The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-03-17

tors, and others desiring an unus lally safe, re
liable and profitable form Of permanent invest
ment, is called to the advantages and assurances
of the "a
Central Pacific Railroad First
Mortgage Bonds.
! 1t is commonly known that the General Gov.
eminent, for wise purposes, has given its aid
and encouragement 10 the construction Of one
MAIN THROUGH LINE or RAILROAD rom the IA.
citic Ocean across the Territories 70 connect
with the various Eastern branshes of the Pa
cito Railroad system, and which win form the
| GRAND TRUNK ROUTE 10 the Far West
upon which the mighty traRs-cOntinental traffic
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
| times-will build, equip swn 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 cOufers upon the COrpO-
rations besides the right of way across the Ter.
ritOries gift of - 500 Of tho public lands
per mile, contiguous TO this line, and an appro
priation from the National credit of sixty MIL
| LIONS in FER 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 10 the corporations.
! The Act further authorizes them 10 issue an
equal. amount of their own First Mortgage
! Bonds of corresponding denominations, ichIch
shall bs he first claim upon The trhote railroad prop,
erty, and 10 rhich The lien Of he Government shall
! be Subordinate, As n means of more readily secur
ing the remaining half of the 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, u SEM'NATIoNAL
| WORK, aided and commended by the people the
| Legislative power and the Executive officers,
| though its management is administered Wih al
The care aud JOTehOtyt u the most eminent pirate
| corporations. Being under the constant super
| viOiOn of the GOveTnment-who, being the prtn-
| cipal creditor, accepts subordinate and contn.
| gent lien-with 80 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 10 conf.
dence and market value except those Of the
| Government.
Under these favorng auspices very gratifying
progress has been made h extending the railroad
| track from both directions. Nearly 1000 miles
| of the Main Line and converging Branches he
| tween the Missouri River and the base Of the
Rscxy 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 to the summit of the Sierra Nevada, and
into the Great Salt Lake Basin east of the Cali.
furnia 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 1870
amount almost 10 certainty.
The prominent feature in the progress of the
! CENTRAL PACIFIC RAILROAD ia the remarkably
! large and profitable Local Business which IL de-
velOped upon the completed portion, more than
! iustiiying the estimates of its pI0ject0rs--thlt
! the immense traffic between the ports Of Cali
| iornia and the mining regions Of the int' or
would sustain n frst-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 ia made by the locomotive.
| With every extension Of the track, the business
and profits Of the completed part are increased:
so that whCa the overland through traffic shall
be centered upon the CENTRAL ROAD, the gen.
eral prosperity Of the company will he without
parallel, and IFS securities appreciated CORES.
pOndingly. The CENTRAL Pacific RAILRSAp
COMPANY offer for sale tberFIfST hORTG AGE
/ THIRTI.YEAR SIX PER CENT. GOLD
i o n ID S, and submit TO Investors the
following, among other obvious cOasidera-
and cxcellenciss Of any class OF Corporate 80.
Cuiities:
I. These Bends are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad. soon tO become the main channel Of
communication on the continent.
II. The local settlement and business there.
from is remarkably large aud profitable, and
must constantly increase.
III. The hardest part Of the road Is now
built and the remainder will be rapidly carried
forward over the Salt Lake Plains!
" The greatest part Of the means necessary
to build the road il provided 10y the U. =. Gov.
eminent upon subordinate lien.
V. Ike State and chief cities Of California
have contributed upward Of s. OOOOOU % tho
enterprise without lien.
VI The grant of land il destined at an early
day 10 prove Of far greater market value than
the total of the first mortgage bonds issued
upon the road aud equipments.
VII. This road lies altogether among the gold
and silverProduCing regions and its revenues
are received in coin.
VIII. The management Of this company has
been in the highest degree prudent and frugal,
and the whole surplus after payment OF expense
! and interest II devoted 70 construction purpo-
ses
TX The interest liabilities Of the company
are even now less than a third the net earnings
upon the road pledged.
Y. Both Principal and IAtsres, are payabL IN
odd, under special provisions Of both National
and State enactment
The bonds are in sums Of 5000 each. with
miannual gold coupons attached, and are Of
fered for sale at % per cent Of their par value,
and accrued interest from Jan. {. aided, In cur
rency.
| The back interest IL charged at sir per cent.
| In currency though repaid in full IN gotd. At
this time they yield nearly
NINE PER CENT. EPOY THE TYVEST.
NENT.
These bonds bid fair TO attain the most yrOm.
inent position among the nOn-sBeculatiTs in