The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-12-17
Central Pacific Railroad First
Mortgage Bonds.

It is commonly known that the General Gov
eminent, for wise purposes, has given It's aid
and encouragement TO the construction of one
MAIN THROUGH LINZ or RAILROAD from the Pa
ciio Ocean across the Territories 10 connect
with the various Eastern branches Of the Pa
ciic Railroad system, and which will form the
GRAND TRUNK ROUTE 20 the Ear West,
upon which the mighty trans-continental trafhs
will concentrate.
The CENTRAL PACIFIC RAILROAD
CohPANY-who are carrying IL forward with
greater energy and persistence than was ever
shown in any sip,ilar work in ancient or modern
times-will buila, equip, own and control tho
Western Half of this Through Line. the most
productive, favored and valuable portion of the
whole, and may Justly be regarded a. possessing
the richest franchise ever granted on this cont.
nent.
The Act Of Congress confers upon tho Corpo-
rations, besides the right of way across the Tct>
ritories gift Of - 500 acres OF the public lands
per mile, contiguous to this line, and an appro-
priation from the National credit ofSIxJT NIL
LIONS in 6 PER CKST. BONDS, delivered NJ he
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, consulate an element %
great strength 10 the corporations.
Tho Act further authorizes them 70 issue sn
equal amount of their own First Mortgage
Bonds Of corresponding denominations, trhisk
shall BE- the first claim upon ne toAoLs railroad prop
erty and 10 0kieA the lien Of Lhs Government sAd8
be subordinate a. . means Of moro readily secure
ing the remaining half of the capital for the oon
struction; the equipments &c, being provided
out Of the capital stock subscriptions and other
sources.
The great CENTRAL PAcIFIe RAILROAD Is there.
fore in an important sense, . SEM'NATIosAL
WORK aided and commanded by the people, tho
Legislative power, and the Executive oficorS
though its management In admtniSt<rsd toith al
The care aud forehOtOh Of the most eminent pirate
cOrpOrdtiOns Being under the constant super
yinion Of the Government-who, being the prtn'
cipal creditor, accepts subordinate and contin-
gent lien-with 90 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 tho sane claims 20 conn.
dence and market vElue, except those Of the
Government
Under these favoring auspices very gratifying
progress has boon made in extending the railroad
track from both directions. Nearly 1000 miles
OF the Main Line and conyerging Branches be-
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 Of the
Pacific 20 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 tho probabilities Of the through connection
ha haiu rfsd I'm
amount almost 20 certainty.
The prominent feature In the progress Of ths
CENTRAL PA IFIC RAILROAD In the remarkably
large and profitable Local Business which IL do
velOped upon the completed portion, moro than
iustifying the estimates of ia pIoiectors-thAt
the immense traffic between the ports Of Cali
fOrnla and the mining regions OF the inter OF
would sustain frstclass railroad line, even n
the overland connections were not built. The
net profit upon operating the link Of less than
one hundred miles, thus lar, reashes nearly. two
millions In gold. and this ratio will be doubled
during the coming season, when the entire
mountain transit IL made by the locomotive.
With every extension Of the track. the business
and profits Of the completed part are Increased,
40 that when the overland through traffic shhr
be conferred upon the CENTRAL ROAD, tho gen
eral prosperity Of tho company will be without
parallel, and its securities appreciated CORES.
pOndingly. The CENTRAL Pacific RAILROAD
COMPANY offer for sale theirFIHlST MORTGAGE
THlRTY.YEAR SIX PER CENT. GOLD
BONDS, and submit 20 Investors tie
following, among other obvious oOnsidera-
TONS and invite the comparison with thamerits
and eIcellenoies Of any class of Corporate se.
surites:
J. These Bonds are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad soon 10 become thu main channel Of
communication or the continent.
II. The local settlement and business there.
from Is remarkably large and profitable, and
must constantly increase.
III. The hardest part Of the road IL now
built, and the remainder will be rapidly carrie d
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
70 build tho road II provided by the u. :. Gov.
eminent upon subordinate lien.
V. The State and chief cities Of California
have contributed upward Of tJOO0OOO 10 the
enterprise without lien.
VI. Tho grant Of land In destined at an early
day 70 prove Of far greater market valHs than
tho total Of the first mortgage bonds Issued
upon Tho road and equipments.
VII. This road lies altogether among the geld
and silver producing regions, and ia revenues
are received In coin.
VIM. The management Of this company has
been In the highest degree prudent and frugal
and the whole surplus after payment Of expense
and interest, 10 devoted tP construction purps-
ses.
TX. The interest liabilities Of tho company
are even now less than a third tho net earnings
upon the road pledged
K Both Principal and Int>rsa az, payabk N
God, under special provisions Of both Nations
and State enactment.
The bonds are In sums Of 1900 each, with
semi annual gold coupons attached, and are Of
fered for sale At 95 per cent Of their par vAus.
and accrued interest from Jan. ]. adasd, In eur.
rency.
The h.ck interest 10 charged Al SKIP cent
4, ., ~ though repaid In full In goA
his tine hey yield nearly
NINE PER CENT. UPoy TIE IETKsr.
HggT.
These bonds bid fair 20 attain the most prom
meat position among the nbn-yseulatTe In
Vsstmsnts Of the country, and win be a4tivsly
dealt IN az the msney-ceDtres in Europe
Holders Of Government securities have an Cd
portuBity Of exchanging them for Central Pa
cifc Bonds bearing an equal rate ~ interest