The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-04-06

Central Pacific Railroad First
Mortgage Bonds.
It is commonly known that the General Gov
ernmauJ for wise purposes, has given its al
aud encouragement % tho construction OF on'
SL,IN THROUGH LINE or RAILROAD from the Pa
zinc tcean across the Territories 90 conHSc
with the varions Eastern branshrs OF tue Pa
,itc Raj r,jad system, and which viii form tht
GRAND TRUNK ROUr TIE 20 the Far West
upon which the mighty trsns'cOntinental trAih'
wall concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANIONS are carry ing il forward with
gre ter energy and persistence than WAS evei
shown j. any siIriar work In ancient or modern
tIuie--wili b'j''t equip, own and contuf the
Western Half Of this Thr'ugh Line. the m0sI
praduct.ve, LAvOr,-d, and valuable portion ni 4
whole. ami may Justly he regard, a, Possessing
the richest franchise ever granted on this CONT
nvnt.
The Act Of Congress confers upon the CorpO-
raiiuns b,sides the light al WAY aCrOss the Ter
ri urtrs, n gift uf L., SUI acres the pablo lands
per mile contiguous 10 this line and cu AppTo
priatiun trrm the National credit OF sixty NIL
lions in FRR Can't. EONps, de ivered A. the
work prog rs.,s, OF half the estisOated cost O
the hrpugh Liue aud BrAnch-s. lhes- Su6
silly bonds the compsny may cancel in 4 ecu ~
of Years 10y the IrRnsPor alton services OF the
Roads ami small per centage of their net arr
ingS; they, therefore, constitute An element Of
great strength 20 the corporations,
The Act further authorizes them 10 issue an
equal amount Of their own first Mortgage
Bonds Of corresponding denominations, tchieA
shall be the first claim upon the brhOs railroad prop
eTty and 10 Irhieh the heA Of the Government shdL
be subordinate, as a means Of more readily secur
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 il there
fore, in AN important sense, = SEMI NATIONAL
WORK. aided and commended by the people, the
eglsative POW CT, and the Executive Othcers
though it, management IL ddHtnLsteTed tth az
he care aud JoretkOUght QT The mot eminent PTIrdtt
corporations. Being under the constant super
yi5ion Of the GoveTnment-who. being the prin
cipal creditor. accrpts subordinate and contin
gent lien-With 50 large An amount Of addition
al capital also invested Ia the property pledged
il Is believed that no securities now offered IN
the market possess the san . claims TO cont
drnce and market value, except those Of the
Government
Under these fAvOring auspices very gratifying
proCrrss has been made in extending the railf DAD
track from both directions Nearly 1000 m,lrs
Of the Main Line and csnvergiug Branches be-
tween The Missouri River and the base Of the
Rocky Mountains have been built within three
years The CENTRAL Pacific RAILROAD has
slsn steadily and successfully carried the haiu
stem inc from tho steamboat navigation OF the
Pacific 10 the summit Of the Sierra Nevada, ant
into he Great salt Lake BASIN east Of the Cali
fornia line. Having overcome by far the mOs
difficult and expensive portion Of the wb0I'
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 II dc
veloprd upon the completed portion, more thar
Justify ing the estimates Of its professionalism
the immense traffic betw' en- the ports Of Call
fornia and the mining regions Of the int OF
would sustain a hrst-class railroad line, even II
the overland connections were not built The
net profit upon operating the INK OF less thtn
one hundred miles thus Tar, reaches nearly two
IN Hons in gold. and this ratio viii be- doubled
curing the coming season, when the entire
mounLIia transit i made by the locomotive
With every extension If the track the business
aud profits Of the mplcied p1rt are Increased
~ that when the overland through tratho shall
he conferred upon the CENTRAL Roam, the gen
eral prusprTity Of the company will be without
parallel and its seCuTities appreciated CORES
pundiugly. The CENTRAL PACIFIC RAiLR"Ar
GONpANY offer for sale th,irFilNST MOkTB AGF
THIRTY.YEAR SIX PER CENT. Coz y
BINDS, and submit Ia Investors e.,
following, among other obvious conSid"ra
and exc'lIeBcits Of any class Of Corporate -
gurities;
]. These Bonds arr based upon the most vital
and val abr part uf tho Grand National Pacific
Railroad. soon 10 become he main channel OF
communication on the continent.
IT. Tho 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 lie rapidly Carried
forward over the salt Lake Plains
", The greatest part ofthe means necessary
20 build the rOaIl Il provided hy the U. ). Gov
eminent upon 4 subordinate lien.
V. TIE State and chief cities Of California
have contributed upward Of SJ.0O.OOJ "a th'
enterprise without lien.
VI The g1ant Of land IL destined Ut IN early
day to prove Of FAR greater market value that
the total Of tue hrst mortgage bondS bsuec
upOl the road and equipments.
VII This road lee altogether among the golt
and slverprdutinZ regions and its revenues
ARE received in eOin.
VIII. Tho management 81 this company ha
been in tho highest drEreo prudent and frugal
and the whole surplus. after payment OF eTpenAi
and interest, Is devoted 10 construction purpo
sf-
TX. The Interes; liabilities Of the COMPANY
are even now less than third the net earning
upon the road pledged.
L. Both Principal aud TAfereR srs payable 4
God, under special provisions Of both kAtionS
and state enactment.
The bonds are 70 sums OF tiUD each, VII
seIni-annual gold coupons attached, and are 81
Cerei for sale Al % per cent Of tbFtr par value
and accrued interest from Jan. !, aaSsd. IN cur
rency.
The back interest IL charged At siI PER cent
| IN currency. though repaid IN fuu In pOid.
this tins they yield nearly
NINE PER GENT UPoy THE TyTES1
MEM.
| Thess bonds bid fair 20 Ettain the Meet SrUu
/ inent position amOag the BOnSPeculative n
vestmenfs Of the country, and viii be astiyel
dealt IN at the msnsy -ccntTss IN Europe.
Holden Of Government securities have an OI
I pOrtunity Of exchanging them for Central ri
cihr Bonds bearing equal rA.s Of intsres
With the priaeiPaI we'd secured, and u
REALIZING 4 PROFIT or zEg TO IN