The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-06-02

Central Pacific Railroad First
MOrts age Bonds.
1t Is commonly known that the General Gov.
eminent for wise purposes. has given its aid
and encouragement TO 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
cifc Railroad system and which will form the
GRAND TRUNK ROUTE TO the Far West,
upon which the mighty trAns-continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-whO are carrying IL forward with
greater energy and persistence THAI was ever
shown IL any siVNilar work IN ancient or modern
times-will bui'u, equip, Own and coDtrol 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.
ritories GIFT Of IL so acres Of the public lands
per mile, contiguous 10 this line, and Tn appro-
priation from the National credit OF SIXTY MIL
LIONS in FER CENT. RoNDs, delivered n the
work progresses; or half the estimated cost of
the Through Line and Branches These Sub
of years by tho transportation services of the
Roads, and small per centage Of their net earn.
ings; they therefore, consulate an element OF
great strength 70 the corporations.
The Act further authorizes them 10 issue IN
equal amount of their own First Mortgage
Bonds of corresponding denominations, tshieA
shall be The first claim upon The l0hOts railroad prop
eTtu and 10 ichich ne hen 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
out of the capital stock subscriptions and other
sources.
The great CENTRAL PACIFIC RAILROAD is there
fore, in an important sense, q SENINATIoSAL
Work aided and commended by the people, the
Legislative pow er, and the Executive officers,
though its management Is administered Wtth al
the care and J0retiObJh Of The most eminent pirate
corporations. Being under the constant super
viOion Of the Government-whO, being the prin'
cipal creditor, accepts subordinate and COntin.
gent lien-with 20 large an amount 0f addition.
al capital also invested In the property pledged
IL is believed that no securities now offered In
the market possess the san claims a. conf.
d''nce and market value, except those OF the
Government
Under these favoring auspices very gratifying
progrrss has been mads in extending the railroad
track from both directions Nearly lOOO N leo
OF the Main Line and csuvergiug Branches be.
tween the Missouri River and the base Of tn
becky 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 Call.
difficult and expensive portion OF the whole
line, the probabilities Of the through connection
with tho Eastern lines being effected In 1870
amount almost to certainty.
The prominent feature In the progress Of the
CENTRAL PACIFIC RAILROAD IL the remarkably
large and profitable Local Business which Is dc.
velOped upoB the completed portion, more than
justifying the estimates Of IT. pToject0rs-that
che immense traffic between the ports Of Cali.
fornia and the mining regions Of the int or
would sustain q hrst-clase 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, when the entire
mountain transit Is made by the locomotive.
With every extension Of the track, the business
and profits Of the completed pHrt 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
BON s. and submit 70 Investors TIRE
following among other obvious considera-
lions; and invite the comparison with the merits
and excellencies Of any class Of Corporate %.
Gurities:
]. These Bonds are 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 IL now
built, and the remainder viii be rapidly carried
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
TO build the road Is provided BY the U. s. Gov
eminent upon q subordinate lien.
V. The State and chief cities Of California
have contributed upward Of s3OO0,OOO 10 the
enterprise without lien.
vi The grant OF land 10 destined at an early
day 70 prove OF far greater market value than
the total Of the frat mortgage bonus issued
upon the road and equipments.
VII. This road lies altogether among the gold
and silverprOducing regions, and Ia 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 20 construction purpo
ses.
TX. The interest liabilities Of the company
are even now less than third the net earnings
upVn the road pledged.
X. Both Principal and EnteTsSt are payable "
Gold, under special provisions Of both HationA
and state enactment.
The bonds are In sums Of 5000 each. with
serniannual gold coupons attached, and are Of