The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-02-12

liable anu pTOnt2Oie ioIm Va
ment, is called to the advantages aud assurances
Of the
Central Pacific Railroad First
Mortgage Bonds.
II is commonly known that the General Coy;
ernmOnt, for wise purposes, has given IT'S alu
and encouragement oIhe construction o! one
MAIN THROUGH LINE oF RAILROAD from the "a
ciRc Ocean across the Territories 10 connect
with the various Eastern Branehes OF the IA
citic Railroad system, and which WIZ form inc
GRAND TRUNK ROUTE 10 the Far " est,
upon which the mighty trans'contlnentai 'Faino
will concentrate.
Tho CENTRAL PACIFIC RAILROAD
COMPANY-whO are carrying IL forward Win
greater 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 "a 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 q gift of IL 500 Ot the public lands
per mile, contiguous TO this line, and s-n appro'
priation from the National credit OF SIXTY NIL
LIONS in 6 FER CENT HONDs, delivered n 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 wears by the Transportation services of the
Roads, and a small per centage of their net carr
iugs: they therefore, constitute an element OF
great strength TO the corporations.
The Act further authorizes them to issue an
equal amount of their own Fist Mortgage
Bonds OF corresponding denominations, Thieh
shall be the HrSt claim upon the JrhOts TdTodd prep
er,y ant 10 trhch tie lien Of The Government FhdH
be suLordinGts az a 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 and other
sources.
The great CENTRAL Pacific RAILROAD is 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 Is administered U'th dI
the care aud tOrethOugh NJ the most eminent pirate
rOrpOrdtiOHs Being under the constant super
vision of the Goycrnmcnt-who. being the prin-
Cipal creditor accepts subordinate ana Cnntlh'
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 sans claims To conn
drnce and market value, except those OF the
Government.
Under these iavOring auspices very gratifying
progress has been made in extending the RAILROAD
track from both directions. Nearly 1909 miles
of the Main Line and convergiug branches he.
tween the Missouri River and the base OF the
Rocky Mountains have been built within three
wears 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, ana
into the Great salt Lake Basin east 81 the Can.
fOrnia line. Having overcome by far the most
difficult and expensive portion of the whole
line, the probabilities of the through connection
with tho Eastern lines being effected IN $50
amount almost 10 certainty.
The prominent feature in the progress Of the
CENTRAL Pacific RAILROAD is the remarkably
large and profitable Local Business which il de.
velnped upon the completed portion, more than
iustifying the estimates of its pIGjcCtOrs-that
the immense traffic between the ports Of Cali
fornia and the mining regions of the int'I or
would sustain irst-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 ncarl two
millions in gold; and this ratio will lie 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 arc increased;
40 that when the overland through traffic shall
be conferred upOn the CENTRAL ROAD, the gen.
eral prosperity of the company will be without
parallel, and its securities appreciated cores
pOndingly. The CENTRAL Pacific RAILROAD
COMPANY offer for sale thGirFlkST MORTGAGE
THIRTY-YEAR SIX PER CENT. GOLD
BON DIS, and submit to Investors tho
following, among other obvious coEsidera-
tons and invite the comparison with the merits
and excellenc,s Of any class OF Corporate ~.
Curites:
l. These Bends are based upon the most vital
and valuable part of the Grand National Pacific
Railroad soon 10 become the main channel Of
communication on the continent.
II. The local settlement and business there.
from il remarkably large and profitable, and
must constantly increase.
III. The hardest part OF the road is now
built, and the remainder will be rapidly carried
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road II provided by the L. :. GOV
eminent upon subordinate lien.
V. TIE State and chief cities of California
have contributed upward Of s3ooO.Vn TO the
enterprise without lien.
VI. The giant of land is destiaed at an early
day TO prove of far greater Snarket value thau
the total Of the first mortgage bonds issued
upon the road and equipments.
VII. This road lies altogether among the gold
and silver.produCing regions. and its revenues
are received ia coin
VIII The management Of this company has
been in the highest degree prudent and frugal
aud the whole surplus, after payment OF expense
and interest, Is devoted 10 construction purpO
ses.
TX. The interest liabilities Of the company
are even nov less than third the net earnings
upon the road pledged.
Y. Both Principal and Tntsrest ar, payaJk ia