The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-08-04

1t Is commonly known that the General Gov.
ernmsnt for wise purposes has given its Aid
and encouragement 10 the construct ion of one
MAIN THROUGH LINE or RAILROAD ffom the Pa
citc 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 10 the Far West
upon which the mighty trans continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-who are carrying IL forward with
greater energy and persistence than was ever
shown in kny similar work In ancient or modern
times-will builu, 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 possessug
the richest franchise ever granted on this cont.
nent.
The Act of Congress oonfers upon the Corpo.
rati0ns, besides the right Of way across the Ter.
rit0ries gin Of l2 $40 acres Of the public lands
per mile, contiguous % this line, aud an appro.
priation from the National credit Of SI1rI NIL.
LIONS In PER CENT. BONDS, delivered As the
work progresses; or half the estimated cost OF
tho Through Line and Branches. These Snb
sidy bonds tho company may cancel in course
OF years by the Transportation services OF the
Roads, and small per csntage Of their net earn.
ings; they, therefore, consulate an element Of
Hiedt ntiehstu W thc COipoIdtlO0s.
The Act further authorizes thcm TO issue an
equal amount Of their own First Mortgage
Bonds of corresponding denominations, trAieh
shall be The first claim upon the .choie railroad prop.
erty, and 20 ehiah The hen Of The Government shall
be subordinate, as means OF more readily secur-
ing the remaining half OF the capital for the con
struction; the equipments, 40, being provided
out of the capital stock subscriptions and other
sources.
The great CENTRAL PAcIPie RAILROAD Ia there
fore, In an important sense n SENu NATION Al.
WoRK, aided aud commended by the people the
Legislative power, and the Executive officers,
though its management Is administered pih al
the care and JorethOtigh Of Tia most eninet prUdte
corporations. Being under the constant super
yiDion of the Government--who, being the prin'
cipal creditor, accepts subordinate and contin.
gent lien-with 80 large an amount Of addition.
al capital also invested In tho property pledged.
1t Is believed that no securities now offered Ia
the market possess the sane claims 20 conf
dence and market value, except those Of tho
Government.
Under these favOring auspices very gratifying
progress has been made in extending the railroad
track from both directions. Nearly lOOO miles
Of the Main Limo and conyorging branches lie.
tween the Missouri River and the base Of the
Rocky Mountains have been built within throo
years. Tue CENTRAL Pacific RAILROAD has
also steaduy and successfully carried the Main
Stem Line from the steamboat navigation Of the
Pacific to tho summit Of tho 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 the whole
line the probabilities Of tho through connection
with tho Eastern lines being effected In is7O
Amount almost 10 certainty.
The prominent feature In the progress Of thu
CENTRAL PA IFIC RAILROAD IL the remark ably
largo and profitable Local business which In de.
velopcd upoH the completed portion, more Than
iustifying the estimates Of its pIoicctIrs-that
the immense traffic between the ports of Cali
iOrnia and the mining regions Of the intti OI
| would sustain flrst-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 be doubled
during the coming season, when the entire
mountaiR transit IL made by the locomotive
With every extension Of the track, the business
| and profits Of the completed part are increased
| 30 that when tho overland through traffic shall
be conferred upon the CENTRAL ROAD. tho gen
eral prosperity of the company viii be without
parallel, and its securities appreciated cores
pondingly. Tho CENTRAL PACIFIC RAILROAD
COMPANY O1er for sale theirFIkST MORTG X
Thirty. YEAR SIX PER CENT. GOLD
BONDS, and submit 20 Investors the
following. among other obvious cons!dora.
tions; and invite the comparison with the merits
and exCellcncies OF any class OF Corporate 80
eurities:
/. These Bonds are based upon tho most vita
and valuable part Of the Grand National Pacific
Railroad. soon 10 become the main channel d
communication on the continent
II. The local settlement and business ther Q
from IL remarkably large and profitable. ant
must constantly increase.
III. Tho hardest part Of the road IL now
built, and the remainder viii be rapidly carrie
forward ever the Salt Lake Plains
". The greatest part Of the means necessary
10 build the road Is provided by the L. y. Gov
eminent upon a subOr diDate Hen.
V. The State and chief cities of Californii
have Contributed upward Of t3,6OO.GJ0 to th'
enterprise without lien.
VI. The grant Of land Is destined At an early
day 20 prove Of far greater market value thar
the total Of the Rrst mortgage bonds ISSUES
upon the road and equipments.
VII. This road lies altogether among the gold
and silver producing regions, and its revenue
are received In ccin.
/ VIII. The management Of this company In
been in the highest dsgree prudent and frugal
and the whole surplus after payment Of erpsns
and interest, 10 devoted 20 construction parps
| ses
TX. The Interest liabilities of the eompan
are even now leas than 4 third the net earning
upon the road pledged.
X. Both Priaeipai and In,eyest are paya,% I
God, under special provisions Of both Nations
and State enactment
| The bonds are in sums Of 5000 each, wa
semi-aanual gold coupons attached, and are o
fered for sale at IS per cent OF their par yain'
and accrued interest from Jan. ], adaod' ID eal
rency.
The hack interest IL charged at ak per cen
in evryesaev though rcpaid In fun in gOd A
this time they yield sea1iy
ErvE PER CENT. UPON THE ISvRs
IEgT.