The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-06-24
Central Pacific Railroad First
Mortgage Bonds.

mortgage BONDS.
II is commonly known that the General Gov.
eminent, for wise purposcs, has given It's aid
and encouragement to the construction OF one
MAIN THROUGH LINE OF RATLRoAp from the Pa.
cific Ocean across the Territories 70 connect
with the various Eastern branches Of the Pa
cific Railroad system, and which will form the
GRAND TRUNK ROUTE to the Far West,
upon which the mighty trAns-contineutal traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-who are carrying Ii forward with
greater energy and persistence than was ever
shown in any sipNilar work In ancient or modern
times-will builn, 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 cOnters upon the CorpO.
rations besides the right of way across the Ter
rtories gift Of 70 800 acres OF the public lands
per mile, contiguous 10 this line, and I'm sppro.
priation from the National credit Of SIxrI NIL
LIONS In PR CENT. BONDS, delivered rs the
work progresses; or halfthe estimated cost Of
the Through Lice and Branches. These Sub
sidy bonds the company may cancel in . course
Of years By tho Transportation services Of the
Roads, and q small per c0ntage Of their net earn.
ings they therefore, consulate 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 denominat tons, Sohioh
shall be The first claim upon he achOe railroad prop
srty aud 10 Iohich The lien Of the Government shall
be subordinate, as o 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 and other
sources
The great CENTRAL Pacific RAILROAD ia there
fore In an important sense, q SESI.NATIoSAL
WORK, aided and commended by the people, the
Legislative power, and the Executive officers,
though its management Is administered ibih al
the care and JOTethOugt Of the most eniHSnt pirate
corporations. Being under the constant super
viaion Of the GOveTnment-who. being the prin.
cipal creditor accepts subordinate and cOntln
gent len-with 80 large an amount Of addition
al capital also invested in the property pledged
IL IL believed that no securities now offered In
the market possess the sane claims 10 cOnti.
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 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
Pacific To- the TS% hs stea a p navigation Of the
into the Great Salt Lake Basin east Of the Call.
f0rnia 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 1870
amount almost 70 certainty.
The prominent feature in the progress Of the
CENTRAL PA IFIC RAILROAD IL the remarkably
large and profitable Local Business which Ii de-
velOped upon 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 or
would sustain frst-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 be doubled
during the coming season, when the entire
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 the company will DO without
parallel, and It's securities appreciated CORES
pondingly. The CENTRAL Pacific RAILROAD
COMPANY offer for sale theirFIhST M0RTG AGE
THIRTY-YEAR SIX PER CENT GOLD
BONDS, and submit TO Investor. TIE
following, among other obvious oOnsdsra-
tons; and invite the comparison with the merits
and eIcellencies Of any class OF Corporate &c.
ourities
l. These Bonds are based upon the most vital
and valuable part Of the Grand National PGci6c
Railroad. soon TO become the main channel OF
communication on the continent.
H. The local settlement and business Their e.
from Ia remarkably large and profitable, and
must constantly increase.
III. The hardest part Of the road Is now
built, and the remainder will DO rapidly carrie
forward over the Salt Lake Plains.
~. The greatest part Of the means necessary
to build the road IL provided by tho r. :. Gov.
eminent upon q subordinate lien.
v. The State aud chief cities Of Californis
have contributed upward Of s3,OOO,OO 10 the
enterprise without lien.
vi. The grant Of land is destined at an early
day TO prove Of far greater market valne than
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 10 coin.
VIII. The management Of this company bas
been in the highest degree prudent and frugal
and the whole surplus, after payment Of eIpSnse
and interest, 10 devoted 70 construction puTps
see.
TX. The interest liabilities Of the company
are even now less than third the net earning
upon the road pledged.
X. Both Principal and Intsrea are payable n
Geld, under special proVisions Of both NationA
End state enactment.
The bonds are In sums Of 5000 each, will
semiannuai gold coupons attached, and are Of
fered for sale at g5 per cent Of their par value
| and accrued interest from Jan. !. adasd, In cur
rency.
The back interest IL charged At sE per cen,
! In eVrreEey, though repaid IN fnB in gold. A
this time they Yield neariy
NINE PER GENT UPOE rHE YFES7
NEWT.
These bonds bid fair 20 attain The mSst proHl
/ fnent pOAiti0n among the B0n1b,eUlstive in
/ vestmeBts Of the country, aud WIN be astiSFl
! dealt in AZ the msney centres IN Europe
/ Holders Of Government seeuYities have an %
! portunity % exchanging them for Central r
4 cihe Bonds bearing an equal rate Of Interest
With the principal well secured. and 81
REALIZING 4 PROFIT ~ TEN 70 EIJ
FERg PER cRyr ~ ADDnTOS
Ordsz ssnt with the funds through rtspOGsi
bic Banks o. RxpTsss CoDpanies Stn rensly'
| DrOnDf aftrotion Bonds sSut By fefurn IL
-. = 49, i IIrssa In fka Tnfapd keaaAs 4