The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-05-02
Central Pacific Railroad First
Mortgage Bonds.

Mortgage Bonds.
IT'S commonly known that the General Gov.
eminent, for wise purposes has given its aid
and encouragement 70 the construction OF one
MAIN THROUGH LINE OF RAILROAD from the Pa.
d, ifc Ocean across the Territories TO connect
with the various Eastern branshes OF the Pa
oifc Railroad system, and which will form the
GRAND TRUNK ROUTE 70 the Far West,
upon which the mighty trans-cOntinental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
are carrying IL forward with
greater energy and persistence than was ever
shown ia any siVilar work in ancient or modern
bui,I 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 a. possessing
the richest franchise ever granted on this CONT
nent.
The Actof Congress cOntcrs upon the Curpo-
rations, besides the right Of way across the Ter.
ritcries a gift Of - sou acres OF the pnblc lands
per mile, contiguous 10 this line, and TN Appre'
priation from the National credit of sixty NIL.
LIONS in FER CENT. BONDS delivered a. the
work progresses; OF hAlfthe 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 carr
ings; they, therefore, consulate an element OF
great strength TO the corporations.
The Act further authorizes them 10 issue an
equal amount Of their own First Mortgage
IL &c rnrraapnuiinU dannmi finug gNhlTl
shall be he first claim upon ne tchole railroad prop.
ertv, and % IrIieh The hen Of the Government shdu
BE- subordinate, rs q means OF more readily secur'
ing the remaining half Of the capital for the con
struction; the equipments, &c, being provided
ont of the capital stock subscriptions and other
sources.
The great CENTRAL PACIFIC RAILROAD IN there
fore, in an important sense, q SEMNATIoNAL
WORK, aided and commended by the people, the
Legislative power, and tho Executive officers,
though its management is administered Uih al
the care and JOrethOugh Of ue most eminent PIRATE
Being under the constant super
vision Of the GOvernment,-who being the prin'
cipal creditor, accepts q subordinate and contin-
gent ien-with 30 large an amount Of addition.
al capital also invested in the property pledged
il Ii believed that no securities now offered IN
the market possess the sane claims 20 comb
dence and market value, eTcelt those Of the
Government.
Under these lavoring 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 steadily and successfully carried the Main
Stem Line from the steamboat navigation OF the
Pacific 20 the summit of the Sierra Nevada and
into the Great Salt Lake Basin east Of the Cali
furnia line Having overcome by far the most
difficult and expensive portion Of the whole
line. the probabilities of the through connection
with the Eastern lines being effected In IsIu
amount almost 10 certainty.
The prominent feature in the progress of the
CENTRAL PACIFIC RAILROAD Ia the remarkably
large and profitable Local Business which is de
veloped upon the completed portion more than
iustffying the estimates Of its professionalism
the immense traffic between the ports Of Cali
fOrnia and the mining regions of the int'' OF
would sustain q hTst-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, reaShes nearly two
millions in gold; and this ratio will be- doubled
during the coming season, when the entire
mountain transit - made by the locomotive.
With every extension OF the track, the business
anu pIOuNo Vi tut Gbup ltN'A pAA aAp AAgiNaha'l
80 that when the overland through traffic shall
be ceutered upon the CENTRAL ROAD the gen
eral prosperity of the company will DO without
parallel, and its securities appreciated CORES
pondingly. The CENTRAL PACIFIC RAlLReAn
CoNPANY offer for sale theirFlhST MORTGAGE
THIRTY.YEAR SIX PER CENT GOLD
BON and submit TO Investors TIE
following, among other obvious cODsidera-
tons and invite the comparison with the merits
and excellenci,s OF any class Of Corporate Sc.
Gurities:
]. These Bends are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad. soon 70 become the main channel OF
communication on the continent.
II. The local settlement and business there
from il remarkably large and profitable and
must constantly increase.
III. The hardest part of the road il now
built and the remainder will be rapidly carried
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road is provided by the Z. 3. Gov
eminent upon a subordinate lien
V. Tie State aud chief cities Of CaliforEi.
nave NDUtflDuNu WDN hIu VI s1fFNytf3D W Wv
enterprise without hen.
VI. The giant Of land il destiRed at an early
day TO prove Of FAR greater market value thar
the total Of the frst mortgage bonds issuec
upon the road and equipments
and silver-producing regions, and its reVenuei
are received In coin.
VIII. The management Of this company ha
been In the highest degree prudent and frugal
and the whole surplus. after payment OF eIpeBs'
and interest, Ia devoted 20 construction purpo
ses.
TX. The interest liabilities Of the COMPANY
are even now lesA than q third the net earning
upon the road pledged.
X Both Principal and IAteTsE are p1yab, Il
Gold under special provisions Of both NationA
and State enactment
The bonds are 10 sums Of 5000 each will
semi-aunuAl gold coupons attached, and are Of
ferei for sale AZ Is per cent OF their par value
and accrued interest from Jan. ! ADDED In cur
rency.
The back ibtsrest il charged at siI per cen;
in currency though repaid IN full IN oold A
this time they yield nearly
VINE PER CENT. UPON THR TYTES7
HEST
These bonds bid fair 20 attain the most SrUu
inent position among the n01-sPAcnlatiVe "a
yestnentA Of the country, aud VIII be astivel
dealt in AZ tbe, nsnoy .csDtres In Europe.
Holders Of Government securities have an 0,
portubity Of exchanging them for Central n
ei6c Bonds bearing an equal rate Of infsrs-
with the principal well secured, and o.
REALIZING A PROFIT or ZEN TO III
IgEE PER CENT. IL ADDITION