The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-05-16
Central Pacific Railroad First
Mortgage Bonds.

MOrtgag Bonds.
1t is commonly known that the General Gov.
ernm0nt for wise purposes, has given its aid
and encouragement 20 the construction OF one
MAIN THROUGH LINZ OF RAILROAD from the Pa
cife Ocean across the Territories 10 connect
with the various Eastern Branshes OF the Pa
citc Railroad system, and which viii form the
GRAND TRUNK ROUTE 70 the Far West
upon which the mighty trAns-cOntinental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
C0MPANY-who are carrying IL forward with
greater energy and persistence than was ever
shown In any siPyilar work in ancient OF modern
tihes-will 6uiiu, 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 ~ possessing
the richest franchise ever granted on this cont.
nent-
The Act of Congress confers upon the Corpo.
rations besides the right OF way across the Ter.
ritories gift Of ~ $40 acres OF the public lands
per mile, contiguous to this line, and en- appro.
pTlatlOn from the NallOual CToull OF NIL
LIONS in 6 PER CENT RoSDs, delivered as the
work progresses; OF half tho estimated cost III
the Through Line and Branches These Sub
sidy. bonds the company may cancel IN csnrse
of years by the Transportation services Of the
Roads and small per centage Of their net earn
ings: they, therefore, constitute an element OF
great strength 10 the corporations.
The Act further authorizes them TO issue an
81 ek,.t~
Bonds of corresponding denominations, ichich
shall BE- the Tst claim upon The lOhOte railroad prop,
erty, and 10 pkieh The tien Of the Government shGa
Be subordinate az a means OF more readily secur.
ing the remaining half of the capital for the con
stTucton; the equipments 80, being provided
out Of the capital stock subscriptions and other
sources.
The great CENTRAL PACIFIC RAILROAD Is there
fore, In an important sense, q SEh' NATIONAL
WORK, aided and commended by the people, the
Legislative power, and the Executive officers,
though its management Is administered ioih al
tho care and orethough Of The most eminent pirate
corporations. Being under the constant super
yini0n of the GOveTnment-who, being the priu'
cfpal 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 sane claims To conf.
dence and market value, except those Of the
Government.
Under these favoring auspices very gratifying
proguoFs has been made in extending the railroad
track from both directions Nearly 1000 miles
of the Main Limo and cOnvergiug 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
I in he att lnat the
Pacific 20 the summit of the Sierra Nevada and
into the Great Salt Lake Basin east Of the Cali
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 20 certainty.
The prominent feature In the progress of the
CENTRAL PACIFIC RAILROAD Ia the remarkably
large and profitable Local Business which Ia de
veioped upon the completed portion, more thar
iustffying the estimates Of It's pTojeCtors-that
tho immense traffic between the ports Of Call
fOrnia and the mining regions Of the int OF
would sustain frst-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 nearly two
millions in gold and this ratio will De doubled
during the coming season, when tho entire
mountain transit Is made by the locomotive
q
and profits Of the completed part are increased;
so that when the overland through traffic shall
be centered upon the CENTRAL ROAD, the gen
eral prosperity of the company will be without
parallel, and its securities appreciated cores
pOndiDgly. The CENTRAL PACIFIC RAILR9Au
COMPANY offer for sale theirFIkST MORTGA GE
THIRTY YEAR SIX PER CENT. GOLD
BONDS, and submit to Investors tae
following, among other obvious oOnsidsra-
TONS and invite the comparison with the merits
and excellencies Of any class Of Corporate se.
Gurities:
7. 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 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 tho means necessary
TO build the road u provided by the y. S. Gov
eminent upon a subordinate lien.
".
have contributed upward Of s3O00OOO 20 tbs
enterprise without lien.
VI. The grant Of land Is destined at an early
day 10 prove Of Ear greater market value thai
the total Of the hrst mortgage bonds ISSUED
upon the road and equipments.
VII. This road lies altogether among the golf
and silverprOducing reEiOnA, and It's revenues
are received in coin.
VIM. The management Of this company hai
been In the highest degree prudent and frugal
and the whole surplus, after payment OF eIpens'
and interest, 10 devoted 70 construction purpo
ses.
TX. Tho interest liabilities Of the COMPANY
are even now less than a third the net earning
upon the road pledged
X. Both Principal and Interest are payabL q
Gold, under special provisions Of both GationA
and State enactment.
The bonds are In sums Of 5000 each, Wit
semi-Snnual gold coupons attached, and arc Of
fered for sale at IS per cent Of their par value
and accrued interest from Jan. !. Adasd. In cur
reDcy.
The back interest n charged at siI per cen,
in currency, though repaid In foil in 1old A
this time tbey yield nearly
NINE PER CENT UPOY THE IYTESi
KEyE
These bonds bid fair % attain the most Sr0u
inent position among the nOnGPsculative il
vestmeuts Of the country. and WIN be aStivsl
deslt In AZ The msney-eeptres IN Europe.
HoaaSTs Of Government securities have an .,
pOrtuDity Of exchanging them for Central p
cine Bonds bearing a equal nate Of inteTes
with the principal wen secured, and Of
REALIZING 4 PROFIT or TEN 10 m