The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-08-27
Central Pacific Railroad First
Mortgage Bonds.

It Is commonly known that the General Gov.
ernmSnt for wise purposes has given its Aid
and encouragement 10 the construction of one
MAIN THROUGH LINE OF RAILROAD from the PA,
cifc Ocean across the Territories TO 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 traps-continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
CoMPANY-who are carrying II forward with
greater energy and persistence than was ever
shown In any sip,ilar 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 rs 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
ritoTes gift of II 800 acres Of the public lands
per mile, contiguous TO this line, and an appro-
priatiOn from the National credit Of SIXTY NIL.
LIONS in PER CENT. BONDS, delivered as the
work progresses; or half the estimated cost OF
the Through Line and Branches. These Sub
sidy bonds the company may cancel in course
Of years by the Transportation services of the
Roads and a small per centage of their net earn
".
great strength TO the corporations.
The Act further authorizes them TO issue an
equal amount of their own First Mortgage
Bonds Of corresponding denominations, tohioh
shall be the first claim upon the tohOis railroad prop
erty and 20 ichich The lien Of the Government shall
be subordinate, as a means OF more readily secuT.
ing the remaining half of the capital for the con.
struction; the equipments, &c, being provided
ont nj tba canital stock subscrntiOna and other
sources.
The great CENTRAL Pacific RAILROAD Is there
fore In an important sense, a SEMTNATloNAL
WORK. aided and commended by the people, the
Legislative power, and the Executive officers,
though its management Is administered nth al
the care and 6orethOught u the most eminent prtpdte
corporations. Being under the constant super
viDiOn of the GOyornment-who, being the prin'
cipal creditor, accepts subordinate aud cOntin'
gent lien-with 40 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 conf.
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 he.
tween the hlSsDuIl ISlNtT inc DdNc tl tue
Rocky Mountains have been built within three
years. The CENTRAL Pacific 'RAILROkD 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 1876
amount almost TO certainty
The prominent feature In the progress Of thC
CENTRAL PA TTc RAILROAD Is the remarkably
large and profitable Local Business which II de
veloped upon the completed portion, more thar
iustifying the estimates of its pIojectOrs-thal
the immense traffic between the ports Of Cali
fOrnia and the mining regions Of the int,i Ol
would sustain first-class railroad line, oven Il
the overland connections were not bnilt. Thu
net profit upon operating the link Of loss THAI
one hundred miles, thus far, reaches nearly tw'
millons in gold and this ratio viii he doubled
during the coming season, when the cptir,
mountain transit is made by tho locomotive
With every extension Of the track, the business
and profits Of the completed part are increased
20 that when the overland through traffic shall
be centered upon the CENTRAL ROAD, the gen
eral prosperity Of tho company will be without
parallel, and its securities appreciated CORES
pondingly. The CENTRAL PACIFIC RAILReAT
COMPANY offer for sale theirFIkST MORTGAGE
THIRTY.YEA SIX PER CENT. GOLD
BON DS, and submit 10 Investors TIE
following, among other obvious considera
tons; and invite the comparison with the merits
and eXcellencies OF any class OF Corporate 80
Gurities:
J. These Bonds are based upon the most vita
and valuable part Of the Grand National Pacific
Railroad. soon 10 become the main channel o.
communication on the continent.
II. The local settlement and business Their Q
from ia remarkably large and profitable, an
must constantly increase.
III. The hardest part Of the road il nov
built, aud the remainder will be rapidly carrie
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
TO build the road Is provided by the U. ). Gov
ernment upon q subor dnate lien.
V. The State and chief cities OF CaliforBI;
have contributed upward Of t3OOOO00 TO the
enterprise without lien.
VI. The grant Of land ia desuRed at an early
day 10 prove Of far greater market value 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 reyenue
are received In coin.
VIII. The management Of this company ba
been in the highest degree prudent and frugal
and the whole surplus, after payment OF srpeps
| and interest, Is devoted TO construction purps
ses.
TX. The interest liabilities OF the eompan,
are even now less than a third the net earning
upon the road pledged.
Y. Both Principal and Intsred are DayaJL d
| God. under special provisions Of both SatiOnA
and state enactment.
| The bonds are In sums Of 1900 each, will
semi annual gold coupons attached, and are OF
fsred for sale at IS per cent OF their par value
and accrued interest from Jan. !, ADDED, In eur
rency.
The back interest Is charged at six per cent
| In currency though repaid In full In god. A
this time they yield nearly
NINE PER CENT. UPON TIE IgVEs1
XEET.
These bonds bid fair 10 attain the most ,ron
inent position among the B0npeeeulative IN
1 vsstmeDts Of the county, and win b. aStfvei
! dealt In at the snsy-oepires In Europe.
| Holders Of Government securities have an p
pOrtunity Of exchanging them for Central y.
| eiie Bonds bearing an equal nate Of iBtsfe''
with the principal well secured and OF
REALIZING PROFIT or TEN TO FIi
TEEN PEE CENT IN ADDITION.
Order. sent With the funds through respop.l
he Rsnks OF Express Companies viii reeeiv
| .,.o,.,.t attention. Ponds Ssnt by return IL
20. 90 any address IN the United states, .
pp1T oost Information. Descriptive paDphlsts
| Man. Ee, furnished On application &C the otile'
OF the RaiIroad Company. No. u Whii2H
! street and Of
1