The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-09-22
Central Pacific Railroad First
Mortgage Bonds.

II is commonly known that the General Gov.
eminent for wise purposes, has given its aid
and encouragement TO the construction of one
MAIN THROUGH LINE OF RAILROAD from the Pa.
Cific Ocean across the Territories 10 connect
with the various Eastern Branshes Of the Pa.
cifc Railroad system, and which will form the
GRAND TRUNK ROUTE 10 the Far West,
upon which the mighty traRs-continentsl traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
C0MPANY-who are carrying IL forward with
greater energy and persistence than was ever
shown in any SIMILAR work in ancient or modern
tmes-will builn, 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 confers upon the Corpo-
rations, besides the right of way across the Ter.
rtories gift of Il, 500 acres Of the public lands
per mile, contiguous 10 this line, and IN appro-
priation from the National credit OF sixty NIL
LIONS in 6 PER CENT. BONDS, delivered as the
work progresses; or halft 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 q small per centage Of their net earn.
ings they, therefore, consulate an element OF
great strength To the corporations.
The Act further authorizes them TO issue an
equal amount Of their own First Mortgage
Bonds Of corresponding denominations, irhieh
shall be the first claim upon The rhos railroad prop.
erty, and 10 tchicA The lien Of The Government shall
ing the remaining half Of the capital for the
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 SRMINArIoNAL
WORK, aided and commended by the people, the
Legislative power, and the Executive officers,
though it's management Is administered 10Th al
the care and fOrethought Of The most eminent pirate
corporations. Being under the constant super
vi1ion Of the GOvernment-who, being the prin'
cipal creditor accepts n subordinate and contin.
gent lien-with 40 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
progress has been made in extending the railroad
track from both directions Nearly 1000 miles
of the Main Line and convergng Branches be.
tween the Missouri River and the base of the
Rocky Mountains have been built within three
also steanny 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 Cali.
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 effected in 1870
amount almost 10 Certainty.
The prominent feature In the progress Of the
CESTRAL PA IPIC RAILROAD Is the remarkably
large and profitable Local Business which In de-
velOped upon the completed portion, more than
justifying the estimates Of its pTojcctOrs-that
the immense traffic between the ports Of Cali.
fornia and the mining regions Of the int or
would sustain hrstclass railroad line, oven 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 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;
40 that when the overland through traffic shall
be conferred upon the CENTRAL ROAD, the gen.
eral prosperity of tho company will be without
parallel, and its securities appreciated cores
pondingly. The CENTRAL PACIFIC RAILROAD
COMPANY offer for sale theirFIkST MORTGAGE
THIRTY.YEAR SIX PER CENT GOLD
BONDS, and submit 10 Investors TIE
following, among other obvious consdera-
tons: and invite the comparison with the merits
and excellences of any class OF Corporate Sc
surities;
]. 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.
H. The local settlement and business Their e.
from is remarkably large and profitable, and
! must constantly increase.
I'LL The hardest part of tho road Is now
built, and the remainder will be rapidly carrie
| forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
| to build the road il provided By the T. >. Gov
eminent upon a subordinate lien.
v. The State aud chief cities Of California
have contributed upward Of sJOOO,OO 10 the
enterprise without lien.
vi. The grant Of land IL destined at an early
day 10 prove Of far greater market vaine than
the total Of the first mortgage bonds issued
upon the road and equipments.
and silver producing regions. and it, 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 Of eIpsns'
and interest, Is devoted 10 construction purpo
ses.
TX The interest liabilities Of the COMPANY
are even now les than Q third the net earning
upon the road pledged.
Y Both Principal and Int>Test are pdyabt> Il
God. under special provisiOns Of both SAtionA
and State enactment.
The bonds are In sums Of 1900 each, wit
semi-anuual gold coupons attached, and are Of
fered for sale az % per cent OF their par value
and accrued interest from Jan. !, Adaed In en'
rency.
The hack interest IL charged at ak per cen
In currency, though repaid In fall in gold.
this time they yield nearly
NINE PER GEM UPON THE ISTEs
NgST
These bonds bid fair 70 attain the most ?roH
inent position among the nOnSBeeulatiye d
yestments Of the country. and viii be sEtivel
dealt in at the mspey-ceptres in Europe.
Holders Of Government securities have an y
portunity Of exchanging them for Contra y
cihe Bonds bearing an equal rate Of intesss
with the principal well secured, and Of
REALIZING A PROFIT or TEN TO III
TEEN PEE CgST. IN ADDITIoS.
Order, amt With the funds thrOugh TespOn
lie Banks or Expires Companies viii reeei
N uronpt attention. Bonds sspt BY return L
nre-s % any address In the United stats,
y Sur cost Inf0rpa alton. Descriptive pauphls'
Mar, &c. furnished on application az the oel
Of The Railrcad Company, No. 81 "hiiA
street. and Of