The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-04-28
Central Pacific Railroad First
Mortgage Bonds

MOFls9Se oOnOS.N
Il is commonly known that the Geneal Gov.
eminent, for wise purposes, has given its aid
and encouragement 10 the construction OF one
MAIN THROUGH LINE or RAILROAD from the Pa
citic Ocean across the Territories 20 connect
with the various Eastern Branshes Of the Pa
cifc Railroad system, and which will form the
GRAND TRUNK ROUTE 10 the Far West,
upon which the mighty transcOutinental traffic
will concentrate.
The CENTRAL, PACIFIC RAILROAD
COMPANN-who arr carrying il forward with
greater energy and persistence than was ever
shown in any sipNilar work in ancient or modern
times-will bull, equip, own and control the
Western half Of this Through Line. the most
productive. favored, aud valuable portion OF the
whole, and may Justly be regarded As possessing
the richest franchise ever granted on this CONT
uent.
The Act of Congress conCers Epon the Corpo-
rations, besides the II ght of way across the Ter
ritories gift of ~ $40 acres OF the public lands
per mile contiguous TO this line, and en- appro-
priation from the National credit OF sixty NIL
LIONS in 6 PR CENT. BoNDs, delivered "a the
work progresses; or half the estimated cost Of
the Through Line ana branches hcse SuD-
sidy bonds the company may cancel in a course
of years by the transportation services OF the
Roads and a small per centage Of their net earn
ings; they, therefore, consulate an element OF
great strength 10 the corporations.
The Act further authorizes them 10 Issue an
equal amount Of their own First Mortgage
Bonds of corresponding denominations, 'chieh
shall be the first claim upon the IUh0Ie railroad prop.
sytg. aud % Iuhich the lien Of he Government SHAH
Dc subordinate as a means OF more readily secur.
ing the remaining half of the capital for the con
struetiOn; the equipments, &c, being provided
ont Of the capital stock subscriptions and other
sources.
The great CENTRAL PACIFIC RAILROAD is there
fore. in an important sense, n SENu'NAIioNAL
WORK aided and commended by the people, the
Legislative power, and the Executive officers,
though its management is administered uih az
the care and torsthOtghi o. The most eaneat pirate
ooTpOrGtORs.' Being under the constant super
yibiOn of the GOyernment-who, being the prtn'
cipal creditor accepts q subordinate and contin-
gent lien-with 80 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 san claims 10 conn.
dence and market value, except those Of the
Government.
Under these favoring auspices very gratifying
prucress has been made in extending the railroad
track from both directions Nearly 1000 miles
of the Main Line and canvergiug Branches be-
tween the Missouri River and the base Of the
Rackv 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 20 the summit Of the Sierra Nevada, aud
into the Great Salt Lake Basin east OF the Cali
furnia line Having ovsrenm@ by tsT the mos
liinCult and expensive portion OF the whole
line, the probabilities Of the through connection
with the Eastern lines being effected in l-iO
amount almost TO certainty.
The prominent feature in the progress of the
CENTRAL PACIFIC RAILROAD Is the remarkably
large aud profitable Local Business which IL de
velOped upon the completed portion, more than
justifying the estimates of its pTojectors-that
the immense traffic between the ports Of Cali
fOrnia and the mining regions OF the int'i OF
would sustain q hrst-class railroad line oven II
the overland connections wcro 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
mountaiR transit Is made by the locomotive.
With every extension of the track the business
and profits of the completed part are increased;
80 that when the overland through traffic shall
be conferred upon the CENTRAL ROAD, the gen.
cral prosperity OF the company will be without
parallel and its securities appreciated CORES
pOndingly. The CENTRAL PACIFIC RNLRsAn
COMPANY offer for sale thcirFlhSI MORTGAGES
THIRTY.YEAR SIX PER CENT. GOLD
BONDS, and submit 10 Investors TIE
following. among other obvious cOnsidera
tons; and invite the comparison with the merits
and exCcllcncies Of any class Of Corporate sc
surities;
I. These Bonds are based upon tho most vital
Ia ~ Of Grand National Pacific
Railroad. soon TO become the main channel OF
communication on the continent.
III. The local settlement and business there
from is remarkably large and profitable, and
must constantly increase.
III. The hardest part Of the road Il nov
built. and the remainder will be rapidly carried
forward over the Salt Lake Plains
". The greatest part Of the means necessary
70 build the road II provided hy the y. 5. Gov
eminent upon a subordinate lien.
! V. The State and chief cities Of Californi.
have contributed upward Of S3OO0,OU % th'
enterprise without lien.
! VI. The grant Of land 10 destined at an early
/ day TO prove Of far greater market value thar
/ the total Of the first mortgage bonds issue
/ upon the road and equipments.
and silver.pTOducing regions, and its revenues
are received In coin.
! VIII. The management Of this company la
been In the highest degree prudent and frugal
and the whole surplus, after payment Of eTPens
and interest Is devoted TO construction purpo
| SEES
TX. The interest liabilities Of the COMPANY
are even now less than q third the net earning
upon the road pledged.
\. Both Principal and Tnt,TeH ar, pdydblS Il
Gold, under special provisions Of both Nations
and state enactment
The bonds are in sums Of 1900 each, wit
semiaunuAl gold coupons attached, and are Of
fered for sale al o. per cent. Of their par value
and accrued interest from Jan. !, added, In col
reney.
The back interest is charged At iI per cent
In currency, though repaid In fan In gold. 4
this time they yield nearly
EryE PER CENT UPOy TTE TYTESi
NEST.
Th.se bonds I'D fair to attain the most ?TGr
inent position among the non-speculative i
/. yestmeuts Of the country, and win Be aatiyel
dealt In At the msDey-ceDtrvs in Europe.
Holders Of Government securities have an Q
, portunity Of exchanging them for Central p
J cfRc Bonds bearing an equal rate q inteTss
5 With the principal well secured, and Of
REALizlSG PROFIT OF TEN 10 ri
TBEY PER CENT IN ADDITION
Orders sent with the fuBds through resPon
Ma Ia ~ KrrTress ftnr4rsarf7es will recet