The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-04-20
Central Pacific Railroad First
MOrtSag Bonds.

II Is commonly known that the General Gov
eminent, for wise purposes, has given its aid
and encouragement 20 the construction Of one
MAIN THROUGH LINE OF RAILROAD from the Pa
cihc Ocean across the Territories 20 connect
with the various Eastern Branshes Of the Pa
cidc Railroad system, and which viii form the
GRAND TRUNK ROUTE 10 the Far West
will concentrate.
The CENTRAL' PACIFIC RAILROAD
COMPANY-who are carrying il forward with
greater energy and persistence than was ever
shown IN any siVNilar work In ancient OF modern
times-will bui'u, equip 0wn and control the
Western Half of this Through Line, the most
productive, favored and valuable portion of the
whole, and may Justly be regarded rs possessing
the richest franchise ever granted on this CONT.
ncnt.
The Act Of Congress confers upon the Corpo
ratiOns besides the right of way across the Ter
ritories Gift Of l2 $40 acres of the rublic land.
per mile, contiguous TO this line and an appro
priation from the National credit of SIXTY NIL
LIONS in 6 PER CENT. BONDS, delivered rs the
work progresses; or half the estimated cost o.
the Through Line and Branches. These Sub
sidy bonds the company may cancel In course
Of years by the Transportation services Of tn,
Roads, and a small per centage Of their net earn
ings; they, therefore, constitute an element oil
great strength 10 the corporations.
The Act further authorizes them 10 issue IN
equal amount of their own First Mortgage
Bonds Of corresponding denominations, Iohicl
shall be the first claim upon the irhols railroad prop
erty, aud 20 ichieh the lien Of the Government shat
be subordinate, as q means Of more 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 othei
sources.
The great CENTRAL PACIFIC RAILROAD is there
fore In an important sense, q SEMn-NATIoSAI
WORK, aided and commended by the people, the
Legislative power, and the Executive officers
though its management ia administered Itfh al
the care and IOrethorght Of The most eminent prrah
corpOrdtiOnS Being under the constant super
viniOn Of the GOvernment--who being the prin
Cipal creditor, accepts subordinate and contin
gent licn-,with 30 large an amount OF addition
nj capital also invested in the property pledged
il is believed that no securities now offered in
tho market possess the zane claims TO conf
dcnce and market value, except those Of The
Government.
Under these favoring auspices very gratifying
progress has been made in extending the railroad
tTACk from DOIU ultfllOuh Nearly lbuu
of the Main Line and CenvergiDg Branches be
tween the Missouri River and the base Of tht
Rocky Mountains have been built within three
wears. The CENTRAL PACIFIC RAILROAD Ia
also steadily and successfully carried the Mali
Stem Line from tho steamboat navigation OF tn
Pacific 20 the summit Of the Sierra Nevada, an,
into the Great Salt Lake Basin east Of the Cali
fornia line Having overcome by far the mos
difficult and expensive portion of the who'll
line, the probabilities Of the through connection
with tho Eastern lines being effected In lS7t
amount almost TO certainty.
The prominent feature in the progress Of tn
CENTRAL PACIFIC RAILROAD Is the remarkabl,
large and profitable Local Business which N de
vcloped upon the completed portion, more thar
iustifyng the estimates of its Professionalism
the immense traffic between the ports Of Cali
fOrnia and the mining regions OF the mt o
would sustain a iirst-Class railroad line, even 4
the overland connections were not built. Thu
net profit upon operating the link Of less thar
one hundred miles, thus lar, reaches nearly tive
millions in gold; and this ratio will be doubled
during the coming season, when the entire
monntaiR transit II made by the locomotive
With every extension Of the track, the businesi
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
pondingly. The CENTRAL Pacific RAILEeAI
COMPANY offer for sale theirFIIIST MORTGAGE
THIRTY.YEAR SIX PER CENT. COLL
BONDS, and submit TO Investors TIE
following. among other obvious coDsidera
tons; and invite the comparison with the merit
and eIcellences Of any class OF Corporate 40
eurities:
I. These Bendsare based upon the most vita
and valuable part Of the Grand National Pacib'
Railroad soon 10 become the main channel o
communication on the continent
II. The local settlement and business there
from is remarkably large and profitable, an
must constantly increase.
III. The hardest part Of the road IL nov
built and the remainder will be rapidly carries
forward over the Salt Lake Plains.
". The greatest part Of the means necessar.
TO build the road Is provided by the U. $. Gov
eminent upon subordinate lien.
V. TIE State and chief cities Of Califorai
have contributed upward Of DWO,O0 70 tn
enterprise without lien.
VI. The grant OF land IL destined at an earl,
day 10 prove of far greater market value thai
the total Of the first mortgage bonds issues
upon the road and equipments.
VII This road lies altogether among the gOl'
and silver-prOduc!ng regions, and its revenue
are received in coin.
VIII. The management Of this company ha
been In the highest degree prudent and frugal
and the whole surplus after payment OF eIpeEs
and interest, il devoted 20 construction purpc
ses.
TX. The interest liabilities Of the compan
are even now less than a third the net earning
upon the road pledged.
X Both Principal and IntsreSt are pdyoJk I
Gold, under special provisions Of both Nations
and State enactment
! The bonds are In sums Of 5000 each, wit
semi-annual gold coupons attached, and arc Of
fered for sale at 95 per cent OF their par vaiut
and accrued interest from Jan. ], added, In euI
rency
The back interest IL charged at six per cent
| In currency. though repaid In full In geld. A
this time they yield nearly
NINE PER CENT UPoY THE TyTESi
NEWT
These bonds bid fair TO attain the most Yron
| inent position among the n0nHpeculatiys L
! vestments Of the country, and win be astivel
I dealt in at the msney-ceDtres In Europe.
! Holders Of Government securities have an o
pOrtunity of exchanging them for Central P
! cifc Bonds bearing an equal rate Of interes
/ with tie principal well secured, and Of
REALIZING A PROFIT OF TEN TO YL
TEEN PER CENT. IN ADDI17oE.
o.5.-. -. ,-f4L AZ. fax fhyou0h reSF,Ous