The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-03-14

ernmaut for wise purposes, has gwen us ara
and encouragement TO the construction OF one
MAIN THROUGH LINE OF RAILROAD from the IA
| cifc Ocean across the Territories 70 connect
with the various Eastern branshes OF the Ia
eifc Railroad system, and which win form the
GRAND TRUNK ROUTE to the Far West,
upon which the mighty transeontinentAl franc
viii concentrate. .tf
The CENTRAL PACIFIC RAILROAD
COMPANY-who are carrying it 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 tns
productive, favored, and valuable portion Of the
| whole and may justly be reg>sIed 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 II sou acres OF the public lands
per mile contiguous to this line, and en- appro'
priation from the National credit OF Sixty NIL
LIONS in 6 FER CENT. BoNDs, Delivered rs the
work progresses or half the estimated cost OF
the Through Line and Branches. These Snb-
sidy bonds the company may cancel IN course
| of wears by the Transportation services OF the
Roads, and small per centage Of their net carr.
ings; they therefore, constitute Sn element OF
great strength to the corporations.
eoual amount of their own First Mortgage
Bonds of corresponding denominations, nhleA
sh1H be he first claim upon he Uhots railroad prop
sytv and 10 totich he lien Of the Government SAdH
be subordinate as means Of more readily secur'
ing the remaining half OF tho capital ior the con,
| struction; the equipments, &c, being providcd
out Of the capital stock subscriptions and other
| sources.
The great CENTRAL PACIFIC RAILROAD Is there
| FORE in an important sense, . SHENANDOAH
Work aided and commended by the people, the
I legislative power, and the Executive officers
| though its management In administered 'oafh au
the carr aud f0reth0it1M Of Tic SloSf etainf pirate
coTporations Being undor tho constant super
viGiOn Of the Government-who, being the prin
cipal creditor accepts subordinate ana oontih'
| gent hen-with 20 large an amount Of addition.
al capital also invested in the property piedged,
| IL is believed that no securities now offered IN
the market possess the sane claims 10 conn.
denCe and market value, except those OF the
| Government.
Under these favoring auspices very gratifying
propress has been made in extending the railroad
| track from both directions. Nearly 1000 miles
| of the Main Line and cOHvcrging Branches De'
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 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 Sic Call,
| 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 10 lsI0
amount almost to certainty. aIrr.
The prominent feature In the proTesa OF the
| CENTRAL PACIFIC RAILROAD II the remarkably
large and profitable Local Business which II de
veioped upon the completed portion, more than
Iustffying the estimates Of It's pi0iectors-that
the immense traffic between the ports OF Cali
fornia and the mining regions OF tue int'' OF
would sustain n frst-class railroad line, even II
| the overland connections were not bhilC The
net profit upon operating the link OF less than
one hundred miles, thus far, reaches nearly two
millions in gold, aud this ratio will be doubled
during the coming season, whom the entire
mountaiA transit Is made by the locomotive.
| With every extension Of the track, the business
and profits Of the completed pNrt ara inGreaseti
| 80 that when the overland through traffic shau
be conferred upon the ORSrRAL RoAp, the gen.
eral prosperity of the company will be without
parallel, aud It's securities appreciated cores
poudingly. Tho CENTRAL PACIFIC RAlLReR
COMPANY offer for sale theirFIkST MORrGhGE
THIRTY-YEAR SIX PER CENT. GOLD
lBONDS, and submit 20 Investors TIE
following, among other obvious eonsihera-
lions: and invite the comparison with the merits
and excellencies Of any claas OF Corporate Sc
curities:
Tf- .s
7. These Bonds are based upsn 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 il remarkably large and profitable, and
must constantly increase.
III The hardest part Of the road is now
built, and the remainder viii be rapidly carried
! forward ever the Salt Lake Plains.
". The greatest part Of the meana necessary
to build the road is provided by the U. ). Cow
eminent upon subordinate Hen
V. Ike State and chief cities Of California
have contributed upward OF - 10000 70 the
enterprise without lien. ..'
vi. The giant ofIand is destined at an early
day 70 prove Of far greater market value than
| tho total or the first mortgage bonds Issued
spon the road and equipments.
VII. This road lies altogether among the gold
and silyer-producing regions, and It's revenues
are received IN coin
| VIII The management Of this company has
been in the highest degree prudsBt and frugal,
| and the whole surplus. after payment Of expense
and interest, IL devoted 70 construction parpo-
ses.
TX. The interest liabilities Of the company
/ are oven now less than third the pet earnings
upon the road pledged.
X. Both Principal dJs InteTeH are payable IN
Cod under special provisions Of both National
| and State enactment r
The bonds are Ia sums Of 1900 each, with
semi annual gold coupons attached, and are Of
fered for sale At IS per cent Of their par value,
and accrued interest from Jan. J. adacd. In cur.
rency.
The back interest IL charged Il sig per cent.
| In currency, though repaid in fun Ia goId- At
this time they yield nearly
mxE PER CENT CPoy TIE ISFESr.
MBYL
|