The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-09-10
Central Pacific Railroad First
Mortgage Bonds.

Mortgage Bonds.
1t is commonly known that the General Gov.
ernmont, for wise purposes has given its aid
and encouragement 70 the construction OF one
MAIN THROUGH LINE OF RAILROAD from the Pa
cific Ocean across the Territories 10 connect
with the various Eastern Branches Of the Pa.
ciac Railroad System, and which will form the
TRUNK ROUTE 70 the Far West
upon which the mighty transcontinental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
are carrying it forward with
greater energy and persistence than was ever
shown In any sip'ilar work in ancient or modern
times-will euiia, 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 the Ter.
gift of IL 800 acres OF the public lands
per mile, contiguous to this line, and an appro.
pration from the National credit of sixty MIL
LIONS in PER CENT. BONDS, delivered rs the
work progresses; or half the estimated cost OF
the Through Line and Branches. These Sub
OF years by the Transportation services Of the
Roads, and q small per csntage Of their net earn
ings; they, therefore, consulate an element OF
great strength 10 the corporations.
The Act further authorizes them to issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, tohioh
shall be the first claim upon The tchole railroad prop
erty, and 10 tehieh he lea Of tho Government shall
be subordinate, rs q means of more readily secur.
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 PACIFIe RAILROAD is there
fore In an important sense, q SRMI.NATIoNAL
WORK, aided and commended by the people, the
Legislative power, and the Executive officers
though its management Is administered toih al
the care and JOrethO1At Of The most eRinet PIRATE
corporations. Being under the constant super
vi0iOn Of the Government-vho, being the prin
cipal creditor, accepts subordinate and contin.
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 20 comb
dence and market yGlue, 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 cenverging Branches bo-
tween the Missouri River and the base Of the
Rocky Mountains have been built within three
years. The CENTRAL PACIFIC RAILROAD has
also steadIIy and successfully carried the Main
Stem Line from the steamboat navigation of the
Pacific 10 the summit of tho Sierra Nevada, and
into the Great Salt Lake Basin east of the Call.
fornia line. Having overcome by far the most
difficult and expensive portion Of the whole
line, the probabilities Of the through connection
with the Eastern lines being effected in l57O
amount almost 10 certainty.
uEN M r. "a tic KIiIRoiD Is tie Remarkably
large and profitable Local business which IL dc.
velOped upon the completed portion, moro than
iustifying the estimates of its pIojcctOrs-that
the immense traffic between the ports Of Cali
fOrnia and the mining regions Of tue int or
would sustain q hrst-Class railroad line, even II
the overland connections were not built. The
net profit upon operating the link Of less than
ono hundred miles thus far reaches nearly two
millions in gold; and this ratio will be doubled
during tho coming season, WHOM the eDtiro
mountain transit Is made by the locomotive
With every extension Of the track. the business
and profits of the completed part are increased,
40 that when the overland through traffic ahall
be centered upon the CENTRAL ROAD, the gen
eral prosperity Of the company will DO without
parallel. and its securities appreciated CORES
pondingly. The CENTRAL Pacific RAHRsAr
CoNPASY offer for sale thelrFIkST MORTG AGE
THIRTY-YEAR SIX PER CENT. GOLD
BONDS and submit to Investors TIE
following among other obvious considera
tons; and invite the comparison with the merits
and excelencies Of any class OF Corporate se
Gurties:
/. These Bonds are based upon the most vita
and valuable part of the Grand National Pacific
Railroad, soon 10 become the main channel o.
communication on the continent.
H. The local settlement and business thcr c
from Is remarkably large and profitable, ant
must constantly increase.
III. The hardest part Of the road il now
built and the remainder win be rapidly carrie
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
10 build the road Il provided by the U. 5. Gov
eminent upon a subordinate lien.
V. The State and chief cities OF California
have contributed upward Of s3000OO TO tb'
enterprise without lien.
VI. The grant Of land is destined at an early
day 70 prove Of far greater market value than
the total Of the first mortgage bonds issue'
upon the road and equipments.
VII. This road lies altogether among the gold
and silver producing regions, and Its revenue
are received In coin.
VIII. The management Of this company bA
been in the highest degree prudent and frugal
and the whole surplus. after payment Of eIpens
and interest, Is devoted 20 construction purp'
| Sea.
TX. The interest liabilities Of the eompan
are even now less than third the net earning
upon the roAd pledged.
| Y. Both Principal aud IHt<Jest are pGyabk I
God, under special provisions OF both Nations
and State enactment.
The bonds are in sums Of 1900 each, wit
semi-aunuAl gold coupons attached, and are o
fered for sale ct IS per cent Of their par va4u'
and accrued interest from Jan. ], sdaed' IN GU
rency.
The back interest IL charged at siT per cen
in currency, though repaid In full In god. A
this time they yield nearly
NINE PER CENT. UPON THE ISTES
NRyT.
These bonds lid fair 10 attain the most sr0r
inent position among the n0nspeculatiye !
yestments OF the country, and viii DO astiys
dealt In at the msney-osDtres In Europe.
Holders Of Government securities have an o
p0rtunity Of exchanging them for Central j
eife Bonds bearing an equal rate Of iDtsfe-
with the principal well secured, and Of
REALIZING A PROFIT OF TEN TO III
TEEN PEI CENT IN ADDITION.
o,,sr. ant With the funds through rtsponi
lie P.nks or EIpresa Companies will roeei
Dro,'.,,, at.sntion. Bonds ssnt by return Y
49, 20 any address In the United States,
aur eost Information, Descriptive paDphsi