The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-10-02
Central Pacific Railroad First
Mortgage Bonds.

Mortgage Bonds.
1t is commonly known that the General Gov.
ernmont for wise purposes, has given its aid
and encouragement to the construction of one
MAIN THROUGH LINZ OF RAILROAD from the Pa
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 II forward with
| greater energy and persistence than was ever
| shown in any siRlilar work in ancient OF modern
| times-will bniln, equip, own and control the
productive, favored, and valuable portion Of the
whole, and may Justly be regarded rs possessing
the richest franchise ever granted on this cont.
nent.
The Act of Congress conters 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 SIXTY NIL
| LIONS in 8 PER CENT. BONDS, delivered as the
1
| 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 4 small per c0ntage Of their net earn.
| ings; they, therefore, constitute an element Of
great strength 10 the corporations.
The Act further authorizes them TO issue an
equal amount of their own First Mortgage
| Bonds of corresponding denominations, ichich
shall be the first claim upon the ichote railroad prop.
eTty, and 20 phieh 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
struction; tho 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, a SRNI-NAroNAL
WORK, aided and commended by the people the
Legislative power, and the Executive officers,
| though its management is administered 10Th az
the care and J0Teth0ugh Of the most eminent pirate
corporations. Being under the constant super.
vi0iOn of the Government-who, being the prtn'
cipal creditor, accepts subordinate and contin'
gent len-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 to comb
dence and market value, except those Of tho
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 cOnverging 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 Cali.
| fornia line. Having overcome by far the most
difficult and expensive portion Of the whole
with the Eastern lines being effected in 1870
| amount almost 10 certainty.
The prominent feature in the progress of the
| CENTRAL PA IFIC RAILROAD is the remarkably
large and profitable Local Business which il de.
veloped upon the completed portion, moro than
iustffying the estimates OF its pTojectors-that
| the immense traffic between the ports of Cali
| fornia and the mining regions Of the inter or
would sustain n frstclass railroad line, even 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 increasedi
30 that when the overland through traffic shall
| be centered upon the GENITAL ROAD, the gen.
eral prosperity Of the company will be without
parallel, and its securities appreciated cores
| Inc IENIhAL EAllFli INAlLh5Ab
| COMPANY offer for sale theirFIRST MORTGAGE
THIRTY.YEA SIX PER CENT. GOLD
BONDS, and submit TO Investors the
| following, among other obvious cOnsidera-
tons; and invite the comparison with the merits
and exoellencies of any class Of Corporate &C.
curities
l. 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.
III. The local settlement and business Their e.
from is remarkably large and profitable, aud
must constantly increase.
III. The hardest part Of the road is now
built and the remainder will be rapidly carrie
forward over the Salt Lake Plains.
| ". The greatest part OF the means necessary
to build the road is provided by the U. y. Gov.
eminent upon a subordinate lien.
V. The State and chief cities Of California
have contributed upward OF sJ,OO,pD 10 the
enterprise without lien.
VI. The grant Of land Is destined at an early
day 10 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 silver producing regions, and Its revenues
are received in coin.
VIII. The management Of this company has
been in the highest degree prudent and frugal,
land the whole surplus, after payment OF expense
and interest, Is devoted 20 construction purps
ses.
TX. The interest liabilities Of the company
are even now less than third the net earring.
upon the road pledged.
X. Both Principal and Intereh are pdyab1 10
Gold, under special provisions Of both hationa
and State enactment.
The bonds are In sums Of 1900 each, will
semi annual gold coupons attached, and are Of
fered for sale at % per cent. Of their par value
and accrued interest from Jan. l. ADDED, In cur
rency.
The back interest IL charged at six per cen
in currency though repaid In full In gold. A
this time they yield nearly
NINE PER GEM. UPON TIE IEVEsi
NEHT.
These bonds bid fair To attain the mol Pill g.
inent position among the mons 81 s..,J-si
vestments Of the country, and VII Il.t 20
dealt in At the 1nsney-oeDtres N EuISP ~. n. on
Holders of Government , sSeai1S ar Central r
portunity Of exchanging tnsI -s,e ~ interest
ri6c Ponds bearing an equal r4
viii With t he prineipsI well secured and Of
,,,z,ye PROFIT or TEN TO III
TEEN PER CENT IN ADDITION
Orders sent With the funds through respOns
HE Banks or Express Companies Will receiV
prompt attention. Bonds ssnt by return Z
press 20 any address in the United States,
our coat InfoFU alton, Descriptive pamphlet
Naps &c, furnished on application a. the Off