The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-02-11
Central Pacific Railroad First
Mortgage Bonds.

Mortgage Bonds.
1t is commonly known that the General Gov
eminent, for wise purposes, has given its aid
and encouragement 10 the construction Of one
MAIN THROUGH LINE OF RAILROAD from the Pa
ciic Ocean across the Territories 10 connect
with the various Eastern BranShes Of the Pa,
cifc Railroad system, and which will form the
GRAND TFUNK ROUTE TO the Far West,
upon which the mighty trans-continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
C0MPANY-who are carrying It forward with
greater energy and persistence than was evel
shown in any siV,ilar work in ancient or modern
times-will builu, equip, own and control On,
Western half of this Through Line. the mos
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 confers upon tho Corpo
rations, besides the right Of way across the Ter
ritories gift of u 500 acres OF the public lands
per mile, contiguous To this line and an appro.
priation from the National credit Of sixty MIL
LIONS in PER CENT. BONDS, delivered as the
work progresses; or half the estimated cost OF
the Through Limo and Branches These Sub
sidy bonds the company may cancel in q course
Of years by the Transportation services Of the
Roads, and a small per csntage Of their net earn
ings; they therefore, consulate an element Of
great strength TO the corporations.
The Act further authorizes them TO issue an
equal amount of their own First Mortgage
Bonds Of corresponding denominations, 'ohicA
shall be the first claim upon the lchoLs railroad prop
erty and 10 tehieh The lien Of The Government Ghdi
be subordinate as q means Of more readily secur.
ing the remaining half Of the capital for the con-
struction; the equipments, &c, being provided
out Of the capital stock subscriptions and other
sources.
The great CENTRAL PAciFTe RAILROAD IL there
forc, in an important sense, a SEn'NATioNAL
Work aided and commended by the people, the
Legislative power, and the Executive Oihcers
though its management IA administered i6ih al
The care and JorethoJht Of the most eniie't pirate
corporations. Being under the constant super'
vigion of the Goverument-who, being the prin'
cipal creditor accepts n subordinate and contin-
gent lien-with 40 large an amount OF addition.
al capital also invested In the property pledged
10 Is believed that no securities now offered In
the market possess the sane claims TO conf.
dence and market vGlue, except those Of the
Government
Under these favoring auspices very graft Wing
progress has been made in extending the railroad
track from both directions. Nearly 1000 miles
Of the Main Line and cOnverging Branches De
tween the Missouri River and the base Of the
Rocky Mountains have been built within thres
years. The CENTRAL PACIFIC RAILROAD has
also steaduJ 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.
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 1910
amount almost TO certainty.
The prominent feature in the progress Of the
CENTRAL PA tFIC RAILROAD In the remarkably
large and profitable Local Business which is do.
veloped upon the completed portion, more than
iustitytng the estimates Of It's pIoiectOrB-that
the immense traffic between the ports Of Cali.
fOrnia and the mining regions Of the int,I or
would sustain q hTstClass railroad line even IL
the overland connections were not built. The
net profit upon operating the Ink Of less than
one hundred miles, thus far, reaShes 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 arc increased
80 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 RAILROAD
COMPANY offer for sale theirRIhST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
i o n ID S, and submit 10 Investors TIE
following, among other obvious oOnsiaera
tons; and invite the comparison with the merits
and eXcellencies Of any class Of Corporate Sc.
surities:
/. Those Bonds are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad, soon to become the main channel OF
communication on the continent.
II. The local settlement and business there.
from is remarkably large and profitable an d
must constantly increase.
III The hardest part Of the road IL now
built, and the remainder will be rapidly carrie d
forward ever the Salt Lake Plains.
". The greatest part Of tho means necessary
to build the road Ia provided by the U. :. Gov.
eminent upon a subordinate lien.
V. The State and chief cities Of California
have contributed upward Of q DO0lOJO 10 the
enterprise without fen.
VI. The grant Of land IL destiaed at an early
day TO prove Of far greater market value than
the total Of the first mortgage bonds Issued
upon the road and equlpnenfA-
VII. This road lies altogether among the gold
end silver.produeinz regions, and its revenues
are received in coin.
VIII. Tho management Of tails Company has
been in the highest degree prudent and frugal
and the whole surplus after payment Of expense
and interest IL devoted 20 construction purps.
ses
TX. The interest liabilities Of the company
are even now less than q third the net earnings
upon the road pledged.
K. Both PrinsDal and IHt>reH are psyabL IA
Go!d, under special provisions Of both SstiOnA
and State enactment.
The bonds are in sums Of 5000 each, With
Semi-aunuAl gold coupons attached, and are Of.
fered for sale at IS per cent. Of their par value
and accrued interest from Jan. !. sdded IN cur
reBcy.
The bark interests charged At Er, cent
in currency, though repaid in full In y u. A
LIZ kIA7 NA4FN yE'tN ANeAAl
ELYR PEI cEgI. UPON TIE IYVEsr.
MINI
Thess bonds bid fair 20 attain the most prom
ine1t position among the non-sgeeula'ive IN
yestrnsnts Of the country, and VIII Be actively
dealt in a the ElsBey-oeDtTss IN Europe.
Holdsrs Of GoyeTnmsnt securities have &C n
portuniiy Of exchanging them for Cs9traI ~
efhc Bonds bearing an equal rate OF ihSsIs-'
With the prfncipAl vel ssoured, An"
REALIZING 4 PROFIT or nv 10 SIF
TEEN PER CESZ N ADDITION
o. .s,t uith the fund.- thFOagb rsspOnsi-
OIIls C0mr,znfsz ,rfft