The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-05-20
Central Pacific Railroad First
Mortgage Bonds.

Central Pacific Railroad First
! Mortgage Bonds.
1t is commonly known that the General Gov.
ernmant, for wise purposes, has given its aid
and encouragement 20 the construction OF one
MAIN THROUGH LINE OF RAILROAD from the Pa,
/ cite Ocean across the Territories % connect
with the various Eastern Branshes Of the ia;
cifc Railroad system and which viii form the
GRAND TRUNK ROUTE to the Far West,
upon which the mighty transcOntinental trafhc
viii concentrate.
The CENTRAL PACIFIC RAILROAD
! COMPANY-who are carrying IL forward with
greater energy and persistence than was ever
| shown In any siVIilar work In ancient or modern
| times--will 6uill, 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 npOn the Corpo-
rations besides the right of way AcruSs the Ter.
ritofies gift Of l2 500 acres Of the public lands
per mile, contiguous TO this line, and En Appro-
| priation from the National credit OfSIXTI MIL
| LIONS in 6 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 may cancel in . csurse
Of years by the Transportation services Of the
Roads and n small per centage Of their net earn.
ings; they, therefore, constituto an element OF
great stroRgth 70 the corporations.
The Act further authorizes them TO issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, tohic'
shall be The fret oldim upon the phos railroad prop.
erty, and % phich ols hen Of the 6orennenf shah
be subordinate as o means OF more 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 IL there
fore, In an important sense, . SEhI'NkIIoSAL
| WORK, aided and commended by the people, tho
| Legislative power and the Executive officers,
| though its management is administered nth al
the and JoTethOugM Of the most eminent prtBdts
eorpOrdtiOnS Being Hnder the constant super
viGion Of the COMMANDMENTS, being the pTin-
cipal creditor, accepts subordinate aud contin.
| 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 70 cont.
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 c0nverging branches be-
| tween the Missouri River and the base of the
| Rocky Montana 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 summit Of the Sierra Nevada, and
into the Great salt Lake Basin east Of the Cali.
fo1nis line. Having overcome by far the %o os
| difficult and expensive portion OF the whole
line the probabilities Of the through connection
with tho Eastern lines being effected In 1870
amount almost 10 certainty.
The prominent feature in the progress Of the
| CENTRAL PACIFIC RAILROAD is the remarkably
large and profitable Local Business which is dc.
veloped upoH the completed portion, more than
| iustifying the estimates Of Its pf0lectors-that
the immense traffic between tho ports Of Cali.
! fOrnia and the mining regions of the int or
would sustain frst-Class railroad line, even IL
| the overland connections were not built The
net profit upon operating the link Of less 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
mOuntaiR transit Is made by the locomotive.
With every extension Of the track, the business
and profits of the completed part are increased
80 that when the overland through traffic shall
be centered upon the CENTRAL ROAD, the gen
ernl prosperity OF the company will be without
parallel, and its securities appreciated cores
pOndinRly. Tho CENTRAL PACIFIC RAILROAD
| COMPANY offer for sale theirElhSI MORTGAGE
THIRTY.YEAR SIX PER CENT GOLD
BONDS, and submit TO Investors tae
following, among other obvious considera-
tons; and invite the comparison with the merits
and eXcellencies Of any class Of Corporate Sc
0urities:
and valuable part Of the Grand National Pacific
Railroad. soon 90 become the main channel Of
communication on 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 Is now
built, and the remainder will be rapidly carried
| forward ever the Salt Lake Pains.
! ". The greatest part Of the means necessary
to build the road u provided by the U. s. Gov.
eminent upon = subordinate lien.
| V. Ike State aud chief cities Of California
have contributed upward Of 100000 TO the
| euIcIpIl5c "INhouA HVHs
VI. The giant OF Land is destissd at an early
day 10 prove Of far greater market value than
| 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 its revenues
are received In coin.
VIII. The management Of this company has
been In the highest degree prudent snd frugal,
and the whole surplns, after payment OF expense
and interest, IL devoted 10 Construction purpo-
ses
TX. The interest liabilities Of the company
are evennow less than third the net earnings
upon the road pledged.
x. Both Principal and IHttrsn are pagaJk q
GoH, under special provisions Of both National
md State enactment
Tho bonds ara In sums Of 5000 each, with
semiBnnual gold coupons attached, and are Of
fered for sale at IS per cent. OF their par value
and accrued interest from Jan. I, adAed, In cur
reney.
The back interest 10 charged at ak psr cent
this time they yield nearly
l.. 's...~a f.-. .......
f. ra- ...... -
NINE PER ckSz UPoy TIE HTES7
nRyT
=. a.#. as
Thess bonds BID fair 30 attain the most prom
. insnt position among the bgnzPeeulatiTs in
vestments Of ths country. and viii DO sstivel,
dealt IN Al the nsBey -eeBtrSs IN Europe
Holdsrs Of Governme1t aseurffiss have "a o.
Portznity o. exchanging them for Central n
J cihc Bonds bearing 40 equal rate Of tntsres,
With the principal Seli secured, and Of
Ef-
sr.
REALIZING 4 PROFIT or TEN TO IN