The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-09-05
CeniralPacific Railroad First
Mortgage Bonds.

1t Is commonly known that the General Gov
ernmaEt, for wise purposes, has given its aid
and encouragement to the construction OF one
MAIN THROUGH LINE OF RAILROAD from the Pa
cifc Ocean across the Territories 10 connect
with the various Eastern Branshes of the Pa
cifc Railroad system, and which viii form the
GRAND TRUNK ROUTE TO the Far West,
upon which the mighty trans'continental traffic
viii concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-who are carrying it forward with
greater energy and persistence than was ever
shown In any siRlilar work in ancient or modern
times-will buiin, 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 rs possessing
the richest franchise ever granted on this cont.
nent.
The Act of Congress confers upon the Corpo-
rations, besides the light OF way across the Ter.
ritories gift of II 500 acres OF the public lands
per mile contiguous to this line, and IN appro-
priation from the National credit OF SIXTY MIL
LIONS in PER CENT. BONDS, delivered as the
work progresses; or half the estimated cost OF
the Through Line and Branches. These Sub
sidy bonds the company may cancel in n course
of years by the Transportation services of the
Roads, and small per centage Of their net earn.
ings; they, therefore, consulate an element Of
great strength TO the corporations.
The Act further authorizes them to issue an
equal amount Of their own First Mortgage
Bonds of corresponding denominations, lhieh
shall be the first claim upon he tchoLe railroad prop.
eru and 10 tphich the lien Of the Government shat
be subordinate as 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 is there
fore, in an important sense, o SEbn-NATioNAL
WORK aided and commended by the people, the
Legislative power and the Executive officers,
though its management Is administered Nth al
the care aud JOrethOug Of The most eminent PIRATE
corporations. Being under the constant super
viOion of the Government-who, being the prin-
cipal creditor accepts a subordinate and contin-
gent lien-with so 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 the sane claims To conf.
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 cOnverging Branches be-
tween the Missouri River and the base of the
Rocky Mountains have been built within three
years The CENTRAL Pacific RAILROAD has
also steadly and successfully carried the Main
Stem Line from the steamboat navigation of the
Pacific to 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, the probabilities Of the through connection
wit Eaatarn luna DainU in
| amount almost to certainty.
The prominent feature in the progress of the
CENTRAL PA IFIc RAILROAD is the remarkably
large and prof table Local Business which In dc
velOped upon the completed portion, more than
iustifying the estimates of its pToiectOrs-that
the immense traffic between the ports of Cali.
fOrnia and the mining regions of the int,I or
would sustain a hrst-class railroad line, oven II
the overland connections were not built. The
net profit upon operating the link Of less than
one hundred miles, thus far, reaches nearly two
millions In gold; and this ratio will be doubled
during the coming season, when the entire
mountain 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
be conferred upon the CENTRAL ROAD, the gen.
eral prosperity Of the company will bc without
parallel, and its securities appreciated CORES.
pondingly. The CENTRAL PACIFIC RAILRsAD
COMPANY offer for sale theirFIkST MORTGAGE
THIRTY YEAR SIX PER CENT. GOLD
BONDS, and submit TO Investors TIE
following among other obvious COnsdera-
tions; and invite the comparison with the merits
and exoellencies of any class Of Corporate Sc.
0urities:
I. These Bonds are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad. soon TO become the main channel OF
communication on the continent
III. The local settlement and business Their o
from Is remarkably large and profitable, an d
must constantly increase.
III. The hardest part OF the road IL now
built and the remainder will be rapidly carrie I
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road Is provided by the L. 5. Gov
eminent upon a subordinate lien.
V. The State and chief cities Of California
have contributed upward Of S3,OOO,OOO 10 the
| enterprise without lien.
VI. The grant of land b destined 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 silver. reproducing regions, and its 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 eIpeDs'
and interest Is devoted TO construction purpo
/ ses.
TX. The interest liabilities Of the company
are even now less than n third the net earning
upon the road pledged.
X. Both Principal and Interea are pdyatb 4
Gold, under special provisions Of both SatiOna
and State enactment.
The bonds are in sums Of 1900 each, wit
semi-annual gold coupons attached, and are Of
fered for sale at % per cent. Of their par value
and accrued interest from Jan. l. ADDED in eui
rency.
The back interest Il charged at six per cen
In currency, though repaid In full in gold A
this time they yield nearly
NINE PER CEy1. UPON THE IyTES
MEM
These bonds bid fair TO attain the most 2fotL
inent position among the n0nSPecnIa.il.JI =
yestments Of the country, and wiz De
dealt in at the msney centres ~ EuI ~. 81, or
Holders Of Government securities G Sar, Y
portunity OF exchanging then r lSI Of iatersst
cihc Ponds bearing an equal rate
18th he principal well secured and Of
pr.LIzrye A PROFIT or TEN TO ri
TEEN PER CENT. ~ ADDITION
Orders sent with the funds through respons
bic Banks or Express Companies will reeeii
prompt attention. Bonds sSnt by return =