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

1t is commonly known that the General Gov
eminent, for wise purposes, has given its aiI
and encouragement 10 the construction of ont
MAIN THROUGH LINZ OF RAILROAD from the Pa
cihc Ocean across the Territories TO conuec
with the various Eastern Branshes of the Pa
cifc Railroad system. and which will form the
GRAND TRUNK ROUTE 10 the Far West
upon which the mighty traRs-continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
C0MPANY-whO are carrying IL forward with
greater energy and persistence than was ever
shown in any SIMILAR work in ancient or modern
times-wil 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 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 II 800 acres OF the public lands
per mile, contiguous t. this line, and sn appro
priatiOn from the National credit Of sixty NIL
LIONS in PER CENT. 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 course
of years by the Transportation services of the
Roads, and small per centage Of their net earn
ings; they, therefore, constitute an element OF
great strength TO the corporations.
The Act further authorizes them 10 issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, iohiei
shall be The first claim upon the tohOLe railroad prop
erty and % toiHch the lien Of the Government shall
De subordinate, rs means OF more readily secur
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, a SEMI NATIONAL
WORK, aided and commended by the people, the
Legislative power and the Executive officers
though its management is administered 18th all
the and JOTeth0ttgh Of the most eminent prUdte
corporations. Being under the constant super
viOiOn of the Government-who being the prin'
cipal creditor, accepts a subordinate and conttn.
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 graft lying
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 steadny and successfully carried the Main
Stem Line from the steamboat navigation Of the
Pacific TO the summit of thu 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 the through connection
with tho Eastern lines being effected in lsIO
amount almost TO certainty.
The prominent feature in the progress Of the
CENTRAL PA IFIC RAILROAD Ia the remarkably
large and prof table Local business which is dc
veloped upon the completed portion, more thar
iustifying the estimates of it, pIojectOrs-that
the immense traffic between the ports Of Cali
fOmia and the mining regions Of the inter OF
would sustain hTstClass railroad line even II
the overland connections We're 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
so that when the overland through traffic shall
be conferred upon the CENTRAL ROAp, the gen
eral prosperity Of the company will be without
parallel, and itS securities appreciated CORES
pOndingly. The CENTRAL PACIFIC RAILROAD
COMPANY offer for sale theirFIhST MORTG II
THIRTY YEAR SIX PER CENT. GOLD
BONDS, and submit 10 Investors tire
following, among other obvious oOnsidera-
tiOns; and invite the comparison with the meritr
and cXCellencits of any class OF Corporate 80
aurities:
!. These Bonds are based upon the most vita
1 90
Railroad. soon 20 become the main channel o
| communication on the continent.
II. The local settlement and business thcre
from ia remarkably large aud profitable, AM
must constantly increase.
III. The hardest part Of the road ia nov
built, and the remainder will be rapidly carrie
forward over the Salt Lake Plains.
". The greatest part Of tho means necessary
to build the road Il provided by the u. ,. Gov
eminent upon a subordinate lien.
V. The State and chief cities Of California
have contributed upward Of tJ,OOODo0 to th'
enterprise without lien.
VI. Tho grant Of land Is dcstised At an early
day 20 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 silver producing regions, and ia revenue
are received in coin.
| VIII The management Of this company ha
/ been in the highest degree prudent and frugal
| and the whole surplus, after payment OF eIpen-
I Ia f.i IN Inn
ses
TX. The interest liabilities Of the compan
are even now less than a third the net earring
upon the road pledged.
X. Both Principal ard Tat>Test are payaJL>
cod. 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 0
fered for sale al % per cent Of their par yalu
and accrued interest from Jan. !, added, in Gu
rency.
The back interest il charged at six per Ger
in currency, though repaid in full in gold.
this time they yield nearly
NINE PER CENT. UPON THE WVES
MEHT.
These bonds bid fair to attain Che nost prO I,
inent position among the non ", - .s,f-si
yestneuts Of the country, and VII ~, ~
dealt in at The 1 u k.f SsT. an o,
hoiaslso ~ cTrbauging them for Central j
Ptg PI,,ds bearing an equal rate Of intsTes
IN li.b ne principal well secured, and Of
REALIZING PROFIT or TEN TO FL
TEEN PER CENT IN ADDITION
4 Orders ant With the funds through respon,
HzrEz n Err~Eaa