The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-07-21
Central Pacific Railroad First
Mortgage Bonds.

1t is commonly known that the General Gov
ernmsnt, for wise purposes, has given its ald
and encouragement 10 the construction of one
MAIN THROUGH LINE or RAILROAD from the Pa
cito Ocean across the Territories 10 connect
with the various Eastern branches Of the Pa
citc 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-who are carrying IL forward with
greater energy and persistence than was ever
shown In any sip,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 confers upon the Corpo-
rations, besides the right of way across the Ter.
ritories gift Of II 500 acres OF the public lands
per mile, contiguous 70 this line, and IN appro-
priation from the National credit Of sixty MIL.
LIONS in 6 PER CENT. BONDS, delivered rs the
the Through Line and Branches. These Sub
sidy bonds the company may cancel in a course
of years by the Transportation services Of the
Roads, and n small per csntage of their net earn.
ings; they. therefore, constitute AN element OF
great strength 10 the corporations.
The Act further authorizes them TO issue Al
equal amount of their own First Mortgage
Bonds of corresponding denominat tons, tchich
shall Be the first claim upon he chole railroad prop
erty, aud 20 tckieh the hen Of TIE Government SHAH
be subordinate as a means OF moro readily secuT.
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 is there
fore, In an important sense, n SIM NATIONAL
WORK, aided and commended by the people the
Legislative power, and the Executive officers,
though its management In administered UIh al
the care aud JOreth0ugh " The most rIHineAt pirate
corporations. Being under the constant super.
viOion Of the OBSERVATION-DISCLOSURES being the prin.
cipal creditor, accepts subordinate and coniin.
gent lien-with so large an amount Of addition.
al capital also invested In the property pledged.
10 Is believed that no securities now offered in
the market possess the sane claims 10 conh-
dence and market value, except those Of the
Government.
Under these iavOriDg auspices very gratifying
track from both directions Nearly 1000 miles
of tho Main Line and cOnyergipg Branches bo.
tween the Missouri River and the base al 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 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 the Eastern lines being effected in l-1u
amount almost 10 certainty.
The prominent feature in the progress Of tb,
CENTRAL PA TFIC RAILROAD Is the remarkably
large and profitable Local Business which II de
sPf RP sS tss Ss Sai
the immense traffic between the ports Of Cali
fornia and the mining regions Of the int,i OI
would sustain frst-class railroad line even u
the overland connections were not built. tn,
net profit upon operating the link Of less thar
ono hundred miles, thus far, reaches nearly two
millions In gold; and this ratio will DO doubled
during the coming season, when the entire
mountain transit IL 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 CENTRAL ROAD, the gen
eral prosperity Of the company will be without
parallel, and its securities appreciated CORES
pondingly. The CENTRAL PACIFIC RAILReAI
COMPANY offer for sale theirFIRST MORTG AGE
THIRTY.YEAR SIX PER CENT. COLI
BON DS, and submit 10 Investors ta'
following, among other obvious oonSidera
tons; and invite the comparison with the merit
and eIcellencies Of any class OF Corporate se
curities:
!. These Bonds are based upon the most vita
and valuable part of the Grand National Pacific
Railroad soon to become the main channel 0
communication on the continent.
II. The local settlement and business Their Q
from IL remarkably large and profitable, an
must constantly increase.
III. The hardest part Of the road il nov
built and the remainder will DO rapidly carrie
forward ever the Salt Lake Plains.
". The greatest part Of the means nscsssar,
TO build the road Ii provided by the L. =. Gov
eminent upon q subOr diDate lien.
V. The State and chief cities Of California
have contributed upward Of s3,OOO,0N to tn
enterprise without lien.
VI. The grant Of land IL destined at an earl,
the total Of the frst mortgage bonds issue
upon the road and equipments.
VII This road lies altogether among the golc
and silver producing regions, and Its revenue
arc received in coin.
VIII The management Of this company ba
been In the highest degree prudent and fruga
and the whole surplus, after payment OF eIpenr
and interest IL devoted 10 construction purp'
ses.
TX. The interest liabilities Of the compan
are even now less than q third the net earning
upon the road pledged.
| K. Both Principal and IntSr>St ar, pdydIL
Gold, under special provisions Of both Nations
and State enactment.
The bonds are In sums Of 1900 each, vii
semi snnuAl gold coupons attached, and are
| fered for sale at 70 per cent OF their par vain
and accrued interest from Jan. !, added, In GU
rency.
The hack interest IL charged At SIX pef cen
In e,tTTencV. though repaid In fall In gold. A
this time they yield nearly
NINE PER CENT. UPON THE IyYEs
MEgT.
Ib1ss bonds I'D fair 10 attain the most yrUi
iDeDt position among the non-yecuiatiTe
| ye-tuents Of the country, and viii be aStiT1