The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-04-30

with the various Eastern Branshes Of the Pa
citic Railroad system, and which viii form the
TRUNK ROUTE to the Ear Msst,
upon which the mighty trans'continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
are carrying IL forward with
greater energy and persistence than was ever
shown In any siVlilar work in ancient or modern
bui,p, 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.
ritories gift Of IL sOs 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 PER CENT. RoEDs, delivered as the
work progresses; OF half the estimated cost Of
the Through Line and Branches. These Sub
sidy bonds the company may cancel in a 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 TO issue An
equal amount of their own First Mortgage
Bonds of corresponding denominations, ichieh
shall be the first claim upon the irhote ralrodd prop.
eTty and 20 iohieh the lien Of The Government shall
be subordinate, as means OF more readily socur-
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 RAIIgOAD is there
fore. In an important sense, q SENI.NATIONAL
WORK, aided and commended by the people, the
Legislative power, and the Executive officers,
though its management is administered Wih al
the care and oretkOtight Of the most eminent prIrdts
eorpOrdtiOnS Being under the constant super
viEion 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
tho market possess the sane claims To conn
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 c0nverging 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 10 the summit of the Sierra Nevada, and
into the Great Salt Lake Basin cast OF the Call
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 20 certainty.
The prominent feature in the progress OF the
CENTRAL PACIFIC RAILROAD Ia the remarkably
large and profitable Local Business which II de-
velOped npon the completed portion, more than
iustifying the estimates Of its pioiectOrs-that
the immense traffic between the ports OF Cali
fOrnia and the mining regions OF the int OF
would sustain q hrst-clAss railroad line. even IL
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 II made by the locomotive.
With every extension Of the track, the business
and profits Of the completed part are increased;
10 that when the overland through traffic shall
be centered upon the CENTRAL ROAD, the gen.
eTal prosperity of the company will be without
parallel, and its securities appreciated CORES
pOudingly. 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 eOnsidera-
tons; and invite the comparison with the merits
and eEcellencies Of any class Of Corporate Sc
surities:
/. These Bonds are based upon the most vital
and valuable part Of the Grand National PACING
Railroad soon to become the main channel OF
communication on the continent.
III. The local settlement and business there
from Is remarkably large and profitable, and
must constantly increase.
III. The hardest part Of the road il now
built, and the remainder will be rapidly carried
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
10 build the road Is provided by the U. s. Gov
eminent upon n subordinate lien.
V. The State and chief cities Of CaliforRii
have contributed upward OF sj0O0OOO ~ th'
enterprise without lien.
VI. The giant Of land Is destined at an early
dAy 20 prove Of far greater market valus thar
the total of the hrst mortgage bonds ISSUED
upon the road and equipments.
VII. This road lies altogether among the golc
and silver'producing regions, and its revenuei
are received in coin.
VIII. The management Of this co.'s pany hai
been in the highest degree prudent and frugal
and the whole surplus, after payment OF eIpeDs'
and interest, IL devoted 20 construction purpO
ses.
TX. The interest. liabilities Of the COMPANY
are even now less than third the net earning
upon the road pledged.
\. Both Principal and IHteTsst are PAYABLE Il
God, under special provisions Of both Nationa
and State enactment.
The bonds are In sums Of s1UO0 each, wit
semi-suRusl gold coupons attached, and are Of
fered for sale at 95 per cent Of their par value
and accrued interest from Jan. !, ADDED, In cur
reney.
The back interest IL charged al EiI per cent
In currency though repaid In full In gold. A
this time they yield nearly
NINE PER CENT UPoS THE TYVE7i
MEyT.