The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-06-12
Central Pacific Railroad First
Mortg age Bonds.

1t Is commonly known that the General Gov
eminent, for wise purposes, has given its ali
and encouragement TO the construction Of on
MAIN THROUGH LINZ OF RAILROAD from the Pa
ciic Ocean across the Territories 70 cOnuec
with the various Eastern Branshes Of the Pa
cific Railroad system and which win form thu
| GRAND TRUNK ROUTE 10 the Far West
upon which the mighty traRs-continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
| COMPANY-who are carrying IL forward will
greater energy and persistence than was evel
shown in any sip,ilar work in ancient or modern
| times-will build, equip, own and control the
Western Half of this Through Line. the most
productive, favored, and valuable portion OF the
whole. and may Justly DO regarded as possessing
the richest franchise ever granted ON this CONT
| nent.
The Act of Congress confers upon tho Corpo
| ratiOns besides the right of way across the Ter
ritories gift of - 500 acres OF the public lands
per mile, contiguous to this line, and an appro
priation from the National credit Of SIXTY NIL
| LIONS in 6 PER CENT BONDS, delivered as the
work progresses; or half tho 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 a small per centage Of their net earn
ings; they therefore, constitute an element OF
great strength TO the corporations.
The Act further authorizes them TO issue au
equal amount of their own First Mortgage
Bonds of corresponding denominations, lchieh
shall be the first claim upon the Hhols railroad prop
erty and 10 Which the lisTI Of the Government shall
be subordinate, as q means OF more readily secur'
90 tall
struction; 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, q SEbI' NATIONAL
Work, aided and commended by the people, the
Legislative power, and the Executive officers,
though It's management il administered Nth al
the care and JoTsthought Of the most eminent pirate
corporations. Being under the constant snper
viOion of the Government-whO, being the prin'
cipal creditor, accepts subordinate and contiL'
gent lien-with so large an amount Of addition
n capital also invested in the property pledged
il Is believed that no securities now offered In
the market possess the sane claims 70 conh'
dence and market value, except those Of the
Government.
Under these favoring auspices very gratifying
progress has been made In extending the railroad
of the Main Line and converging Branches DO.
tween the Missouri River and the base OF the
Rocky Mountains have been built within three
years. The CENTRAL PACIFIC RAILROAD has
also steadily and successfully carried tho Main
Stem Line from the steamboat navigation Of the
Pacific 10 the summit Of the Sierra Nevada, ant
into the Great Salt Lake Basin east Of the Call
R Inns anu HseXpag SOR BY aF t s W %S
line, the probabilities Of the through connection
with tho Eastern lines being effected in 1870
| amount almost 10 certainty.
The prominent feature in the progress of the
CENTRAL PA IFIC RAILROAD Is the remarkably
large and profitable Local Business which ia de
veloped upon the completed portion, more than
iustifying the estimates Of its pIoiectors-tbat
the Immense traffic between the ports of Cali
| fornia and the mining regions Of the int OF
would sustain 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
mOuntaiR transit h made by the locomotive.
With every eKtensiOn Of the track, the business
and profits of the completed part are increased;
80 that when the overland through traffic shall
be centered upon the CENTRAL ROAD, the gen
eral prosperity of tho company will DO without
parallel, and its securities appreciated corres
pondingly. The CENTRAL PACIFIC RAILRekt
CoMPANY offer for sale theirFIhST MORTGAGR
THIRTY. YEAR SIX PER CENT. GOLD
BON DIS, and submit to Investors TIE
following, among other obvious considora-
tons; and Invite the comparison with the merits
and excellencies Of any class OF Corporate sc
ourities:
/. These Bonds are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad. soon TO become the main channel oi
| ~ m nj the continent
II. The local settlement aud business Their Q
from is remarkably large and profitable, and
must constantly increase.
III. The hardest part Of the road il now
built and the remainder will he rapidly carrie
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
TO build the road II provided by the L. $. Gov
| eminent upon n subordinate lien.
V. The State and chief cities Of Californii
have contributed upward of GOOOOOO Ia tbs
enterprise without lien.
VI. The grant Of land is destiRed 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 revenne'
are received 10 coin.
VIII The management Of this company ha'
| been in the highest degree prudent and frugal
| and the whole surplus, after payment OF eTpens'
| and interest is devoted 10 construction purps
ses.
TX. The interest liabilities Of the COMPANY
are even now less than 4 third the net earning
upon the road pledged.
| X. Both Principal and Int,rest are payd6I Il
Gold, under special provisions Of both Eationa
4 and state enactment
The bonds are in sums Of 1900 each, wit
semiAunual gold coupons attached and are Of
fered for sale 1t IS per cent. Of their par value
and accrued interest from Jan. ], added IN cur
rency.
The hack interest IL charged at siK per cen
in currency, though repaid In full In gold A
this time they yield nearly
NINE PER CENT. UPON THE LSTES1
NEST.
These bonds bid fair 70 attain the most 1rUu
inent position among the benspeoulatiye IL
vestmsnts Of tbs country, and viii b Astivel
dealt In al the nancy centres In Europe
Holders Of Government securities have an 81
porturity Of exchanging them for Central