The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-04-29

I
liable and profitable form Of permanent invest
ment is called to the advantages and assurances
OF the
Central Pacific Railroad First
Mortgage Bonds.
1t is commonly known that the General Gov
| ernmout, for wise purposes, has given tts al,
ami encouragement 20 the construction OF on,
MAIN rIRoUGH LINE or RAILROAD from the Pa
cihc Ocean acruSs the Territories - connec
with the various Eastern branshes OF the Pa
\ cifc Railroad system, and which will form tbs
GRAND TRUNK ROUTE to the Far West
upon which the mighty trans'continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
| COMPANY-who are carrying 1t forward with
! greater energy and persistence than was ever
| shown In any SIMILAR work in ancient or modern
| times-Will bui.a, 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 a. possessing
the richest franchise ever granted on this conti'
nent.
The Act of Congress confers upon the Corpo
rations, besides the right Of way across the Ter
ritories gift of L. 500 acres OF the public lands
per mile contiguous 10 this line, and Gn apprO
priatiOn from the National credit Of Sixty NIL
LIONS in q TER CENT. BONDS, delivered N tht
half ms faI nI
the Through Line and Branches. These Sub
sdy bonds the company may cancel in csurst
of years by the Transportation services of the
Roads, and q small per centage Of their net earn
ings; they therefore, constitute an element al
great strength 10 the corporations.
The Act further authorizes them 10 Issue an
equal amount Of their own First Mortgage
Bonds of corresponding denominations Ehich
shall be the first claim upon he TAos railroad prop
erty and 10 trhich The lien ~ The Government shall
b. subordinate as n means OF more readily secur'
ing the remaining half Of the capital for the con.
stTuCtiOn; 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, n SEMT-NATtONAL
WORK, aided and commended by the people. the
Legislative power, and the Executive officers,
though It's nlAuNIeutQL Is uuUtNHtStFTfN htsA uta
the care and IorethOugh ~ the most cRinenf pirate
corporations. Being under the constant super
yiGon of the GOveTnment--whO, being the pT1n'
cipal creditor, accepts a subordinate and oontin'
gent lien-with 30 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 Ia 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 1900 miles
of the Main Line and cOnvCrging Branches be.
tween the Missouri River and the base oi the
Rocky Mountains have been built within three
wears The CENTRAL Pacific RAILROAD has
also steadily and successfully carried the Main
Stem Line from the steamboat navigation Of the
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 lS70
amount almost TO certainty.
The prominent feature in the progress Of the
CENTRAL Pacific RAILROAD IA the remarkably
large and profitable Local Business which II de
velOpcd upon the completed portion, more than
justifying the estimates of its pTojectOrs-that
the immense traffic between the ports of Cali
fornia and the mining regions of the int or
would sustain n hrst-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 DC doubled
during the coming season, when the entire
mountain transit Is made by the locomotive.
With every extension Of the track, the business
and profits of the completed part are increased;
30 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 its securities appreciated cores
pondingly. The CENTRAL PACIFIC RAlLReAD
CoNPANY offer for sale theirFIRST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
BONDS, and submit 20 Investors TIE
following among other obvious coDsidera-
tons; and invite the comparison with the merits
and eIcellenciSs OF any class OF Corporate sc.
Surities:
l. These Bends are based upon the most vital
and valuable part of the Grand National Pacific
Railroad soon 10 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 ct the road is nov
built, and the remainder will be rapidly carried
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
to bald the road Is provided by the U. $. Cow
ernmen: upon a subordinate lien.
" The State and chief cities Of California
have contributed upward 81 s1nDbD to the
enterprise without lien.
vi. The grant of land is destined at an early
day Ia prove Of far greater market value than
the tJtal Of the first mortgage bonds Issued
upon the road and equipments.
VII. This road lies altogether among the gold
and silver-producing regiOnA and itA revenues
are received ia coin.
VIII. The management Of this company has
been in the highest degree prudent and frugal
and the whole surplus, after payment OF exPenss
and iuBrest in devoted 20 construction purpo
ses
TX. The interest liabilities Of the company
are even now leys than third the net earning,
upon the rad pledged.
X. Both Principal and IHtercE; are p0yaJ< q
God, under special provisions Of both SaiiOnA
and State enactment.
The bonds are in sums Of 5000 each, viii
semi-annuAl gold coupons attached, and are OF
fered for sale AZ % per cent. Of their par vaIne
and accrued interest from Jan. l. aided, IN cur
rency
| The back interest il charged at six per cent
| In currency. though repaid IN foil 10 god. 4
this time they yield nearly