The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-06-04
Central Pacific Railroad First
Mortgage Bonds.

II ia commonly known that the General Gov.
eminent, for wise purposes, has given its aid
and encouragement to the construction Of ono
MAIN THROUGH LINE or RAILROAD IRON the Pa
citic Ocean Across the Territories 20 connect
with the various Eastern Branches Of the Pa
cifc Railroad system, and which will form the
GRAND TRUNK ROUTE 10 the Far West,
upon which the mighty trans-continental franc
will concentrate.
The CENTRAL PACIFIC RAILROAD
COAIPANY-who are carrying IL forward with
greater energy and persistence than was ever
shown In any siVllAr work in ancient or modern
times-will buila, equip, ewn 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.
The Act Of Congress confers upon the COrpo
rations besides the right OF way across the Ter.
ritories gift of u SO acres Of the public lands
per mile, Contiguous to this line, and an Appro-
priation from the National credit OF sixty MI
LIONS in PKR CENT. BONDS, delivered ~ the
work progresses; or half the estimated cost Of
the Through Line and branches. These sui
sidy bonds tho company may cancel In q course
of years by the Transportation services OF the
Roads, and n small per csntage Of their net earn.
ings; they, therefore, oonstitHte an element Of
great strength 70 the corporations.
The Act further authorizes them 90 issue an
equal amount Of their own First Mortgage
Bonds of corresponding denominations, 'rhieA
kka be the frat claim upon he srhots rdlroad prop.
erty and % t0hieh the l'sn Of ne Government shdA
be subordinate, = 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, SEm'NATloNAL
WORK aided and commended by the people the
Legislative power, and the Executive officers,
though its management Is administered nth dH
he care aud JoFethOuJht Of tbs most eminent PIRATE
eorpOrdtionS Being under the constant snper'
vinion Of the Government-who, being the prtn'
cipal creditor, accepts subordinate and oontin'
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 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
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
alao steadily 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
with the Eastern lines being effected In 1870
amount almost 10 certainty.
The prominent feature In the progress Of the
CENTRAL PACIFIC RAILROAD In the remarkably
largeand profitable Local Business which In de-
veloped upOH the completed portion, more than
iustifying the estimates of its Professionalism
the immense traffic between the ports Of Cali
fOrnia and the mining regions Of the intrI or
would sustain first-claSs railroad line, even 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 Do 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;
10 that when the overland through traffic shall
be conferred upon the CENTRAL ROAD, the gen
eral prosperity Of the company will be- without
parallel, and its securities appreciated CORES
pOndingly The CENTRAL PACIFIC RAILROAD
COMPANY offer for sale theirFLkST M0RTG AGE
THIRTY. YEAR SIX PER CENT. GOLD
BONDS, and submit 10 Investors ths
following among other obvious cOnsiderA-
tons; and invite the comparison with the merits
and excellenSies Of any class Of Corporate 80
eurities:
!. These Bonds are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad, soon 20 become the main channel Of
communication on the continent.
II. The local settlement and business there.
from In remarkably large and profitable, and
must constantly increase.
III. The hardest part Of the road Is now
built, and the remainder viii be rapidly carried
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road is provided by the u s. Gov
eminent upon subordinate Hen.
v. The State and chief citiss Sf Californil
have contributed upward Of EI000.OOO 20 tbs
enterprise without len.
VI. The grant OF land il destined at an early
day 20 prove OF far greater market value thar
the total Of the first mortgage bonds issued
upon the road and equipments.
VII. This road lies altogether among the gold
and ElverPrOducing 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 eIpeBs'
"A mt In deralRd IN eonatrucfiOn uurDO
ses.
TX. The interest liabilities Of the company
upon the road pledged.
X, Both Principal AID TnteTest are poyabk q
God, under special proviEiOns Of both SatlOna
and STATE enactment.
The bonds are In sums Of 5000 each. viii
semi annual gold coupons attached, and are Of
fered for aals at s5 per cent % their par value
and accrued interest from Jan. ! ADDED, In cur
| rency. ~
The back interest Il charged At SIX per cent
in currency, though repaid In fali in 9old. A
this time they yield nearly
gIgE PER CENT. UPON THE IyVES7
kEgT
4 Theae bonds bid fair 70 attain the most prom
/ iDeut position among the nOu-sPeculatiTe In
yeEtnsnts Of the country, and win Be- astivsi
| dealt in AZ The msney-eeptrea In RurUpe.
Holders OF Government securities have an q
! p0rtunity Oi exchanging them for Central ii
| cihe Bonds bearing an equal rsts Of iBtsrSs
With the priucipAl vel seeurod, and Il
REALIZING PROFIT or fBS TO IN