The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-07-03
Central Pacific Railroad First
Mortgage Bonds.

1t is commonly known that the General ,Irv.
ernmSnt, for wise purposes, has given it, aid
and encouragement 20 the construction of one
MAIN THROUGH LINE OF RAILROAD from tho Pa.
cifc Ocean across the Territories 10 connect
with the various Eastern Branshes Of the Pa.
ciic Railroad system, and which will form the
GRAND TRUNK ROUTE 20 the Far West
upon which the mighty transcontinental traffic
will concentrate.
are carrying 10 forward with
greater energy and persistence than WAS ever
shown In any siR1ilar work in ancient or modern
umes-will bui.n, equip own aud control the
Western Half Of this Through Line. the most
productive, favored, and valuable PARTON of the
the richest franchise ever granted On this cont.
nent
Tho Act OF Congress eonlers upon the Corpo
rations, besides the night Of way across the Ter.
ritories gift of - sou acres Of tho publio lands
per mile, contiguous 10 this line, and sn appro-
priation from the National credit of Sixty NIL.
LIONS in PER sENT. BONDS, delivered ~ the
work progresses: or half tho estimated cost VI
the Through Line and Branches. These Sub
sidy bonds the company may cancel ia n csurse
of years by the transportation services of the
Roads, and n small per centage Of their net earn.
ings; they, therefore, constitute Az element Of
great strength Ia the corporations.
The Act further authorizes them To issue an
equal amount of their own First Mortgage
Bonds Of corresponding denominations, IShieh
shall be The first oldiia upon The uhOe rdihUdd prop
erty dad 20 soAich the hen Of the Gopernnent shall
BE- subordinate AZ 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.
The great CENTRAL Pacific RAILROAD Is there
fore in an important sense, q SRJI NATIONAL.
WORK aided and commended by the people, the
Legislative power, and the Executive officers
though its management il administered i,lh al
me care and JOrehOuht " The MO-, eiHGIgHi Jyirdts
corporations. Being under the constant super
ViJiOn of the GOvernment-who, being tho prin
cipal creditor, accepts subordinate aud cGntin
gent lien-wIth 80 large an amount Of addition
nj capital also invested in the property pledged
it Is believed that no securities now offered In
the market possess the sane claims "a conf.
dence and market value, oIcepG those of the
Government
Under these iavoring auspices very gratifying
progress has been made In extending the alpIad
track from both directions. Nearly lO0o miles
of the Main Line and convcrging Branches Ice
tween the Missouri River and the base Of the
Rocky Mountains have been built within three
wears. The CENTRAL Pacific RAILROAD has
also steadily and successfully carried the MAN
Stem Line from the steamboat nav lgation of the
Pacific To the summit 0f the Sierra Nevada aui
into the Great Salt Lake Basin east at the Calf.
fornia line. Having overcome by far th" Inos,
n.t1 lt,.l.,
line the probabilities of the through connection
with tho Eastern lines being effected In lS7n
anount almost Ia certainty.
The prominent feature in the progress Of the
CENTRAL PA IFIC RAILROAD Is the remarkably
large and profitable Local Burincss which Ia de.
veloped upon the completed portion more than
iustifying the estimates Of IL pr oIcctOrs Z
the Immense traffic between the ports 81 Call
fornia and the mining regions of the Int'i or
would sustain hrst-class railroad line. even 10
the overland connections were not bBilt. The
net profit npOn operating the link Of loss than
one hundred miles, thus tar, reashes nearly twa
millions in gold, and this ratio will b" doubled
during tho coming season, when the entir"
mountain transit IL made by the locomotive
With every extension Of the track. the business
aud profits of the completed part are Increased,
that when the overland through traffic shall
be- Centcred upon the CENTRAL ROAD, the gen
eral prosperity Of tho company will he without
parallel, and its securities appreciated CORES
pOndingly. The CENTRAL PACIFIC RAILROAD
COMPANY offer for sale theirFIkST MORTGAGE
THIRTY YEAR SIX PER CENT GOLD
BON DIS, and submit 10 Investors tie
following, among other obvious cOuSi,lera-
tions. aud invite the comparison With the merits
and eXcellenciss OF any class OF Corporate ~
eurities:
I La. al
aud valuable part Of the Grand National Pacific
Railroad. soon 10 become the main channel OF
communication on the continent.
H. The local settlement aud bnsinc-, Their e
from is remarkably large and profitable, and
must constantly increase.
Ill The hardest part of the road Ia now
built, and the remainder will Ls rapidly carrie
forward over the Salt Lake Plains.
Nv. The greatest part Of the means necessary
to build the road IL provided by the T. \. Gov
eminent upon a subordinate lien.
have contributed upward u tJ,DO,OU Ia the
enterprise without lien.
VI. The grant Of land Is destir cd at an early
day IN prove Of far greater market yAine than
the total Of the frat mortgage bonds issued
upOn the road and equipments
VII This road lies altogether among the gUld
and silver producing regions, and itS revenues
are received in coin.
VIII. The management u this company ba
been In the highest degree prudent and frugal
and the whole surplus, after pay msnt Of eHpeDs'
and interest, IL devoted 60 construction purps
ses.
TX. The interest liabilities Of the eOinpan,
are even n0W Ie.s than q third the net esrriIbE
upon the rad pledged.
X. Both Principal and IntSret are yey0I< 1
Gold, under special prOTiSion- Of bath haii0na
and state ensrtmeut.
The bonds are In sums 81 500 each. uin
semi-aanual gold coupons attached and are Oi
fered for sale at Is per cent Of thsir par value
and Aecrued interest from Jan. !. AdAed' lh cur
rency.
| Tn. hack interest IL charged n siI per cen
| In e,frysJ.cv though repaid ia fall ia yob A
1 this time they Yield nrariS
NINE PgR OEsT UPos TBg JYTESI
NEST.
| Thfss lspnsis I'D fair 70 Aitzin ths Iaa@t ,tsR
iBsnt pD-iiisn among the BeR- speculative q