The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-08-18

1t is commonly known that the General Gov
ernmsnt for wise purposes, has given it, aid
and encouragement 20 the construction of one
MAIN THROUGH LINE or RAILROAD from the Pa.
cihc Ocean across tho Territories 70 connect
with the various Eastern Branshes of the Pa.
cihc Railroad system, and which will form the
TRUNK ROUTE TO the Ear West,
upon which the mighty traRs-continental traffic
will concentrate.
The CENTRAL Pacific RAILROAD
are carrying IL forward with
greater energy and persistence than was ever
shown IN any siu,ilar work in ancient or modern
times-WlIi oni.n, 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 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 tho Ter.
ritories, gift Of IL 500 acres OF the public lands
per mile, contiguous 70 this line aud an appro
pration from the National credit Of SIXTY NIL.
LIONS in PER CENT. RoNDs, delivered a. the
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 a small per centage of their net earn
.
great strength TO the corporations.
The Act further authorizes them TO issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, trhich
shall be the first claim upon The 'rhOLe railroad prop
erty, and % Ichich The hen 81 The Government shall
be subordinate, rs means of more readily secur.
ing the remaining half Of the capital for the con
struction; the equipments, &c, being provided
& ha IL atN ,ha. ,hax
sources.
The great CENTRAL Pacific RAILROAD is thero.
fore, in an important sense, u SEMI NATIONAL
WORK, aided and commended by the people the
Legislative power, and the Executive officers,
though its management Ia administered 10Th al
the care and JoretOght u s most eminent pirate
corporations. Being under the constant super
viGiOn of the Government-who being the prn'
cipal creditor, accepts a subordinate and contn.
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 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 Converging Branches 10.
tween the Missouri River and the base of the
Rocky Mountains have been built within three
years The CENTRAL PACIFIC RAILROAD has
also stcaGuy and successfully carried the Main
Stem Line from the steamboat navigation of the
Pacific to 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 tho whole
line the probabilities of the through connection
with the Eastern lines being effected in ls7O
amount almost to certainty.
The prominent feature in the progress Of the
CENTRAL PA lF1C RAILROAD Ia the remarkably
large and profitable Local Business which liz de
veloped upon the completed portion, more than
iustifying the estimates Of it, proieCtOTs-that
the immense traffic between the ports Of Cali
fOrnia and tho mining regions of the int'I Oi
would sustain a hrstClass railroad line, Oven II
the overland connections were not built. Tho
net profit upon operating the link of less than
one hundred miles, thus far, reashes nearly two
millions in gold: and this ratio will he 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
80 that when the overland through traffic shal
be centcred upon the CENTRAL ROAD, the gen
eral prosperity of the company will be without
parallel, and its securities appreciated CORES
pondngly. The CENTRAL PACIFIC RAILRSAI
COMPANY offer for sale theirFIkST MOKTGAGE
THIRTY YEAR SIX PER CENT. COLL
BON IS, and submit 20 Investors ta'
following, among other obvious considers
tons: and invite the comparison with the meriti
and eHCellenc.s Of any class OF Corporate re
curities:
J. These Bonds are based upon the most vita
and valuable part of the Grand National PaciB'
Railroad. soon TO become the main channel o
communication on the continent.
II. The local settlement and business Their
from ia remarkably large and profitable, an
must constantly increase.
III The hardest part Of the road Is nov
built. and the remainder will bs rapidly carrie
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road Is provided by the L. ). Gov
eminent upon a subordinate lien.
V. The State and chief cities Of CalfoIni
have contributed upward Of B,UD,UO 10 tb
enterprise without lien.
VI. The grant Of land Il destined at an earl!
day 20 prove Of far greater market value thar
the total Of the first mortgage bonds Issue
upon the road and equipments.
VII. This road lies altogether among the gol'
and silver. producing regions, and its revenue
are received in coin.
VIII. The management Of this company ba
been in the highest degree prudent and fruga
| and the whole surplus, after payment Of eKpons
and interest, is devoted 10 construction purp'
ses.
TX. The interest liabilities Of the eOmpan
| are even now less than q third the net earning
upon the road pledged.
X. Both Principal and IHt>ret ar, pdyaLLe
Gold. under special provisions Of both Nation
and State enactment.
The bonds are in sums Of 1900 each, vii
seni-aunual gold coupons attached, ana arc o
fered for sale at % per cent. Of their par VAIN
and accrued interest from Jan. !, ADDED In Gu
rency.
The hack interest &. charged at six per Ger
in euyTency though repaid In full in god.
this time they yield nearly
VINE PER CENT. UPON THE IyVES
HEST.
These bonds bid fair TO attain the most pro
inent position among the nOp-speeuiztiys
vestInents Of the country, and will be nsbvt
dealt in at the msnsy centres in Europe.
Holders Of Government securities have an Q
pOrtunity Of exchanging them for Contra!
cihe Bonds bearing an equal rate Of iDtsre'
with the principal well secured. and Of
REALIZING A PROFIT OF TEN TO ~
TEEN PEE CENT N ADDITION.
Order. ..ut With tie funds through respSn