The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-08-20
Central Pacific Railroad First
Mortgage Bonds.

Central Pacific Railroad First
Mortgage Bonds.
1t is commonly known that the General Gov.
ernmsnt for wise purposes, has given its aid
and encouragement 10 the construction of one
MAIN THROUGH LINE OF RAILROAD from the Pa
cine Ocean across the Territories 10 connect
with the various Eastern Branshes Of the Pa
cihc Railroad system. and which will form the
GRAND TRUNK ROUTE 10 the Far West,
upon which the mighty trans'continental traihe
will concentrate.
The CENTRAL PACIFIC RAILROAD
COAPANY-who are carrying IL forward with
greater energy and persistence than was ever
shown-ia any siVNilar work in ancient or modern
times-wll bui,i, equip. own and control the
Western Half Of this Through Line the most
productive, favored and valuable portion of TN,
whole, and may Justly be regarded as possessing
the richest franchise ever granted on this cont.
nent.
The Act Of Congress cOnters upon the Corpo
rations, besides the right of way across the Ter
ritories gift of - sou acres OF the public lands
per mile, contiguous 10 this line, and en- appro-
priation from the National credit OF sixty NIL
LIONS in FER CRNT 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 4 small per centage of their net earn
ings they, therciope, constitute an element Of
great strength TO the corporations.
The Act further authorizes them TO issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, tchicl
shall be The Erst claim upon TIE nhOls rusroad prop
erty and % tekieh The lien Of the GOrernmeRt shall
be subordinate as a means OF more readily secur
ing the remaining half Of the capital for the con
struct:On: 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 SENI.NArIOSAL
WORK aided and commended by the people. thr
Legislative power and the Executive officers,
though its management Is ddHiHiA,Sred nth al
TIE care and JorsthOttJht Of the most siaiHst pIrdts
corpOrdtiOHS Being under the constant super
vision Of the OBSERVATION-DISCLOSURES, being the prin
cipal creditor, accepts subordinate and oontin
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 100 miles
of the Main Line and cOnverging Branches be
tween the Missouri River end the base of th'
Rocky Mountains have been built within thre'
years. The CENTRAL PACIFIC RAILROAD ha,
al All and afui 10 he
Stem Line from the steamboat navigation OF tn,
Pacific TO the summit of the Sierra Nevada, an'
into the Great Salt Lake Basin east of the Cali
fornia line. Having overcome by far the mos
difficult and expensive portion Of the who'
line. the probabilities of the through connection
with the Eastern lines being effected in is7'
amount almost 10 certainty.
The prominent feature in the progress Of tn
CENTRAL PA IFIC RAILROAD Is the remarkabl,
large and profitable Local Business which is do
velOped upon the completed portion, more thar
iustifying the estimates Of it, PROFESSIONALISM
the immense traffic between the ports of Cali
fornia and the mining regions of the int'' o.
would sustain q tirst-Class railroad line, even !
the overland connections were not built. TIT
net profit upon operating the link Of less thai
one hundred miles, thus far, reaches nearly TIVE
millions in gold: and this ratio will be double,
during the coming season, when the entir'
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 shal
be centered upon the CENTRAL Road, the gen
erai prosperity Of the company will be wtthOu
parallel, and its securities appreciated CORES
pondingly. The CENTRAL Pacific RAiLRsAl
COMPANY offer for sale theirFIhST MORTGAGE
THIRTY.YEAR SIX PER CENT. COLI
BONDS, and submit TO Investors IN
following. among other obvious ooDsidera
tons and invite the comparison with the merit
and excellencIes Of any class OF Corporate ~
curites:
and valuable part Of the Grand National Paein
Railroad, soon 10 become the main channel o
communication on the continent.
II. The local settlement and business Their {
from is remarkably large and profitable, 40
must constantly increase.
III. The hardest part Of the road IS nov
built and the remainder will b. rapidly carrie
forward over the Salt Lake Plains.
". The greatest part Of the means neeeszar.
to build the road Is provided by the U. ). Gov
eminent upon a subordin lien.
V. The State and chief cities Of CSliforni
have contributed upward Of $4,000 TO th
enterprise without lien.
VI. The grant Of land Is destined at an earl,
day To prove Of far greater market value thai
the total Of the frst mortgage bonds issne'
upon the road and equipments.
VII. This road lies altogether among the golC
and silver. producing regions, and its revenue
are received in coin.
VIII. The management Of this company Ia
been in the highest degree prudent and frugA
and the whole surplus, after payment Of eIpsn'
and interest, IL devoted 10 construction purp'
ses.
TX. The interest liabilities Of the cOmpan
are even now less than . third the net earning
upon the road pledged
K. Both Principal and THtSrezt are pdyGbI
God. under special provisions Of both hAiioni
and state enactment
The bonds are In sums Of 1900 each. wit
seui-sunual gold coupons attached, and are o
/ fered for sale at IS per cent Of their par VAIN
and accrued interest from Jan. .. AIDED, In ca
rency.
The baek interest /. charged "a, a ak per PEI, esI
| in currency, though repaid IN inu IN 9>Ed.
this time they yield nearly
NINE PER GEM. UPON The LyVES
HEYE