The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-02-21
Central Pacific Railroad First
Mortgage Bonds.

Mortgage Bonds.
II is commonly known that the General Gov:
ernmont for wise purposes, has given Its AID
and announcement to the construction of one
MAIN THROUGH LINE OF RAILROAD from the Pa
eitic Ocean across the Territories 70 connect
with the various Eastern branches OF the Pa
cific Railroad system, and which win form the
GRAND TRUNK ROUTE to the Far West,
upon which the mighty trans-continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
CONTAINING are carrying Ii forward with
greater energy and persistence than was ever
shown in any similar work in ancient or modern
tnesw build Sau own and ir control tSs m tns
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 II 800 acres Of the public lands
per mile contiguous to this line, and an appro.
priation from the National credit Of sixty NIL
LIONS in PER CENT. BONDS, delivered as the
work progresses; OF half the estimated cost Of
the Through Line and Branches. These Sub
sidy bonds the company may cancel in course
of wears by the Transportation services of the
Roads, and q small per centage Of their net earn.
ings; they, therefore, constitute an element oil
great strength 10 the corporations.
The Act further authorizes them TO issue an
euual amount of their own First Mortgage
Bonds of corresponding denominations, '7h'eh
shall be the first claim upon The irhOLe railroad prop.
erty and % lohich the lien Of the Government shat
be subordinate, as q means OF more readily secur'
ing the remaining half of the capital for the con.
struction; 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, SEM NATIONAL
WORK, aided and commended by the people, the
Legislative power, and the Executive officers,
though its management IL administered l6ih all
the care and tOreth0uJht Of the most eminent pT1rdte
corporations. Being under the constant super
vision of the GOvernment-who being the prin'
cipal creditor accepts n 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 III
the market possess the sane claims TO conn
dence and market value, 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 conyerging branches be-
tween the Missouri River and the base OF the
Rocky Mountains have been built within three
years. The CENTRAL Pacific KAlLEoAD mas
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 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 de.
veloped upon the completed portion, more than
iustifying the estimates of its pIoiectOrs-that
the immense traffic between the ports OF Cali
fornia and the mining regions of the inter or
would sustain a firstClass railroad line even II
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 he doubled
during the coming season, when the entlre
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 trafho 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 theirFIkST MORTGAGES
THIRTY-YEAR SIX PER CENT. GOLD
BONDS, and submit to Investors tie
following, among other obvious cOnsldera
tons; and invite the comparison with the merits
and excellencies of any class of Corporate Sc
curities:
I. 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.
III. The local settlement and business there.
from Is remarkably large and profitable, aud
must constantly increase.
III. The hardest part Of the road is now
built, and the remainder will be rapidly carried
forward ever the Salt Lake Plains.
". The greatest part of the means necessary
TO build the road il provided by the o. 5. Gov
eminent upon a subordinate lien.
V. The State and chief cities Of California
have contributed upward Of S3OOOOOJ to the
enterprise without lien.
vi. The grant of land is destined at an early
day to prove of far greater market value than
the total Of the first mortgage bonds issued
upon the road and equipments.
VII. This road lies altogether among the gold
and silverproducing regions, and its revenues
are received in coin.
VIII. The management of this company has
heen In the highest degree prudent and frugal,
and the whole surplus, after payment OF expense
and interest, IL devoted TO construction purpo-
ses.
TX. The interest liabilities Of the company
are even now less than n third the net earnings
upon the road pledged.
X. Both Principal and Iniersd are payable IA
Gold, under special provisions of both National
and State enactment
The bonds are In sums of 5000 each, with
semi-annual gold coupons attached, and are Of
fered for sale at 95 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 At
this time they yield nearly
NINE PER CENT UPON THE INVEST.
MEyT
These bonds bid fair 10 attain the most prom
inent position among the nOn-sPeculattTe IN
yestments of the country, and will be actively
dealt in at the msney-centres in Europe
Holders OF Government securities have an op-
portunity of exchanging them for Central IA
cifc Bonds bearing an equal rate OF interest,
with the principal well secured, and OF
REaLIzIyG A PROFIT OF TEN TO FIJI.
TEEN PER CENT ~ ADDITION.
Orders sent with the funds through response.
HE Banks or Express Companies viii receive
nrompt attention Bonds ssnt By return FL.
IN tha til AZ