The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-07-31
Central Pacific Railroad First
Mortgage Bonds.

1t Is commonly known that the General Gov.
ernm0nt for wise purposes, has given It's aid
and encouragement to the construction OF one
MAIN THROUGH LINE OF RAILROAD from the Pa.
cite Ocean across the Territories 70 connect
with the various Eastern Branshes OF the Pa.
cidc Railroad system, and which will form the
GRAND TRUNK ROUTE to the Far West,
upon which the mighty trans-contincntal traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
are carrying il forward with
greater energy and persistence than was ever
shown in any SIMILAR work In ancient or modern
tlmes-will bui.n, 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 Como
ratiOns besides the right of way across the Ter.
ritories gift OF 10 800 acres OF tho public lands
per mile, contiguous 20 this line and an appro-
priation from the National credit OF sixty MIL
LIONS in FER CENT. BONDS, delivered rs the
work progresses; or half the estimated cost OF
the Through Line and Branches. These Sub
sidy bonds the company Aay cancel in a course
Roads and small per centage of their net earn.
ings; they, therefore, constitute an element Of
great strength 10 the corporations.
The Act further authorizes them TO ISSUE an
equal amount Of their own First Mortgage
Bonds Of corresponding denominations, tChich
shall be The first claim upon he iOh0s railroad prop.
'Tty, and 20 tuhieh The lien Of The Government Ehda
be subordinate as q means Of more readily secur.
hall
the equipments, &c. being provided
Dut Of the capital stock subscriptions and other
sources.
The great CENTRAL Pacific RAILROAD IL there
fore, In an important sense, q SRMI NATIONAL.
WORK, aided aud commended by the people, the
power, and the Executive officers,
though its management IL Administered teifA al
the and JorethOuJh Of The most eniRrnt PIRATE
corporations. Being under the constant super
WHOM OF the Govcrnment-who, being the prin.
cpal creditor, accepts subordinate and contin.
gent lien-with 40 largo an amount Of addition
nj capital also invested In the property pledged.
IL is believed that no securities now offered in
tho market possess the sane claims 10 conf
dcnce 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 thrnc
years. Tho CENTRAL Pacific RAILROAD has
also steadily and successfully carried the Main
StCm Line from the steamboat navigation Of the
Pacific to tho 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 tho whole
ha af ha oh act an
with the Eastern lines being effected In 1870
amount almost TO certainty.
Af pFqPi9sPt feature in the progress Of shs
large and profitable Local Business which Ia do.
veloped upon the completed portion, more than
iustifying the estimates of its pIojectOrs-that
the immense traffic between the ports Of Cali
fOrnia and the mining regions of the intcs or
would sustain frst.class railroad line, even II
the overland connections were not built The
net profit upon operating the link OF loss than
one hundred miles, thus far, reaches nearly two
millions in gold; and this ratio will be doubled
during the coming season, whom the entirr
mOuntaiR transit Il mado by the locomotive.
With every extension Of the track, tho business
and profits of the completed part are increased
so that when the overland through traffic shall
be conferred upon tho CENTRAL ROAD the zen
cral prosperity Of tho company VIII be without
parallel, and It's securities appreciated CORES
pondingly. The CENTRAL PACIFIC kAlLRsAn
COMPANY offer for sale theirFIhST MORTG GE
THIRTY. YEAR SIX PER CENT. GOLD
BONDS, and submit TO Investors the
among other obvious considera.
tons; and invite the comparison with the morit-
and excellencies of any class OF Corporate Se
Curitics:
!. These Bonds are based upon the most vita
and valuable part Of the Grand National Pacific
Railroad, soon 10 becOme the main channel Of
communication on the continent.
II. The local settlement and business Their o
from IL remarkably largo and profitable, ant
must constantly increase.
III. The hardest part Of tho road Ia nov
built, and the remainder will be rapidly carrie
forward over tho Salt Lake Plains.
". The greatest part Of the means necevar,
10 build the road Ia provided By the U. ). Gov
eminent upon = subordinate lien.
V. The State and chief cities Of CaliforDii
have contributed upward 81 s3,0O0Ooo TO th'
enterprise without lien.
VI. The grant Of land Is destined at an early
day TO prove OF far greater market value thar
tho total of the arst mortgage bonds issues
upon the road and equipments.
VII. This road lies altogether among the gold
and silver producing regions, and It's REVENGE
are received in coin.
VIII. Tho management Of this company ba
been in the highest degree prudent and fruga
and the whole surplus after payment OF eIpens
and interest, Is devoted 10 construction puTPs
ses.
TX. The interest liabilities OF the eompan
are even now Icss than a third the net earning
upon the road pledged.
X. 10th Principal and Tntsr,a are pdydb1
God, under special provisions Of both Nations
and State enactment
The bonds are In sums Of 1900 eaeh, vii
semiannual gold coupons attanhsdl and are
fered for sale At - per cent OF their par Fau'
and accrued interest from Jan !. adaed' In cnl
reney.
The hack interest IL charged nj six per cen
| In e,Irr,aey. thoagh repaid In full In soLd. A
this time they yield nearly
VINE PER CRSI UPOy THE IgVRS
MEM.
| These bonds BID fair 10 attain The most yroV
ibent position anHBg The DOnspeealaiiys !
vestmenis IL the country. and win be astiys
dealt in at The msDsy-eeDtrts In RuFUps.
| Holders Of Government securities have IN o
portaBity Of eIshan giHz them for Central
I eihe Bonds bearing An equal rate Of lHfsre'
! with the principal well seeurnd, and Of
REALIZING A PROFIT or TEN TO III
TEEN PER CENT. " ADDITION.
Order. sept With the funds thrposb respon
lie banks or Express Companies will rocei