hardest part Of the road l. no7
built. and the remainder will b. rapidly carrie
forward over the salt Lake Plains.
". The greatest part Of the means necessar
To build the road IL provided by the q. :. Gov
eminent upon a subordinate lien.
V. The State and chief cities Of CAlifOrHi
have contributed upward o. 8 on."l) g. %
enterprise without lien.
VI The grant Of land is destined at an eaTl
day 70 prove Of lar greater market value tina
upoa the road and equipments.
VII. This road lies altogether among the goi
and silver-producing regions, and IL revenue
are received in coin.
VII. The management Of this company Ia
been in the highest degree prudent and fruEs
and the whole surplus, after payment Of eTpehi
; and interest, IL devoted 10 construction TurTs
So.
} TX. The interest liabilities Of the oOinpAIi
p are even now Iess than 4 third the net earning
upOa the road pledged
\. Both PriAapdl ard InteTesf are payd1j<
G0ld under special provisions 81 both Nation
and state enactment
The bonds are 10 sums Of ti0oy each. VII
= semi-aunual gold coupons attached and arc Q
fered for sale a. % per cent Of their par vain
and accrued interest from Jan. J. AdAea' N en-
rehCy.
The hack interest Il charged ~ AZ per cen
IN r,rrrency. though repaid IN fall IN gold. A
this time they yield nearly
, yIyE PER CEyE TROY THE yTE5
i hEyT.
These bond, I'D fair to attain the NOS; srU