The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-12-31
Central Pacific Railroad First
Mortgage Bonds.

1t is commonly known that the General Gov
eminent for wise purposes, has given It's aid
and encouragement to the construction Of one
MAIN THROUGH LINE OF RAILROAD from the Pa
oitic Ocean across the Territories 20 connect
with the various Eastern Branshes of the Pa
eifc Railroad system, and which will form the
GRAND TRUNK ROUTE 30 the Far West
upon which the mighty trans-cOntinentAl traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
C0MPANY-who are carrying IL forward with
greater energy and persistence than was ever
shown in any siRdlsr work in ancient OF modern
times-will buiIa, 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 conters 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.
priation from the National credit of sixty NIL
LIONS in PR CENT. BONDS, delivered as the
work progresses; or half the estimated cost al
the Through Line and Branches. These Sub
sidy bonds the company may cancel In n ceurse
of years by the Transportation services OF the
Roads, and q small per centage Of their net earn
ings; they, therefore, consulate an element OF
great strength 10 the corporations.
The Act further authorizes them TO issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, tChieA
shall be e first claim upon The t0hole railroad prop
eTt aud 10 tohieh The lien Of the Government shall
be subordinate as q means Of more readily secur.
ing the remaining half Of the capital for the con.
struction; the equipments, 90, being provided
out of the capital stock subscriptions and other
sources.
The great CENTRAL Pacific RAILROAD Is there.
fore in an important sense, n SRSiI'NATioNAL
WORK, aided and commended by the people, the
Legislative power, and the Executive officers,
though its management ia administered tsith az
The care aud fOrethOught OF the most eDet pirate
corporations. Being under the constant super
vGion of the Government--who, being the prin'
cipal creditor, accepts subordinate and contin.
gent lien-with so largo 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 conn.
dence and market value except those Of the
Government.
Under these favoring aqsRtefNa YifEY AZ Shiif6ad
track from both directions. Nearly inOn miles
OF the Main Line and cOnyeTglng branches be
tween the Missouri River and the base Of tho
Rocky 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 tho Sierra Nevada, and
into the Great Salt Lake Basin east Of tin Cali.
fOrnia line. Having overcome by far the most
difficult and expensive portion of the whole
line, the probabilities of the through connection
with tho Eastern lines being effected In $50
amount almost 20 certainty.
The prominent feature In the progress Of thu
CENTRAL PA IFIC RAILROAD Ia the remarkably
large and profitable Local Business which II de.
velOped upon the completed portion more than
iustifying the estimates of its pIojoctors-that
the immense traffic between the ports Of Cali.
fornia and the mining regions Of the inter OF
would sustain trst-class railroad line, even n
the overland connections were not built. The
net profit upon operating tho 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;
80 that when the overland through traffic shah
be centered upon the CENTRAL ROAD, the gen.
eral prosperity Of tho company will be without
parallel and its securities appreciated cores
CoMPANY offer for sale theirFIkST MORTGAGE
THIRTY. YEAR SIX PER CENT. GOLD
B ON DS and submit 10 Investors tire
following among other obvious cOnsidera-
tons; and invite the comparison with thoinerits
and eKcelencies Of any class Of Corporate re.
surities:
/. These Bonds are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad, soon TO become the main channel Of
on the continent.
H. The local settlement and business there.
from is remarkably large and profitable, and
must constantly increase.
III. The hardest part OF tho road Ia 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 tho U. b. Gov.
eminent upon a subordinate lien.
V. The State and chief cities Of California
have contributed upward Of fJ,OOOODO 10 the
enterprise without lien.
VI The grant Of land Is destined at an early
day 10 prove Of far greater market value than
the total Of the FIRST mortgage bonds issued
upon the road and equipments
VII This road lice altogether among the gol
and slyerproduoing 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, IL devoted 20 construction purpO-
ses.
TX. The interest liabilities Of the company
are even now less than a third the net earnings
upon the road pledged.
x. Both Principal and TntSTeSt are payaB< 70
Gold, under special provisions Of both Nations
and State enactment.
The bonds are in sums Of 5000 each, With
fered for sale At % per cent. Of their par vxue,
and accrued interest from Jan. !, ADDED, in cur.
rency.
The back interest Il charged At SKIP cent
in currency, though repaid Ia full In gid.
this time they yield nearly
NINE PER GEM. CPOy THE B'VEsr
HEYT
Thee bonds lid fair 70 attain the mOst prom
ineBt position among the nOnEBeculatiye IN
vestmeuts Of the country and will be aStvsly
dealt IN At the msney-eeHtres in Europe.
Holders Of Government securities have an op-