The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-05-07
Central Pacific Railroad First
Mortgage Bonds.

Central Pacific Railroad First
Mortgage Bonds.
1t is commonly known that the General Gov
ernmsut, for wise purposes, has given its aid
and encouragement to the construction OF on'
MAIN THROUGH LINE or RAILROAD from the Pa
cific Ocean across the Territories 10 connec
with the various Eastern Branshes OF the Pa
ciic Railroad system, and which wall form th'
GRAND TRUNK ROUTE to the Far West
upon which the mighty transcoutinental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-Who ars carrying it forward with
greater energy and persistence than was evei
shown in any siPoilar work in ancient or modern
times-will builn, equip, ewn 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 conters upon the COrpo
rations, besides the right of way across the Ter
ritores, gift Of II 500 acres Of the public lands
per mile, contiguous to this line, and En appro
priation from the National credit Of Sixty NIL
LIONS in FBR CEST. BoNDs, delivered rs the
work progresses; or half the estimated cost OF
the Through Line and Branches. These Sub
sidy bonds the company may cancel IN course
of years by the Transportation services OF the
Roads and n small per centage OF their net earn
ings they, therefore, constitate an element Of
great strength 10 the corporations.
The Act further authorizes them 10 issue "a
equal amount of their own First Mortgage
Bonds of corresponding denominations, trhlel
sh1H be the first claim upon DE I0hOl6 railroad prop
erty and 10 Ichieh the lien Of the Government ShdL
be subordinate, rs means OF more readily secur
ing the remaining half Of the capital for the con
struCtiOn; the equipments, &c, being provided
out of tie capital stock subscriptions and other
sources.
The great CENTRAL PACIFIC RAILROAD il there
fore in an important sense, n SRMI NATIONAI
WORK, aided aud commended by the people, thu
Legislative power, and the Executive officers
though its management Is administered nth al
the care and JoretRONght ~ he most eminent prirdt'
corporations. Being under the constant super
vinion of the OBSERVATION-DISCLOSURES, being the prin
cipal creditor accepts a 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 % coma
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 100 miles
of the Main Line and converging Branches he
tween the Missouri River and the base OF tbs
Rocky Mountains have been built within three
years The CENTRAL Pacific RAILROAD ha'
also steadily and successfully carried the MAR
Stem Line from the steamboat navigation OF the
Pacific 10 the summit Of the Sierra Nevada, anC
into the Great Salt Lake Basin east Of the Cali
fornia line. Having overcome by far the mos
difficult and expensive portion Of the whole
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 th,
CENTRAL PACIFIC RAILROAD Is the remarkably
large and profitable Local Business which Is dc
velOped upon the completed portion, more thar
iustifying the estimates OF its professionalism
the immense traffic between the ports of Cali
fornia and the mining regions of the int, Of
would sustain fTst-Class railroad line, even !
the overland connections were not built. The
net profit upon operating tho link Of less than
one hundred miles, thus far reaches nearly tive
millions in gold; and this ratio will he 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 centered upon the CENTRAL ROAD, the gen
eral prosperity Of the company will be without
parallel, and its securities appreciated CORES
pondingly. The CENTRAL PACIFIC RMIReAI
COMPANY offer for sale theirFIhST MORTG AGE
THIRTY. YEAR SIX PER CENT. GOLD
BONDS, and submit 90 Investors ta,
following among other obvious consdera
tiOns, aud invite the comparison with the merib
and eXCellenci.s Of any class of Corporate 80
surities:
l. These Bonds are based upon the most Vita
and valuable part Of the Grand National Pacific
Railroad, soon to become the main channel oi
communication on the continent.
III. The local settlement and business there
from IA remarkably large and profitable and
must constantly increase.
III. The hardest part Of the road Is now
built, and the remainder will be rapidly carries
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
70 build the road IL provided by the L. $. Gov
eminent upon subordinate lien.
V. Ike State and chioi cities Of California
have contributed upward Of tJoOOOOO 10 th'
enterprise without lien.
VI. The grant Of land Is destised at an early
day 60 prove Of far greater market value thar
the total Of the first mortgage bonds ISSUED
upon the road and equipments
VII. This road lies altogether among the gol'
and silveT-producing regions, and its reyenus
are received in aoin,
VII. The management Of this company ha
been In the highest degree prudent and frugal
and the whole surplus, after payment OF eXpens'
and interest, IL devoted 70 construction purpo
seE
TX. The interest liabilities Of the companl
are even now less than third the net earning
upVn the rad pledged.
X Both Principal and InteTea are payaJLs Il
God, under special provisions Of both Nations
and state enactment
The bonds are In sums Of tIOO0 each, wit
semi-sunuAl gold coupons attached, and are Of
fered for sale AZ IS per cent Of their par value
and accrued interest from Jan. I, aided. In cur
rency.
H..E...#Fr a.fss
The back interest Il charged At ak per cent
In currency, though repaid IN fail In gold. A
this time they yield nearly
VINE PER CENT. Troy TBE TYTESi
AEST.
These bonds bid fair 20 attain the most prom
inent position among the nOnEPeculative Il
ysstmenta Of tia cOuutry, and Eil bs astiyel
dealt in At the msney centres IN EUROPE.
Holders Of Government securities have an 81
pOrtuBity Of exchanging them for Central n
oiAe Bonds bearing 40 equal rate Of intsfsa
with the principal vel secured, andsf