The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-08-03
Central Pacific Railroad First
Mortgage Bonds.


Mortgage Bonds.
1t is commonly known that the General Gov
ernmont, for wise Purposes, has given its al,
and encouragement to the construction Of on,
MAIN THROUGH LINE Oh RAILROAD from the Pa
citc Ocean across the Territories 10 counec
with the various Eastern Branshes Of the Pa
cite Rai!road system, and which will form th,
GRAND TRUNK R0UTR 70 the Ear West
upon which the mighty raRs-continental TRAIN.
will concentrates.
The CENTRAL PACIFIC RAILROAD
COMPANY-who are carrying 10 forward with
greater energy and persistence than was eyei
shown In any siRilar work in ancient or modern
tlmes-wnl eui.u, equip, own and control the
Western Half Of this Through Line, the most
productive, favored, and valuable portion of tho
whole. and may Justly be regarded rs possessing
the richest franchise ever granted on this CONT
nent.
The Act Of Congress conters upon the Corpo
rations, besides the night Of way across the Ter
ritories gift Of r. 800 acres Of the public land.
per mile, contiguous TO this line and al appro
priation from the National credit Of sixty NIL
LIONS In PER CENT. BONDS, delivered % the
work progresses; or half the estimated cost OF
the Through Line and Branches. These Sub.
sidy bonds the company may cancel in n csurse
Of years by the Transportation services Of the
Roads, and small per centage Of their net earn
ings; they, therefore,, constitute an element ot
great strength 10 the corporations.
Tho Act further authorizes them TO issue an
equal amount OF their own First Mortgage
Bonds Of corresponding denominations, totiel
shall BE- The first claim upon The rhOte railroad prop
erty and 20 ioIieh the lien Of The Government shall
be subordinate, as n means of moro readily secur
ing the remaining half Of the capital for the con
structi0n 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 SEMI. NATIONAL
WORK, aided and commended by the people, the
Legislative power, and the Executive officers
though its management is administered Wih al
the care aud t0retaOtOh fkhs most eminent pirate
corporations. Being under the constant super
yiaion 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
il Is believed that no securities now offered in
the market possess the sane claims TO conh.
dence and market valne, except those Of the
Government.
Under these favoring auspices very gratifying
progress has been made In extending tile railroad
track from both directions. Nearly 1000 miles
of tho Main Line and csnverging 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 I'll,
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 Ir7l
amount almost 10 certainty.
The prominent feature In the progress Of tn
CENTRAL PA IFIC RAILROAD IL the remarkably
large and profitable Local business which IL do
velOped upoR the completed portion, moro thar
lustifying the estimates of It's PROFESSIONALISM
the immense traffic between the ports Of Cali
fornia and the mining regions of the int,i N
would sustain first.class railroad line, even !
the overland connections were not built. Th'
net profit upon operating the link Of less thai
one hundred miles, thus far, reaches nearly tw,
millions In gold and this ratio will be dOublet
during the coming season, when the entir,
mountain transit Is 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 tho company viii be withOu
parallel, and It's securities appreciated CORE.
pOndingly. The CENTRAL PACIFIC RAILR9AI
COMPANY offer for sale theirFIRST MORTG AGI
Thirty. YEAR SIX PER CENT. COLI
BIO NDS, and submit TO Investors ~
following, among other obvious oonsidera
tions; and invite the comparison with the merit
and e1cellencies OF any class OF Corporate sc
eurities
]. These Bonds are based upon tho most vita
aud valuable part Of the Grand National Pacifi
Railroad. soon TO become the main channel o
communication on the continent.
II. The local settlement and business ther 9
from Ia remarkably large and profitable, an
must constantly increase.
III. The hardest part OF the road IL nov
built, and the remainder will DO rapidly carrie
forward over the Salt Lake Plains.
". The greatest part Of the means necessar.
tn build the road is provided by the IT, y Gov
ernment upon a subordinate lion.
V. The State and chief cities OF Califorpi
enterprise without lien.
VI. The grant Of land Ia destined at an earl!
day to prove Of far greater market valus thai
| the total OF the first mortgage bonds issue
upon the road and equipments.
VII This road lies altogether among the gol'
and silver producing regions, and its revenue
are received In coin.
| VIII. The management Of this company ba
been In the highest degree prudent and fruga
and the whole surplns after payment OF expeps
and interest, is devoted 70 construction purp'
ses.
! TX. The interest liabilities OF the eompsn
are even now less than third the net earning
upon the road pledged.
x. Both Principal and IHt<rsst ar, pdyabL
Gold under special provisions Of both Nations
and Stats enactment
The bonds arc 10 sums Of 1900 each, vii
semi-aunual gold coupons attached, and are o
fered for sale at ~ per cent Of their par vaiu
and accrued interest from Jan. ]. sdaed' In Gu
reney.
| The back interest IL charged NJ slK per cen
in c,v,e.ev though repaid In full 10 gOLd.
this time they yield nearly
NINE PER CENT. UPON THE TyVEs
NEST
These boDdsbsd fair to attain the most yror
ineut position among the moo speculative !
vestIDents OG the country and win BE- active
dealt In n the insnsy eeBtres in Europe
Holders Of Government securities have o
portunity Of exchanging them for Central
eiGe Bonds hearing An equal rate q iBtnres
with the principal well secured, and Of
REALIZING A PROFIT OF TEN TO III
TEEN PER CENT IN ADDITION.
Drders a4nt with the fuDds through respop'
HE Banks or Express Companies WI roeet'