The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-10-31
Central Pacific Railroad First
MOrfg age Bonds.

II is commonly known that the General Gov.
eminent, for wise purposes, has given Its aid
and encouragement TO the construction Of one
NAM THROUGH LINZ or RAILROAD from the Pa
cine Ocsan across the Territories 90 connect
with the various Eastern Branshes OF the Pa
chic Railroad system, and which will form the
GRAND TRUNK ROUTE 10 the Far West
upon which the mighty transoontinental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
C0MPANY-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
whole, and may Justly be regarded as possessing
the richest franchise ever granted on this cont
nent,
The Act of Congress oontcrs upon the Corpo-
rations, besides the right Of way across the Ter.
ritories gift Of - 500 acres OF the public lands
per mile, contiguous to this line and An appro-
priation from the National credit Of SIXrr NIL
LIONS in PER GENT. BONDS, delivered as the
work progresses; or half tho 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 a small per csntage of their net earn.
ings they, therefore, consulate an element OF
great strength 10 the corporations.
The Act further authorizes them 10 issus an
equal amount of their own First Mortgage
Bonds of corresponding denominations, oAieh
shall be the first claim upon he tchoLs railroad prop
erty, and % Iehieh the lien Of tie Government shdh
| be subordinate as q means of moro readily secur.
ing the remaining half Of tho capital for the con
| struction; the equipments, 60, being provided
out of the capital stock subscriptions and other
sources.
The great CENTRAL PAcn1e RAILRoAD IL thsro-
fore, in an important sense, n SRMINATiosAL
WORK, aided and commended by the people, The
Legislative power, and the Executive Oflcora,
though its management Is administered is'tS "a
The care and JOTethOtiDh u The most eminent private
corporations. Being under the constant supsf
vihon of the GOvernment-who, being the prif>
cipal creditor, accepts a subordinate and contin
gent lien-with so large an amount OF addition
al capital also invested In tho property pledget,
IL Ii believed that no securities now offered In
| the market po-sess the same claims 20 conn.
dence and market value, except those oil tho
Government
Under these favoring auspices very gratifying
progress has been made In extending tho railroad
| track from both directions. Nearly lOOo miles
| of the Main Line and cOnycrging branches DO
tween the Missouri River and the base OF the
Rocky Mountains have pcn built within three
| years The CENTRAL PACIFIC RAILROAD has
| a., ataa4f,iy ard s~soooSfqlly carried tho Main
Stem Line frUm the steamboat navigation OF tho
Pacific to the summit Of the Sierra Nevada and
into the Great Salt Lake Basin east Of the Call
| fOrnia line. Having overcome BY far the most
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
CRNTRAL PA I1c RAILROAD Ia the remarkably
large and profitable Local BUSINESS which IL de
veloped upon the completed portion, moro thar
| justifying the estimates of its pTojCCtOrs-that
the immense traffic between the ports Of Cali
fornia and the mining rogiOns'of tho inttI Oi
| would sustain hrst-class railroad line, even u
| the overland connections were not built TIT
net profit upon operating tho link Of less thar
one hundred niles thus far reashes nearly two
millions in gold; and this ratio will be doubled
during tho coming season, when the ontirt
mountain transit IL made by the locomotive
With every extension Of the track, the busnes.
! and profits Of the completed part are increased
30 that when the overland through traffic ahaH
be- conferred upon the CENTRAL RoAD. the goR
eral prosperity of the company will be without
parallel, and its securities appreciated cOrres
| pondingly The CENTRAL PACIFIC RAILReAn
| COMPANY offer for sale theirfIhST MORTGAGE
! Thirty. YEAR SIX PR CENT. GOLD
BONDS, and submit 10 Investors the
following, among other obvious considera.
tions; and invite the comparison with the merits
and e1Cellenoiss Of any class OF Corporate 80.
! Guntios:
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 o
| from Is remarkably large and profitable, and
must constantly increase.
III The hardest part Of the road IL now
built and the remainder viii be rapidly carrie
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
| 10 build the road In provided by the v. y. Gov
| eminent upon n subordinate lien.
v. The State and chief cities Of CAlifornil
have contributed upward Of 5000 900 10 the
enterprise without lien.
VI. Tho grant Of land IL destiHsd At an early
day 20 prove Of far greater market value than
the total Of the FIRST mortgage bonds lssusd
upon the road aud equipmenb
VII. This road lea altogether among the gold
and silver producing regions, and its revenues
are received In coin.
VIII. Tho management 81 this company la,
been In the highest degree prudent and frugal
and the whole surplus, after payment Of eIpens,
and interest, IL devoted 70 construction purps
ses.
TX. The interest liabilities Of the COMPANY
are even now le.s than third the net esrhins'
upon the road pledged.
X. Both Principal and Inierest drs payalb "
GtId, under special pre- visions Of both hationA
and STATE enactment.
The bonds are In sums Of 1900 each. viii
semi-annual gold coupons attached, and are %
fered for sale At o. per cent Of their par 1aIne
: and accrued interest from Jan ]. Adasa' IN 0"'
I rency.
The hack interest Il charged a. .iT per cen /
!.s, 80 tsoIrh repaid IN full In god.
. this time they yield nearJ
!. v,yE PER 0EST UPoS THE INVEST
Thess bonds bid fair 70 attain the most prom
lbent position among the nor speculative In
vestrnsuts Of the country, and III b astivsl,
dealt In At the nsDey-eeBtrss IN Europe.
. Holders OF Government sseIritiss have an %
portunity Of exchanging tbsn tDF Csn,Sal p
eihe Bonds bearing an equal rate u Interest
with the principal well secured, and Of
|. REALIZING A PROFIT or TES TO III
: TEEN PER CENT. IN ADDITION
= o,d.r. .Sp, With the funds through resp0ns