The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-06-16
Central Pacific Railroad First
Mortg age Bonds.

II is commonly known that the General Gov
eminent for wise purposes, has given its al
and encouragement 90 the construction OF on
MAIN THRoUGH LINE OF RAILROAD from the ia
cifc Ocean across tho Territories 20 connec
with the various Eastern Branshes Of the Pa
cifc Railroad system, and which viii form tn
GRAND TRUNK ROUTE 70 the Far West
upon which the mighty trans'continental trafh
will concentrate.
The CENTRAL PACIFIC RAILROAD
C0MPANY-who are carrying IL forward will
greater energy and persistence than was eve
shown In any siVNilAr work In ancient or moderi
times-will bui'a, equip, own and control tn,
Western HAlf Of this Through Line. the mos
productive favored, and valuable portion Of thu
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 right of way across the Ter
ritories gift Of IL, 800 acres OF the public land
psr mile, contiguous TO this line, ard en- appro
priation from the National credit of sixty MIL
LIONS in PR CESr. BONDS delivered as thu
work progresses or half the estimated cost o
the Through Line and Branches These Sub
sidy bonds the company may cancel in csurs
Of years by the transportation services of tn
Roads, and small per centage Of their net earn
invs; they, therefore, consulate an element %
great strength TO the corporations.
The Act further authorizes them 10 issue NJ
equal amount Of their own First Mortgag,
Bonds Of corresponding denominations, iohiel
shall be The first claim upon the tchos railroad prop
eyty and % tchieh the lien Of te Government shall
be subordinate a. O means Of more readily sccur
ing the remaining half Of the capital for the con
struction; the equipments, &c, being provides
out of the capital stock subscriptions aud Other
sources.
The great CENTRAL PACIFIC RAILROAD is there
FORE In an important sense, n SEMI NATIONAL
WORK aided and commended by the people, the
Legislative power, and the Executive Oiicers
though its management Is administered itih al
the care and Joretho1gh Of the most eminent pTirdi,
corporations. Being under the constant super
viDion Of the Government-who, being the prin
cipal creditor, accepts q subordinate and contin
gent lien-With so large an amount Of addition
n capital also invested In the property pledged
it Is Believed that no securities now offered In
the market possess the SANE claims - CONT
drncc and market value" cXccp; those % Tie
Government
Under these favoriDg auspices very gratifying
progress has been made in extending the railroad
track from both directions. Nearly 1000 miles
Of the Main Line and cenverging Branches be
tween the Missouri River and the base Of the
Rocky Mountains have been built within three
years. The CENTRAL Pacific RAILROAD Ia,
also steadily and successfully carried the MAR
Stem Line from the steamboat navigation OF th'
Pacific to the summit Of the Sierra Nevada, AnC
into the Great Salt Lake Basin east Of the Cali
fornia line. Having overcome by far the InOst
difficult and expensive portion Of the whole
line, the probabilities Of the through connection
with the Eastern lines being effected in 1874
amount almost 20 certainty.
The prominent feature in the progress Of the
CENTRAL PA IF1c RAILROAD IL the remarkably
large and profitable Local Business which In do
veloped upon the completed portion, more than
Iustifying the estimates OF It's projectors that
the immense traffic between the ports of Cali
fOrnia and the mining regions Of the int OF
would sustain trst-Clnss railroad line, even II
the overland connections were not built. The
net profit upon operating the link OF less than
one hundred miles, thus tar, reaches nearly two
millions In gold; and this ratio will be doubled
during the coming season, whom tho entire
mountain transit Is made BY tho 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 centered upon the CENTRAL ROAD, the gen
eral prosperity of the company will be without
parallel, aud its securities appreciated cores
pOndingly The CENTRAL PACIFIC RAILROAD
COMPANY offer for sale theiTFIIIST MORrG AGE
THIRTY.YEAR SIX PER CENT. GOLD
BON DIS, and submit 20 Investors TIE
tons; and invite the comparison with the merits
and eIcellencies Of any class Of Corporate Sc
Gurities:
l. These Bends are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad. soon 70 become the main channel Of
communication on the continent.
II. The local settlement and busIsess Their Q
from Ia remarkably large and profitable, and
must constantly increase.
III. The hardest part Of the road Is now
built, and the remainder will be rapidly carrie
forward ever the Salt Lake Plains
~. The greatest part Of the means necessary
to build the road In provided by the U. ). Gov
eminent upon a subOr dinate lien.
V. The State and chief cities OF California
have contributed upward Of fa,00O,OD 90 the
enterprise without lien.
VI. The grant Of land is destined Al an early
day 10 prove Of far greater market value than
Ine LOLal OF the HTht iuVItkAko Oohh1 lH6uNH
upon the road and equipments.
VII. This road lies altogether among the gold
and silver.Producing regions, and Its revenues
are received In coin.
VIII The management Of this company ha'
been In the highest dsgree prudent and frugal
and the whole surplus, after payment OF expense
and interest, IL devoted 20 construction purpe
ses
TX. The interest liabilities Of the company
are eyeunOw less than . third the net earning,
upon the road pledged.
I. Both Pyinapdl and IntsTea are payable "a
GOld, under special provisions Of both SatiOnA
and State enactment
Tho bonds are in sums Of 5000 each, with
ssmi-aunuAl gold coupons attached, and are OF
fered for sale at 95 per cent Of their par yalns
and accrued Interest from Jan. !, added, IN cur
rency.
The back interest il charged At sig per cent
in currency though repaid in foil 10 geld. A
this time they yield nearly
NINE PER CENT. UPON THE INVEST
YRET.
These bonds bid fair 10 attain the most 1rOu
inept position among the nonTReculatiTe IN
yestments Of the country, and wiz Be aetiysl.
deaif ~ ~ thn l-oarv-eobtr's 10 Europ-
Holder 81 G.SsEhmsHt ssCurtIcI have an 90
poriG1Ity OF exchanging them fer Central r
cihe Bonds bearing AZ e9ual rate Of Interest
With The pTins iPal vel seeured, and 81
REALIzISG 4 PROFIT OF TEg TO PIP
TEEN PER CENT. IN ADDITION
Oraer. s.ut ~fth tis funds through rssPoBsi
be Ranks or EIprcss CGnpAnSes VII 10y ~