The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-04-18

with the various Eastern branshes OF the IA
cifc Railroad system, and which win form the
GRAND TRUNK ROUTE TO the Far West,
upon which the mighty traRscontinental traffic
will concentrate.
Tho CENTRALl PACIFIC RAILROAD
CONPANY-who are carrying II forward with
greater energy and persistence than was ever
shown in any siF'ilar work in ancient or modern
times-will bui,r, 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 as 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.
rtores gift Of - 500 acres OF the public lands
per mile, contiguous TO this line, and Gn appro'
pration from the National credit Of sixty NIL
| LIONS in PER CENT. BONDS, delivered as 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 years by the Transportation services Of the
Roads and small per centAge Of their net carr.
ings they, therefore, constitute an clement OF
great strength 10 the corporations.
The Act further authorizes them 20 issue an
equal amount Of their own First Mortgage
Bonds Of corresponding denominations, which
shall be the frst claim upon The inhols railroad prop
erty aud % tciich the lien Of the Government shan
BE- subordinate, rs q means Of more readily secur.
ing the remaining half Of the capital for the con,
stluction; 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 SEMNATIoSAL
WORK. aided and commended by the people, the
| Legislative power, and the Executive otficers
| though its management Is administered nth al
the care aud JOTeth0ug Of the most eminent pirate
corporations. Being under the constant super
vision Of the GOvernment-who, being the prin
cipal creditor, accepts subordinate and contin.
| 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 tho sane claims 20 conh.
dence and market valno, 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 csnverginH 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 fror the steamboat navigation OF the
Pacific 10 the summit of the Sierra Nevada, and
into the Great Salt Lake Basin east Of the Cali.
| farnia 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 to certainty.
The prominent feature In the progress Of tho
| CENTRAL PACIFIC RAILROAD IL the remarkably
large and profitable Local business which Is de-
| yeloped upon the completed portion moro than
| iustifying the estimates of its pIojectors-that
| the Immense traffic between the ports of Cali
| fornia and the mining regions of the int OF
would sustain n 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 be doubled
during the coming season, when tho entire
mountaiR transit Is made by the locomotive
! With every extension Of the track, the business
and profits of the completed part are increased
| so 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 lis securities appreciated cores
pOndingly The CENTRAL PACIFIC RAILROAD
! EoNPASY offer for sale theirFIhST MORTGAGE
! THIRTY.YEAR SIX PER CENT. GOLD
BONDS, and submit to Investors tho
| following among other obvious considera-
lions; and invite the comparison with the merits
and excellencies OF any class Of Corporate &c.
surities:
I. These Bonds arc 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 ever the Salt Lake Plains
". The greatest part of the means necessary
to build the road Is provided by the U. 5. Gov
ernment upon 4 subordinate lien.
V. The State and chief cities Of California
have contributed upward Of S3.OOO,OOO TO the
enterprise without lien.
VI. The grant Of land Is destined at an early
day TO prove Of far greater market value thar
the total Of the first mortgage bonds issued
upon the road and equipments.
VII. This road lies altogether among the golC
and silverproducing regions, and its revenues
are received in coin.
| VIII. The management Of this company hA
been in the highest degree prudent and frugal
| and the whole surplus, after payment 81 e1pens'
and interest. u usFOItu 70 pNAHS
SEA-
TX. The interest liabilities Of the cOmpan!
are even now less than q third the not earning
upon the road pledged.
X. Both Principal and IHtSrea are payable &
Gold, under special provisions Of both Nations
and State enactment.
Tho bonds are In sums Of 5000 each, Wit
semisnnual gold coupons attached, and are Of
fered for sale at IS per cent. Of their par vAluf
and accrued interest from Jan. ]. added, IN eui
rency.
The back interest IL charged at SIX per cent
In currency. though repaid In full in gold.
this time they yield nearly
NINE PER CENT. UPog THE TNTES;
!. NENT.