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

Central Pacific Railroad First
Mortgage Bonds.
II is commonly known that the General Gov.
ernmaut, for wise purposes, has given its aid
and encouragement to the construction OF one
MAIN THROUGH LINE OF RAILROAD from the Pa.
cihc Ocean across the Territories 70 connect
with the various Eastern Branshes of the Pa
cihc Railroad system, and which wiz form the
GRAND TRUNK ROUTE 10 the Far West,
upon which the mighty trans-continental traffic
viii concentrate.
The CENTRAL PACIFIC RAILROAD
are carrying IL forward with
greater energy and persistence than was ever
shown IN any siV'ilar work in ancient or modern
bui'1, 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 en- this CONT
nent.
The Act of Congress cOnfcrs upon the Corpo-
rations, besides the right Of way across the Ter
ritories gift of l., 500 acres Of tho public lands
per mile, contiguous TO this line, and en- appro.
priation from the National credit OF sixty NIL.
LIONS in FER CENT. KoNDs, 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 q course
OF years by the Transportation services of the
Roads, and a 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, tchieh
shall be the first claim upon Ae tchols railroad prop.
eTtv and 10 tchieh the li6B Of the Government ShGH
be subordinate, as o means OF more readily secur'
ing the remaining half OF the capital for tho con.
stfuction; the equipments, SO, being provided
out of the capital stock subscriptions and other
sources.
The great CENTRAL. PACIFIC RAILROAD Is there
fore in an important sense, a SHMI.NATToNAL
Work, aided and commended by the people, the
Legislative power, and the Executive officers,
though its management Is administered NTH al
tle care and torethOtgh Of The most eminent pirate
corporations. Being under the constant super
vision Of the GOvemment--who, being the prin'
cfpal creditor, accepts subordinate and cdutin.
gent lien-with 50 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 comb
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 cenverging Branches 10
tween the Missouri River and the base of the
Rocky Mountains have been built within three
~ $40. l.
also steadily and successfully carried the Main
Stem 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 the whole
line tho probabilities of the through connection
with the Eastern lines being effected in 1874
amount almost 10 certainty.
The prominent feature In the progress Of the
CENTRAL PACIFIC RAILROAD Ia the remarkably
large and profitable Local Business which h do
velOped upon the completed portion, more than
iustifying the estimates of its pToiectOrs-that
the immense traffic between the ports OF Cali
forniS and the mining regions Of the int or
would sustain n trst-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, reaches 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 traihc shall
be conferred upon the CENTRAL ROAD, the gen.
eral prosperity oil the company WIN DC without
parallel, and its securities appreciated CORES.
pondingly. The CENTRAL PACIFIC RAILROAD
I TTnpTv oII , SIY psp cRNT GnI n
II a ~ InTpalnFa ma
following among other obvious c9nsldeTa-
tonsi ana lnyite me conipailson WIZ lhe merits
ana e1ceiIehcleA OF any enASs o. CORPORATE 80
Tbaso pards are baseJ imam tho p,ost vital
aud ,.oinabIo n,rt ~ tho Grand Ns,InnnI pacIIIc
pat,rcaJ sn,n o. hosn,,o tha main ch,nn.I ~
rs,,, ~ icosinn an tbc Continent ''
IL INC local stJ,s 1ara mn sns,sIJ
Ii". - i,,oraas "''i
iNu'' ''"" AMY '"
III III ~ lii ~ .,Igi, r,,,Io
I'd do over ths Salt Tate Plains
iO' ""'H ''' ''o ""''
~. The greatest part Of the means necessary
TO bnild the ROAD Is PROVIDED by the u D. Ioy
eminent upon suOordinAte lien.
Y TLa s,.,s orJ eLt.F ci,i.s NJ C,Iito,,is
enterprise without len.