The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-04-24
DESIRABLE
| Principal & Interest in Gold Coin.
Central Pacilic Railroad First
Mortgage Bonds.

lCentraI PaciIic Railroad First
Mortgage Bonds.
IL ia commonly known that the General Gov.
ernmsnt for wise purposes, has given its aid
and encouragement 10 the construction OF one
MAIN THROUGH LINE or RAILROAD nom the Ia
Cifio Ocean across the Territories 10 connect
with the various Eastern branches Of the Pa
citic Railroad system, aud which viii iurm the
GRAND TRUNK ROUTE TO the Far West,
upon which tho mighty traRs'continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
! COMPANY-Yho are carrying IL forward with
greater energy and persistence than was ever
shown In any sV'ilar work in ancient or modern
times-will builu, 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.
The Act of Congress conCeTs upon the Corpo-
rations, besides the right Of way across the Ter
rtories gift of - 500 OF the public lands
per mile, contiguous 20 this line, and an appro.
prietion from the National credit Of sixty NIL
LIONS in q FER CENT. BONDS, delivered ~ the
work progresses or half the estimated cost OF
the Through Line and Branches. These Sub
sidy bonds the company may cancel IN course
!. of wears by the Transportation services OF the
Roads and a small per centage Of their net earn.
tngs they, therefore, consulate an element OF
great strength 10 the corporations
The Act further authorizes thcm 20 issue an
| IT ,atH kINaN On IA
| Bonds of corresponding denominations, 'SIieh
shall be the dTSt claim upon S l0hols railroad prop
erty and 20 tohich the lien Of tie Government shall
be subordinate, as 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 great CENTRAL Pacific RAILROAD Is there
fore In an important sense, n SgAFNAIioNAL
WORK, aided aud commended by the people, the
Legislative power and the Executive officers,
| though its management is administered ibth az
the care and Jorehough Of the most eminent PIRATE
corporatiOnS Being under the constant super
vision of the Government--whO, being the prtn'
cipal creditor, accepts subordinate and contin'
| gent len-with so large an amount Of addition
al capital also invested In the property pledged
it is believed that no securities now offered in
tho market possess the sane claims 10 conf
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 cOnyergiDg Branches be.
! tween the Missouri River and the base OF the
4 Rocky Mountains have been built within three
years The CENTRAL Pacific RAILROAD has
also 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 Call
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 to certainty.
The prominent feature in the progress Of the
CENTRAL PACIFIC RAILROAD ia the remarkably
large and profitable Local Business which Is de-
velOped upon the completed portion, more than
iustffying the estimates of It's PROFESSIONALISM
the immense traffic between the ports Of Cali
fornia and the mining regions Of the int'' or
would sustain q hrst-class railroad Line, even u
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 b. doubled
during the coming season, when the sntire
mountain 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 traffic shall
be conferred upon the CfNIhAL lADADt Jnb yen
eral prosperity Of the company will be without
parallel, and It's securities appreciated CORES
pondinEly. The CENTRAL PACIFIC RAILROAD
COMPANY offer for sale theirFIkST MORTGAGE
Il THIRTY.YEAR SIX PER CENT. GOLD
BONDS and submit TO Investors tSe
Following, among other obvious considera-
tons, and invite the comparison with the merits
and exoellencies OF any class Of Corporate ~.
surities;
I H.. N,s,N Il
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 IL remarkably largo and profitable, and
must constantly increase.
|, III The hardest part Of the road IL now
built and the remainder will be rapidly carried
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
20 build the road is provided by the U. ). Gov.
eminent upon n subordinate lien.
V. The State and chief cities Of California
have contributed upward Of SJOO0,OOJ 10 the
enterprise without lien.
VI. The giant of land Is destined az an early
; DAY to prove Of far greater market valns THAI
ths 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 I'm the highest degree prudent and frugal,
| NJ h. hnla
5 and interest, IL devoted 70 construction purpo-
ses.
: TX. The interest liabilities Of the company
are even now less than third the net earnings
upOn the road pledged.
Y. Both Principal and IntsreSt are pdgaLls 10
Coll under special provisions Of both National
and state enactment.
The bonds are in sums Of 1900 each. viii
+ semannuAl gold coupons attached, and are Of
fered for sale at 95 per cent. Of their par yalue
and accrued interest from Jan. l, aided, In cor
rency.
The back interest Is charged at SIX per cent
, In currency, though. repaid In fni IN gold. ~
this time they yield nearly
; NINE PER CENT. TROY THE TYFE5T
L MEyT.
r
These bonds bid fair 20 attain the most prom
= inent positiOn among the D0nEpsculstiys ~
:: vestments Of The country, and will be agtiyel,
- dealt In at the mSney-ceDtres IN Europe.
HOldGrs Of Government securities haEe an %
ie portuBity Of exchanging them for Central "a
n ciae Bonds bearing an equal rate Of Interest