The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-03-10
Central Pacific RailrDad First
Mortgage Bonds.

Central Pacific RailrOnd First
Mortgage Bonds.
Ii ia commonly known that the General Gov
eminent, for wise purposes, has given its aid
and encouragement 20 the construction OF one
MAIN THROUGH LINE or RAILROAD IRON the Ia
cific Ocean across the Territories 70 connect
with the various Eastern Branshes OF the IA
cific Railroad system, and which viii form the
GRAND TRUNK ROUTE to the Far West,
upon which the mighty transcontinentai traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-whO are carrying IL forward With
greater energy and persistence than was ever
shown in any similar work in ancient or modern
times-will build, 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 confers 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 an appro-
priation from the National credit of sixty NIL
LIONS in FER CKNT. BONDS, delivered ~ the
work progresses; or half the estimated cost Of
the Through Line and Branches. These Sub
sidy bonds the cOmpsny may cancel in a course
Of years by tho Transportation services OF the
Roads, and small per centage Of their net earn,
ings; they, therefore, constitute an element OF
great strength 10 the corporations.
The Act further authorizes them 70 issue an
equal amount of their own First Mortgage
Bonds Of corresponding denominations, trhaoh
shall be The first cLdiDl upon the bcole Tdilrpdd prop
ertv and % schic the lea Of The Government shdH
be Subordinate, as means OF more readily secur.
ing the remaining half Of the capital for the con.
stTustiOn; 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 SEArNAiioNAL
Work, aided and commended by the people, tie
Legislative power, and the Executive oiiieers-
though its management is administered ibih al
The care aud CoretkOught Of Ne most eminent prirdtc
corporations Being under the constant super
viuion Of the Government-whO, being the pr1n'
cipal creditor, accepts subordinate and c0ntin-
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 Sam claims tn CONT
dence and market value, except those OF tie
Government.
Under these favOring auspices very gratifying
progress has been made IN extending the tniiFnld
track from both directions. Nearly 1000 milos
of the Main Line and eOnverging 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
1 tl.a tanf phnat nayirntinu 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 the 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 do.
velOped upon the completed portion, more than
iustifying the estimates of It's pGoiectOrs-that
the immense traffic between the ports Of Cali
fornia and the mining regions Of tue int'I or
would sustain frst.class railroad limo, even II
the overland connections were not buOt The
net profit upon operating the link OF loss than
one hundred miles, thus far, reaches nearly two
millions in gOld and this ratio will be doubled
during tho 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;
40 that when the overland through traffic shall
be conferred upon the CENTRAL ROAD, the gen.
eral prosperity of the company will be without
parallel, and It's securities appreciated cOrrcs.
pondingly The CENTRAL PAuHc RAILReAD
COMPANY offer for sale theirFIhST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
BONDS, and submit to Investors tie
following, among other obvious consideTa-
tiOns; and invite the comparison with tho merits
and exeellenoies Of any class OF Corporate Sc
curities
]. These Bends are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad. soon 10 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 nov
built and the remainder will be rapidly carried
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
te build tho road is provided by the U. 5. Gov
eminent upon a subordinate lien.
V. Ike State and chief cities Of California
have contributed upward Of 5.OOO-OJO 20 tia
enterprise without lien.
VI. The grant Of land Is destiaed at an carly
day 20 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 silyerProducing regions, and its reVenue'
are received in coin.
VIII. The management Of thia company la,
been in the highest degree prudent and frugal
and the whole surplus. after payment Of eIpenS'
and interest is devoted 10 construction Purpo
ses.
TX. The interest liabilities Of the company
are even now less than third the net earning
upon the road pledged.
X. Both Principal and IHtsrest are paya5k Il
God, under special provisions Of both NGtsOna
and State enactment.
The bonds are in sums Of 5000 each. viii
semiAnnuAl gold coupons attached, and are OF
fered for sale At IS per cont Of their par value
and accrued interest from Jan. ], added N cur
rency.
The back interest n charged az ak per cent
IN currency. though repaid IN fall 10 god. A
this time they yield nearly
YIyE PER CENT UPOY THE INVEST
MEYT.
! These b0uds bid fair 70 attain the most prom
/ inent position among the nOnEpecnlatiVe IN
vestments Of the country, and Will be astiyel
/ dealt In at the msnsy-centres tn Europe.
! Holders Of Government securities have 40 81
portuHity OF exchanging them for Central IA
cifc Bonds bearing an equzl rate Of Interest
with the principal wen secured, and Of
REALIZING 4 PROFIT or TEN 10 III
TEEN PER CENT ~ ADDITION
Orders sent with the funds through respoDs
bic Banks or Express Companies win receiy
| prompt attention BOnds ssHt By nrturn -
/ "a ~THraa4 an fa Hated sfarsa 4