The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-08-07
Central Pacific RaiIrond First
Mortgage Bonds.

1t is commonly known that the General Gov
ernmsnt for wise purposes, has given its aid
and encouragement 10 the construction OF one
MAIN THROUGH LINE or RAILROAD from the Pa
cihc Ocean across the Territories to connect
with the various Eastern sranshes Of the Pa
cibc Railroad system, and which will form the
GRAND TRUNK ROUTE TO the Far West
upon which the mighty trans-continental tralRc
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-whO are carrying IL forward with
greater energy and persistence than was ever
shown IN any similar work in ancient or modern
timeS-will bnilu, equip, own and control the
western Half Of this Through Line tho NEST
productive favored, and valuable portion OF the
whole, and may Justly be regarded a possessing
tho richest franchise ever granted on this cont.
nent.
Tho Act Of Congress conCers upon the Corpo
rations, besides the right of way across the Ter
ritOries gift Of L. sO acres OF the public lands
per mile, contiguous 10 this line, and an appro.
priation from the National credit Of sixty NIL
LIONS in PR 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 n course
of years by the Transportation services Of the
Roads, and small per centage Of their net earn
ings; they. therefore, oonstitsto an element Of
great strength 70 the corporations.
The Act further authorizes them TO issue an
equal amount Of their own First Mortgage
Bonds OF corresponding denominations, i0hleh
shall BE- he first claim upon The iohoe railroad prop
eTty and 20 trhieh the lien Of he Government Shdil
be subordinate, as q means % 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 ard other
sources
The great CENTRAL Pacific RAILROAD Is there
fore, In an important sense, n SEM NATIONAL
WORK, aided and commended by the people, the
Legislative power, and the Executive officers,
though its management In admins iered Ioith al
The care aud Jorethouoht Of tks most eniJ<nt prirdto
corporations. Being under the constant super
vision Of the Goyernment-who, being the prin
cipal creditor accepts subordinate and contin
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 10 conf.
dence and market valne, except those of the
Government.
Under these iavoring auspices very gratifying
progress has been made In extending the railroad
track from both directions Nearly 1000 miles
of the Main Line and csnvcrging Branches he
tween the Missouri River and the base of the
Rocky Mountains have been built within thre,
years. The CENTRAL Pacific RAILROAD has
also steadily and successfully carried the Main
Stem Line from the steamboat navigation OF I'll,
Pacific Ia the summit Of the Sierra Nevada, au'
into the Great Salt Lake Basin east of the Cali
| foTnia 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 i-1
| amount almost to certainty.
| The prominent feature in the progress Of TN
CENTRAL PA IFIC RAILROAD IL the rcmarkabl,
| large and profitable Local Business which IL de
velOped upon the completed portion, more than
iustifying the estimates Of it, professionalism
| the immense traffic between the ports OF Call
fOrnia and the mining regions Of the int,' 81
| would sustain first class railroad line, even !
| the overland connections were not built. IL,
net profit upon operating the link Of less thar
4 one hundred miles, thus far reaches nearly I've
millions In gold; and this ratio will be dOmblet
during tho coming season, when the ontr'
| mountalR transit Ia made by the locomotive
With every extension OF the trark, the business
| and profits Of the completed part are increased
| 80 that when the overland through traffic shal
he conferred upon the CENTRAL ROAD the gen
eral prosperity OF the company will be withOu
parallel, and its securities appreciated cOTres
pOndngly. The CENTRAL PACIPIC RAILRSAI
COMPANY offer for sale theirFIhST MORTGA GI
aoNns and snhmit 70 Inyestor. ~,
followipg among other Obvious considsra
tions; and invite the comparison with the merit
| and excelencies Of any class OF Corporate se
eurlties'
/. These Bonds are based upon the most vita
and valuable part Of the Grand National Pacih'
Railroad. soon TO become the main channel o
.t,.s fa9,
ii. The local settlement and business Their q
from In remarkably large and profitable. en-
| III. Tho hardest part Of the road IL nov
built and the remainder will be rapidly carrie
4 ~ The greatsAt mart of the means neosssar,
\ 10 build the road In provided by the U. g. Gov
| eminent upon a subordinate lien.
have contributed upward Of ta.Ooo.eoO to tb
enterprise without len.
the total Of the frat mortgage bonds Issues
| W, H.. .I.u,,,,,,o. .,.,,,,,, a., coll
|
VIZ. Inc mahagsulehI oI th,s ."hpA9 hI
| peSh W Toe IIEhost nogtee PIu"'"t AnH luz
and the ~hoie surplus hhr payment oi ohpoh
AMI interest,", - devoted 10 cohAtuetl0h PuiP'
ses
TX The ,nte,es. liabilities nj the compan
and state enactment.
tered for saIe at % por cent Of their par valu'
and accrued interest from Jan. !, adaed. In cui
~,
a..
The haek interest IL ehaige" AZ ni y, W.
in errTeney though REPAID ih i1h !" '''"
this uoo 'heS S'e"
|