The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-10-08
Central Pacific Railroad First
Mortgage Bonds.

1
Mortgage Bonds.
1t is commonly known that the General Gov.
ernmont, for wise purposes, has given its aid
and encouragement 10 the construction of one
MAIN THROUGH LINE OF RAILROAD from the Pa
cihc Ocean across the Territories 10 connect
with the various Eastern Branches OF the Pa
cihc Railroad system, and which will fern the
GRAND TRUNK ROUTE TO the Far West,
upon which the mighty trans-continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
| COMPANY-who are carrying IL forward with
greater energy and persistence than was ever
shown in any similar work in ancient or modern
times-will builn, equip own and control the
Western Half of this Through Line. the most
productive, favored, and valuable portion of the
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 500 acres Of the public lands
per mile contiguous To this line, and Gn appro-
priation from the National credit of SIXTY MIL
| LIONS in 6 PER CENT. BONDS, delivered "a 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 years by the Transportation services Of the
Roads and n small per centage of their net earn.
| ings; they therefore consulate an element Of
great strength TO the corporations.
The Act further authorizes them to issue an
equal amount of their own First Mortgage
| Bonds of corresponding denominations, tOhich
shall be the first claim upon The lchOLe railroad prop
erty and 10 i0hieh the lien Of The Government shall
be Subordinate as a means of more readily secur.
ing the remaining half of the capital for the con.
structon; the equipments, 60, being provided
out of the capital stock subscriptions and other
sources
The great CENTRAL PAcIFIS RAILROAD is there.
| fore in an important sense a SRNn-NATIoNAL
| WORK aided and commended by the people the
! Legislative power, and the Executive officers
| though its management Is administered ruth al
the care aud fOrethOught Of the most eminent private
corporations. Being under the constant super
| vision of the GOvernment-who being the prin.
| Cipal creditor accepts subordinate and COntn-
| gent ien-with so 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 1900 miles
of the Main Line and cenverging Branches be
tween the Missouri River and the base of the
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 tho Cali
fornia line Having overcome by far the most
difficult and expensive portion OF the whole
line the probabilities Of the through connection
with tho Eastern lines being effected in l57O
amount almost to certainty.
The prominent feature In the progress Of the
CENTRAL PA IEIC RAILROAD IL the remarkably
large and profitable Local business which is de.
veloped upon the completed portion, more than
iustitying the estimates Of its pTOieCtOrs-that
the immense traffic between the ports Of Cali.
fOrnia and the mining regions Of the inttI or
would sustain trst-class railroad line, oven 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 be 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
so that when the overland through traffic shall
be Centered upon the CENTRAL ROAD, the gen
cTal prosperity of the company will be without
parallel, and its securities appreciated cores
pOndingly. The CENTRAL PACIFIC RAILRsAD
COMPANY offer for sale theirFIkST MORTGAGE
Il THIRTY.YEAR SIX PER CENT. GOLD
Il n ID S, and submit to Investors tao
following, among other obvious cOnsidora-
tons; and invite the comparison with the merits
and excellonces of any class OF Corporate Sc
Gurties
!. These Bonds are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad, soon 10 become the main channel OF
communication on the continent
II The local settlement and business Their @
from Is remarkably large and profitable, and
must constantly increase.
III. The hardest part of the road IL now
built, and the remainder will be rapidly carrie
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road Is provided by the u. ). Gov.
eminent upon a subordinate lien.
, V. The State and chief cities Of California
have contributed upward Of SJOOOOOO 20 the
enterprise without lien.
vi. The grant Of land ia destined at an early
t day 70 prove Of far greater market value than
} the total Of the first mortgage bonds iasned
upon the road and equipments.
VII. This road lies altogether among the gold
and silver producing regions, and its revenues
are received in coin
q VIII. The management Of this company bAs
been in the highest degree prudent and frugal
and the whole surplus, after payment OF expense
and interest, is devoted TO construction purpo
ses.
TX. The interest liabilities Of the company
a are even now iess than a third the net earrings
\ upon the road pledged.
X. Both Principal and Tntsrost are payaJk 1,
Gold, under special provisions Of both Nationa
and State enactment.
The bonds are in sums Of 1900 each, Wit
semi-annual gold coupons attached, and are OF
fered for sale at - per cent. Of their par value
and accrued interest from Jan. !, ADDED, in cur
rency.
The back interest Is charged at six per cen
In currency, though repaid In full In gOId. A
this time they yield nearly
NINE PER CENT. UPON THE LYVES.
NEST
These bonds lid fair TO attain the most jill H.
inent position among the non ~ 81 sstiysI
vestFnents Of the country, and VII ~ -
dealt in al the msDey-esDtres 10 Eui -. -, %,
Holders Of Goysm@snt ~, ssei Tor Central Z
eisc Ponds bearing an equal rate % ~
WI With he principal vel secured and o.
pK,LrzIyG 4 PROFIT or TEN TO FL
TEEN PER CENT ~ ADDITION
Orders sent with the funds through respob,
ble Banks OF Express Companies will reesi,
prompt attention. Bonds ssnt by return Z
pres 20 any address in the United States,
our cost lnforp alton, Descriptive pAmphl-;