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

II Is commonly known that the General Gov.
ernmsnt for wise purposes, has given its ais
and encouragement 10 the construction Of one
MAIN THROUGH LINZ or RAILROAD from the Pa
cihc Ocean across the Territories 20 connect
with the various Eastern branches Of tho Pa
cihc Railroad system, and which will Iclm lns
GRAND TRUNK ROUTE 20 the Far West
upon which the mighty traRs-continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-who are carrying it forward with
greater energy and persistence than was ever
shown In any SIMILAR work in ancient or modern
times-will builn, 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 rs possessing
the richest franchise ever granted on this CONT
nent.
The Act OF Congress oonfers upon the Corpo-
rations, besides the right Of way across the Ter.
ritories gin Of IL so acres OF the public lands
per mile, contiguous IL this line, and an appro.
priation from the National credit Of SIXTY MIL
LIONS In PER eRNT BONDS, 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 q course
of years by tho Transportation services Of tho
Roads, and q small per csntage Of their net earn.
ings; they, therefore, constitute an element Of
great strength 70 tho corporations.
The Act further authorizes them 20 issue an
equal amount Of their own First Mortgage
Bonds Of corresponding denominations, tchieA
shall BE- ps frft cdfH upon The trhote rdiiroddprop
erty, aud 20 i0hieh the hen Of Tia Government shall
be subordinate as q means Of moro readily seour.
ing the remaining half Of tho capital for the con-
structon the equipments, &C., being provided
ont of the capital stock subscriptions and other
sources
The great CENTRAL Pacific RAILROAD Ia there
fore, In an important sense, q SEhI' NATIONAL
Work, aided and commended by the people, tho
Legislative power and the Executive oiQoera,
though Its management In administered Wiih al
he care and JOrethoitgh II The most eminent priedh
corporations. Being under the constant super.
yiBion of the GOvernment-who, being the prin'
cipal creditor, accepts subordinate and oontin.
gent lien--with so large an amount OF addition.
al capita also invested In the property pledged,
IL IL believed that securities now offered In
tho market possess the sane claims IN conh.
dence and market value. except those Of tho
Government
Undor these favoring auspices very gratifying
progress has been made In extending the railroad
track from both directions. Nearly 1000 miles
OF the Main Limo and converging branches be-
tween the Missouri River and the base OF the
Rocky Mountains have been built within thrco
years, The GENIAL Pacific RAILROAD has
also steadIiy and successfully carried tho Main
Stem Line from the steamboat navigation Of tho
Pacific 20 tho summit Of tho Sierra Nevada, and
into the Great Salt Lake Basin east Of the Call.
fornia line. Having overcome by far the mo.t
difficult and expensive portion Of the whole
line the probabilities Of the through connection
with tho Eastem lines being objected In $50
amount almost Ia certainty.
The prominent feature in tho progroaa Of tho
CESTRAL PA INC RAILROAD Ia the remarkably
large aud profitable Local business which Ia do
veoped upon the completed portion, moro than
iustifyinK tho estimates of IL projectOrs-that
tho immense traiIe between tho ports Of Cali
fornia and the mining regions Of tho int,I or
would sustain hrstolass railroad line, even IL ,
tho overland connections were not built The
net profit upon operating the link Of less than
one hundred miles, thus far, reashcs nearly two
millions Ia gold and this ratio will bo doubled
during the coming season, when the entire
mountain transit " mado by tho locomotive.
With every extension Of the track, the business
and profits Of the completed part are increased,
so that when tho overland through traffic shL
be conferred upon the CENTRAL ROAD, tho ger.
oral prosperity Of tho company will be without
parallel. and 'its securities appreciated oorxrs-
pOndingly The CENTRAL PACIFIC RAILROAD
CoMPASr offer fOr sale theirFIhST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
EDS, and submit 10 Investors tho
following, among other obvious cOnSidera-
tOns; and invite the comparison with tho merits
and eIcellencios Of any class Of Corporate so
GuTities:
!. These Bonds are based upon tho moat vital
and valuable part Of the Grand National Pacific
Railroad. soon ~ become the main channel Of
communication on tbs continent.
ii. The local settlement and business there.
from Is remarkably large and profitable, and
must constantly incroass.
III. The hartIs-. part Of tho road Ia now
built aud the remainder win be rapidly carried
forward ever the Salt Lake Plains.
". Tho greatest PAD Of the means necessary
tn build ths road IL provided by tho u. y. Gov.
eminent upon n subordinate Hen.
V. The State and chief cities Of California
have contributed upward u tJ,OOo,OOO 10 tho
enterprise without Ten.
W. The grant of land IL destined at an early
day 70 prove Of far greater market value than
the total Of the Art mortgage bonds issued
upon the rad and equipments.
VII. This road lies altogether among the gold
and silver producing regions, and its revenue.
are received In coin.
VIII. This management Of this Company has
Defu I'D hue ktscAt ofETtf pTuofut
and the whole surplus. after payment Of eIpsBss
and interest, IL devoted TO construction purps-
| ses.
TX. The interest liabilities Of the company
are even now less than a third the net eArhinzs
upon the road pledged.
| X. Both Pyiaeipdl and IAtsrsa are payab1sn
Gold, under special provisions Of both hA''"nA
| and State enactment.
The bonds are In sums Of gi0o e1sh, Win
! .-,J-,,nnai 1oid coupons attached, and are Of
| 80 - IL AZ % per cent. Of their par value
ia aacrsed Interest from Jan. ]. AdAsd In cur.
Il reney.
Tn. hack interest IL charged Al siI pr cont
! In e,fTrenev though repaid In foil In 2old. A
| this time they yield nearly
NINE PER CENT. UPON TIE ISVgsT.
NEgT.
These hoods bid fair TO attain the most yrorl.
inent position among the nOn-HeculAtiTe In.
vestmeuts Of the country, and VIII be A@uvelJ
dealt In AZ the msDey- centres In Europe