The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-12-30
Central Pacific Railroad First
Mortgage Bonds.

1t Is commonly known that the General Gov.
ernmont for wise purposes, has givsn its aid
and encouragement 10 the construction Of ono
MAIN THROUGH LINE OF RAILROAD from the Pa.
oiho Ocean across tho Territories 10 connect
with the various Eastern Branshes OF the Pa
ciho Railroad system, and which win form the
GRAND TRUNK ROUTR 70 the Ear West,
upon which the mighty trans-continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
C0MPANY-wbo are carrying 10 forward with
greater energy and persistence than was ever
shown in any siuiilar work In ancient or modern
times-will buila 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 rs possessing
the richest franchise ever granted on this cont.
nent.
The Act OF Congross confers upon the corpo
rations besides the right of way soross the Ter.
ritories gift Of IL 500 acres OF the public lands
per mile contiguous 70 this limo, and an appro-
priation from the National credit Of sixty NIL
LIONS in 6 fER cENr; BONDS, delivered as Che
work progresses; or half the estimated cost OF
the Through Line and Branches. These Sub
sidy bonds the company may cancel In conrao
Of years by the Transportation services OF tho
Roads, and q small per centage Of their net earn.
lngs, they thefetofe, ConsUtsto an olctncut OF
great strength 70 tho corporations.
The Act further authorizes them 20 issue an
equal amount OF their own First Mortgage
Bonds Of corresponding denominations. toAieh
shall be The first claim upon he tchole ruIroddpyop
ertg and 20 tohieh the lien Of tie Government shau
b. subordinate, a. n means Of moro readily secur
ing the remaining half Of the capital for the con
struction; tho equipments, 40, being provided
out Of the capital stock subscriptions and other
sources.
The great CENTRAL Pacific RAILROAD Ia there
fore In An important sense, a SEhr NATIONAL
WORK, aided and commended by the people, the
Legislative power, and the Executive onicors,
though its management Is administered Uith dh
The care aud JOr6thOuOh Of he most erinsIf private
eorpoTdtiOnS Being under the constant super
yinlon of the GOvenment-vho, being the 'prin'
cipal creditor, accepts subordinate aud contin'
gent lien-with 20 large an amount OF addition
al capital also invested In the property pledged,
10 Is believed that no securities now offered Ia
the market possess the sane claims % conn.
dence and market value, except thoso OF tho
Government
Undor these iavoring auspices very grauDin
progress has been made In extending the railroad
track from both directions Nearly 1000 miles
of the Main Limo and cOnvorging branches 40
tween the Missouri River and the base Of tho
Rocky Mountains have been built within three
years. Tho CENTRAL PACIFIC RAILROAD hAs
also steadily and successfully carried tho Main
Stem Line from the steamboat navigation Of the
Pacific 70 the summit Of the Sierra Nevada, and
into tho Great Salt Lake Basin east Of TIN Call.
fornia line. Having overcome by far the most
difficult and expensive portion Of the whole
line tho probabilities Of the through connection
with tho Eastern lires being effected la is10
amount almost TO certainty.
The prominent feature In the progress Of the
CESrWAL PA U1C RAILROAD Is the remarkably
large and profitable Local business which IA de.
Yeloped upon tho CoyaDlctsd portion, moro than
iustifying tho estimates ~ ds professionalism
the immense traffic between tic parts Of Cali.
fornia and tho mining regions OF tho int", or
would sustain first class railroad llno even n
the overland connections were not built. The
net profit upon operating tho 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 u made by the locomotive.
With every extension Of the track, the business
and profits Of the completed part arc increasodl
40 that when tho overland through traffic shall
be conferred upon tho CENTRAL ROAD. tho gen.
| oral prosperity Of the company will be without
parallel, and it, securities appreciated corrca.
p0ndingly. The CENTRAL PACIFIC RAILROAD
COMPANY offer for sale theirFlltST MORTGAGE
THIRTY.YEAR SIX PR CENT. GOLD
" y
following, among other obvious considers
tons: and invite the comparison with themerita
and cIosllsncies Of any class Of Corporate &C.
curities:
]. These Bonds are based upon tho most vital
and valuable part Of the Grand National Pacific
Railroad s0on 10 become the main channel Of
Communication on the continent
Ill, - ..Ns .uN anil lsnat hEr A
from IL remarkably large and profitable, aud
must constantly increase.
III. The hardest part Of tho road Il nov
built, and the remainder viii be rapidly carriod
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
| 10 build the road II provided BY the U. >. Gov
eminent upon a subordinate Hen.
v. The State and chief cities Of California
have contributed upward Of tJ.OO0,OOO % tho
enterprise without lien.
VI. Tho grant Of land IL destined at an early
day 70 prove Of far greater market value than
the total Of the first mortgage bonds Issued
upon the road and equipments.
| EvII This road lies altogether among tho gol d
and silver producing regions. and lts revenues
are received In coin.
VIII. The Management Of this company has
/ been In the highest degree prudent aod frugal
| and interest, Il devoted 10 construction purp@
| ses.
TX. The interest liabilities Of the company
aro even now lssa than third tho net earrings
| uuOn the road pledged.
Z Both Principal and IAL>yest az, p1yaJL fg
/ GoId under special prOyisiOns Of both HAtiOnf
| and state enactment.
The bonds are In sums Of tIOOs each, With
ssnI annual gold coupons sttaobei, and ars o.
! fered for sale At o. per cent Of their par ysue
and aorrued intsrsst from Jan. I. adaed, In cor.
rsDcy.
/ The back interest IL charged Al aiGy esnt
| lu errTeaey, though repaid In full In ga. A
this time they yield nearly
NINE PER CENT. UPON THE INVEST
1KYE.
Thess bonds bid fair 70 Attain the most prom.
inent position among the nOn-z1eculative In
vestnents Of the country. and viii be aEtivsly
dealt in At the msnsy centres In Europe.
Holders Of Governments securities have an Op
pOrtunity Of exchanging them for Central Pa
eine Bonds bearing an equal rate Of interest
with the principal Nen secured, and Of
REALIZING 4 PROFIT or TIN TO PIP
TEEN PER CgET. ~ ADDITION
/ Orlerz sent with The funds through reSpousi'
! bic Banks or Express Companies viii receive
prompt attention. Bonds ssnt By return III
! pfess 70 any address In the United states, At
our cost Information, Descriptive pamphlets,
/ Maps. &c, furnished On application AZ the once
OF the Railroad Company, No. a william
street, and Of
] Il uuATTuT