The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-08-28

1t is commonly known that the General Gov.
ernm0nt, for wise purposes, has given its aid
and encouragement 70 the construction of one
MAIN THROUGH LINE OF RAILROAD from the Pa.
cifc Ocean across the Territories 10 connect
with the various Eastern branshes Of the Pa,
citic Railroad system, and which will form the
GRAND TRUNK ROUTE TO the Far West,
upon which the mighty trans-oontinental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
are carrying IL forward with
greater energy and persistence than was ever
shown Ia any siVlilar work In ancient OF modern
tmes-wlll onin, 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 this cont.
nent
The Act of Congress confers upon the corpo-
rations, besides the right of way across the Ter.
ritOries, gift Of IL $40 acres Of the public lands
per mile, contiguous 10 this line, and Gu appro.
priation from the National credit Of sixty NIL
LIONS in o PER CENT. BONDS 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 q course
of years by the Transportation services of the
Roads, and small per centage Of their net earn
ings; they, therefore, constitute an element OF
great strength TO the corporations.
The Act further authorizes them 70 issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations tchiol
shall BE- the first claim upon the trhole railroad prop
erty, aud 10 irhich The den Of the Government shall
be subordinate, as q means Of more readily secur.
ing the remaining half of the capital for the con.
struction; tho equipments &C, being provided
out of the capital stock subscriptions and other
sources.
The great CENTRAL Pacific RAILROAD Ia there
fore, In an important sense, a SRMl NATIONAL
WORK aided and commended by the people, the
Legislative power and the Executive officers,
though it's management Is administered Wih al
the care and JOrSthOtgh Of The most eminent pirate
corporations. Being under the constant super
viOiOn of the Government-who, being the prin
cipal creditor, accepts subordinate and c0ntin
gent lien-with 80 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 TO conf
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 1910 miles
of the Main Line and cOnvergiug Branches be
tween the Missouri River and the base of thI
Rocky Mountains have been built within three
years. The CENTRAL PACIFIC RAILROAD has
also stcadny and successfully carried the MaiI
Stem Line from the steamboat navigation of the
Pacific to the summit of the Sierra Nevada, an'
into the Great Salt Lake Basin east of the Cali
iornia line Having overcome 10y far the mos
difficult and expensive portion OF the who'll
line, the probabilities of the through connection
l..s0. H.
amount almost TO certainty.
The prominent feature in tho progress of tn
CENTRAL PA IFTC RAILROAD Ia the rrmaIkabl,
Lar GO and profitable Local Business which II de
veOped upon the completed portion more thai
iustifying the estimates Of its pIOIeCtOrs-tha
the immense traffic between the ports Of Cal
fOrnia and the mining regions Of the int q
would sustain a hrstclass railroad line, even
the overland connections were not built. TIL
net profit upon operating the link Of less thai
one hundred miles, thus far, reaches nearly tw
millions in gold and this ratio will be doubles
during the coming season, when the entir
mountain transit Is made by the locomotive
With every extension of the track, the businos
and profits Of the completed part are increased
40 that when the overland through traffic shal
be conferred upon the CENTRAL ROAD. the gen
cral prosperity of the company will be withou
parallel. and its securities appreciated CORES
pondingly The CENTRAL Pacific RAILgoA
COMPANY offer for sale theirFIhST MORTGAGE
THIRTY.YEAR SIX PER CENT. COLI
BONDS, and submit to Investors t.
following, among other obvious oonsidera
tons; and invite the comparison with the merit
and eIcellenCies Of any class Of Corporate ~
Gurities:
]. These Bonds ars based upon the most vita
and valuable part Of the Grand National Pacib
Railroad. soon TO become the main channel q
communication on the continent.
II. The local settlement and business Their
from is remarkably large and profitable, an
must constantly increase.
Ill The hardest part Of tho road Is nov
built and the remainder Will be rapidly carrie
forward over the Salt Lake Plains.
". The greatest part Of the means necessar
! to build the road il provided by tho L. s. Coz
eminent upon a subordinate lien.
V. The State and chief cities Of Californi
have contributed upward Of 10000 TO ia
enterprise without lien.
VI. The grant Of land il destined at an earl
day tO prove Of far greater market value thai
upon the road and equipments.
VII. This road lies altogether among the gol
are received In coin.
VIII. The management Of this company hs
been in the highest degree prudent and hugA
and the whole surplus after payment Of eTpen'
| and interest, 10 devoted 10 construction puTp'
ses.
| TX. The interest liabilities Of the eompan
| are even now less than . third the net earhiDg
upon the road pledged.
X. Both Principal and IntSTst ar, p0yoLL<
cod. under special proyisiOns Of both Nation
and State enactment.
The bonds are In sums Of $500 each, Wit
semi annual gold coupons attached, and are o
fered for sale at % per cent Of their par vAlu
and accrued interest from Jan. !. AIDED, In Gu
rency.
The hack interest IL charged at ak per GER
in e,Dr,ney, though repaid In full in goLd.
this time they yield nearly
NINE PER CENT. UPON TIE ISVES
MEYT
These bonds BID fair TO attain tho most pro,
inent position among the nOn-Hecalative
vestmeDts Of the country, and win be aSiiTs
dealt in At the mspey-eeutFes IN Europe.