The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-03-23

/ with the VARIOUS EAsItEn bIduaQth VI TUG -
citc Railroad system, and which will form the
GRAND TRUNK ROUTE 70 tho Far West
upon which the mighty traRs-continentAl traffic
| will concentrate.
The CENTRAL PACIFIC RAILROAD
! COMPANY--who are carry ing IL forward with
! greater energy and persistence than was ever
shown in any similar work in ancient or modern
times-will build, 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 conCers upon the CorpO-
ratiOns besides the right of way across the Ter,
ritories gift of IL SUI acres OF tho public lands
per mile contiguous to this line, and en- appro
priation from the National credit Of SIXTY NIL,
| LIONS in 6 FER CENT. RoNDs delivered as the
work progresses; or half tho estimated cost OF
the Through Line and Branches. These Sub
| sidy bonds the cOmpsny may cancel in y course
of years by the Transportation services Of the
Roads and n 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 an
equal amount of their own First Mortgage
! Bonds Of corresponding denominations Iohieh
shall be The first claim upon he tchob railroad prop.
erty, and 90 tohieh he lien Of he Government ShdR
be subordinate as a means Of more readily secur.
ing the remaining half Of the capital for the con.
| structiOn; the equipments &c, being provided
ont Of the capital stock subscriptions aud other
sources
The great CENTRAL PACIFIC RAILROAD is there
| fore in an important sense, u MINATiONAL
Work, aided and commended by the people, the
Legislative power and the Executive officers,
though It's management Ii administered Nth all
the care aud JOrethOught Of the most eminent pTIrdts
corporations Being under the constant super
WHOM of the GOvernment-whO, being the prin'
cipal creditor, accepts subordinate and cOntin-
| gent lien-with 80 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 conn.
drnce 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. The CENTRAL Pacific RAILROAD has
also steadily and successfully carried the Main
| Stem Line from the steamboat navigation of the
Pacific TO 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 the Eastern lines being effected in 1870
amount almost TO certainty.
The prominent feature in the progress Of the
CENTRAL Pacific RAILROAD IL the remarkably
! large and profitable Local Business which 10 de
yelOped upon the completed portion, more than
| iustifying the estimates Of its pIojectors-that
| the immense traffic between the ports of Cali
fornia aud the mining regions Of the into or
would sustain a firstClaAs railroad line, even N
| 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
mountaR transit Is made by the locomotive.
/ With every extension Of the track the business
and profits Of the completed part are increased
80 that when tho overland through traffic shall
be centered upon the CENTRAL ROAD, the gen.
eral prosperity Of the company will be without
parallel aud its securities appreciated cores,
pondingly. The CENTRAL PACIFIC RAILROAD
| COMPANY offer for sale theirFIhlST MORTGAGE
THIRTY-YEAR SIX PER CENT. GOLD
| BIO " DIS, and submit TO Investors tie
following, among other obvious coRsidera-
and eHcellencies Of any class OF Corporate 40
| curities'
I. These Bonds are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad. sOol 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.
| Ill The hardest part Of the read Ia now
built, and the remainder viii be rapidly carried
/ forward over the Salt Lake Plains.
/ ". The greatest part 81 the means necessary
/ TO build the road Is provided by the U. 5. Gov
/ eminent upon a subordinate lien.
have contributed upward Of sJ.ODO,0gU 10 tbs
enterprise without lien.
DAY 20 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 gold
and silver-producing regions, and its revenues
are received in coin.
VIII. The management Of this company hai
/ been in the highest degree prudent and frugal
and the whole surplus, after payment OF e1pehs'
\ and interest IL devoted 70 construction Purpo
Sea.
TX. The interest liabilities Of the eOmpAn,
are even now less than a third the net eaTniB q
HpOn the road pledged.
K Both Principal and Int<resf are pdyabLs u
Gold, under special provisions Of both Sationa
and state enactment
The bonds are in sums Of 1900 each. viii
semi annual gold coupons attached, AID are o.
fered for sale At % per cent. Of their par value
and accrued interest FROM Jan I, AIDED In cur
rency.
The back interest IL charged at six per cent
In currency. though repaid In full In gold A
this time they yield nearly
NINE PER CENT. CPOY The TyTEs1
HEET