The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-12-22
Principal & Interest in Gold Coin.
Central Pacific Railroad First
Mortgage Bonds.

Central Pacific Railroad First
Mortgage Bonds.
It is commonly known that the General Gov
eminent, for wise purposes, has given Its aiC
and encouragement to the construction OF one
MAIN THROUGH LINE OF RAILROAD from the IA
citc Ocean across the Territories to connect
with the various Eastern Branshes OF the Pa
cifc Railroad system, and which will form the
GRAND TRUNK ROUTE to the Far West
upon which the mighty trsns-continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
COAPANY-who are carrying it forward with
greater energy and persistence than was ever
shown in any sirailar work in ancient or modern
times-will builn, 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 Con ress conters upon the Corpo
rations, besides the right of way across the Ter
ritories gift OF IL 500 acres OF the public lands
Der nile, 10 IulS lluct anu AppiO-
priation from the National credit of Sixty MIL
LIONS in PER CENT. BONDS, delivered as Che
work progresses; or half the 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 small per centage of their net earn
ings; they, therefore, constitute an element VI
great strength TO tho corporations.
The Act further authorizes them to issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, Uhtek
shall be the first claim upon the IChote railroad prop
erty, and 10 lohich the lien Of the Government Sha4
be subordinate as a means of more readily secuf'
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 Pacific RAILROAD is there
fore, in an important sense, a SEM'NATIoNAL
Work, aided and commended by the people the
Legislative power, and the Executive officers,
| though its management is administered I1ith al
the care and fOrethOtLgh Of The most eminent pirate
corporations. Being under the constant super.
viSion of the GOvernment-whO, being the pTin'
cipal creditor accepts a 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 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 1000 miles
of the Main Line and cOnverging Branches be-
tween the Missouri River and the base of the
Rocky Mountains have been built within three
years, The CENTRAL PACIFIC RAILROAD has
also steadlIy and successfully carried the Main
Stem Line from the steamboat navigation of the
Pacific TO the summit of the Sierra Nevada, and
into the Great Salt Lake Basin east of tljs Cali.
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 1870
amount almost to certainty.
The prominent feature in the progress of the
CESTRAL PA IFIC RAILROAD is the remarkably
large and profitable Local Business which is de-
veloped upon the completed portion, more than
iustitying the estimates of its pToieCtors-that
the immense traffic between the ports of Cali
fornia and the mining regions of the inter or
would sustain frst.class railroad line, oven b
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 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;
80 that when the overland through traffic shah
be centered upon the CENTRAL ROAD, thegen.
eral prosperity of the company will be without
parallel, and its securities appreciated cores
pondingly. The CENTRAL Pacific RAILROAD
COMPANY offer for sale theirF1kST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
B ION is, and submit to Investors the
following, among other obvious considera-
tions; and invite the comparison with tilemerits
and aypallaDriea N plaaa nf (nrpnrora az
eurities
l. These Bonds are based upon the most vital
and valuable part of the Grand National Pacific
Railroad. soon to become the main channel of
communication on the continent.
IL The local settlement and business there Q.
from is remarkably large and profitable, and
must constantly increase.
III. The hardest part of the road is now
built, and the remainder will be rapidly carrie d
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road is provided by the U. s. Gov.
eminent upon subordinate lien.
V. The State and chief cities of California
have contributed upward Of s3,OOO,OOO to the
enterprise without lien.
VI. The grant of land is destined at an early
day 10 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 gol d
and silver.producing regions, and its revenues
are received in coin.
VIII. The management of this company has
been in the highest degree prudent and frugal,
and the whole surplus, after payment of expense
and interest, is devoted TO construction purpe-
SEES
TX. The interest liabilities Of the company
are even now less than a third the net ear1iings
upon the road pledged.
X. Both Principal and Interest are pdyabk IN
God, under special provisions of both NationA
and State enactment.
The bonds are in sums Of $1,000 each, with
semiaunual gold coupons attached, and are u.
fered for sale at % per cent of their par ydue
and accrued interest from Jan. |, added, in eur.
rency.
The back interest is charged at SKIP cent
in currency, though repaid in full in g,G. A
this time they yield nearly
NINE PER GEM. UPON THE INVEST.
MEM.
These bonds bid fair TO attain the tpost .ror,-
inent position among the nOn-speculatiye in
vestmehts OF the country, and will be actively
dealt N al the msney centres in Europe.
Holders OF Government securities have An On.
portInlty OF exchanging them for Central Pa
cine bohds bearing an equal rate Of interest
with the principal well secured, and Of
RELYING A PROFIT OF TEN TO ZIP
TEEN PER CENT. IN ADDITION.
oprrs sent with the funds through respopsi-
oie INKS or Express Companies will receive |
pronDt attention. Bonds ssut by return Pr |