The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-10-16
Central Pacific Railroad First
Mortgage Bonds.

II is commonly known that the General Gov.
ernmOnt for wise purposes, has given its aid
and encouragement o. the construction OF one
MAIN THROUGH LINE or RAILROAD from the Pa
citc Ocean across tho Territories 20 connect
with the various Eastern branches OF the Pa
cihc Railroad system, and which will form the
GRAND TRUNK ROUTE to the Far West
upon which the mighty trAns-continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-vho are carrying 10 forward with
greater energy aud persistence than was ever
shown in any sR,ilar work in ancient or modern
times-win builn, equip own and control the
Western HAlf Of this Through Line. the most
productive favored, and valuable portion OF the
whole. and may Justly be regarded a. possessing
the richest franchise ever granted ON this CONT
nent
The Act Of Congress oonfsrs upon the Corpo-
rations besides the night of way across the Ter.
ritories gift Of ~ 800 acres OF the public lands
per mile contiguous 10 this line, and m appTo.
priation from the National credit Of sixty NIL
LIONS in 8 FKR eEST. Boxns, delivered ~ tho
work progresses; or half the estimated cost OF
the Through Line and Branches. These Sub
sidy bonds the company may cancel In a course
Of years by the Transportation services Of the
Roads and small per ceutage Of their net earn.
ings they, therefore, constitato an element Of
great strength TO the corporations,
The Act further authorizes them TO issuo
equal amount of their own First Mortgage
Bonds of corresponding denominations, 'chIcA
shall be the first claim upon he tchos railroad prop
erty aud % iOhich The len Of ne Government shGA
be subordinate, rs q means Of moro readily secur
ing the remaining half Of the capital for the con-
struction; tho equipments, &c, being provided
out Of the capital stock subscriptions and Other
sources.
The great CENTRAL PAciFIc RAILROAD IL there.
fore In an important sense, q SEMl- NATIONAL
WORK aided and commended by the people, tho
Legislative power, and tho Executive officers,
though its management IA administered toth all
the care and IorethOugAt Of uhc most eminent pirate
corporations. Being undaT the constant super
vimon of the GOvernment-who being the prin'
cipal creditor. accepts subordinate and contin'
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
tho market possess tho same claims 10 conn.
donce and market vrlue, 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 aud conVorging Branches be-
tween the Missouri River and the base OF the
| Rocky Mountains have been built within thTco
also steadlIy and successfully carried the Main
Stem Line from the steamboat navigation Of tho
| Pacific 10 the summit of tho 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 whole
line the probabilities Of the through connection
with the Eastern lines being effected In 1870
amount almost 20 certainty.
The prominent feature In the progress Of the
CENTRAL PA INC RAILROAD Is the remarkably
large and profitable Local business which In de-
velOped upon the completed portion more than
ustifying the estimates Of ia projectors-that
the immense traffic between tho ports Of Cali
fornia and the mining regions Of the inter ~
would sustain frstc class railroad line, even II
the overland connections were not built. Tho
net profit upon operating the link Of less thar
one hundred miles, thus far, reashes nearly two
millions In gold; and this ratio will DO doubled
during the coming season, when the entire
mountain transit IL made by the locomotive.
With overy extension Of tho track, the business
| and profits Of the completed part are increased;
| 40 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 its securities appreciated CORES.
| pondngy. The CENTRAL Pacific RAIIReAD
| CoMPANY offer for sale boirFlhST MORTGAGE
THIRTY YEAR SIX PER CENT. GOLD
BONDS and submit 10 Investors tire
| following among other obvious cOnsdora-
tions; and invite the comparison with the merits
and eKcellencirs Of any class Of Corporate So
| eurities
]. These Bonds are based upon the most vital
and valuable part Of tho Grand National Pacific
Railroad. soon TO become tho main channel Of
! communication on the continent
II. The local settlement and business there
| from u remarkably large and profitable and
must constantly increase.
III. The hardest part Of tho road Ia now
built. and the remainder will be rapidly carrie d
forward ever the Salt Lake Plains.
". The greatest part Of tho means necessary
10 build the road IL provided By tho U. ,. Gov
eminent upon subordinate lien.
| V. Tho State and chief cities Of California
have contributed upward 81 tJOOO,OOO 10 the
enterprise without lion.
VI. The grant Of land IL dastised at an early
day 10 prove II far greater market value than
the total Of the first mortgage bonds Issued
upon the road and equipmsnts
VII This road lies altogether among the gold
and ver.producing regions, and its revenues
are received In coin.
VIII The management Of this company hAi
been In the highest degree prudent and frugal
and the whole surplus, after payment Of sIpens'
and interest, IL devoted 10 construction purps
sss.
TX. Tho interest liabilities Of the COMPANY
are even now less than a third the net eariinE'
upon the rad pledged.
X. Both Principal and Ial<rest are Dayabk 20
Gold under special provisions Of both hAti'nA
and STATE enactment.
The bonds are In sums OF 1900 each. viii
> semi annual gold coupons attached, and are "i
fered for sale at % per cent. OF their par fAIue
: and accrued interest from Jan. J. ADDED In cur
4 rency.
The baek interest Il charged at siI per cent
! T., l,,S,SI1,I tbo1gh repaid 10 full iB gotd.
!. this time they yield nearly
!. yIyE PER OgST IRON THE INVEST
HEgT
! Thee bonds bid fair 70 attain the most PROM
lbsnt position among the nOnspsculatiys In
vestmsnts Of the country, and viii b. aStiysl
dealt in at the msnsy centres In Europe.
Holders Of Government securities have an Op
portunity Of exchanging them for Central p
cihe Bonds bearing an equal rate Of interest
With the principal vel secured and Of
: REALIZING A PROFIT or TEN TO III
: TEEN PER CENT IN ADDITION.