The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-02-15
Central Pacific Railroad First
Mortgage Bonds.

II is commonly known that the General Gov
ernmOut, for wise purposes, has gwen lts AT
and encouragement to the construction OF on
MAIN THROUGH LINE OF RAILROAD from the IA
citic Ocean across the Territories 70 conuec
with the various Eastern brAnshes of the Pa
cific Railroad system. and which will form thu
GRAND TRUNK ROUTE to the Far west
upon which the mighty trsns-continental trafh'
will concentrate.
Tho CENTRAL PACIFIC 'RAILRoA I
COMPANY-who are carrying IL forward WIZ
greater energy and persistence than was eve
shown in any similar work in ancient or modern
times-will build equip, own and control tht
Western Half of this Through Line. the mos
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 II 800 acres or the public lands
per mile, contiguous to this line, and en- appro
priation from the National credit of sixty NIL
LIONS In FIR CENT. RoNps, delivered as the
work progresses; or half the estimated cost oil
the Through Line and Branches. These Sub
of years by the Transportation services OF the
Roads. and small per centage Of their net carr,
ings they, therefore, constitute an element oil
great strength 10 the corporations.
The Act further authorizes them to issue an
equal amount of their own First Mortgage
Bonds Of corresponding denominations, ioh'eh
shall be the first claim upon The tchOtc railroad prop,
erty aud 10 ichich UtS lien Of The Government shdA
q awAn Ia
ing the remaining half of the capital for the con.
struCtiOn; the equipments. &C. being provided
ont of the capital stock subscriptions and other
sources.
The great CENTRAL PACIFIC RAILROAD Is there
fore, in an Important sense, SEAl'NAIlONAL
WORK aided and commended by the people, the
Legislative power, and the Executive officers.
though its management Is administered Hih all
the care aud GOrethOugh Of the most eminent pirate
corporations. Being under the constant super
vision of the GOvernment-whO, being the prin'
cipal creditor, accepts a subordinate and contin'
gent lien-with so large an amount Of addition.
al capital also invested in the property pledged
IL II believed that no securities now offered in
the market possess the san claims to conf
dence and market value, 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 and convergiUg Branches be.
tween the Missouri River end the base Of the
RsCky 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 10 the summit of the 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 10 certainty.
The prominent feature in the progress Of the
CENTRAL Pacific RAILROAD IA the remarkably
large and profitable Local Business which il de.
yeloped upon the completed portion, more than
iustifying tue estimates Of its pTojectOrs-that
the immense traffic between the ports Of Cali.
fornis and the mining regions Of the intrI or
would sustain a 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
mountain transit Is 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 shall
be centered upon the CENTRAL ROAD the gen.
eral prosperity Of the company will be without
parallel, and its securities appreciated CORES
pondingly. The CENTRAL PACIFIC RAILROAD
COMPANY offer for sale theirFIkST MORTGAGE
SIX PER CENT. GOLD
Is ON DIS, and submit TO Investors tire
following, among other obvious considera.
tons; and invite the comparison with the merits
and eIcellencies Of any class Of Corporate se.
curities
/. These Bends are based upon the mor; vital
al d.
Railroad. soon TO become the main channel Of
on the continent.
Il The local settlement and business there
from is remarkably large and profitable, aud
must constantly increase.
III. The hardest part VI tho road il 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 Is provided by the L. s. Gov
upon subordinate lien.
V. Ike State and chief cities Of California
have contributed upward Of 80 OOO.O0 70 the
without lien.
VI The grant Of land Is destiEed as an early
day 70 prove Of far greater market valne than
the total Of the first mortgage bonds l.sued
upon the road and equipments.
VII. This road lies altogether 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,