The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-03-18
Central Pacific Railroad First
Mortgage BOndS.

1t is commonly known that the General Gov
eminent, for wise purposes has given its ali
and encouragement 70 the construction Of on,
MAIN THROUGH LIKE OF RAILROAD from the Pa
cific Ocean across the Territories 20 connect
with the various Eastern branches Of the Pa
cifc Railroad system and which win form Tn
GRAND TRUNK ROUTE 70 the Far West
upon which the mighty transcontinental traffi'
will concentrate.
The CENTRAL PACIFIC RAILROAf
CoMPANY-who are carrying IL forward viii
greater energy and persistence than was evei
shown in any similar work in ancient or modern
times-win build, equip, own and control the
Western BALI 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
ritories gift Of u so acres Of the public land
per mile, contiguous to this line, and en- appro
priation from the National credit Of sixty NIL
LIONS in 6 PER CENT. RoNDs, delivered rs tn,
work progresses; or half the estimated cost
| the Through Line and Branches. These Sub
sidy bonds the company may cancel in a csurs'
of years by the Transportation services Of th'
Roads, and a small per centage of their net earn
ings; they, therefore, constitute an element Of
great strength 10 the corporations.
The Act further authorizes them 10 issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, iSkiel
shall BE- ts first claim upon the tchOte rditrOdd prop
erty and % I0hich Tie lien Of TIE Government shall
be subordinate, rs q means Of more readily secur
ing the remaining half Of the capital for the con
structiOni 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 SESu NATIONAL
WORK, aided and commended by the people, thG
Legislative power and the Executive officers
though itA management Is administered 10Th al
the care and IOTethOug Of the most eminent pTrdt'
corporations. Being under the constant super
vision Of the GOvernment-whO being the prin
cipal creditor, accepts subordinate and contin
gent lien-with 30 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 70 conh.
dence and market value, except those Of the
Government.
Under these favOring auspices very graft flying
progress has been made in extending the railroad
track from both directions. Nearly 1000 miles
Of the Main Line and oOnvergiug Branches be
tween the Missouri River and the base Of the
Rocky Mountains have been built within thret
years. The CENTRAL Pacific RAILROAD hA'
also steadily and successfully carried the Mali
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 the Cali
fOrnia line, Having overcome by far the most
difficult and expensive portion Of the whOls
line the probabilities Of the through connection
with the Eastern lines being effected In 1870
amount almost 10 certainty.
The prominent feature In the progress of the
CENTRAL Pacific RAILROAD Is the remarkably
large and profitable Local Business which IL do
veloped upon the completed portion, more than
iustifying the estimates OF its professionalism
the immense traffic between the ports Of Cali
fornia and the mining regions Of the int'I Of
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
one hundred miles, thus far, reaches nearly two
millions in gold; and this ratio will he doubled
during the coming season, when the entire
mOuDtaiR transit Is made by the locomotive.
With every extension Of the track, tho business
and profits of the completed part are increased;
40 that when the overland through traffic shall
be conferred upon the CENTRAL Roam, the gen,
eral prosperity of the company viii be without
parallel, and its securities appreciated CORES
pOndingly. The CENTRAL Pacific RAILKeAD
COMPANY offer for sale theirFIktST MORTGAGE
THIRTY-YEAR SIX PER CENT. GOLD
BONDS, and submit to Investors tAe
following, among other obvious coRsidera
tiOns; aud invite the comparison with the merits
and eXcellencits Of any class OF Corporate ~,
curities:
j. Tbeso Bends are based npsn the most vital
and valuable part Of the Grand National PaciBc
all tn haR he in AL al nj
communication on the continent.
II. The Local settlement and business there
from ia remarkably large and profitable. and
must constantly increase.
III. The hardest part Of the road IA nov
built, and the remainder will DO rapidly carries
forward over the Salt Lake Plains
". The greatest part Of the means necessary
to build the road IL provided by the U. s. Gov
eminent upon subordinate lien.
V. Tie State and chief cities OF CalifOrnia
have contributed upward Of tJOSOOCO 70 tbs
enterprise without lion. TO-.
wi. The grant Of land ia destined at an eariy
the t ia Of the first mortgage bonds issued
WI. This road lies altogether among the gold
and silyerProducing regions, and it, revenues
are received in coin.
WIZ r. .,', ,n. ., o,,Li. oo,.o,,,, t..
49,, =, .Is l1ss-f is,-se ,,,,,ds,t ~ 1rynsaI
ana The yTkala snynlus aft,,r "a vment Al eTDen.s
nd Inferred h dsyoted 10 e11Strurtiou purpo
a.
.f
.r-..
TX. Tho interest liabilities Of the company
and state enactment
fered for saIe AZ IS per cent OF their par TAlHe
and accrued interest from Jan. l. saaea' lh cur
reney.