The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-05-22

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! SET a. gnruI .5nt POSI- go =
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Central Pacific Railroad First
Mortgage Bonds.
It is commonly known that the General Gov.
ernmOnt for wise purposes, has given Us aid
and encouragement TO the construction Ozone
MAIN THROUGH LINE OF RAILROAD trun the Pa.
| Cifo Ocean across the Territories 60 connect
with the various Eastern Bransbes OF the Pa
cihc Railroad system. and which viii form the
GRAND TRUNK ROUTE 10 the Far West,
upon which the mighty trans continental traffic
VIII concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-whO are carrying 10 forward with
greater energy and persistencs than was ever
shown in any siV'ilar work in ancient or modern
times-will buith equip, own and control the
Western Half OF this Through Line, the most
| prod uctive favored, and valuable portion OF the
whole and may Justly be regarded rs possessing
the richest franchise ever granted on this couts
nent- .....F-
The Act Of Congress Conrers upon the corpo.
rations besides the right of way across the Ter.
rtores gift of II, SUI acres OF the public lands
per mile, contiguous To this line, and en- apprO.
priation from the National credit of Sky MIL
LIONS in PER CENT. RoEDs, delivered as the
work progresses; or half tho estimated cost OF
the Through Line and Branches These Sub
sidy bonds the company may cancel IN q eSurse
Of years by the Transportation services Of the
Roads, and small per ceutage Of their net earn.
ings: they therefore, cnnstitato IN element of
great siren 9Th 10 the corporations, .s b
The Act further Authorizes them 10 issue an
equal amount Of their own First Mortgage
Bonds Of corresponding denominations, iohieA
shall be the first claim upon he irhole TdlrOdd prop
eTty and % loAieh the lien Of TIE GOpeTna<IIt shall
BE- subordinate, as a means Of more readily seour-
ing the remaining half Of the capital for the con
struction; the eQuipments &c, being provided
out of the capital stock subscriptions and other
sources .- . .h.' .a
The great CENTRAL PACIFIC RAILROAD Is there.
fore, in an important sense, a SEAI NATIONAL
WORK, aided and commended by the people, the
Legislative power, and the Executive officers,
though its management Is ddpqtnfStcred nah al
The care and JOrethOught Of the most eminent pirate
corporations. Being under the constant super
vinion of the Goysrnment-who being the prin.
Cipal creditor, accepts subordinate and contin-
gent lien-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 san % claims 10 conf.
dence and market valuo, 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 conycrging Branches be
tween the Missouri River and the base Of the
Rocky Mountains have been bHilt 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.
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 1870
amOunt almost to certainty.
The prominent feature In the progress Of the
CENTRAL Pacific RAILROAD is the remarkably
large and profitable Local Business which Ia de.
velOped upon the completed portion, more than
iustifying the estimates of its PROFESSIONALISM
the Immense traffic between the ports Of Cali
fOrnia aud the mining regions Of the intr' OF
would sustain trst-claSs railroad line even II
the overland connections wers not built. The
net profit upon operating the link of less than
one hundred miles, thus fnr, reaches nearly two
millions in gold; 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 oftho completed part are increased,
50 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 cOTe'S
pondingly. The CENTRAL PACIFIC RAiLReAD
CoMPASY offer for sale thelrFIEST MORTGAGE
ID
b ON DS and submit 10 Investors TIE
following among other obvious CODsidera
tons; and invite the comparison With the merits
and cxceencies Of any class OF Corporate &C.
ourities: .
J. 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
II. The local settlement and business there.
from ia remarkably large and profitable, and
must constantly increase.
III. The hardest part of the road is now
built, and the remainder win be rapidly carried
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road Ia provided by the q. 5. Gov,
eminent upon q subordinate lien.
o. 70 .a...
V. The State and chief cities Of California
hase contributed upward Of 100000 70 the
enterprise without lien. ....
Ino y a't VI iauu - 1870. ~ 49, aS
the total OF the frat mortgage bonds issHed
upon the road and equipments.
VII Tbi. road lies aI.oaetber Among the gold
vITr Tbs u,,oosnsr,, oT ,b,. coB,snv Ia,
been in Che bigbest degree prudent and fruEal,
and the Whole sr,rnIrs after r,ayTpSrt of e1t,eI.s
AMI Sats--est "a dsvoted 10 e0s,struction purpo
a. = T.'-0. '... ~.
-. ..r .,.-..-.... ..
. .- ...
TX Tho ihterest liabilities Of the company
upon the roah pledged ....