The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-02-11

Central Pacific Railroad First
Mortgage Bonds.
tits commonly known that the General Gov;
erumeut, for wise purposes, has given ITS AID
and announcement to the construction OF one
MAIN THROUGH LINE OF RAILROAD from the ia.
citc Ocean across the Territories TO connec'
with the various Eastern Branshes OF the IA
citic Railroad system, and which viii form the
GRAND TRUNK ROUTE TO the Far west
upon which the mighty trans-continental traihc
will concentrate.
The CENTRAL PACIFIC RAILROAD
are carrying 1t forward with
greater energy and persistence than was ever
shown in any similar work in ancient or modern
build, equip, own and control the
Western Half of this Through Line. the mOS'
productive. favored and valuable portion oil the
whole. and NAV Justly be regarded as possessing
the richest franchise ever granted ON this CONT
nent.
rations, besides the right of way across the Ter
ritories gift Of Il, sOO acres OF the public Iands
Der mile. contiguous to this line, and Gn appro'
priation from the National crecit OF Sixty NIL
LIONS in 6 FER CENT. BONDS, delNercu AZ Tue
work progresses; or halft estimated cost Of
the Through Line and Branches These sub
sidy bonds the company may cancel in course
of years by the Transportation services OF the
Roads. and n small per centage of their net carr.
iurs: 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, i0hieh
shall be the first claim upon the trhOle railroad prop.
srtv aud 10 otich the lien Of the GoTeriraeat shall
be subordinate, as 4 means OF more readily secur'
ing the remaining half of the capital for the con
structon; the equipments &c, being provided
out of the capital stock subscriptions and other
sOurces
The great CENTRAL PACIFIC RAILRoAD is there
fore, in an important sense, SEM'NATloNAL
WORK. aided and commended by the people, the
Legislative power, and the Executive officers;
though its management Is administered Uth al
u care and fOTsthoug Of the most eminent prtrdte
corporations. Being under the constant super
vision of the GOvernment-whO, being the pm
cipal creditor accepts subordinate and c0ntin.
al capital also invested in the property pledged
il is believed that no securities now offered In
the market possess the sane claims TO conn
dence and market value, except those OF the
Government.
Under these iavOring auspices very gratifying
progress has Jeen made in extending the railroad
track from both directions Nearly 1000 m lcS
of the Main Line and converging branches be-
tween the Missouri River and the base of the
Rocky Mountains have been built within three
wears. 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 the Sierra Nevada, and
into the Great Salt Lake Basin east of the Cali
iornia line. Having overcome 10y far the most
difficult and expensive portion OF the whOie
line, the probabilities of the through connection
with tho Eastern lines being effected in 1870
amount almost 20 certainty.
The prominent feature in the progress of the
CENTRAL Pacific RAILROAD il the remarkably
large and profitable Local Business which is de.
veiOped upon the completed portion, more than
iustifying the estimates Of it, pIoieCtors-that
the immense traffic between the ports of Cali
fOrnis and the mining regions of the into or
would sustain a hTst-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 mado 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
he conferred 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 theirFIIIST MORTGAGE
81 ~ a n
Il . n DIS, and submit to Investors the
following, among other obvious conSidera-
tons; and invite the comparison with the merits
and eXcellenciss Of any class Of Corporate sc.
curities:
/. These Bends are based upon the most ital
and valuable part of the Grand National Pacific
Railroad soon TO become the main channel OF
on the continent.
II. The local settlement and business there.
from ia remarkably large and profitable, and
must constantly increase.
III. The hardest part Sf the road ia now
built, and the remainder will be rapidly carried
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road is provided by the U. $. Gov
eminent upon subordinate lien.
" Ike State and chief cities Of California
have contributed upward Of g OOO,O 900 10 the
enterprise without lien.
VI. The giant Of land is destined at an early
day to prove of far greater market value than
the total of the first mortgage bonds issued
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,
and the whole surplus after payment of expense
and interest, is devoted 10 construction purpO-
ses.
TX. The interest liabilities Of the company
ara even now less than third the net earnings
upon the road pledged.
X. Both Principal and IEtereSt are PAYABLE in
Gold under special provisions Of both National
and State enastttient.
The bonds are in sums Of 1900 each. with
semi-annual gold coupons attached, and are Of.
fered for sale at 9j per cent. Of their par value
and accrued interest from Jan. 1. added In cur.
rency.
The back interest Is charged al six per cent
in currency, though repaid in foil in 00H A,
this time they yield nearly
VINE PER CENT UPON rHE INVEST.
HEYT
These bonds bid fair 90 attain the most srom.
tnent position among the nOu-speculatiVs in
vestmeuts Of the country and viii be actively
dealt in AZ the Money centres in Europe
Holders Of Government securities have an Cd.
portunity Of exchanging them for Central Pa.
chic Bonds bearing an equal rate Of interest
with the principal well secured, and Of
REALIZING A PROFIT or TEN TO FIF.
TEES PER CENT ~ ADDITION.
Orders sent with the funds through response
bic Banks or Express Companies will receive
prompt Attention Ronds he rafrr, p