The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-05-15

Central Pacific Railroad First
Mortgage Bonds.
e.
It Is commonly known that the General Gov.
eminent for wise purposes, has given its aid
and encouragement 10 the construction of one
MAIN THROUGH LINE or RAILROAD from the Pa
cific Ocean across the Territories 10 connect
with the various Eastern branshes OF the Pa
citic Railroad system, and which will form the
GRAND TRUNK ROUTE 10 the Far West
upon which the mighty trans continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
C0MPANY-who are carrying R forward with
greater energy and persistence than was ever
shown In any siP,ilar work in ancient or modern
times-will butts, 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 Cong conters upon the CorPo-
ratiOns, besides the right Of way across the Ter
ritories gift of - 800 acres OF the public lands
per mile, contiguous TO this line, and tn appro,
priation from the National credit OF SIKH MIL
LIONS in PER CENT. BONDS, delivered as the
work progresses; OF half the estimated cost OF
the Through Line and Branches. These Sub
sidy bonds the company may cancel In a course
of wears by the Transportation services of the
Roads, and small per centage Of their net earn
ings; they, therefore, consulate an element Oi
great strength 10 the corporations.
The Act further authorizes them to issue an
equal amount Of their own First Mortgage
Bonds Of corresponding denominations, tn'ich
shall be The first claim upon ls tphOls rdlrudd prop
erty aud % iohich The lien u The Government shGA
be subordinate, as o means Of more readily secur
ing the remaining half OF the capital for the con
stTuction; the equipments, 60, being provided
out of the capital stock subscriptions aud other
sources.
The great CENTRAL PACIFIC RAILROAD Is there
fore, In On important sense, SIM NATIONAL
Work, aided and commended by the people, the
Legislative power, and the Executive officers
though its management Is administered nth al
he care and Joreougt Of he most eminent prirdt'
corporations. Being under the constant super
yiniOn Of the COMMANDMENTS, being the prin
oipal creditor, accepts subordinate and oOntin
gent lien-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 70 conf
dence and market value, except those Of the
Government.
Under these favoring auspices very gratifying
progress las been made in extending the railroad
track from both directions. Nearly 1000 miles
of the Main Line and cenverging Branches be
tween the Missouri River end the base Of the
Mountains hgan huilf within thTpt
years Tho CENTRAL Pacific RAILROAD hW
also steadily and successfully carried the MaiI
Stem Line from the steamboat navigation Of tbs
Pacific to the summit of the Sierra Nevada, an,
into the Great Salt Lake Basin east Of the Cali
fornia line. Having overcome by far the mos
difficult and expensive portion of the who'll
line, the probabilities Of the through connection
with the Eastern lines being effected In is7
amount almost TO certainty.
The prominent feature in the progress Of In
| CENTRAL Pacific RAILROAD Is the remarkably
| large and profitable Local Business which IL de
velOped upon the completed portion, moro thai
| iustifyinR the estimates of its pIoieCtOrs-tha
| the immense traffic between the ports Of Cali
fornia and the mining regions of the int o
would sustain tirst.class railroad line, even
| the overland connections were not built Tn
net profit upon operating the link Of less thai
one hundred miles, thus far. reaches nearly twI
millions in gold; and this ratio will be doubles
during the coming season, when the entif'
mountain transit Is made by the locomotive
with every extension Ofthe track, the business
and profits of the completed part are increased
so that when the overland through traffic shal
be conferred upon the CENTRAL ROAD, the gen
eral prosperity Of the company VIII be withou
parallel and its securities appreciated cores
pOndingly. The CENTRAL PACIFIC RAILReAI
| CoMPASY OTTER for sale theirFIhST MORTG AGI
| THIRTY. YEAR SIX PER CENT. COLI
BONDS and submit 10 Investors ~
following among other obvious cOBSidera
tons; and invite the comparison with the merit
and excellenCies Of any class OF Corporate 81
Gurities
I. These Bonds are based upon the most vita
and valuable part Of the Grand National Pacib
Railroad. soon 10 become the main channel o
communication on the continent
II. The local settlement aud business there
from ia remarkably large and profitable an
must constantly increase.
III. The hardest part Of the road IL no,
built, aud the remainder will be rapidly carrie
forward over the Salt Lake Plains.
! ". The greatest part Of the means necessar
| TO build the road u provided by the U. s. Gov
eminent upon a subordinate lien.
| V. The State and chief cities of CaliforRi
have contributed upward Of s],0O0,OOO 10 Oh
enterprise without lien.
VI. The giant Of land is destined at an earl
day 10 prove Of far greater market value cha
| the total OF the FIRST mortgage bonds issue
upon the road and equipments.
VII. This road lea altogether among the gol
and silyer1groducing regions, and Its revenue
are received in coin.
VIII. The management Of this company Ia
been in the highest degree prudent and fruga
and the whole surplnA, after payment OF eKpen'
and interest, 10 devoted 10 construction pnrp
ses.
TX. The interest liabilities Of the eoupan
are even nov less than a third the net earning
upon the road pledged.
X. Both Frineipal and Int,Ted are pdyaJI>
Gold, under special provisions Of both Nation
and stats Snactment.
The bonds are in sums Of 1900 each, vii
semi-aunual gold coupons attached, and are o
Iered IOf sale n 70 per cent VI tn1I psi N@au
and accrued interest from Jan. !. added, In Gu
rency.
The back interest II charged at six per cen
in currency, though repaid In full IN gold. A
this time they yield nearly
NINE PER CENT UPOY The LSVBS
MEST
These bonds bid fair TO attain the most pro-
inent position among the D0n-sPeeul&tiVe
. Vestments Of the country, and viii be astive
dealt In NJ the msney oeBtres Ia Europe.
| Holders Of Government securities have an
portunity Of exchanging them for Central !
! eihc Bonds bearing an equal rate Of intere
with the principal vel secured, and Of
REALIZING 4 PROFIT or TEN TO p