The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-03-16
Central Pacific Railroad First
Mortgage BOnds.

II b COMMONLY known that the General Gov.
eFnmSnt, for wise purposes, has given its aid
and encouragement to the construction of one
MAIN THROUGH LINE OF RAILROAD from the Pa
cifc Ocean across the Territories % connect
with the various Eastern branches OF the Pa
cific Railroad system, and which viii form the
GRAND TRUNK ROUTE 70 the Far West,
upon which the mighty transcontinental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
COAIPANY-wh0 are carrying Il forward with
creator energy and persistence than was ever
shown in any similar work in ancient or modern
times-will build, 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 ~ 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 sn appro
priation from the National credit fSlXTY NIL
LIONS in 6 FER CENT BONDS, delivered as The
work progresses; or half the 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 small per centage of their net earn.
lngS; tney, IlcTeIOTo, Oichteht VI
great strength 10 the corporations.
The Act further authorizes them to issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, IcAtch
shall be he first claim upon ts lrhoIe euilrodd prop.
erty and 10 ichieh The lien u ne Government SHAH
be subordinate, as means OF more readily secur-
ing the remaining half Of the capital for the con.
structiOn; the equipments, &c, being provided
ont ~ Aha canital afOck subScriptiOns and other
sources.
The great CENTRAL PACIFIC RAuRoAD Is there.
fore in an important sense, SEMI'NA1ioNAL
WORK, aided and commended by the people, tho
Legislative power, and the Executive officers.
though its management Is administered nth al
me care and JOTetk0ght Of tie most eminent private
corporations. Being under the constant super
yiBion Of the GoyeTnment-whO, being the pr1n'
cipal creditor, accepts subordinate and contin'
gent lien-with 40 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 10 conn
denoe 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 1000 miles
Of the Main Line and oonverging 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 Call
foTnia 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 1870
amount almost 20 certainty. ..
The prominent feature in tho progress Of the
CENTRAL PACIFIC RAILROAD is the remarkably
large and profitable Local Business which is do.
VelOped upon the completed portion more than
justifying the estimates Of its PROFESSIONALISM
the Immense traffic between the ports OF Cali
fOrniA and the mining regions Of tho int'' or
would sustain hrst-class 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 win be doubled
during the coming season, when the entire
mountaiR transit Is made by the locomotive.
With every extension Of the track, the business
and profits Of the completed part are Increased;
30 that when the overland through traffic shall
be conferred upon the CENTRAL ROAD, the gen.
eral prosperity Of the company will DO without
parallel, and its securities appreciated CORES
pOndingly. The CENTRAL PACIFIC RAILR0AD
CoMPASY offer for sale theirFIhST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
BONDS, and submit to Investors tae
following, among other obvious eOnsidera-
tons; and invite the comparison with the merits
and eTcellencies of any class OF Corporate So
curitics;
]. These Bonds are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad, soon to become the main channel OF
communication on the continent.
H. The local settlement and business there
from Is remarkably large and profitable, and
must constantly increasS. .-,.
III. The hardest part Of the road Is now
built, and the remainder will be rapidly carried
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
TO build the road is provided by the U. 8. Gov
eminent upon a subordinate Hen.
v. The State and chief cities Of California
have contributed upward Of SJ,0Oo,OO 70 thu
enterprise without lien.
vi. The giant Of land is iestfoed at an early
! day TO prove Of far greater market value thar
| the total Of the first mortgage bonds issued
upon the road and equipments.
VII. This road lies altogether among the gold
and silverproducing regions, and its revenues
are received In coin.
VIII Tho management Of this company ha,
been In the highest degree prudent and frugal
and the whole surplus. after payment OF expous'
and interest, Il devoted 70 construction purPo
ses.
\ TX, The interest liabilities Of tho COMPANY
/ arc even now less than . third the net earning
upon the road pledged. e
X. Both Principal and Tnterest are payabES 4
God, under special provisions Of both Hationa
and State enactment.
l The bonds are In sums Of 5000 each, viii
semi-annual gold coupons attached and are o.
and accrued interest from Jan. ], aided, In cur
rency-
The hack isternst Il charged At si1 PER cent
lin currency. though repaid in fall in SOId. A
this time they yield nearly
NINE PER CENT UPoS TEE LSYEsl
MEEE
These bOndsbid fair to attain The most PFou
inent position among the nonspeealatfye i
y vestments Of the country, and win Be asttyel
dealt IN at the mSney-eentres In Europe.
Holders Of Government securities have an O
Portunity Of exchanging them for Central z
eihc Bonds bearing an equal rate Of interes
with the principal ven secured, and Of
REALIZING A PROFIT OF TEy TO III