The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-07-22
Central Pacific Railroad First
Mortgage Bonds.

""s HSEuS aSttIfOau ElfSl
Mortgage Bonds.
Ii is commonly known that the General G oy
eminent, for wise purposes, has given its ait
and encouragement TO the construction of on,
MAIN THROUGH LINE OF RAILROAD from the Pa
cihc Ocean across the Territories 10 connect
with the various Eastern branches Of the Pa
cihc Railroad system, and which viii form the
GRAND TRUNK ROUTE to the Far West
upon which the mighty trans continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANH-who are carrying it forward with
greater energy and persistence than was ever
shown in any SIMILAR work in ancient or modern
times-will buiid, equip, own and control the
Western Half Of this Through Line. the mos,
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 II 800 acres of the public lands
per mile, contiguous 70 this line, and sn appro.
pTlatlOu lTOH INC NatlOuA CTcuit oI SlAIl MIL
LIONS in PER CENT. BONDS, delivered a. the
work progresses; or half the estimated cost OF
the Through Line and Branches These Sub.
sidy bonds the company may cancel in a course
of years by the Transportation services of the
Roads, and a small per centage of their net earn.
ings; they, therefore, consulate an element OF
great strength 10 the corporations.
The Act further authorizes them 10 issue an
am nf - fUa
Bonds of corresponding denominations, irhieh
shall be The hrN claim upon The iChOlS railroad prop
erty and 10 Irhieh the hen Of the Government shall
be subordinate, as a means of more readily seCnr.
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, q SESn. NATIONAL
WORK, aided and commended by the people, the
Legislative power, and the Executive officers,
though its management Is administered 10Th al
he care and yorethot9h Of hs most erAineH private
corporations. Being under the constant super.
viOion of the GOvernment-who, being the prin'
cipal creditor, accepts subordinate and c0ntin.
gent lien-with so large an amount of addition
al capital also invested In the property pledged,
it Is believed that no securities now offered In
the market possess the sane claims 10 conf
dence and market value, except those Of the
Government
Under these fayoring 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 la.
tween the Missouri River and the base Of the
Rocky Mountains have been built within three
years. The CENTRAL PACIFIC RAILROAD has
also steadny and successfully carried the Main
Stem Line from the steamboat navigation of the
flo IN hn AZ and
into the Great Salt Lake Basin east Of the Cali
iOrnia line. Having overcome by far the most
difficult and expensive portion of tho whole
line, the probabilities Of the through connection
with the Eastern lines being effected IN l-I
amount almost 10 certainty.
The prominent feature in the progress Of the
CENTRAL PA TIC RAILROAD is the remarkably
largo and profitable Local Business which IL do
velOped upon the completed portion, more than
iustifying the estimates Of it, pIOiectOrs-that
the immense traffic between tho ports Of Cali
fornia and the mining regions Of the int,t or
would sustain irstclass railroad line even II
the overland connections were not built. The
net profit upon operating the link OF lcss than
one hundred miles, thus far, reashes nearly two
millions in gold, and this ratio will be- doubled
during the coming season, when the entire
mountain transit Ia made by the locomotive
With every extension Of the track, the business
ana prOitS oil the competed part are lutIc9Sh
40 that when the overland through traffic shall
be conferred upon the CENTRAL ROAD, the gen
cral prosperity Of tho company will be without
parallel, and its securities appreciated cOTTos
pOndingly. Tho CENTRAL PACIFIC RAILRsN 81
COMPANY offer for sale thelrFlHST MORTGAGE
THIRTY. YEAR SIX PER CENT. GOLD
BON DIS, and submit 10 Investors tie
following, among other obyious considera
tiOns; and invite the comparison with the merits
aud eNcellenci.s Of any class Of Corporate 40
curities:
l. These Bends are based upon the most vita
aud valuable part Of the Grand National Pacific
Railroad. soOn 20 become the main channel o.
communication on the continent
II The local settlement and business ,her @
from il remarkably large and profitable au'
must constantly increase.
III The hardest part Of the road IL now
built and the remainder will he rapidly carrie
forward over the Salt Lake Plains
Nv. The greatest part Of the means necessary
to build the road II provided by the L. :. Gov
eminent upon a subOr diDate lien.
V. The State and chief cities Of California
have contributed upward Of o. no 10 thu
enterprise without lien.
VI. The grant Of land is destined at an early
day 20 prove Of far greater market value that
the total Of the Arst mortgage bonds issue'
upon the road and equipments.
VII. This road lies altogether among the gold
and silver producing regions, and iiA revenue
| are received in coin.
VIII. The management Of this COMPANY ba
been in the highest degree prudent and frugal
| and the whole surplus after payment Of erpens
and interest, IL devoted 70 construction purps
sea.
| TX. The interest liabilities Of the eompan
are even now less than . third the net earring
upon the road pledged.
\. Both Pnneipal and IntereSt are Dayat1 {
Gold, under special provisions Of both Nations
| and state enactment.
The bonds are 10 sums Of 1900 each, wit
semi annual gold coupons attached, and are o
fsTsd for sale At % per cent. OF their par NAIu'
and accrued interest fr1m Jan. ]. ADDED I'D cu'
rency.
The hack interest il charged at dr per ecu
in .,trrSn1v. though repaid in foil in gDd A
This time they yield nearly
NINE PER CENT. CPOS THE IEyEs,
AEST
These bonds bid fair TO attain the mo-; VrOE
insnt position among the non speculative }
vestments Of tbs country, and viii be aStive
dealt In at the msDey centres IN Europe.
/ Holders Of Government sscHritiss have an o
portuDity Of exchanging them for Central D
cihe Bonds bearing an equal rate 81 iHisre-
with the principal well occurred, and Of
REALIZING 4 PROFIT or TEN To III
TEEN PER cEST ~ ADDITION.
Orders ..b, with the funds through resPoni