The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-09-26
Central Pacific Railroad First
MOrtS age Bonds.

1t is commonly known that the General Gov
ernmeut for wise purposes, has given its aiC
and encouragement 10 the construction OF on,
MAIN THROUGH LINE OF RAILROAD from the Pa
cific Ocean across the Territories 70 connec
with the various Eastern Branshes Of the Pa
citc Railroad system, and which will form III,
GRAND TRUNK ROUTE 10 the Far West
upon which the mighty tralscontinental trafli,
will concentrate.
The CENTRAL PACIFIC RAILROAD
are carrying il forward will
greater energy and persistence than was eve
shown in any similar work in ancient or modern
times-will builu, equip, own and control tn,
Western Half Of this Through Line. the mos
productive, favored, and valuable portion Of Oh,
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 IL 800 acres Of the public land,
per mile, contiguous TO this line, and IN appro
priation from the National credit ofSIxTY MIL
LIONS in PER CENT. BONDS, delivered a. th,
work progresses or half the estimated cost o.
sidy bonds the company may cancel In o course
of years by the Transportation services Of the
Roads, and q small per centage of their net earn
ings; they, therefore, constitute an element OF
great strength 10 the corporations.
The Act further authorizes them to issue M
equal amount of their own First MOrtgag,
Bonds of corresponding denominations, EhioI
shall be the first claim upon he ioh0e railroad prop
n Al Al
be subordinate, rs q means of more readily secur
ing the remaining half of the capital for the con
strpction; the equipments, &c, being provided
out Of the capital stock subscriptions and other
sources.
The great CENTRAL Pacific RAILROAD il there
fore, in an important sense, q SEMI NATIONAL
WORK, aided and commended by the people, the
Legislative power and the Executive officers
though its management Is administered toih al
the care and orethOtgh Of the most eminent prirat,
corporations. Being under tho constant super
vision of the Government-who, being the prin
cipal creditor accepts subordinate and contin
gent lien-with 40 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 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 cOnverging Branches be
tween the Missouri River and tho base of th,
Rocky Mountains have been built within thre'
years. The CENTRAL PACIFIC RAILROAD Ia,
also steadlIy and successfully carried the MaiI
Stem Line from the steamboat navigation of th'
Pacific TO the summit of the Sierra Nevada, an'
into the Great Salt Lake Basin east Of the Cali
It,,a g. Ia.
difficult and expensive portion of the who'll
line, the probabilities of the through connection
with tho Eastern lines being effected in 1871
amount almost TO certainty.
The prominent feature in the progress Of tn,
CESTRAL PA IPIC RAILROAD is the remarkabl,
large and profitable Local business which Is de
velOped upon the completed portion, more thar
iustifying the estimates of its pfojectOrs-tha
the immense traffic between the ports of Cali
fornia and the mining regions Of the inter o
would sustain q tirstClass railroad line, even /
the overland connections were not built. Tn
net profit upon operating the link Of less thar
one hundred miles, thus tar, reaches nearly twi
millions in gold; and this ratio will be doubles
during the coming season, when the entir,
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 shal
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 RAILRsAl
COMPANY offer for sale tbeirFIRST MORTGAGE
THIRTY-YEAR SIX PER CENT. COLI
BON s. and submit to Investors ~
following among other obvious cOnsidera
tons; and invite the comparison with the merit
and excellencies Of any class OF Corporate &c
eurities
l. These Bonds are based upon tho most vita
and valuable part of the Grand National Pacih
Railroad. sOOn 10 become the main channel q
communication on the continent.
II. The local settlement and business Their
from is remarkably large and profitable, an
must constantly increase.
III. The hardest part Of the road Is nov
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 provided by the U. :. Cox
eminent upon n subordinate lien.
V. The State and chief cities Of CaliforDi
have contributed upward Of SJ,0OO,0DO 10 th
enterprise without lien.
VI. Tho grant OF land is destined at an earl.
day 20 prove Of far greater market value thai
upon the road an. and sanipments.
VII. This road lies altogether among the gol'
aud silverproducing regions, and its reVenns
are received in coin.
VIII. The management Of this company hs
been in the highest degree prudent and fruga
and the whole surplus, after payment Of eIpcBs
and interest, Is devoted 10 construction purp'
ses.
=
TX The interest Liabilities OF. o. .n s, eonRsn
v po,, p,,n,;,n, and inferred are payabE
ANU '''''
fered Tor sac A. - per cent Oh 'nsh pa ga
IL. IL