The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-04-16
Central Pacific Railroad First
Mortgage Bonds.

Central Pacific Railroad First
Mortgage Bonds.
1t is commonly known that the General Gov:
eminent for wise purposes, has given its Aid
and encouragement to the construction oil one
MAIN THROUGH LINE or RAILROAD from the Pa
cifc Ocean across the Territories % connect
with the various Eastern branches OF the Pa
cifc Railroad system, and which win form the
GRAND TRUNK ROUTE 70 the Far West,
upon which the mighty traRs'continentAl traffic
win concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-who are carrying IL forward with
greater energy and persistence than was ever
shown in any siPilar work in ancient OF modern
times-will builn, 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
nent.
The Act Of Congress coufers upon the Corpo-
| ratiOns besides the right of way across the Ter
ritOries, gift Of - 800 acres Of the public lands
per mule, W NAls AAutt anu al alRAb
| priation from the National credit ofSIXTY MI
| LIONS in 6 FIR CENT. BoSDs, delivered a. the
work progresses; or half tho estimated cost Of
| the Through Line and Branches. These Sub
sidy bonds the company may cancel In csurst
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 TO issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, tnhieA
shall be the first claim upon he IphotS railroad prop
erty aud 20 Iehich he llcn Of he Government shall
b. subordinate, as q 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 is there
| fore in an important sense, a SEnNAIloNAl
| WORK aided and commended by the people the
| Legislative power, and the Executive offioers
| though its management Is administered tcth al
the care and JorethOu1h u The most eHiHeEt pTlrdt'
eorpOTdtiOnS BEING under the constant super
vision Of the GoverLment-Who being the prin'
| cipal creditor, accepts 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 In
the market possess the sane claims 70 CONT
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 cSnvergiug Branches be
/ tween tho Missouri River and the base Of tho
/ Reckv Mountains have been built within thTe'
years The CENTRAL PACIFIC RAILROAD hai
also steadily and successfully carried tho hatI
| Stem Line from the steamboat navigation Of th'
| Pacific TO the summit Of the Sierra Nevada, ant
into the Great Salt Lake Basin east Of the Cali
| fornia line. Having overcome by far the mos
| difficult and expensive portion Of the whole
! line. the probabilities Of the through connection
with the Eastern lines being effected In isIi
amount almost 10 certainty.
The prominent feature IN the progress Of th'
| CENTRAL Pacific RAILROAD Is the remarkably
| large and profitable Local Business which IL de
| veloped upon the completed portion, more thar
| justifying the estimates Of its PROFESSIONALISM
| the immense traffic between the ports Of Cali
| fornia and the mining regions OF the tntrt OF
would sustain frst-class railroad line, even u
| the overland connections were not built. The
net profit upon operating the link Of less thar
| one hundred miles thus far, reaches nearly two
IN illions in gold; and this ratio will be doubled
| during the coming season, when the enttr'
mOuntaiH transit IL made by the locomotive
! With every extension Of the track, tho business
and profits Of the completed part are increased
No that when the overland through traffic shal
! be conferred upon the CENTRAL ROAD, the gen
eral prosperity Of the company will be without
parallel, and its securities appreciated CORES
! pondingly. The CENTRAL PACIFIC RAlLRoAI
! COMPANY offer for sale theirFI hST MORTG AGE
| THIRTY.YEAR SIX PER CENT. COLL
IBONDS, and submit 20 Investors tS'
following, among other obvious considora
! tions: and invite the comparison with the merit
and excellencies Of any class Of Corporate ~
Gurities:
! l. These Bonds are based upon the most vita
and valuable part Of the Grand National Paeib'
Railroad soon 10 become the main channel o
| communication on the continent.
/ II. The local settlement and business there
from Is remarkably large and profitable, am
must constantly increase.
! III. The hardest part Of the road IL nov
built aud the remainder will be rapidly carries
forward ever the Salt Lake Pains.
". The greatest part Of the means necss4aT,
10 build the road il provided by the T. S. Gov
eminent upon a subordinate lien.
V. The State aud chief cities Of CaliforRi
have contributed upward Of g OO,oJJ 20 tn
enterprise without lien.
/ VI. The grant Of land is destiRed al an earl
day ~ prove Of far greater market value thA
the total Of the first mortgage bonds issue
upon the road and equipments.
VII. This road lies altogether among the COL
and silverproducing regions, and its revenue
are received in coin.
VIII. The management Of this company Ia
been in the hiEhest degree prudent and fruEA
and the whole surplus after payment OF eEpens
and interest, l. devoted 70 construction Purp'
ses.
. TX. The interest liabilities Of the e0mpaB
are eyeHnoW les than a third ths net earning
upon the road pledged
X. Both Prineipal and Tntersst are Dayobd
Gold, under special provisions Of both Nstioni
and State enactment.
The bonds are in sums Of 5000 each, Wit
semi-aunual gold coupons attached, and are
fered for sale 81 IS per cent Of then par VAIN
and accrued interest from Jan. J. added IN Gu
rsncy.
The hack interest "a charged II AZ per cen
in currency, though repaid in full In gOid. A
this time they yield nearly
NINE PER CENT UPOy THE TSTKs
AEgT
These bonds bid fair 20 attain the most pro-
: fneut position among the BonTPeculztivs
. vestments Of the country, and VIII Be astiye
dealt IN At the msBey-ceBtres IN Europe.
Holders Of Government securities have an
e pOrtuuity Of exchanging them for Central
. cihe BOnds bearing a. equal Tats Of intere
. With the principal vel secured, ahdOf
REALIZING 4 PROFIT or EEg TO "a
TEEN PEE CEST IN ADDITION.