The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-08-06
Central Pacific RaiIroad First
Mortgage Bonds.

IL IL commonly known that the General Gov.
ernmsnt for wise purposes, has given its aid
and encouragement 20 the construction OF one
MAIN THROUGH LINE OF RAILROAD from the Pa.
chic Ocean across the Territories 20 connect
with the various Eastern branshcs Of the Pa.
citc 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
are carrying it forward with
greater energy and persistence than was ever
shown In any SIMILAR work In ancient or modern
times-Wlii bui.u, equip, own and control the
Western Half of this Through Line. the most
productive, favored, and valuable portion Of the
whole, and may Justly DO 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 Tor.
gift Of IL so acres OF the public lands
per mile, contiguous TO this line, and en- appro.
priation from the National credit Of SINTY MIL
LIONS in PRR CENT. BONDS, delivered as the
work progresses; OF half tho estimated cost OF
the Through Line and Branches. These Sub
sidy bonds the company may cancel in q course
Of years by the Transportation services Of tho
Roads, and 0 small per csntage Of their net earn.
ings; they, therefore, cOnstitRte 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, irhioA
shall be The first claim upon he Ichol1 railroad prOp.
erty, aud % irhich Tie lien Of the Government shall
be subordinate, as 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 Ia there
fore in an important sense, a NATIONAL
WORK, aided and commended by the people the
Legislative power, and the Executive officers,
though its management Is administered oih al
The care and JOrethOugh oI s most eminent pirate
corporations. Being under the constant super
vipion Of the Government-wbo, being the prin'
cipal creditor, accepts q subordinate and contin.
gent lien-with 80 large an amount OF addition.
al capital also invested In the property pledged.
10 Is believed that no securities now offered In
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 cenverging Branches he
tween the Missouri River and the base OI the
Rocky Mountains have been built within three
years. The CENTRAL PACIFIC RAILROAD has
also steadily and successfully carried the Main
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 the moa'
aal Of L. H..l.
line, the probabilities Of the through connection
with the Eastern lines being effected In ls71
amount almost TO certainty.
The prominent feature In the progress Of tn.
CENTRAL PA IFIc RAILROAD IL the remarkably
large and profitable Local Business which IL do
yeloped upOH the completed portion, more than
iustifying the estimates of it, PROFESSIONALISM
the Immense traffic between the ports Of Cali
f0rnia and the mining regions Of tue int,i Or
would sustain n first-class railroad line even Il
the overland connections were not built. Thu
net profit upon operating the link Of less thai
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
40 that when the overland through traffic shal
be centsred upon the CENTRAL Roam, the gen
eral prosperity Of the company will be without
parallel and its securities appreciated CORES
pOndingly. The CENTRAL Pacific RAILReAf
COMPANY offer for sale theirFlkST MORTGAGE
Thirty YEAR SIX PER CENT GOLD
BONDS and submit 10 Investors tie
following among other Obvious oonsidera
lions; and invite the comparison with the merits
and oIcollencies OF any class OF Corporate 40
Gurities
/. These Bonds are based upon the most vita
and valuable part Of the Grand National Pacific
Railroad. soon 10 become the main channel o.
communication on the continent
II. The local settlement and business ther o
from ia remarkably large and profitable, an'
must constantly increase.
III. The hardest part Of the road IL nos
built, and the remainder will 10 rapidly carrie
forward ever the Salt Lake Plains.
". The greatest part OF the means necessary
10 build the road IL provided by the U. y. Gov
eminent upon q subordinate lien.
v. The State and chief cities Of California
have contributed upward Of 1OO0,OO 20 TN
enterprise without Hen.
vi. The grant Of land IL destined at an eariy
day 10 prove Of far greater market valne thar
the total Of the frst 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 coin.
VIII. The management Of this company Ia
been in the highest degree prudent and frugA
and the whole surplus after payment OF erpebs
and interest, 10 devoted 10 construction purp'
ses.
TX. The interest liabilities Of the eonpan
are even now less than third the net eaTIing
upon the road pledged.
\. Both Principal and Int~reEt are pdyabL
| Coli. under special provisions u both SatiOni
/ and State enactment.
The bonds are in sums Of 1900 each, wit
semi-annual gold coupons attached, and are
and accrued interest from Jan. ]. added IN Gu
reBey.
The hack interest IL charged At sir per cen
In e,rysneV. though repaid In full In gold.
this time they yield nearly
NINE PER CENT. UPON THE IyTEs
| XEgT.
These bonds bid fair 10 attain The most pro-
insBt position among the BOn~pocHlztiTe
vestnents 81 the oosBtry, and WI b asuTe
dealt In at the msnsy centres In Europe.
Holders ot Government securities have an Q
portuBity Of exchanging theta Tor Contra
eiiie Bonds bearing an equal rate of intefe'
with the principal well secured, and Of
REALIZING A PROFIT or TIN TO III
TEEN PER CENT IN ADDITION
Order. ant with the funds through rezpon
LIE Banks or EIpress Companies Will rssei
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