The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-06-22
Central Pacific Railroad First
.pl.
Mortgage Bonds.

CeHtfHi ucluc haiIrOau FIRST
Mortgage Bonds.
It is commonly known that the General Gov
eminent, for wise purposes, has given its aid
aud encouragement TO the construction OF one
MAIN THROUGH LINE on RAILROAD from the Pa
cifc Ocean across the Territories 10 connect
with the various Eastern branches Of the Pa
cifc Railroad system, and which will form the
GRAND TRUNK ROUTE 10 the Far West
upOn which the mighty transContinental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
C0MPANY-whO are carrying it forward with
greater energy and persistence than was ever
times-will buiiq, 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 a. 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 ~ sOO acres Of the public lands
per mile contiguous to this line, and TN appro.
priation from the National credit Of SlNrY NIL.
LIONS In PER CENT. BONDS, delivered a. the
work progresses; or half tho estimated cost OF
the Through Line and Branches. These Sub
sidy bonds the compsny may cancel in a course
of years by the Transportation services Of the
Roads, and q small per centage of their net earn
ings; they, therefore, consulate an element OF
great strength 10 the corporations.
The Act further authorizes them 10 issue an
equal amount Of their own First Mortgage
Bonds of corresponding denominations, tchieIG
shall be the first claim upOn The IchOts railroad prop.
erty and 20 Irhich the lien Of the Government ShnH
be subordinate, as o means of more readily secur.
ing the remaining half of tho capital for the
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, . SESu'NAIIoNAL
WORK, aided and commended by the people, the
Legislative power and the Executive officers,
though its management Ia administered tsth all
the care aud OTethOtG1h Of the most eminent PIRATE
cOrpordtionS Being under the constant super
vioiOn 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 20 cont.
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 cOnvergiug 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 tho Eastern lines being effected in is70
amOunt almost to certainty.
The prominent feature in the progress Of the
CENTRAL PA IFIC RAILROAD Ia the remarkably
large and profitable Local Business which Is de.
velOped upon the completed portion, more than
iustifying the estimates of its pIOjectors-that
the immense traffic between the ports Of Cali
fOrnia and the mining regions Of the int, or
would sustain irst-class railroad line, even II
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 he doubled
during the coming season, when the entire
mountain transit IL made by the locomotive.
w ltl every VI ldIht luo
and profits Of the completed part are increased;
so thR when the overland through traffic shall
be conferred upon the CENTRAL ROAD, the gen.
eral prosperity Of the company will be without
parallel, and Its securities appreciated cores.
Pondingly The CENTRAL PAcITIc R RAJ =,
THIRTY. YEAR SIX PER CENT GOLD
BONDS, and submit 10 Investors tie
following, among other obvious COnsidera-
tons; and invite the comparison with the merits
and excellencits Of any class OF Corporal" sc.
curities:
l. These Bonds are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad soon 10 become the main channel of
communication on the continent.
III. The local settlement and business ther 9
from il remarkably large aud profitable, aud
must constantly increase.
Ill The hardest part Of the road in now
built, and the remainder will be rapidly carrie 4
forward over the Salt Lake Plains.
Nv. The greatest part Of the mean. necessary
to build the road il provided by tho L. ). Coy
eminent upon subordinate lien.
V. The State and chief cities Of California
enterprise without len.
VI. The grant Of land isdestiaed At an early
day 10 prove Of far greater market value than
the total Of the first mortgage bonds Issnsd
upon The road and equipments.
VII. This road lies altogether among the gold
and silver producing regions and its revenues
an received in coin.
VIII. The management OF this company has
been in the highest degree prudent and frugal,
and the whole surplus after payment Of expense
and interest, is devoted 10 conHrnriion pnrpo
SEA-
TX. The interest liabilities Of the company
are even nov less than a third the net earnings
npon the road pledged.
K. Both Principal and InieJcsf are pdyabl> IN
Gold under special provisions OF both National
and State enactment.
The bonds are in sums Of 5000 each with
semi-sunual gold coupons attached, and are OF.
fered for sale at 05 per eent. Of their par value
and accrued interest from Jan. ]. added, In Cur.
rency.
Inc D9fA lubrTeol u C1AISc1 AA IFIE
In e,1Teacv, though repaid In full In 9oid. A
this time they yield nearly
NINE PER CENT. UPON TIE IyTESr
HEYT
These bonds bid fair 30 attain the most prom
insnt position among the nbn1pec0ialTe 10
TestmeEts q The country, and viii be actively
dealt in At the nsBey-oeBtrss IN Europe.
Holders Of Government securities have an OB
portunity Of exchanging then for Central r,
eiie Bonds bearing an equal rate Of interest
With the principal vel sscured, and ~
REALIZING 4 PROFIT or TEs 10 FTT
TEN PER GEET. IN ADDITION.
Orders sent with the funds through responHt
| BILE RsnkS on RTprs~s Companies VIII receive
/ 49, @~----. ~ r+@E- a. p