The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-03-11
Central Pacific Railroad First
Mortgage Bonds.

IL il commonly known that the General Gov.
eminent for wise purposes, has given its aid
and announcement 20 the construction OF one
MAIN THROUGH LINE OF RAILROAD from the Pa
cifc Ocean across the Territories - connect
with the various Eastern bTanshes OF the Pa'
cifc Railroad system, and which viii form tho
GRAND TRUNK ROUTE 10 the Far West
upon which the mighty transcOntinental traffic
viii concentrate. .a m....
The CENTRAL PACIFIC RAILROAD
COMPANY-Who are carrying II forward with
greater energy and persistence than was ever
shown In any similar work In ancient or modern
times-Eill build, equip, 0Nn 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. . g..4...
The Act Of Congress confers upon the Corpo.
rations, besides the right Of way across the Ter
rtories, gift Of II 800 acres OF the public lands
per mile, contiguous 10 this line, and Tn appro.
priation from the National credit Of Sixty NIL
LIONS in 6 PER CENT. BONDS, delivered rs the
work progresses or hAlfth estimated cost of
the Through Line aud Branches. These Sub
sidy bonds the company may cancel in a course
Of years by the Transportation services Of the
Roada, and small per oentage Of their net earn
fngs they therefore constitute 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, ichicA
shall be The Erst claim upon the traoIe rndrodd prop
srty aud 10 icAich the lien Of the Government shaA
be subordinate, as q means Of more readily secur
ing the remaining half Of the capital for the con
struetion; the equipments, sc, being provided
out Of the capital stock subscriptions and other
sources.
The great CENTRAL Pacific RAILROAD Is there.
fore, in an important sense, a SENf-NATIoNAL
Work aided and commended by the people the
Legislative power, and the Executive officers,
though Its management is administered HuA az
the care aud JOrethOugh Of The most eminent PIRATE
corporations. Being under the constant super
viSion of the Government-whO,b being the prin-
cipal creditor, acceptsR subordinate and contin'
gent lien-with 80 large an amount Of addition
al capital also invested In the property pledged
it Is believed that no securities now offered in
the market possess the sair 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 1900 miles
of tho Main Line and convergiug Branches be-
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 10 the summit Of the Sierra Nevada, and
into the Great Salt Lake Basin east Of the 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 1870
amount almost TO certainty.
The prominent feature In the progress Of the
CENTRAL PACIFIC RAILROAD ~ the remarkably
large and profitable Local Business which IL de.
velOped upon the completed portion, more than
iustifying the estimates Of its projectOrs-that
the immense traffic between the ports Of Cali
fOrnia and the mining regions Of the into or
would sustain o frst-class railroad line, even 10
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 he 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 eentsred upon the CENTRAL ROAD, the gen
eral prosperity Of the company viii be without
parallel, and its securities appreciated corres
pondingly. The CENTRAL PACIFIC RAILROAD
CuMPANY offer for sale theirFITlST M0RTG AGE
THIRTY.YEAR SIX PER CENT. GOLD
BONDS, and submit TO Investors tie
following, among other obvious cousdera-
tons and invite the comparison with the merits
and eEcellencies Of any class Of Corporate ne
curities:
]. These Bends 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.
III. The local settlement and business there
from is remarkably large and profitable, and
must constantly increase.
III. The hardest part Of the road Is now
built and the remainder win be rapidly carried
forward over the Salt Lake PlAins.
". The greatest part Of the means necezsary
to build the road Is provided by the U, ). Gov
eminent upon subordinate lien.
". The State and chief cities Sf California
have contributed upward Of S3OOo,oO 10 the
enterprise without lien
vi. The grant Of land Ia destined At an early
day to prove Of far greater market value than
the total Of the FIRST mortgage bonds issued
upon the road and equipments.
VII. This road lies altogether among the gold
and silyerprodnCiag regions, and Its revenues
are received in coin. T-
VIII. The management Of this company has
been In the highest degree prudent and frugal,
and the whole surplus. after payment Of expense
and interest, iS devoted 70 construction purpo-
ses.
TX. The interest liabilities Of the company
are even now less than third the net eArnjngs
upon the road pledged.
X. Both Principal and IAteress are payable "a
God, under special provisions Of both National
and State enactment
The bonds are 10 sums Of 5000 each, with
semiannual gold coupons attached, and arc o..
fered for sale a. IS per cent Of their par value
and accrued interest from Jan. 7, AIDED, In cur
| rency.
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