The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-07-02

Central Pacific Railroad First
Mortgage Bonds.
II is commonly known that the General G ov
eminent, for wise purposes, has given its ai'
| and encouragement 10 the construction Of on,
MAIN THROUGH LINE OF RAILROAD from the Pa
cihc Ocean across the Territories 10 connect
| with the various Eastern Branshes Of the Pa
cihc Railroad system, and which viii form tn,
GRAND TRUNK ROUTE TO the Ear West
upon which the mighty traRs'continental traffic
| will concentrate.
The CENTRAL PACIFIC RAILR0Al
CoAPANY-whoa are carrying IL forward with
greater energy and persistence than was even
shown in any sipdlar work in ancient or modern
times-will bui,s, 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 tho Ter.
rtores, gift Of - 500 acres OF the public lands
per mile, contiguous 10 this line, and sn appro.
prAtion from the National credit Of SIKH NIL.
LIONS in PER CENT. BONDS, delivered as the
work progresses; or half the estimated cost OF
the Through Line and Branches. These Sub
sidy bonds the company may cancel In q course
Of years by the Transportation services Of the
Roads, and small per csntage Of their net earn
ings; they, therefore, consulate 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, irhicA
shall be the first claim upon TIE tchots railroad prop
erty and 10 iohieh The lien Of the Government Shdl
be subordinate, az q means OF moro 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, . SEkI'NATioNAL
WORK aided and commended by the people. the
Legislative power, and the Executive officers,
though its management In administered lrih al
The care and JOrethOu9At Of Lhs most eHiDe'l prirdts
corporations. Being under the constant super
vinion Of the Government-who,b being the prin'
cipal creditor, accepts subordinate and coDtin.
gent lien-with so large an amount Of addition
al capital also invested In the property pledged
IL In believed that no securities now offered in
the market possess the sane claims 20 conf
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
Of the Main Line and cOnverging Branches be
tween the Missouri River and the base of the
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 10 the -utnulit Of The sierra NryHha anO
| into the Great Salt Lake BASIN east Of the CAN
| 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 l-5C
amount almost Ia certainty
The prominent feature in the progress Of th'
| CRNTRAr. PA IPTC RAILROAD IL the remHrknbl,
large aud profitable Local Business which IL de
velOped upOH the completed portion, more thar
| justifyinR the estimates of ia pIoiectois-thai
| the Immense traffic between the ports Of Call
| fornia and the mining regions Of the int, Or
| wOuld sustain n hTst-Class railroad line, cvsn u
| the overland connections were not built. The
| net profit upOn operating the link Of less thar
one hundred miles TINS far, rrashes nearly TIVE
millions in gold; and this ratio will be- doubled
during the coming season, when the entire
mountaiR transit Ia made by the locomotive
With every extension of the track, the business
and profits Of the completed part are increased
lsO that when the overland through traffic Shal
lbe centsred upOn the CENTRAL R0Ap, the gen
eral prosperity of the company viii be without
parallel and its securities appreciated cores
pOndingy. The CENTRAL Pacific RAn.ReAf
| COMPANY offer for sale theirFlhST MORTGAGE
| III
BON and submit la Investors I've
| following among other obvious COnsidefa
tons; and invite the comparison with the merit
and eIoeencies OF any class OF Corporate 50
cnrities:
!. These Bonds are based upon the most vita
and valuable part Of the Grand National Paci6,
Railroad soon 20 become the main channel o
| communication on the continent.
II. The local settlement and business Their g
from Ia remarkably large aud profitable, and
must constantly increase
| III. The hardest part Of the road Ii nov
built. and the remainder will be- rapidly carrie
| forward over the Salt Lake Plains.
| II. The greatest part Of the means necessary
| to build the road is provided by the L. \. Gov
| eminent upon suDOr innate IIeb'
V. The State and chief cities Of California
have contributed upward Of sJ,0c0.0o to tb'
fentsrprise without Hen.
VI. The grant Of land is destined at an EARL
day TO prove Of far greater market vllns thar
the total Of the first mortgage bonds issue'
upon the road and Squipueu's
VII. This road lies altogether among the gold
and r.producina.regiOns, and its revenue
are received in coin.
VIII. The management Of this company hA
been in the highest degree prudent and fruga
and interest, is devoted 20 construction purp'
ses.
TX. The interest liabilities Of the eOmpsp
are even now less than = third the net earring
upon the road pledged.
X. Both Principal and IHt>Te5t are pdyabL
Gold, under special provisions Of both Nations
and State enactment
The bonds are In sums Of 1900 each, Wit
ssmi-sunuAl gold coupons attached, and are o
fered for sale st IS per cent. Of their par vain
J ana accrued inbTC-t ITOD San " sHsSN' ." 49,
reney.
, The back interest IL charged At str per re.
in currency, thoagh repaid In fall In S''h'
this time they yield nearly
yJyy pgR CENT UPOy TBE yvgs
NEgT.
These bonds I'D fair TO attain the most prom
inent positiOa among the nonrpecuistiTs d
vestmsnts Of the country, and win be aFtiy"l
dealt In At the nsney -oebtrvs in Europe.
, Holders Of Government securities have an 81
pGrtunity % exchanging them for Central J
D eiSe Bonds bearing an equal rate Of inisrra
with the principal well secured and 81
REALIZING 4 PROFIT or TEN TO III
TRRy PER CENT ~ ADpITTOS