The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-03-19


with the various Eastern branches Of the Pa
cifc Railroad system, and which will form the
GRAND TRUNK ROUTE 10 the Far West,
upon which the mighty traRscontinental traffic
viii concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-who are carry ing IL forward with
greater energy and persistence than was ever
shown IN any similar work in ancient or modern
times-will build, equiP, ewn and control the
Western Half Of this Through Line. the most
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 oonfers upon the Corpo-
rations, besides the right of way across the Ter.
ritories gift Of ~ 800 acres OF the public lands
per mile, contiguous TO this line, and en- Rppro.
priatiOn from the National credit Of sixty NIL.
LIONS in FER 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 course
Of wears by the Transportation services Of the
Roads, and small per centage of their net earn.
ings; they, therefore, constitute an element OF
great strength 20 the corporations.
The Act further authorizes them 10 issue an
e0ual amount of their own First Mortgage
Bonds Of corresponding denominations, tohieA
shall be The first claim upon The tchOle railroad prop
erty aud % Ichich the lien Of The Government shat
be subordinate Ms 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, a SEMfNATIoNAL
WORK aided and commended by the people, the
Legislative power, and the Executive officers,
though its management Is administered Wah al
the care and forethouga Of ue most e1Hiiseht pirate
corporations Being under the constant super.
vioiOn of the GOvernment-wha. being tho prin-
cipal creditor, accepts subOrdinate and eontin-
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 20 conf
dence and market value, 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 tonveTgiug Branches he.
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 Fine from the steamboat navigation OF the
Pacific TO the summit of the Sierra Nevada, aud
into the Great Salt Lake Basin east Of the Cali.
difficult and expensive portion Of tho whole
line the probabilities Of the through connection
with the Eastern lines being elected in 1910
amount almost to certainty. ..
The prominent feature in the progress Of the
CENTRAL Pacific RAILROAD is the remarkably
large and profitable Local business which IL de.
veloped upon the completed portion, more than
iustifying the estimates Of It's projectors-that
the immense traffic between the ports of Cali
fornia and the mining regions OF the inttI or
would snstain flfst-Class railroad line, even II
the overland connections were not bHilt. The
net profit upon operating the link Of leas than
one hundred miles, thus Tar, reaches nearly two
millions in gold and this ratio will be doubled
during the coming season, when tho entire
mountain transit In made by the locomotive.
With every extension Of the track, the business
and profits Of the completed part are increased;
40 that when the overland through traffic shall
be conferred upon the CENTRAL ROAD, the gen
eral prosperity Of the company win be without
parallel, and its securities appreciated CORES.
pOndingly. The CENTRAL PACIFIC RAILReLD
COMPANY offer for sale theirFTKST MORTGAGE
THIRTY.YBAR SIX PER CENT. GOLD
BONDS, aud submit TO Investors tue
following, among other obvious cOnsidora,
tons; and invite the comparison with the merits
and oIcellenCics Of any class or Corporate So
curities:
l.
and valuable part Of the Grand National Pacific
Railroad, soon 10 become the main channel Of
communication on the continent.
H. The local settlement and business there
from is remarkably largo and profitable, and
must constantly increase.
Ill The hardest paVt Of the road IL now
built, and the remainder will he rapidly carried
forward over the salt Lake Plains,
", TIE greatest part Of the means necessary
to build the road Is provided by the U. s. Gov.
eminent upon q subordinate lien.
V. The State and chief cities Of California
have contributed upward Of SJ.OOOIOo0 20 the
enterprise without lien.
vi. The grant Of land is destiRed at an early
day TO prove Of far greater market valns than
the total Of the first mortgage bonds issued
upon the road and equipments.
VII. This road lies altogether amoHg the gold
and silverprodncing regionA and Is revenues
arc received in coin.
VIII The management oTthis company has
been In the highest degree prudent and frugal
and the whole surplus, aftsr payment Of erpenss
and interest, Is devoted 10 construction pnrpO'
ses.
TX. The interest liabilities Of the company
are even now less than q third the net earnings
upon the road pledged.
Y Both Principal and IaLsTest are DayaJ< IN
God, under special prOvisions Of both National
and State enactment.
The bonds are In sums Of 5000 each. with
semi-annual gold coupons attached, and are Of.
fered for sale at IS per cent Of their par vaine,
and accrued interest frUm Jan. J. sdded In cur.
rency.
The back interest 10 charged at six per cent.
in currency, though repaid In full 10 gOtd At
this time they yield nearly
VINE PER CENT. TPOy THE IYTEET