The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-12-23
PRINCIPAL & Interest in Gold Coin.
Central Pacific Railroad First
Mortgage Bonds.

Central Pacific Railroad First
Mortgage Bonds.
It is commonly known that tho General Gov.
ernment for wise purposes, has given its AID
and encouragement TO the construction OF one
MAIN THROUGH LINE OF RAILROAD from the Pa
ciic Ocean across the Territories 10 connect
with the various Eastern branches of the Pa
cifo Railroad system, and which will form the
GRAND TRUNK ROUTE to the Far West,
upon which the mighty trans-continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
are carrying it forward with
greater energy and persistence than was ever
shown in any siRIilar work in ancient or modern
builn, 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 rs 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.
rtories, gift Of Il, 800 acres OF the public lands
per mile contiguous 20 this line, and en- appro-
priation from the National credit of sixty MIL
LIONS in PER cENT; BONDS, delivered as the
work progresses; or half the estimated cost OF
the Through Line and Branches. These Sub
sidy bonds the company may cancel in q 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 TO tho corporations.
The Act further authorizes them 10 issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, tohieh
shall be the first claim upon e tchoLc railroad prop
erty, aud TO I0hieh the lien Of the Government ShGk
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 RAILEOAD is there
fore in an important sense, a SENI.NATIoNAL
WORK aided and commended by the people, the
Legislative power, and the Executive officers,
though its management is administered ttiub al
the care aud oTethOug Of the most eminent pirate
corpordtiOnS Being under the constant super
vision of the GOvernment-who, being the 1rin'
cipal creditor, accepts a subordinate and contin.
gent lien-with so large an amount of addition.
al capital also invested in the property pledged
ii Is believed that no securities now offered in
the market possess the sane claims to conf.
dence and market value, except those of the
Government.
Under these favoring auspices very gratifying
prasrass has baaIa sSTr,Iig aifirUtd
track from both directions. Nearly 1000 miles
of the Main Line and conveTging 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 steadlIy 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 tlh Cali
fOrnia line. Having overcome by far the most
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 ths
CENTRAL PA IFIC RAILROAD Is the remarkably
large and profitable Local Business which il de
velOped upon the completed portion, more than
iustifying the estimates of its pIOjeCtOrs-thai
the immense traffic between the ports of Cali
fOrnia and the mining regions of the inter OF
would sustain tirst-class railroad line, even
the overland connections were not built. The
net profit upon operating the link of loss than
one hundred miles, thus Tar, reaches nearly two
millions in gold; and this ratio will be doubled
during the coming season, when tho entire
mountain 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 centered upon the CENTRAL RoAD, tho gen
eral prosperity Of tho company will be without
parallel, and its securities appreciated cores
The CENTRAL PACIFIC RAILBeAI
COMPANY offer for sale theirFIkST MORTGAGE
SIX PER CENT. GOLD
B o n DIS, and submit TO Investors TIE
al, L.
tons; and invite the comparison with themerits
and excellencies of any class Of Corporate Sc
curties:
1. These Bonds are based upon the most vital
and valuable part of the Grand National Pacific
soon to become the main channel OF
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 now
built, and the remainder will DO rapidly carrie
forward over the Salt Lake Plains
". The greatest part of the means necessary
to build the road is provided by the U. ). Gov.
upon a subordinate lien.
V. The State and chief cities of California
have contributed upward Of 100000 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 gol d
and silver-producing regions, and its revenues
are received in coin.
VIII. The management Of this company has
bSen in the highest degree prudent and frugal,
and the whole surplus, after payment OF expense
and interest, is devoted to construction purpo.
ses.
TX. The interest liabilities Of the company
are even now less than a third the net earnings
upon the road pledged.
X. Both Principal and In,ereR are pdyaBk 10
Gold, under special provisions Of both NationA
and State enactment.
The bonds are in sums OF 1900 each, with
semi annual gold coupons attached and are Of.
fered for sale at IS per cent Of their par value.
and accrued interest from Jan. !, added, in cur.
rency.
The back interest is charged at six cent
in currency though repaid in full in gid. A
this time they yield nearly
VINE PER GEM. UPON THE INVEST.
AEHT
These bonds bid fair 20 attain the most prom
nent position among the nOn-speculativs in
sestments Of the country, and viii be astively
iealt in atthe msnsy-ceDtres in Europe
Holders OF Government securities have an op-
portunity OF exchanging them for Central Pa
,ihc Bonds bearing an equal rate Of interest
With the principal well secured and Of
REALIZING A PROFIT OF Ten TO ZIP
TEEN PER CENT IN ADDITION