The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-01-25
Central Pacific Railroad First
Mortgage Bonds.

II IL commonly known that the General Coy;
ernment for wise purposes, has gwen lts anu
and encouragement TO the construction OF ono
MAIN THROUGH LINE OF RAILROAD from the a.
citic Ocean across the Territories 70 cohu "a.
with the various Eastern branches OF the "a,
cific Railroad system, and which viii form the
GRAND TRUNK ROUTE TO the Far Mes,,
upou which the mighty trans'continentai uaine
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-who are carrying II FOL ward Win
greater energy and persistence than was ever
shown "a any similar work in ancient Or modern
times-will build equip, own and controi Tue
Western Half of this Through Line. the most
productive, favored and valuable portion oil tue
whole, and may justly be regarded as possessiDg
the richest franchise ever granted on TINS CONT
nent.
The Act of Congress confers upon the Colpo'
rations. besides the right Of way across the Ter
Iitories gift of Il, sou acres OF the puohc ihhus
per mile contiguous to this line, anu On aPpIo
priat;on from the National credit oil oiAll nil
LIONS in PER CENT. RoSDs, Delivered IS tne
work progresses; or half the estimated cost ol
the Through Liue and Branches. lhese ouo
sidy bonds the compSny may cancel IN q course
of years by the TRANSFORMATION services OF int
Roads and small per centage OF their net carr
inps. they therefore constitute an eIelnent "a
great strength TO the corporations.
-
Tn, Act further authorizes them TO issue an
equal amount of their own First mortgage
RanJs of corresponding denominations, rh'ch
shall b. he frst eloim upon the chols railroad prop
erty Gad 10 phich the lien Of the Government MaH
be subordinate, as q means OF more reauiiy secuE
in the remaining half of the capital Tor the con
struction; the equipments, &c Deng pLoh!teu
A ~, authorizations
sources.
The great CENTRAL PACIFIC RAILROAD Is there
fore, in an important sense, SEhfNAIioNAL
WORK. aided and commended by tue people inc
Legislative power, and the Executive oiiCers
though its management is administered hth ~
the care aud torethOught Of the most eminent priratt
ror,,orofionS. BEING under the constant super
vision Of the Government-who, being the pIin
cipal creditor accepts \ subordinate ana contin'
Gent lien-with so large an amount OF auul,loI
al capital also invested in the property pleageu
IL is believed that no securities now otereu , ~
the market possess the sane claims 10 conn
dence and market value, except those VI 'he
Government.
Under these lav0ring auspices very gratifying
progress has been made in extending the ralli eau
track from both directions. Nearly lVoo mli"s
of the Main Line and convergiug branches ne
Rocky Mountains have been built WITHIN three
wears. The CENTRAL Pacific RAILROAD mas
also steadily and successfully carried the MAIN
Stem Line from the steamboat navigation ot thS
Pacific 10 the summit Of the Sierra Nevada auu
into The Great salt Lake BASIN east OF the Can
fornio line. Having overcome by far the most
difficult and expensive portion OF the Whoe
line the probabilities of the through connection
with this Eastern lines being effected IN l5'V
amount almost TO certainty.
The prominent feature in the progress oil the
CENTRAL PACIFIC RAILROAD - the ieinarkaUIy
large and profitable Local Business winch Is lie
velOprd upon the completed portion, mere IMAM
iustifyiuI the estimates OF its pi"Jectors-tha'
the immense traffic betwi en- the parts oil Cali'
fornia and the mining regions OF tue INT OF
would sustain a fiTst.ClasS railroad lane, even II
the overland connections were not Dulit' nc
net profit upon operating the link OF less than
ons hundred miles thus lar. reaches nearly two
millions in gold; and this ratio Will ne doubled
Iuriup the coming season, when the entlre
mountaiH 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
he ceutered upOn the CENTRAL ROAD, the gen
eral prosperity Of the company will be without
parallel, and its securities appreciated cores
pUudingly The CENTRh Pacific khLRpAu
CoMpANi offer for sale theirFI hSI MORIGa ~
THIRTY.YEAR SIN PER CENT. GOLD
NDS, ard submit to Investors the
following among other obvious considera-
tons; aud invite the comparison with the merits
and excellenciss OF any class of Corporate Sc
curities
I. These Bends are basej upon the most vital
and valuable part of the Grand National Pacihc
Railroad soon to become the main caannel OF
communication on the continent.
III. The local settlement and business there
from is remarkably large and profitable, ana
must constantly increase.
III. The hardest part OF the road is now
built and the remainder will be rapiu!y catfleu
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
TO build the road is provided by the l. D. Gov
ernment upon a subordinate lien.
V. Ike State and chief cities Of California
enterprise without lien.
VI, The grant of land is dcstiGed al an early
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 It's 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 in terost, 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 aud Interest are payable in
Gold, under special provisions of both National
and State enactment.
The bonds are Ia sums Of sl0e0 each, with
semi. annual gold coupons attached, and are OF.
fered for sale at 9J per cent OF their par value,
and accrued interest from Jan. l, sdsed in cur.
rency.
The back interest IL charged ~ six per cent.
in currency though repaid In full in gold. At
this time they yield nearly
NINE PEP CENT UPON THIS INVEST.
HEyT