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

1t Is commonly known that the General Gov.
ernmout 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 trans-continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-who are carrying it forward with
greater energy and persistence than was ever
shown In any siplilar work in ancient or modern
times-will buiia, equip, own aud 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
ritories gift of - 800 acres OF the public lands
per mile, contiguous 10 this line, and en- appro.
priation from the National credit Of sixty NIL.
LIONS in PER CENT. BONDS, delivered as the
work progresses; or half tho estimated cost OF
the Through Line and Branches. These Sub.
sidy bonds the company may cancel in q course
of years by the Transportation services OF the
Roads, and a small per centage Of their net earn.
ings; they, therefore, constitute an element of
great strength TO the corporations.
The Act further authorizes them 10 issue al
equal amount of their own First Mortgage
Bonds Of corresponding denominations nVhieA
shall be the first claim upon The pAOte railroad prop
erty aud 20 ichich The lien Of the Government shall
be subordinate. as q means OF more readily secur.
ing the remaining half Of the capital for the con-
struction: the equipments, &c, being provided
out of the capital stock subscriptions and other
sources.
fore, in an important sense, q SRNu' NATIONAL
Work aided and commended by the people, the
Legislative power, and the Executive officers,
though its management is administered nth al
the care and JOrethO,fJh Of the most eminent pTipate
corporations. Being under the constant super
vi0ion of the GOvernment-who, being the prin'
cipal creditor, accepts subordinate and contin'
gent lien-with 30 large an amount of addition
al capital also invested In the property pledged,
it Is believed that no securities now offered In
the market possess the sane claims 10 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 converging Branches be
tween the Missouri River and the base Of the
Rocky Mountains have been built within three
years. Tho CENTRAL Pacific RAILROAD has
also steadny and successfully carried the Main
Stem Line from the steamboat navigation Of the
Pacific 10 the summit of the Sierra Nevada ant
into the Great Salt Lake Basin east Of the Cali
fornia line. Having overcome by far the mos
difficult and expensive portion Of the whole
line, the probabilities Of the through connection
with the Eastern lines being effected In ls7l
amount almost TO certainty.
The prominent feature In the progress Of III,
CENTRAL PA IFIC RAILROAD is the remarkably
large and profitable Local Business which IL dc
velOped upon the completed portion, more thar
justifying the estimates Of its pIojectors-that
the immense traffic between the ports OF Cali
fOrnia and the mining regions OF the int,i u
would sustain hrst-class railroad line, oven /
the overland connections were not built TIL,
net profit upon operating the link Of less thar
one hundred miles, thus lar, reaches nearly TIVE
millions in gold; and this ratio will be doubles
during the coming season, when the entir'
mountain transit IL 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 withou
parallel and its securities appreciated CORES
COMPANY offer for sale thcirFIhST MORTGAGE
THIRTY-YEAR SIX PER CENT. COLI
30 n IS, and submit 10 Investors ~
tons. anil invite he comnariso n With Tie merit
and excellencies Of any class Of Corporate 10
Gurities:
J. These Bonds are based upon the most vita
and valuable part Of the Grand National Pacih
Railroad. soon to become the main channel o
II. The local settlement and business Their q
from Is remarkably large and profitable an
III. The hardest part OF the road IL nov
built, and the remainder VIII DC rapidIy carrie
". The greatest part Of the means Decessar,
| To build the road II provlhOd ny the L. >. bON
eminent upon a subordinate lien.
have contributed upward OF E'OO,"1 to tn
enterprise WITHOUT heh'
the total ,Sa Of the the rst mortgage bonds Issue
VII This road lies Altogether among the gol,
VII, r.. ,,.,.,a,n.,, ., ,,,. oo,,,.,, h.
-, =. a. h;1has, &C.,. ,,,nd.,t III fry ..
| 90 ,ha ,Thola an rrIus sfter naymsnt al eYnen,
~ tn,.rsst q $1,000 40 sngstrnction nm.
~" ~
|
TX. The interest liabilities Of the eompan
Ill.,, 49,. .,,,.,,,.
and State enactment
fered for saIe al 95 Der cent. Of their par valu
and accrued interest from Jan ]. aided, in Gu
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