The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-08-01

Central Pacific Railroad First
Mortgage Ronds.
1t Is commonly known that the General Gov
ernmsnt for wise purposes, has given It's nj,
and encouragement TO the construction of on,
MAIN THROUGH LINE OF RAILROAD from the Pa
eihc Ocean across the Territories 20 conaec
with the various Eastern Branshes of the Pa
eidc Railroad system, and which win form tn
upon which the mighty transcontinental tram,
win concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-who are carrying it forward Will
greater energy and persistence than was eyei
shown In any sip,ilar work In ancient or modern
times-wn 19Ea s9uiR, own and central the
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 L. sOO acres OF the public land
per mile, contiguous 10 this line, and Gn appro
priation from the National credit of sixty Mi.
LIONS in PER CENT. BONDS, delivered ~ the
work progresses; OF half the estimated cost o
the Through Line and Branches. These Sub
sidy bonds the company may cancel in q csurse
of years by tho Transportation services of the
Roads, and small per centagc of their net earn
ings; they, therefore, consulate an element OF
great strength TO the corporations.
The Act further authorizes them 10 issue al
equal amount of their own First Mortgage
Bonds of corresponding denominations, irhiel
shall be the first odim upon the schole railroad prop
eTty and 20 IclicA tie lien Of The Government Shat
be subordinate, as means OF more readily socur
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 SENl. NATIONAL
WORK, aided and commended by the people, the
Legislative power, and the Executive officers
though its management Is administered toih al
he care aud Jorethogh u the most eminent prirdt'
corporations. Being under the constant super
viDion OF the Government-who, being tho 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 10 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 converging Branches be
tween the Missouri River end the base OF tbs
Rocky Mountains have been built within tire,
years. Tho CENTRAL PACIFIC RAILROAD has
also steadily and successfully carried the Main
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 wbol'
line, the probabilities OF the through connection
with the Eastern lines being effected In is1'
amount almost to certainty.
The prominent feature In the progress Of Oh,
CENTRAL PA ITIc RAILROAD Ia the remarkably
largo and profitable Local Business which IL de
veloped upoh the completed portion, morn thai
iustifying the estimates of It's pIojectOrs-that
the immense traffic between the ports Of Cali
fornia and the mining regions Of the int,t 81
would sustain q firstclAss railroad line, even }
the overland connections were not built. Tn
net profit upon operating the link Of less thai
one hundred miles, thus far, reashes nearly tw,
millions in gold: and this ratio will he doubles
during the coming season, when the entir'
mountain transit Il made b. the locomotive
With every extension of the track, the bushes -
and profits 81 the completed part arc increased
30 that when the overland through truic shai
I've centored upon the CENTRAL RoAD. tho gen
eral prosperity Of the company will he witlIou
parallel, and its securities appreciated cores
pondingly. The CENTRAL Pacific RArLRaAi
COMPANY offer for sale theirFI tST MORTGAGE
THIRTY YEAR SIX PER CENT. COLL
BOZ IS, and submit 70 Investors ~
following, among other obvious consi'lera
tiOns; and invite the comparison with the merit
and excellencies OF any class OF Corporate NJ
euTities:
I. These Bonds are based upon the most vita
and valuable part OF the Grand National Paeif
Railroad. sOOn TO become the main channel o
communication Oh the continent.
II. The local settlement and business Their Q
from IL remarkably large and profitable, an
must constantly increase.
III. The hardest part Of the road IL nov
bailt, and the remainder will be rapidly carrie
forward ever the Salt Lake Plains.
". Tho greatest part Of the means nsceasar,
IN build the road Ia provided by the U. s. Gov
| eminent upon o subordinate lien.
V. The State and chief cities Of Caiiforni
have contributed upward Of e3,OOO,Oo 10 IN
enterprise without Len. ....
vi. Tie grant Of land IL destined at an earl
day TO prove Of far greater market value that
| the total Of the 6rst mortgage bonds iAsue
upon the road and squipInsnts-
VII. This road lies altogether among the gol'
and silver producing regions, and its revenue
are received In coin.
VIII. The management Of this company h
/ been I'm the highest degree prudeut and fruga
and the whole surplus, after payment OF eIpen'
and interest, Is devoted 10 construction purp'
ses.
| are even now less than third the net esrIihl
upon the road pledged.
Y. 10th Principal and Tnlerea ar, pdyaLk
God. under special provisions OF both Nation
and State enactment
The bonds are In sums Of tl00O each. vii
ssmi annual gold coupons attached, and are Q
fered for Aale at % per cent. OF their par VsIn
and accrued interest from Jan. !, aided In ca
lrency.
The hack interest IL charged at six per esr
In etyyeaey though repaid in fall Ia god.
this time they yield nearly
.r- rec.
yIyg PER CENT. UPON THE LyVgs
NgYT
These bonds bid fair 10 attain the most pro-
ineEt pOziti0n amSng the n0nspscuiatiye
vestmeats Of the country, and viii DO astiys
dealt in AZ the msney centres In Europe.
Holders Of Government securities have an Q
pOrtunity OF eKehaD ging thsIa for Central
ei6e BOnds bearing an equal rate 81 isisTe
with the principal wen seeHrnd, and Of
REALIZING A PROFIT OF TEN TO III
TgEy PER CENT ~ ADDITION.
Orders sent with the funds through respon
kie Parks or Express Companies viii reoes
pxaf,Ha alpt BY rFturu y