The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-08-12

. 1t Is commonly known that the General Gov.
ernmOnt, for wise purposes, has given Its aid
and encouragement TO the construction of one
MAIN THROUGH LINE or RAILROAD from the Pa.
ciic Ocean across tho Territories 70 connect
with the various Eastern Branshes of the Pa.
cifc Railroad system, and which will form the
upon which the mighty traRs-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
times-will build, 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 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 tho Ter.
gift of IL 500 acres OF the public lands
per mile, contiguous to this line, and en- appro.
priation from the National credit Of Sixty NIL
LIONS in 6 PER CENT. BONDS, delivered "a the
work progresses; or half the estimated cost Of
the Through Line and Branches. These Sub
sidy bonds the company may cancel in q caurse
Of years by the Transportation services Of the
ings they, therefore, constitute an element OF
great strength 10 the corporations.
The Act further authorizes them 10 issue an
equal amount of their own First Mortgage
Bonds Of corresponding denominations, Iohieh
shall be the first claim upon The lnhOe railroad prop
erty, aud % ichich the lien Of the Government shall
be subordinate, as n means Of more readily secur.
ing the remaining half Of the capital for the con
aaWN0.a a.I.l
out Of the capital stock subscriptions and Othor
sources
The great CENTRAL Pacific RAILROAD IL there
fore, In an important sense, q SEM. NATIONAL
WORK, aided and commended by the people. the
power, and the Executive officers,
though its management Ia Administered ieih al
the care and Joreough ~ The most eminent prirdtc
corporations Being under the constant super
viDion Of the Govornment-whO, being the prin.
cipal creditor, accepts q 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 conf.
dence aud 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 c0nyerging Branches he.
tween the Missouri River and the base of the
Rocky Mountains have been built within three
years. Tho CENTRAL PACIFIC RAILROAD has
also steadiIJ and successfully carried the Main
Stem Line from the steamboat navigation Of the
Pacific to the summit of the Sierra Nevada, aud
into the Great Salt Lake Basin east Of the Cali
fornia line II. ne overcome by far the most
difficult and exp snsvo portion Of the whole
line, the probabilities of the through connection
with the Eastern lines being effected in IS70
amount almost 10 certainty.
The prominent feature in the progress Of the
CENTRAL PA iFIC RAILROAD IL the remarkably
large and profitable Local Business which IL de-.
velOped upon the completed portion more than
iustifying the estimates Of its pIojectOrs-that
the immense traffic between the ports OF Cali
fOrnia and the mining regions Of the int'I 81
would sustain n frstclaSs railroad line, oven 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 be doubled
during tho coming season, when the entire
mountain transit Is made by tho locomotive
With every extension Of the track the business
and profits of the completed part are increased
80 that when the overland through traffic shal
be conferred upon the CENTRAL ROAD, the gen
eral prosperity Of tho company will be without
parallel, and Its securities appreciated CORES
p0ndingly. The CENTRAL PACIFIC RAlLReAI
coMPASY offer for sale theirFIkST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
u d. ana submit 10 in'eseors "a, ..a'
!Sllo"Ing' anon JILL ,.I,b ,pn ,'"r;,,
and eIcellencies Of any class OF Corporate 10
eurities:
]. These Bonds are bascd upon the most vita
and valuable part Of the Grand National Pacin'
4 -
communication on the continent.
III. The local settlement and business Their e
from is remarkably large and profitable, an
must constantly increase.
TIT Tho hardast mart Of the road is nov
hniit and the remainder will be rapidly carrie
forward ever the Salt Lake Plains.
~ Tho yrea,s., mart of the mean. nocnssar,
IN build the road IA provided by the L. $. Gov
eminent unon subordinate lien
V. The State and chief cities OF California
enterprise without lien.
VI. The grant Of land IL destined at an early
upon the road and equipments.
I'D .tivar nr IS rsSisns and ia reyeaue
vi 49,, ny b,nhs., Sa,,rse ~ n-ndsrt snS frnga
- III y, 70 ne, ,,a,nsnt M exprnS
al in,.,.st 1. $1,000 20 sop.tTuction uurp.
s anu H''0'0''' -
"S''
TX. The interest liabilities Of the eompan
are even now less than q third the net earning
x: Both Principal and intsre,t are Psys ,ISn,
-, .,ooo .,,h vi,
ana accrued interest from Jan. I, adaed, In Gu
Tency.
&. .h.r-.S =. -, ,.- e.u
| Inc bac. .bs.,,ns ,.nsid H. fail In Sod
ID ID e'f,Ieises 1919 .sgid rsirJr
TINS tilno 'H'1 ''''" '
|