The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-10-29
Central Pacific Railroad First
Mortgage Bonds.

1t is commonly known that the General Gov.
ernmOnt for wise purposes, has given its aid
and encouragement 10 the construction Of one
MAIN THROUGH LINZ oP RAILROAD from the Pa
oihc Ocean across the Territories 20 connect
with the various Eastern branches Of the Pa
cine Railroad system, and which will fern tho
GRAND TRUNK ROUTE TO tho Far West,
upon which the mighty trans-continental tra;ic
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-who are carrying Il forward with
greater energy and persistence than was ever
shown In any similar work in ancient or modern
W %ssrWi Hs Sga ai own and eoI ,s the
productive, favored, and valuable portion OF the
whole, and may Justly be regarded a. possessing
the richest franchise ever granted on this oonu
ncnt
The Act Of Congress confers upon the Corpo-
rations, besides the right Of way across the Ter
ritores, gift Of IL 500 acres OF the public lands
per mile, contiguous 70 this line, and an appro-
priAtion from the National credit OF SIITr MIL
Iona in PR eKST. BONDS, delivered "A the
work progresses; or half the estimated cost a
the Through Line and Branches. These Sub
sidy bonds the company may cancel in o course
Of years by the Transportation services OF the
Roads, and small per csntage Of their net earn
ings; they, therefore, constitute an element q
great strength TO the corporations.
The Act further authorizes them TO issue N
equal amount of their own First Mortgage
Bonds of corresponding denominations, trAieA
shah be the first claim upon the IcholS railroad prop
erty aud % iohich the den Of ths Government sAaG
be subordinate, as q means Of more readily secuS
ing the remaining half Of tho 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, q SKMI.NAuoSAL
WORK aided and commended by the people, tho
Legislative power, and the Executive oniccpa
though its management IL ddminlsfsvsd etfh an
the care aud forethOu9h Of TIE most eminent prirets
corporations. Being under the constant super
viHion Of the Government-who being the prts.
cipal creditor accepts subordinate and contin
gent lien-with 40 large an amount OF addition
al capital also invested In the property plcdged,
IL IL believed that no securities now offered In
tho market possess the sane claims 20 coma
denco and market vrlue except those OF tho
Government
Under these favOring auspices very gratifying
progress has been made In extending tho railroad
| track from both directions Nearly 1000 miles
| of tho Main Line and convergng Branches 10
| tween the Missouri River and tho base OF the
Rocky Mountains have been built within thlop
| years. y ue SENlhAL hAIhoAb nnr
Stem Line from the steamboat navigation Of the
Pacific 10 the summit Of the Sierra Nevada, and
into the Great Salt Lake Basin east OF the Cali
| fornia line. Having overcome by far tho moat
| difficult and expensive portion OF the whole
| line tho probabilities Of the through connection
with the Eastern lines being effected In ls7o
amount almost TO certainty.
The prominent feature in the progress Of the
CESTRAL PA H1C RAILROAD IL the remarkably
large and profitable Local Business which IL ds-
veloped upon the completed portion, moro than
iustifying the estimates Of ia pTojectors-that
the immense traffic between the ports Of Cali
fornia and the mining regionSof the inter or
would sustain first class railroad line, even "
the overland connections were not built Tho
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, whom the entirs
mountaiA 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 tho overland through traffic sbnh
be conferred upon the CENTRAL ROAD, the geD
eral prosperity Of the company will bo without
parallel, and its securities appreciated corres-
| pOndingly. Tho CENTRAL Pacific RALReLD
COMPANY offer for sale theirFIRST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
BON IS, and submit TO Investors Ehe
| following, among other obvious cOnsdera-
and eIcellenoios Of any class Of Corporate -.
euritios:
| l. These Bonds are based upon the most vital
and valuable part Of the Grand National Psoiha
/ Railroad soon 90 become tho main channel OF
| communication on the continent.
| H. The local settlement and business there
from il remarkably large and profitable, and
must constantly increase.
III. The hardest part Of tho road 10 now
built, and the remainder viii DO rapidly carried
forward over the Salt Lake Plains.
". The greatest part Of tho means necessary
tn build the road IL provided by the U. 3. Gov.
ornment upon a subordinate lien.
i V. The State aud chief cities Of California
have contributed upward Of sJ,ooo0Oo 70 the
enterprise without lien.
| VI. The grant Of land il destined AZ an eafiy
day TO prove Of far greater market value thar
the total Of the frat mortgage bonds Issued
upon the road and equipments.
VII. This road lies altogether among the gold
and silver.producng regions. and iu revenues
are received In coin.
VIII. The management Of ths company has
been In the highest degree prudent and frugal
and the whole surplus after payment OF expense
and interest, II DEVOTED 20 construction purp$
zee.
TX. The interest liabilities Of the company
are even now less than = third the net eAr1pEs
upon the road pledged.
X Both Principal and IHi>Tea ara DayaLL y
Gold, under special provisions Of both GSton1
and State enactment.
The bonds are In sums Of tl0oe each, VITA
> semi annual gold coupons attached and ara a.
fered for sale at % per cent Of their par vnus'
! and accrued interest frUm Jan. ], adsod' 10 cur
4 reney.
The hack interest IL charged 81 siH per cess
!, In e,fTySn1y. though repaid 10 fah in GOD
!. this time they yield Bs-ry
/. ruyE PER CEM. UPos THE HYEsr
HERT.