The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-10-01

GRAND TRUNK ROUTE 10 the Far West,
upon which the mighty trans-contincntal traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
ICOMPANY-who are carving IL forward with
greater energy aud persistence than was ever
shown in any siRlilar work in ancient or modern
tlmes-will bui.u, 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.
nept
The Act Of Congress conCers upon the Corpo
rations, besides the right Of way across the Ter
ritories gift of IL 500 acres OF the public lands
per mile, contiguous to this line, and On appro-
priaton from the National credit of SIXTY MIL
| LIONS in PER CENT. BONDS, delivered as the
work progresses; or half the estimated cost Of
the Through Line and Branches. These Sub
of years by the Transportation services of the
Roads, and q small per centage Of their net earn.
| ings; they, therefore, constitute an element OF
great strength 10 tho corporations.
The Act further authorizes them 10 issue an
| equal amount of their own First Mortgage
Bonds of corresponding denominations, phieh
shall be The first claim upon The tohOe railroad prop
| erty and 20 tohieh the lien Of the Government shall
| be subordinate as a means of more readily secur.
ing the remaining half Of the capital for the con-
structon 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 SESu'NATIoNAL
WORK aided and commended by the people, the
| Legislative power, and the Executive officers,
| though its management is administered 10Th al
the care and Jorethogh Of The most eminent pirate
| corporations. Being under the constant super
vi0ion of the GOveTnment-who being the prin'
cipal creditor, accepts subordinate and contin.
gent lien-with so 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 conf.
dence and market vGlue 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
Stem Line from the steamboat navigation Of the
Pacific 10 the summit of the Sierra Nevada, and
into the Great Salt Lake Basin east of the Cali.
foEna line HaytaG yerfbSpaoh Of the whole
line, the probabilities of the through connection
with the Eastern lines being ELECTED in $50
dlhOuul ailhOob w NSA bsAlhAgs
The prominent feature in the progress of the
CENTRAL PA IFIC RAILROAD is the remarkably
largo and profitable Local Business which Is de.
velOped upon the completed portion, more than
| iustifying the estimates Of it, pIOjectOrs-that
! the Immense traffic between the ports of Cali.
! fornia and the mining regions Of the intcI or
would sustain firstClass railroad line, even IL
! 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 centered upon the CENTRAL ROAD, the gen.
eral prosperity Of the company will be without
parallel, and its securities appreciated CORES
! pondingly. The CENTRAL PACIFIC RAILROAD
COMPANY offer for sale theirFIhST MORTGAGE
! THIRTY.YEAR SIX PER CENT. GOLD
BONDS, and submit TO Investors the
! following, among other obvious cOnsidera-
tions; and invite the comparison with the merits
and eXcellencies Of any class OF Corporate 40.
eurities:
! l. These Bonds arc based upon the most vital
| and valuable part OF the Grand National Pacific
Railroad soon TO become the main channel Of
communication on the continent.
II. The local settlement and business there.
from is remarkably large and profitable, and
must constantly increase.
! III. The hardest part Of the road is now
built and the remainder will be rap dly carrie d
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road is provided by the u. =. Gov
| eminent uDOn a subordinate lien.
V. The State and chief cities Of California
have contributed upward Of tJ,OOO,0O TO the
enterprise without lien.
VI. The grant Of land Is destized at an early
day 70 prove Of far greater market yaiue 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 it, revenues
are 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 TO construction purpe-
ses.
TX. The interest liabilities Of the eompany
are even now less than a third the net earnings
upon the road pledged.
X. Both Principal and Int>rest are PAYABLE IN
Gold, under special provisions Of both National
! and State enactment.
The bonds are in sums OF 1900 each, will
semi-annual gold coupons attached, and are Of
fered for sale at % per cent Of their par value
and accrued interest from Jan. ], added, In cur
rency.
The back interest Is charged at six per cent
in currency though repaid In full in gold. A
this time they yield nearly
NINE PER CENT. UPON THE WVES7
NEST.
These bonds bid fair TO attain the most 2roii9
inent position among the non IN ~ ss,iveI,
vestments Of the country, and VII v
dealt In AZ the raspSy-eeBtTes IN Europe -
Holdsrs Of Government securiiies E Ass ~ n
portuuity of exchanging them ior - 49,,
cifc Bonds bearing ~ eq e5 snd Of
With the principal well seenr""' ID" VI
pP,ITzIyG A PROFIT or TEN TO FIF
TEEN PER CENT IN ADDITION.
Orders sent with the funds through respousI
be Banks or Express Companies VIII reeeiv
prompt attention Bonds ssnt by return Ia
pres 20 any address in the United States, a
our cost Infofy alton, Descriptive pamphlets
Maps, &e-, furnished On application al the OfIic
Of the Railroad Company. No. - william
street, and Of
FISK Il HATCH,
\ Bankers and Dealers in Government Seeurftie
and Financial Agents Of the G. p 4. X. Co.
ja24 No Nassau street, New York