The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-05-01

Ii is commonly known that the General Gov.
ernmOut, for wise purposes, has given It's AID
and encouragement 70 the construction OF one
MAIN THROUGH LINZ OF RAILROAD from the Pa
citic Ocean across the Territories 90 connect
with the various Eastern branches OF the Pa
ciic Railroad system, and which viii form the
GRAND TRUNK ROUTE 70 the Far West,
upon which the mighty traRs'continentAl traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-Who arS carrying IL forward with
greater energy and persistence than was ever
shown in any sivlilar work in ancient or modern
times-will buila, equip, ewn and control the
Western half 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 confeTs upon the Gorpo-
rations, besides the right Of way across the Ter
ritories GIFT of - SO acres OF the public lands
per mile contiguous TO this line, and TN appro.
priation from the National credit Of Sixty NIL
LIONS in PER CRNT. RoNDs delivered as the
work progresses; or half the estimated cost Of
the Through Line and Branches. These Sub
sidy bonds the compsny may cancel in a course
of years by the Transportation services OF the
Roads and small per centage Of their net carr.
ings they, therefore, consulate an element OF
great strength 10 the corporations
The Act further authorizes them TO issue an
equal amount Of their own First Mortgage
Bonds of corresponding denominations, irhieh
shall be the first claim upon he IchOle railroad prop
eTty aud 10 Iol.ieh tie lien Of the Government shall
be subordinate, as n means Of more readily secur
ing the remaining half Of the capital for the con
stTuction, 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, 4 SBhI'NATioNAL
WoRK. aided and commended by the people, the
Legislative power, and the Executive officers,
though its management is Administered Hih al
the care and JOTetk0ght Of he most eHIent PIRATE
corporations. Being under the constant super
yiaiOn Of the GOvernment-who, being the prln'
cipal creditor, accepts subordinate and contin'
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 conn.
dence and market value, except those Oi 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 c0nvergtng branches be-
| tween the Missouri River and the base Of the
Rocky Mountains have been built within three
wears 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, aud
| 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 the Eastern lines being effected in l-7O
amount almost TO certainty.
| The Prominent feature In the progress Of the
| CENTRAL Pacific RAILROAD Is the remarkably
| large and profitable Local Business which IL de-
veloped upon the completed portion, more than
| iustffying the estimates Of rs prOjeCtors-that
| the immense traffic between the ports Of Cali
| fOrnia and the mining regions OF the int az
would sustain 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 be doubled
during the coming season, when the entire
mOuntaiR transit Is made by the locomotive.
With every extension Of the track. the business
and profits Of the completed part are increased;
| 70 that when the overland through traffic shall
be conferred upon the CENTRAL ROAD, the gen
! eral prosperity Of the company will be without
parallel, and it, securities appreciated cores
pondingly. The CENTRAL PACIFIC RAILRsM
COMPANY offer for sale theirFIhST MORTGAGE
| THIRTY YEAR SIX PER CENT. GOLD
BONDS, and submit 10 Investors the
following, among other obvious considera-
tions and invite the comparison with the merits
| and eNcellencies of any class OF Corporate ~
Surites:
! l. These Bends are based upon the most vital
| and valuable part Of the Grand National Pacific
| Railroad soon 10 become the main channel OF
communication ON the continent
IL. The local settlement and business there
from is remarkably large and profitable, and
must constantly increase.
III. The hardest part Of the road ia nov
built and the remainder viii be rapidly carried
forward over the Salt Lake Plains.
". The greatest part OF the means necessary
20 build the road Is provided by the L. s. Gov
eminent upon a subordinate lien.
| V. The State and chief cities Of CaliIorHis
have contributed upward Of tJ.OOo,01O 70 th'
enterprise without lien.
VI. The grant Of land is destiged at an early
day % prove of far greater market value thar
the total Of the first mortgage bonds issued
upon the road and equipments.
VII. This road lies altogether among the god,
and silver'produGing regions, and its revenus
are received in coin
VIII. The management Of this company la
been in the highest degree prudent and frugal
and the whole surplus, AFTER payment Of eIpenr'
and interest, Is devoted 20 construction purpd
ses.
TX. The interest liabilities 0f the eOnpan,
:. are even now les than third the net earning
upGn the road pledged.
Y Both Prineipal dAd IRisTesf are Day9Ll> 1
Gold, nndeT special provisions Of both Nations
and State enactment.
I The bonds are IN sums Of 5000 each. Wit
ssmi-annGzl gold coupons attachsd and arc oi
feFed for aale at 95 per cent Of their par Valus
and accrued interest from Jan !, ADDED, In cur
rency.
The back interest Il charged At siI per cent
In currency though repaid IN fan IN Oold &
This time they yield nearly
NINE PER CENT UPoy THE TSTEgi
. MESL
:
These bonds ND fair 70 attain the most prou
: inent position aEnOng the non speculative IA
n md H. II