The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-02-27
Central Pacific Railroad First
Mortgage Bonds.

IL in commonly known that the General Gov:
ernmont for wise purposes, has gwen us &lu
and encouragement 10 the construction OF one
MAIN THROUGH LINZ OF RAILROAD from the IA
Cific Ocean across the Territories 10 connect
with the various Eastern Brsnshes OF the "a
cifc Railroad system, and which viii form the
! GRAND TRUNK ROUTE to the Far West,
upon which the mighty trans'continental trafne
will concentrate.
| The CENTRAL PACIFIC RAILROAD
| COMPANY-who are carrying II forward win
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 ~ SUI acres OF the public lands
per mile, contiguous to this line, and sn appro'
priation from the National credit of sixty NIL
| LIONS in s FER CENT. BONDS, delivered as the
work progresses; or halfthe estimated cost OF
the Through Line and Branches. These sub
sidy bonds the company may cancel in course
of years by the Transportation services oil the
| Roads, and small per centage OF their net earr
| ings; they therefore, constitute an element oil
great strength 10 the corporations.
The Act further authorizes them to issue an
canal amount of their own First Mortgage
Bonds of corresponding denominations, ichleh
shall be he first claim upon the lrhote railroad prop
ertv and TO lrhich the lien Of the Government shdu
be Subordinate as a means Of more readily secur-
ing the remaining half of the capital Tor 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, a SENINATIoNAL
WORK aided and commended by the people, the
! Legislative power, and the Executive officers,
! though its management is administered nun au
The care and fOTeth0uJht Of the most eminent pirate
corporations. Being under the constant super
vision of the GOveTnment-whO, being the prin'
| cipal creditor accepts a subordinate and contln'
| gent licn-with so 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 san claims 10 conn.
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 lOOO miles |
| of the Main Line and converging Branches he.
! tween the Missouri River and the base OF the
! Rocky Mountains have been built within three
wears. The CENTRAL PACIFIC RAILROAD has
also steadily and successfully carried the Main
Stem Line from the steamboat navigation oil 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 the whole
! line the probabilities of the through connection
with tho Eastern lines being effected in 1870
amount almost to certainty.
The prominent feature in the progress Of the
J CENTRAL PACIFIC RAILROAD Ia the remarkably
large and profitable Local Business which Is de
| yeloped upon the completed portion, more than
! iustifying the estimates of its pIojeCtors-that
| the immense traffic between the ports Of Cali
| fornia and the mining regions OF the int or
would sustain tirst-class railroad line even II
! the overland connections were not built. Inc
| net profit upon operating the link OF less than
one hundred miles thus lar 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 CORES
pondingly. The CENTRAL PACIFIC RAILReAD
COMPANY offer for sale theirFIhST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
BONDS, and submit TO Investors the
following, among other obvious considera-
tons; aud invite the comparison with the merits
and cXcellenCi,s of any class OF Corporate &C.
curitics:
I. These Bonds are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad soon TO become the main channel of
communication on the continent.
II. The local settlement and business there !
from is remarkably large and profitable, and
must constantly increase.
Ill The hardest part al the road II now
built and the remainder will be rapidly carried !
forward over the Salt Lake Plains.
" The greatest part of the means necessary
10 build the road is provided by the L. s. Gov
eminent upon a subordinate lien.
V. The State and chief cities Of California
have contributed upward Of 81 100000 TO the
enterprise without lien.
VI. The grant Of land is destiaed 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 gold
and silverproducing regions and its revenues
are received in 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 purpo-
SEES.
TX. The interest liabilities OF the company
are even now less than third the net earnings
upon the road pledged.
X. Both Principal and Intsrest are payable in
Gold, under special provisions Of both National
and State enactment.
! The bonds are in sums Of 1900 each, with
semi annual gold coupons attached, and are Of.
fered for sale At % per cent OF their par value
| and accrued interest from Jan. ], added In eur.
rency.
! The back interest Is charged at six per cent.
/ in currency though repaid in fnll 10 gold. At
this time they yield nearly
VINE PER CENT. UPON THE LSTEsT.
nEYE
These bonds bid fair 10 attain the most prom
! inent position among the nOnSPeeulatiVe in
! vestmeuts of the country, and win be actively
] dealt in at the mGney centres in Europe.
{ Holders OF Government securities have an OPP
portunity Of exchanging them for Central Pa
cifc Bonds bearing an equal rate Of interest,
With the principal well secured, and Of
REALIZING A PROFIT OF TEN TO FJF'