The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-10-17
Central Pacific Railroad First
Mortgage Bonds.

1t is commonly known that the General Gov.
ernmsnt, for wise purposes. has given its aid
and encouragement 10 tho construction OF one
MAIN THROUGH LINZ or RAILROAD nom the Pa
cifc Ocean across the Territories 20 connect
with the various Eastern branshes OF tho Pa
citc Railroad system, and which will form the
GRAND TRUNK ROUTE 20 the Far West,
upon which the mighty transcontinental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-who are carrying 10 forward with
greater energy and persistence than was ever
shown in any sPNilar work In ancient or modern
times-will bui'n, equip, ewn and oontrol the
Western Half OF this Through Line. the most
productive, favored and valuable portion Of the
whole, and may Justly be regarded ~ possessing
the richest franchise ever granted on this cont.
nent
The Act Of Congress sonters upon the Corpo-
rations, besides the right of way across the Ter.
ritories GIFT of ~ sou acre OF the public lands
per mile, contiguous q this line, and sn appro-
pnation from the National credit OF sixty MIL
LIONS in 6 PER CENT. BONDS. delivered as the
work progresses; or half tho estimated cost OF
the Through Line aud Branches These Sub
sidy bonds the company may cancel In q course
Of years by the transportation services Of tho
Roads, and small per centaye Of their net earn.
lngs, they, therefore, consulate 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, pAieA
shall bs the fTEt cdta upon tie uh0le railroad prop
erty and 20 tohieh the lien Of he Government sAal
be subordinate, a means OF more readily secur.
ing the remaining half Of che capital for the CON
struction; the equipments, 30, being provided
out Of the capital stock subscriptions and other
sources.
The great CENTRAL PAcuIe RAILROAD is there.
fore in an important sense a SEMI.NATioNAL
WORK, aided and commended by the people tho
Legislative power, and the Executive officers,
though its management is cdJntpistered Wth az
the carr and TorethOu0h u the most eminent pirate
corporations. Being under the constant super
vioion Of the Govornment--who, being the prin'
cipal creditor, accepts subordinate and contin'
gent lien-with 80 large an amount oil addition
al capital also invested In the property pledged,
IL II believed that securities now offered In
the market possess tho aane claims % conh'
drnce and market vHlue, except those OF the
Government.
Under these favoring auspices very gratifying
progress has been made in extending the railroad
track frum both directions Nearly 1000 miles
of the Main Line and oonverginE branches DO
tween the Missouri River and the base of 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 TO the summit of tho Sierra Nevada, and
nip chs, Great sal, IaKe basin est OF the Cali.
| fornia line Having overcome by far the most
iIHo, the probabilities Of tho through connection
with tho Eastern lines being ELECTED In 1870
/ amount almost 20 certainty.
The prominent feature In the progress Of the
CRNTRAL PA TIC RAILROAD Ia the remarkably
large and prohtab Local Business which IL dc.
yeloped upon the completed portion. moro than
| iustifyinR the estimates OF its piojectors-that
the immense traffic between the ports Of Cali
fornia and the mining regions OF The int or
would sustain tirst-class railroad line, sven II
the overland connections were not built. Tho
net profit upon operating the link Of less than
| one hundred miles, thus far, reashes noarly two
millions in gold; and this ratio will be- doubled
during the coming season, whom the entire
mountain transit IL made by tho locomotive.
With every extension OF the track, the business
| and profits OF the completed pat are Increased;
40 that when tho overland through traffic shall
| be conferred upon the CENTRAL ROAD the gen.
eral prosperity Of the company will be without
parallel, aud It's securities appreciated cores
pondingiy. The CENTRAL PAcTYic RAILRsAD
! CoMPANY offer for sale theirFiIIST MORTGAGE
THIRTY YEAR SIX PR CENT. GOLD
BONDS, and submit 10 Investors tae
following, among other obvious oOnsiders-
tiOns: and invite the comparison with the merits
and oIcellenoies Of any class Of Corporate no
Gurities'
| / These Bonds are based upon the most vital
| and valuable part Of the Grand National Pacific
| Railroad. soon 10 become tho main channel Of
communication on the continent
III. The local settlement and business there.
from Is remarkably large and profitable. and
must constantly increase.
III. The hardest part Of tho road Il now
built and the remainder will be rapidly earned
forward ever the Salt Lake Plains.
" The greatest part Of the means necessary
10 build the road Ia provided by tho U. b. Gov.
eminent upon a subordinate lien.
i v. The State and chief cities Of California
have contributed upward 81 t1OOo,O00 10 the
enterprise without lien.
! VI. The grant Of Land r. destiHed a. an early
day IN prove Of far greater market value IMAM
the total Of the first mortgage bonds Issued
upon the road and eqnipmsns
VII. This road lies altogether among the gold
and silver prod uning regions, and its revenues
are received In coin.
VIII. The management Of this ooupsny has
been In the highest degree prudent and frugal,
and the whole surplus. after payment OF erpsnss
and interest, IL devoted 10 construction purps
ses
TX. The interest liabilities Of The company
arc even now les than q third the net ezrhinEs
upOn the road pledged.
X. Both Principal and In,>ysa are peya1L IN
Gold, under special provisions Of both National
and STATE enactment.
The bonds are In sum. Of 1900 each. with
> semi annual gold coupons attached, and arc OF
fersd for sale At 95 per cent Of tnslT paf 'aus'
: and accrued interest from Jan. ]. sdAsd' ID eVp
4 rency.
The hack interest Il charged a siI per esst
!. In ,,,yyonnJ though repaid In fun iH g''1' n
/. this time they yield nearly
d y,rr PEE GENT UPoS THE INVEST
These bonds BID fair 10 attain the most prom,
Insut position among the nonSpeeulatiys In
vestmsnts Of the country, add Win Be sstively
dealt IN AZ the mSD~y -osBtrss In EUROPE.
HOldsrs Of Government soearifiss have an Op
portunity Of exchanging them for Central Pa
else Bonds bszEinE 40 equal rate Of interest
,. With the principal wen secured, and Of