The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-12-21
Central Pacific Railroad First
Mortgage Bonds.

II is 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
citic Ocean across the Territories 20 connect
with the various Eastern branshes Of the Pa
citc Railroad system, and which will firm the
GRAND TRUNK ROUTE 20 the Far West,
upon which the mighty trans-continental trafiis
viii concentrate.
The CENTRAL PACIFIC RAILROAD
CONPANY-who are carrying it forward with
greater energy and persistence than was ever
shown IN any siV'ilar work in ancient or modern
times-will bui'r, equip, own and control the
Western BALI Of this Through Line. tho 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 confers upon the Corpo-
ratiOns, besides the right Of way across the Ter
ritories gift Of - 500 acres OF the public lands
per mile contiguous 10 this line, and an appro.
pnation from the National credit of sixty NIL.
LIONS in PRR cENr. BONDS, delivered ~ hs
work progresses or half the estimated cost q
the Through Line and Branches. These Sub.
sidy bonds the company may cancel in . course
of years by the Transportation services Of tbs
Roads and a small per centage OF their net earn.
ings they, therefore, consulate an element Of
great strength 10 the corporations.
The Act further authorizes them 70 Issue IN
equal amount of their own First Mortgage
Bonds of corresponding denominations aeAieA
sAdl BE- the Grst claim upon As trAOls raiirOadprvy
erty aud 20 tohieh TIE lien Of The Government sAaI
be subordinate, rs q means of moro readily seeufs
ing the remaining half Of the capital for the CON
struction; the equipments, &C, being provided
80 Il
sources.
The great CENTRAL PACIFIC RAILROAD Is there.
fore, in an important sense, = SEbu NATIONAL
WORK aided and commended by the people the
Legislative power, and the Executive otfioerz
though lis management Is administered toiubau
the care AID JOTethOuJh Of he most sirnt pr rats
corporations. Being under the constant super
visiOn Of the Goyernment-who, being tho pFin'
cipal creditor, accepts subordinate and contin
gent lien-with 40 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 20 conn.
dence and market value, except those OF the
Government.
Under these favoring auspices very gratifying
progress has been made in extending the nilToad
track from both directions. Nearly 1000 miles
Of the Main Line and cOnverging Branchos be
tween the Missouri River and tho base OF the
Rocky Mountains have been built within three
years The CENTRAL Pacific RAILROAD has
also steaduy 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 TIN Call.
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 1919
amount almost 10 certainty.
The prominent feature In the progress Of tho
CESTRAL PA IFIC RAILROAD IL the remarkably
large and profitable Local business which 10 de.
velOped upon the completed portion, more than
iuBtifying the estimates of it, professionalism
the immense traffic between the ports Of Cali
fornia and the mining regions Of the int,' OF
would sustain hrstclaAH railruad line, even q
the overland connections were not built. Tho
net profit upon operating the link Of less than
one hundred miles, thus far, reasbes nearly two
millions in gold: and this ratio will be doubled
during the coming season, when the entire
mountain transit IL 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 shah
be centered upon the CENTRAL ROAD, the KeH.
eral prosperity Of the company will be without
parallel, and its securities appreciated cores
pOndingly. The CENTRAL PACIFIC RAILROAD
CoNPANl offer for sale theirFIhST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
BONDS and submit 10 Investors ire
following, among other obvious oonsidera-
tons and invite the comparison with the merits
and eIcellencies Of any class Of Corporate 10.
surities:
l. These Bonds 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.
II. The local settlement and business there.
from IN remarkably large and profitable and
must constantly increase.
III. The hardest part Of tho road II now
built, and the remainder will be rapidly carried
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
n build the road IL provided by the u. y. Gov.
eminent upon a subordinate lien.
V. The State and chief cities Of California
have contributed upward Of t3,OOO,0O0 10 the
enterprise without lien.
VI. The grant Of land Ia destined al Al early
day 20 prove Of far greater market value than
the total Of the first mortgage bonds issued
upon tho road and equipments.
VII MS TVal llfA Altpgetler among the gold
and silver producing 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, 10 devoted 10 construction purps
see.
TX. The interest liabilities Of tho company
arr even now less than a third the net earrings
upon the road pledged.
K Both Principal and Tn,>r,St ar, payatL IN
God, under special provisions Of both Nations
and State enactment.
The bonds arc In gums Of 1900 each. with
semi annual gold coupons attached, and are u.
fsred for sale at % per cent. Of their par vsus.
and accrued interest from Jan. j. added, In eur.
rency.
In .,,SySSsev. though repaid in full in goH. A
this time they yield nearly
NINE PER OES1 UPON TIE IYyRsY
KgYT
Thsss bobdsb bid fair 10 attain The mast yroru-
ibsnt position among the B0nzDeeulative in
Of the country, and Win b astivsly
dealt IN AZ The Dsnsy centres In Enrupe.
Holders OF Government securities have an On.
portuDity Of exchanging them fer Central Pa
cihe BODds bearing equal rxts Of interest
with the principal well secured, ssdof
4 PROFIT or TEN TO ZIP
TEEN PER CEgL IN ADDITION.