The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-06-01


cifc Railroad system, and which will form the
GRAND TRUNK ROUTE 10 the Far West,
upon which the mighty trans-continentA traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-whoa are carrying IL forward with
greasar energy and persistence than was ever
shown in any siplilar work in ancient or modern
times-will bulls, 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.
ritories gift of IL SOO acres Of tho public lands
per mile, contiguous 10 this line, and an apprO-
priatiOn from the National credit Of sixty NIL.
LIONS in FER CENT. RoNps, delivered IA the
work progresses; or halftho estimated cost Of
the Through Line and Branches. These Sub
sidy bonds the company may cancel in course
of years by the Transportation services of the
Roads and a small per centage Of their net earn
ings: they, therefore, constitzto 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, tShich
shall be the first claim upon The tchoIs railroad prop
ert,y and TO Aich the lien Of the Government shall
be subordinate, "a means OF more readily secuT.
ing the remaining half Of the capital for the con
structon; 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, q SEM NATIONAL
WORK, aided and commended by the people, the
Legislative power, and the Executive officers,
though its management Is administered u1h az
the care aud Jorethough Of hS most eminent pirate
corporations. Being under the constant super
vinlOn Of the Government-whO. being the prin
cipal creditor accepts a subordinate and contin.
gent lien-with 40 large an amount OF addition.
al capital also invested in tho property pledged,
IL is believed that no securities now offered In
the market poSsoss the sane claims TO conn.
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 conyorging Branches be-
tween the Missouri River and the base Of the
Rocky Mountains have been built within thres
years. The CENTRAL PACIFIC RAILROAD has
also steadily and successfully carried the Main
Stem Line from the steamboat navigation Of the
Pacific 10 the summit of the Sierra Nevada, and
into the Great Salt Lake Basin east Of the Cali
fornia line. Having overcome by far the most
difficult and expensive portion Of tho whole
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 the
CENTRAL Pacific RAILROAD is the remarkably
large and profitable Local Business which Ia de.
veloped upoH the completed portion, more than
iustffying the estimates Of its PROFESSIONALISM
the immense traffic between the ports Of Cali
fOrnia and the mining regions of the int or
would sustain hrst-Class railroad line, even 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 he doubled
during the coming season, when the entire
mountain transit Is made by the locomotive.
With every extension OF the track the business
and profits Of the completed part are increased;
so that when the overland through traffic ahall
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 RAILROAD
COMrASY offer for sale theirFIhST MORTGAGE
BONDS, and submit to Investors tive
following. among other obvious oonsidsra-
tions and invite the comparison with the merits
and excellences Of any class Of Corporate Sc
Gurities:
]. These Bends are baAed upon the most vital
and valuable part of the Grand National Pacific
Railroad soon 10 become the main channel Of
communication on the continent.
II. The local settlement and business there
from II remarkably large and profitable and
must constantly increase.
III The hardest part Of the roSd IL now
built and the remainder will be- rapidly carried
forward ever the Salt Lake Plains
" The greatest part Of the means necessary
10 build the rUaA n provided by the U. =. Gov.
ernnent upon q subordinate lien.
V. Tie State and chief cities 81 California
have contributed upward Of s3,OD,O00 ~ the
enterprise without lien.
VI. The grant Of land IL destined az 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 gold
and silyer-Producing regions, and it, revenue"
are received In coin.
VIII. The management Of this COMPANY has
been In the highest degree prudest and frugal,
and the whole surplus after payment Of expense
and interest, IA devoted IN construction purpo-
ses.
TX. The interest liabilities Of the company
are even now less than O third the net earnings
upon the road pledged.
K. Both Principal and IntsreSt are payable IN
Odd, under special proyisiOns Of both National
and State enactment.
The bonds are in sums Of 5000 each, with
semiaunual gold coupons attached, and are Of.
fered for sAls ~ IS per cent Of their par value,
and accrued interest from Jan. /, Sdded, in cur.
reney.
The back interest h charged at Elk per cent
In currency, though repaid In full in 9OlA Al
this time they yield nearly
NINE PER CENT Upon THE INVEST.