The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-03-05

ment is called to the advantages and assurances
of the
Central Pacific Railroad First
Mortgage Bonds.
| Its commonly known that the General Gov:
| ernmsnt for wise purposes, has given IT'S aiu
and encouragement to the CONSTRUCTION ol 4 on
MAIN THROUGH LINE OF RAILROAD from the Pa.
! cifc Ocean across the Territories 70 connect
with the various Eastern branshes OF the Pa
! cifc Railroad system and which wil form the
! GRAND TRUNK ROUTE TO the Far west
upou which the mighty traRs-continental traihc
will concentrate.
The CENTRAL PACIFIC RAILROAD
! COAIPANY-who are carrying it forward with
! greater energy and persistence than was ever
shown IL any similar work in ancient OF modern
| times-will build, equip, own and contrOi 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 cOnters upon the Corpo-
rations, besides the right of way across the Ter
ritories gift Of IL sOU acres OF the pubic ands
per mile, contiguous to this line, ana Sh appIo'
priation from the National credit OF Sixty MIL
! LIONS in 6 FER CENT. BOMBS, delivered as the
work progresses; or half the estimated cost oil
the Through Line and Branches. These Sub
sidy bonds the compsny may cancel III course
of years by the Transportation services oil the
| Roads and small per centage Of their net carr.
inCs: they therefore, constitute 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, ~hich
shall be the first claim upon the trh0te TdlITodd prop
erfy and 10 iChich the lien Of the Government shdI
be Subordinate. as n means OF more readily secur'
ing the remaining half of the capital for the con-
! stTuctiOn; the equipments &c, being provided
out of the capital stock subscriptions and other
sources.
The grcat CENTRAL Pacific RAILROAD is there
| fore In an important sense a MI-NATIONAL
| WORK aided and commended by the people, the
! | legislative power, and the Executive oilGerS;
| though its management Is administered ulh dH
the care and fUTethOugh Of the most eminent pTitdte
cgrpgrationE Being under the constant super"
| vision of the GOyernment-whO, being the pfln'
| cipal creditor, aCccptsa subordinate aud conhh-
| gent licn-with 80 large an amount OF addition
al capital also invested in the property pledged
| il is believed that securities now offered IN
tho market possess the sane claims to conn
drnce and market value, except 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 Eranches De
tween the Missouri River and the oasc "i tue
| Rocky Mountains have been Oullt WITHIN thtee
wears The CENTRAL Pacific RAILROAD has
also steadily and successfully carried the Main
StemI inc 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
| with tho Eastern lines being effected in 1870
| amount almost to certainty.
The prominent feature in the progress OF the
! CENTRAL PACIFIC RAILROAD Is the remarkably
! large and profitable Local Business which is de-
veloped upon the completed portion, more than
! iustifying the estimates of its pI0iectOrs-that
| the immense traffic between the ports OF Cali
! iOrnia and the mining regions oil the mt OF
would sustain frst-Class railroad line, even II
| the overland connections were not bnilt. The
net profit upon operating the link OF less than
| one hundred miles thus TAR, 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
30 that when the overland through traihc shall
! be conferred upOn the CENTRAL ROAD the gen.
eral prosperity Of the company viii be without
| parallel and its securities appreciated cores
! pOndingly The CENTRAL PACIFIC RMLReAp
! CoNPANYofrcr for sale therFIfISI MORTGAGE
| THIRTY.YEAR SIX PER CENT. GOLD
! BON DIS, and submit to Investors TIE
following among other obvious conSidera-
tons: and invite the comparison with the merits
and exceenciCs of any class OF Corporate Sc
curities:
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.
! IT. The local settlement aud business there.
/ from is remarkably large and profitable, and
must constantly Increase
! Ill The hardest part Of the road Is now
built, and the remainder will bc rapidly carried
| forward over 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 sJOVOOOO TO the
enterprise without lien.
! VI. The giant of land is desticed at an early
day TO prove of far greater market yalue 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 and frugal,
and the whole surplus, after payment OF expense
and interest, is devoted TO construction purpo.
ses.
IX. The interest liabilities Of the company
are even now less than third the net earnings
upon the road pledged.
Y. Both Principal ard Interest are PAYABLE 10
Gold, under special provisions Of both National
and State enactment.
The bonds are In sums Of $1,000 each. with
semi-aHnual gold coupons attached, and are Of
fered for sale at % per cent. Of their par value
and accrued interest from Jan. l, adsed, in cur.
I rency.
The back interest is charged at six per cent.
in elrrencV though repaid in fill In gold. At
this time they yield nearly
NINE PER CENT. UPON THE INVEST
HEyE
These bonds bid fair 20 attain the most prom.
inent position among the nonspeculstiVe in
vestmcHts Of the country, and will be actively
dealt in at the msney-centrss in Europe.
Holders OF Government securities have an OPP
pSrtuuity Of exchanging them for Central Pa
ciie Bonds bearing an equal rate Of interest,
with the principal well secured. and Of
REALIZING 4 PROFIT or TE-- To FIF:
TEEN PER CENT ~ ADDITION
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