The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-05-18
CemIraI Pacific Railroad First
Mortgage Bonds.

Central Pacific Railroad First
Mortgage Bonds.
IT'S commonly known that the General Gov,
ernmGut for wise purposes, has given its Aid
and announcement % the construction OF one
MAIN THROUGH LINE or RAILROAD from the Pa
cihc Ocean across the Territories 70 connect
with the various Eastern Branshes OF the Pa
cifc Railroad system, and which viii form the
GRAND TRUNK ROUTE 70 the Far West,
upon which the mighty traRs'contnental traffic
will concentrate.
Tho CENTRAL PACIFIC RAILROAD
COMPANY-who are Carrying II forward with
reater energy and persistence than Was ever
shown in any sP'ilar work in ancieut or modern
times-will bui'I, 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 rs possessing
the richest franchise ever granted on this conii'
nent.
The Act OF Congress confers upon the CorpO-
ratOns, besides the right Of way across the Ter.
ritores. gift Of IL $40 acres OF the public lands
per mile, contiguous 10 this line, aud IN appro'
priatiOu from the National credit OF sixty NIL
LIONS in 8 FER CENT. BoNus, delivered as the
work progresses; or half the estimated cost OF
the Through Line aud Branches. These sub
sidy bonds ths company may cancel IN canrse
Of years by tho Transportation services oi the
Roads and n small per centage OF their net earn
ings; they therefore,, consulate an element OF
great strength 10 the corporations.
Al.
equal amount Of their own First Mortgage
Bonds Of corresponding denominations, lchieh
shall be he RTSt claim upon the tehOle ruilrodd prop
eTty and 10 tohich the hen Of The Government EhGA
BE- subordinate, as q means OF more readily secur'
ing the remaining half of the capital for the con.
stIuctiOn; 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, q SEM1'NATioSAL
WORK, aided and commended by the people, the
Legislative power and the Executive officers,
though its management il administered NTH al
the care and JorsthoUJht Of the most s'nHehf prIvdte
corporations. Being nnder the constant super
vision Of the GOyernment-whO, being the prin'
cipal creditor accepts subordinate and oontin.
gent lien-with so large an amount Of addition
al capital also invested in tho property pledged
il is believed that no securities now offered in
the market possess the sane claims 20 conf
dence 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 1000 miles
of the Main Line and ConvergiDg 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 tho steamboat navigation OF the
Pacific TO the summit Of the Sierra Nevada, and
into the Great Salt Lake Basin east Of the Cali
fornia line. Having overcome by far the mos
difficult and expensive portion Of the whole
line, the probabilities of the through connection
with the Eastern lines being effected In isit
amount almost TO certainty.
The prominent feature in the progress of th'
CENTRAL PACIFIC RAILROAD Il the remarkably
large and profitable Local BUSINESS which IA de
velOped upon the completed portion, more thar
iustfying the estimates Of its pI0jectOrs-thai
the immense traffic between the ports Of Cali
fOrnia and the mining regions OF the int OF
would sustain n first4Class railroad line even u
the overland connections We're not built. The
net profit upon operating the link of less than
one hundred miles, thus far. reaShes nearly tive
millions in gold; and this ratio will be- doubled
during the coming season, when the entire
mountain transit IL made By the locomotive
With every extension Of the track the business
and profits of the completed part are increased
80 that when the overland through traffic shall
be conferred Noon the CENTRAL ROAD the gen
cral prosperity of the company will DO without
parallel, and its securities appreciated CORES
pondingly. The CENTRAL PACIFIC RAILReAE
COMPANY offer for sale theirFIhST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
B ON DIS, and submit to Investors tat
following, among other obvious considers
tions; and invite the comparison with the morris
and eKoellenoies Of any class OF Corporate So
Gurities:
T. These Bonds are based upon the most vital
and valuable part of the Grand National Pacific
Railroad soon TO become tho main channel OF
communication on the continent
II. The local settlement aud business there
from is 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 is provided b. the U. 5. Gov
ernmeut upon q subordinate lien.
V. The State and ohioi cities Of California
have contributed upward Of sJ,OO0,OOJ ~ IN,
enterprise without Hen.
VI. The grant Of land il destined at an earll
day 10 prove Of FAR greater market valne thar
the total Of the first mortgage bonds Issues
upOh the road and equipments.
VII. This road lies altogether among the gol'
and silyer.produCing regions, and its revenues
are received in coin.
VIII. The management Of this company ba
been in the highest degree prudent and frugal
and the whole surplus, after payment Of eIpeDs'
aud interest IL devoted 70 construction purpO
ses.
TX. The interest liabilities Of the cOmpaHI
are even now Iess than third the net earning
upon the rad pledged.
X. Both Principal and IHisrsa are pGyuJk q
Gold, under special provisions Of both Sationa
and state enactment.
The bonds are ia sums Of slOcO each, Wit
semi annual gold coupons attached, and are Of
fered for sale az 9S per cent OF their par value
and accrued interest from Jan. ]. ADDED, in cur
rency.
The back interest IL charged a. six per cen;
in currency, though repaid IN fall In gOh a
this time they yield nearly
NINE PER CENT. Upon THE WTES1
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