The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-11-03
Central Pacific Railroad First
Mortgage Bonds.

II Is commonly known that the General Gov.
ernmsnt, Tor wise purposes, has given its aid
and encouragement To the construction OF QUE
MAIN THROUGH LINE or RAILROAD frUm the Pa
ctnc ucean across the Territories 10 connect
With the various Eastern bianshrs OF tie Pa
I clnc Ri rOad system, aud which will firm the
GRAND TRUNK ROU rE 20 the Far West
| upon which the mighty trAnscontinentAl trafto
Will concentrate.
The CENTRAL PACIFIC RAILROAD
COhPANY-who are carry ing IL foI ward with
| srester energy and persistence than was ever
shown IL any sir'ilar woIk la ancient OF modern
times-wtll oui'l, equip, own and cOutrsl the
Western Half Of this Through Line the moss
productive, favored, aud valuable portion Of tie
whole, ami may Justly be regarded a. possessing
the richest franchise ever granted on this cont.
nent
The Act of Con gress confers upon the Corpo-
ralions, besides the right uf way across the Ter.
riorics gift of ~ SOO acres OF the public lands
per milv, contiguous 10 this line, and appro-
priation from the National credit OF SIxII NIL
LIONS in FKR eKST: EosUs, delivered - the
work progresses; or half tho estimated cost u
the Through Line and BrAnohes. These Sub
sidy bonds the company may cancel In . course
Of years by the Transportation services Of the
Roads and ANAL per csntagc Of their net earn.
lngs, they, tncreIOrc, COuhllthtc An clollolt ~
great strength 70 the corporations.
The Act further authorizes them TO issue N
| eQual amount Of their own First Mortgage
| Bonds Of corresponding denominations, ssAieA
shah BE- the first eaiUs upon he Irhos railroad prop
erty and % 1hich The liSn Qr Tia Government shaG
Be subordinate, As means OF morv readily socur'
ing the remaining half Of the capital for the coz
structiOn; the equipments, &c, being provided
out Of the capital stock subscriptions and other
sources.
The great CENTRAL PAcrPIs RAILROAD Ia there
fore, in an important sense, q hl'NAIioNAb
WORK aided and commended by the people. The
Legislative power and the Executive Ofioers
though its management IL administered vth al
the and JoTethOtght Of he most sBs'ne't private
corporations. Being under the constant sups<
viniUn of the GoveTnment-who, being the prtn'
cipal creditor, accepts a subordinate and contin-
gent lien-with 80 large an amount of addition
al capital also invested In the property pledged,
u Is believed that no securities now offered IN
the market possess the san claims 20 comb
dcnce aud market yGlue, except those OF the
Government.
Under these favoring auspices very gratifying
progress has been made In extending the railroad
| track frum both directions Nearly 1000 mica
! of the Main Line and convergug Branches DO
| tween the Missouri River and the base Of the
| Rocky Mountains have been built within three
years. Tho CENTRAL PACIFIC RAILROAD has
! also steadiiy and successfully carried the Main
| stem Line from the steamboat navigation OF the
| Pacific 10 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 tho Eastern lines being elected In 1917
| amount almost 10 certainty.
The prominent feature In the progress Of the
| CRNTRAL PA IP1c RAILROAD IL the remarkably
| large and profitable Local Business which Ia do
yeloped upon the completed portion, moro than
| justifying tue estimates Of its ptojectors--that
the immense trafio betw' en- the ports Of Cali
fornia and the mining regions Of the int, %
| would sustain q hrst-class railroad line, even II
| the overland connections were not built. Tho
| net profit upon operating the link Of less than
| one hundred miles, thus Tar. Teashss nearly two
IN lliUDs In gold; and this ratio will be doubled
turing the coming season, when the entire
mountaiH transit IL made by tbs locomotive.
| With every extension 81 the track. the busiBe %
and profits Of tho completed pNrt are iDcrcas. d
| 30 that when the overland through traffic phah
/ be conferred upon the CENTRAL Roar. the gss.
| eral prosperity Of the company viii bo without
parallel, and its securities appreciated eOrtes-
! pondingly. The CENTRAL PACIFIC RAiiASAD
! CONPANI offer for sale thcirFlhSI MORTGAGE
! THIRTY.YEAR SIX PR CENT god
BONDS, and submit 10 Investors TIE
| following, among other obvious conaiders-
tons, and invite the comparison with the inertia
and eIcellenoies Of any class Of Corporate Sc
Gurities;
and valuable part Of tho Grand National Pacific
Railroad. soon 10 become the main channel OF
communication on the continent
! III. The local settlement and busines. there
/ from Ia remarkably large and profitable, and
must constantly increass.
III. The harde-, part Of the road IL now
buil, aud the remainder will ,- rapidly carried
forward over the salt Lake PlAinA
". The greatest part ~ tho means necessary
tn build the road IL PROVIDED by the Z. .. Gov.
ernment upon a subordinate lien.
V. Tho State and chief cities Of California
have contributed upward Of sJ,OOO,OO 70 the
enterprise without lien.
VI. The grant Of land {. desiised at an early
day 20 prove of far crater market value than
/ the total Of the hrrt mortgage bonds iAsusd
upon the road and equipments.
VII. This road lies altogether among ths gold
and silver producing regions, and lie revenues
are received 10 CON.
VIII. The management Of this ooIpany has
been In the highest drETee prudent and frugal
and the whole surplus after payment Of sIpvnss
and interest IL devoted 70 construction Durps-
ses.
TX. The interest liabilities Of the company
arc even nov lea than third the net e4rIins,
upVn the road pledged
K. Both PrinapaI and Inisysa ays payabk v
Gold under special prOvisiOns Of both SstienA
and STATE enactment.
The bonds are In sums Of 1900 each, with
semi annual gold coupons attached, and are o.
fsred for sale At IS per cent Of their par Tsne'
and accrued interest from Jan. /. ADDED N eH
i rsney.
The hack interest Il charged st siI per esnt
, In e,Ir,enev though repaid In fall In soA a
J. this time they yield nearly
: yryg PER oESI. UPos TIE TVEs7
YgST
Thee bonds BID fair 70 attain the most prom
lrsut position among the nOnsI~culattys In
ye.trpeuts 81 the country, and VII b s~tvslJ
dealt in Al the msnsy -oeBtres In Europe.
Holdsrs Of Government securities have an oD
pOrtuuity Of exchanging them for Central p
cihr Bonds bearing an equal rate Of Interest
With the principal well secured, and d
. REALIZING 4 PROFIT or Ten TO YIy