The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-08-14

with the various Eastern Branshes of the Pa.
cifc Railroad system, and which viii form the
TRUNK ROUTE 70 the Far West,
upon which the mighty trans'continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
are carrying IL forward with
greater energy and persistence than was ever
shown In any sip,ilar work in ancient or modern
times-wili bui.n, equip, own and control the
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.
gift of IL $40 acres OF the public lands
priation from the National credit Of sixty MIL
LIONS in PER CENT. BONDS, delivered rs the
work progresses; or half the estimated cost OF
the Through Line and Branches. These Sub
sidy bonds the company may cancel in q course
of years by the Transportation services of the
Roads, and a small per centage 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, tphich
shall BE- The first claim upon he iChOle railroad prop
erty, aud % Iohieh the lien Of The Government shall
be subordinate, as q means OF more readily secur.
ing the remaining half Of the capital for the con
structiOn; the equipments, &C. being provided
out of the capital stock subscriptions aud other
sources.
The great CENTRAL Pacific RAILROAD Il there
fore in an important sense, n SEMI NATIONAL
Work, aided and commended by the people, the
Legislative power, and the Executive officers,
though its management Ia administered 18th all
corporations. Being under the constant super
viOlOn Of the GOvernment-who, being the prin.
cipal creditor, accepts subordinate and contin.
gent ien-with 80 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 conf
dence and market value, except those Of the
Government.
Under these favoring auspices very gratifying
progress has been made in ex 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 steadlIy 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.
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 isTU
amOunt almost to certainty.
The prominent feature In the progress Of the
CENTRAL PA IF1C RAILROAD IL the remarkably
large and profitable Local Business which In do.
velOped upon the completed portion more than
iustifying the estimates OF its pIojectors-that
the immense traffic between the ports Of Cali.
fornia and the mining regions Of the intr' or
would sustain 6rst-class railroad line, sven II
the overland connections were not built The
net profit upon operating the link Of less than
one hundred miles, thus far reaches nearly tive
millions In goldi and this ratio will he 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 increased
so that when the overland through traffic shall
be centered upon the CENTRAL ROAD, the gen
cral prosperity of tho company will be without
parallel, and its securities appreciated CORES
pondingly. The CENTRAL PACIFIC RATIR9AI
CoMPASY offer for sale their FIRST MORTG AGF
THIRTY-YEAR SIX PER CENT. COLL
BONDS, and submit TO Investors ta'
following, among other obvious cOnsidera
tons: and invite the comparison with the merit,
and eKceencies Of any class OF Corporate Sc
oufltleS'
!. These Bonds are based upon the most vita
and valuable part Of the Grand National Parib'
Railroad soon 20 become the main channel o
communication on the continent
III. The local settlement and business thcr .
from Is remarkably largo and profitable, All
must constantly increase.
Ill The hardest part Of the road Is nov
built and the remainder will be rapidly carrie
forward over the Salt Lake Plains.
" The greatest part Of the means noceasar.
10 build the road il provided by the U. ,. GON
eminent upon n snbOr dibate Hen.
V. The State and chief cities Of CalforDi
have contributed upward Of tj,OO0,OO to th
enterprise without lien.
VI. The grant Of land Is destined at an earl!
day 10 prove Of far greater market value thar
the total of the frst mortgage bonds ihsue
upon the road and equipments.
VII. This road lies altogether among tho gol'
and silver. producing regions, and its revenue
are received in coin.
VIII. The management Of this company hs
been In the highest degree prudent and fruga
and the whole surplus. after payment OF eIpen'
and interest, IL devoted 10 construction purp
ses.
TX. The interest liabilities Of the eOmpan
are even now less than . third the net earning
upon the road pledged
Y. Both Principal and Tnter.N arc pdyabk
God. under special provisions Of both Nation
and State enactment.
The bonds are In sums Of 1900 each. vii
semi-annual gold coupons attached, and are Q
fered for sale at % per cent. Of their par valn
and accrued interest from Jan. /, ADDED IN ca
rency.
The hack interest Ia charged at ak per Ger
IN e,fyyeneI though repaid In full IN god. \
this time they yield nearly
NINE PER CENT UPON THE ISvES
XRgT.
These bonds BID fair TO attain the most pro
inent position among the Bonsyeculative
vestments OF the country, and win be ssGy'
dealt in AZ the msney-eeptres In Europe.
| Holdsrs Of Government securities have an {
portunity Of exchanging them for Central
cihc Bonds bearing an equal rate Of intere
with the principal well secured, and Of
RgALIzIyG A PROFIT or TEN TO ~
TEEN PER CENT ~ ADDITION.
orders sent with the funds througn rsspon
bic Banks or Express Companies VII reoe,
nro,npt attention. Bonds ssnt BY return j
n-eaS 20 sny address in the United states,
aaT cost Information, Descriptive panphle
| Naps. se .. furBlsbed On application st The on
Of he RAiiroad Company. No. - Will
street, and Of
FISK & HATCH,