The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-08-19


ernmOut, for wise purposes, has given its aid
and encouragement 10 the construction of one
MAIN THROUGH LINE or RAILROAD from the Pa
citc Ocean across the Territories 10 connect
with the various Eastern branshes OF the Pa
cifc Railroad system, and which will form the
GRAND TRUNK ROUTE TO the Far West
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANI-who are carrying IL forward with
greater energy and persistence than was ever
shown In any SIMILAR work in ancient or modern
times-will buiii, 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.
Tho Act Of Congress cOn(ers upon the Corpo
ratiOns, besides the right OF way across the Ter
ritories gift Of IL $40 acres OF the public lands
per mile, contiguous to this line, and Gn appro.
priation from the National credit Of sixty NIL.
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 csurse
of years by the Transportation services of the
Roads and small per contage of their net earn
ings they therefore, consulate an element Of
great strength 10 the corporations.
The Act further authorizes them TO issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations trhieh
shall be the frgt claim upon The tchOle railroad prop
erty and 10 lohieh uts lien Of The Government shat
be subordinate, as a means Of moro readily secur.
ing the remaining half of the capital for the con.
structiOn; the equipments &c, being provided
out of the capital stock subscriptions AID other
sources.
The great CENTRAL Pacific RAILHOAp il there
fore in an important sense a SEM NATIONAL
WORK, aided and commended by the people, the
Legislative power and the Executive officers,
though its management In administered Uih al
the care and torethOuyM NJ s most eminent pirate
corporations. Being under the constant super
viGiOn of the GOvernment-who. being the prin
cipal creditor, accepts q subordinate and Contin'
gent lien-with 30 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 same claims Ia conf.
dence and market value, except those Of the
Government
Under these iavoring auspices very gratifying
progress has been made in extending the railroad
track from both directions. Nearly 1850 miles
of the Main Line and COnyefging Branches he
tween the Missouri River and the base of the
Rocky Mountains have been built within three
years. The CENTRAL Pacific RAILROAD ha,
also steadsy and successfully carried the MAR
Stem Line from the steamboat navigation of thu
Pacific 10 the summit Of the Sierra Nevada, an,
into the Great Salt Lake Basin east Of the Cali
furnia line Having overcome by far the mos
difficult and expensive portion of the who'll
line, the probabilities of tho through connection
with tho Eastern, lines being effected In ls7t
amount almost 10 certainty.
The prominent feature in the progress Of tn,
CENTRAL PA Tic RAILROAD Is the remarkably
large and profitable Local Business which IL de
velOped upon the completed portion. moro thar
ustifying the estimates of it, pToiectOrs-tha
the immense traffic between the ports Of Cali
fonia and the mining regions of the int'i u
would sustain n first-class railroad line, oven !
tho overland connections were not built. TIL
net profit upon operating the link Of less thar
one hundred miles, tbuafAr, reaches nearly tw'
millions in gold; and this ratio will I've doubles
during the coming season, when the entiT
mOuntaiR transit Is made by the locomotive
With every extension Of the track the busines
and profits Of the completed part are increased
10 that when the overland through traffic shall
be conferred upon the CENTRAL ROAD, the gen
eral prosperity Of the company will be withou
parallel, and its securities appreciated CORES
pOndingly. The CENTRAL PACIFIC RAfLRaAl
COMPANY offer for sale thcirFIkST MORTGAGE
THIRTY.YEAR SIX PER CENT. COLI
Boz DIS, and submit 20 Investors IL
following. among other obyions cOnsidera
tons; and invite the comparison with the merit
and eXcellencies Of any class Of Corporate ~
Gurities:
!. These Bends are based upen the most vita
and valuable part Of the Grand National Pacih
Railroad soon to become the main channel Q
communication on the continent
II. The local settlement and business thor
| from IL remarkably large and profitable. an
must constantly increase.
III. The hardest part Of tho road Ia no'
built, and the remainder will be rapidly carrie
| forward over the Salt Lake Plains.
". The greatest part Of the means necessar
to build the road Il proyidod by tho L. >. Got
eminent upon a subordinate lien.
V. The State and chief cities OF CaliforDi
have contributed upward Of sJ,OOO,Ooo To th
enterprise without lien.
VI. The grant Of land Il destined at an earl
day to prove Of far greater market value tina
the total OF the first mortgage bonds issue
upon the road and equipments.
| VII. This road lies altogether among the gol
and silver. producing regions, and Its reyenu
| are received In com.
VIII. The management Of this company b
| been IN the highest degree prudent and fruRz
and the whole surplus, after payment Of eIpeb
and interest, Is devoted to construction purp
SEES.
TX. The interest liabilities Of the eOmpar
are even now less than a third the net earfiin
upon the road pledged.
Y. Both Principal and InteTIa are payatA
God. under special provisions Of both Nation
and State enactment.
The bonds are In sums Of 1900 each. vi
seni. annual gold coupons attached, and are
| fsred for sale at IS per cent OF their par VAu
| and accrued interest from Jan. ]. aided, In CO
reney.
The hack interest Il charged at hI per eel
In currency, though repaid in full In gOtd
this time they yield nearly
VINE PER CENT. UPON THE YVEl
MEgT
These bonds I'D fair 10 attain the most pro
inent position among the p0napeerl&iiye
yestments Of tbs country, and viii be AstiE
dealt In At the msney centres In Europe.
Holders Of Government securities hsve an
pOrtunity OF exchanging tbsm for Csnifh
cine Ponds bearing An sqnal nate OF ihtsts
zith the principal well occurred, and Of
REALIZING A PfOFIT or TEN TO y
TEEN PEE CENT IN ADDITION.
orIer. ssut With the funds through respo'