The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-05-06

cifc Railroad system, and which will form the
GRAND TRUNK ROUTE TO the Far West
upon which the mighty trans'continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-wbo are carrying IL forward with
greater energy and persistence than was ever
shown in any siptilar work in ancient or modern
times-will buiia, 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 possessiDg
the richest franchise ever granted on this CONT.
nent.
The Act Of Congress conCers upon the Corpo-
rations, besides the right of way across the Ter.
ritOries gift of IL 500 acres OF the public lands
per mile, contiguous TO this line, and en- appro-
priatiOn from the National credit OF SIXTY MIL.
LIONS in PER CRNT. BoNps, delivered as the
work progresses or halfthe 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 q small per centage Of their net earn
ings; they, therefore, cOnstitato an element Of
great strength 10 the corporations
The Act further authorizes them 10 isSue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, Irhich
shall be The first claim upon the ichOL6 railroad prop.
ertv, aud 20 ichich The lien Of he Government shall
BE- subordinate, as n 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 IL there
fore In an important sense, a SEln NATIONAL
WORK, aided and commended by the people the
Legislative power, and the Executive officers,
though its management is Administered Dth al
The care and JoTethOughf Of he most erHiEcRt private
corporations. Being under the constant super
yiGiOn Of the GoveTnment-who being the prin.
Cipal creditor, accepts subordinate and contin.
gent lien-with 30 largo 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 20 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 cenvorgiug 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 the Call
lOTnlh line. huNiuk w III Aln hoSa
difficult and expensive portion Of tho whole
line, the probabilities of the through connection
with tho Eastern lines being effected In 1870
amount almost 10 certainty.
The prominent feature in the progress OF the
CENTRAL PACIFIC RAILROAD Is the remarkably
large and profitable Local Business which is de-
velOped upon the completed portion, moro than
iustifying the estimates Of It's pIOicctOrS--that
the Immense traffic between the ports of Cali.
foTnia and the mining regions Of the into or
would sustain 6Tst-Class railroad line, even II
the overland connections we're not built. The
net profit upon operating the link Of loss than
one hundred miles, thus far, Teashea nearly two
millions in gold; aud this ratio viii he doubled
during the coming season, when the entire
transit Is made by the locomotive.
with every extension Of the track, the business
and profits Of the completed part arc increased
So 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 theirFIRST MORTGAGE
YEAR SIX PER CENT. GOLD
BONDS and submit 10 Investors TIE
among other obvious cOnsidera-
tons; and invite the comparison with the merits
and excellencies Of any class Of Corporate Sc.
Ourities:
!. These Bonds are based upon the most vital
and valuable part of the Grand National Pacific
Railroad. soon 10 become the main channel Of
on the continent.
H. The local settlement and business there
from IL remarkably large and profitable, and
must constantly increase.
III. The hardest part Of the road Ia now
built, and the remainder viii be rapidly carried
forward ever the Salt Lake Plains.
w. The greatest part OF the means necessary
to build the road Is provided by the U. $. Gov.
eminent upon a subordinate ten.
V. The State and chief cities Of California
have contributed upward Of s. OOO,O01 ~ the
enterprise without Hen.
VI. The grant Of land r. destined at an early
day TO prove Of far greater market yalue than
the total Of the first mortgage. bonds issued
upon the road and equipments.
VII. This road lies altogether among the gold
and dlyer-producing regions, and il revenues
arc received in coin.
VIII. The management Of this company has
been in the highest degree prudent and frugal,
and the u hole surplus. after payment Of expense
and interest, IL devoted 70 construction purpo.
ses.
TX. The interest liabilities Of the company
are even now less than a third the net earnings
upon the rUaA pledged.
X. Both Principal and IntSrest are pdyatL, IN
God, under special provisions Of both National
and State enactment.
The bonds are Ia sums Of 1900 each, with
semi-annual gold coupons attached, and are Of.
fered for sale AZ % per cent Of their par value,
and accrued interest from Jan. !. added, In cur
rency.
The bark interest II charged at HI per cent
In currency though repaid in foil In gold. AZ
this time they yield nearly
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