The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-05-03
Central Pacific Railroad First
Mortgage Bonds.


Mortgage Bonds.
It is commonly known that the General Gov
eminent for wise purposes, has given its aiC
and encouragement to the construction Of ont
MAIN THROUGH LINE OF RAILROAD from the Pa
cific Ocean across the Territories 10 connect
with the various Eastern branshes OF the Pa
cific Railroad system, and which will form the
GRAND TRUNK ROUTE TO the Far West
upon which the mighty traRS'contnental trathC
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-whO are carrying IL forward with
greater energy and persistence than wss evel
shown in any siYNilar work in ancient OF modern
times-will bpila, 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 BPOssessing
the richest franchise ever granted Jn this cont.
nent.
The Act Of Congress confers upon the Corpo
rations besides the right Of way across the Ter
rtOres, gift of Il, $40 acres Of the public lands
per mile, contiguous to this line, and an appro
priation from the National credit of SIXTY NIL
LIONS in PER CENT. BONDS, delivered As the
work progresses; or half the estimated cost -
the Through Line and Branches. These Sub.
sidy bonds the company may cancel in q course
of years by the Transportation services Of the
Roads, and 3 small per centage of their net earn
ings they, therefore, constitute an element OF
great strength 10 the corporations.
The Act further authorizes them to issue an
equal amount Of their own First Mortgage
Of ~
shall be the first claim upon the iohOLS railroad prop
erty and 10 tcheh 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
stTuctiOn; the equipmeuts, &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 SEM. RATIONAL
WORK, aided and commended by the people the
Legislative power, and the Executive officers
though its management is administered loith al
the care aud toTethotIJh Ct Lhs most eminent PIRATE
corporations. Being under the constant super
vision of the GOvernment-who, being the prin'
Cipal creditor accepts q subordinate and cOntin.
gent lien-with 80 large 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 conf
dence and market value, except those Of the
Government.
Under these favoring auspices very gratifying
progress has been made in extending the railroad
track from both directions. Nearly 1000 miles
of the Main Line and cOnvergiug Branches be
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 the Main
Stem Line from the steamboat navigation Of the
Pacific 10 the summit of the Sierra Nevada, and
- o.. u - Vna.H z a
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 1870
amount almost TO certainty.
The prominent feature in the progress Of the
CENTRAL PA IFIC RAILROAD is the remarkably
large and profitable Local Business which is de.
velOped upon the completed portion, more than
iustifying the estimates of its pIoectOrs-that
the immense traffic between the ports of Cali.
fernia and the mining regions of the inter OF
would sustain . frst-Class railroad line, even IL
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 rat) will be doubled
during the coming season, when tho entire
mountain transit is made by the locomotive.
With every extension of the track, the business
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 RAILROAD
COMPANY offer for sale theirFIKST MORTGAGE
SIX PER CENT. GOLD
B n ID 5 and submit to Investors TIE
among other obvious consiaera-
tiOns; and invite the comparison with the merits
and eIcellencies Of any class Of Corporate SO.
Gurities:
l. These Bonds are based upon the most vital
and valuable part of the Grand National Pacific
Railroad, soon 10 become the main channel of
on the continent
II. The local settlement and business there
from 10 remarkably large and profitable, and
must constantly increase.
Ill The hardest part Of tho road 10 now
built and the remainder will DO rapidly carrie d
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road IL provided by the Q. s. Gov.
eminent upon a subordinate lien.
V. The State and chief cities Of California
have contributed upward Of 1900. OOO to the
without Lien.
VI. Tho grant Of land is destined At an carly
dAy 70 prove Of far greater market value than
the total Of the Rrst mortgage bonds issusd
upon thO road and equipmsnts-
and silver producing 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 is devoted 20 Construction purps-
sea.
TX. The interest liabilities Of the COMPANY
are even now less than third the net earrings
upon the road pledged
\. Both Principal and TatsTegt ere payabls IN
God, under special provisions Of both National
and STATE enactment
The bonaA are In sums Of 1900 each, with
sem annual gold coupons attached, and are o.
fsred for sale Al IS per cent Of their par value
and accrued interest from Jan. !, SdSsd, in cur
rency.
The back interest IL charged At E1y can,
in currency, though repaid In fall in gOld A
this tine they yield nearly
HI5E PBR CEfI. UPON The IgVRST.
HBET
These bosdS bid fair 70 attain the mot ,ror,.
iasnt position among the nOnsPeculAtfTs in
Testnents Of the country, and win Be ,stivsIy
dealt N AZ the msnsy-osbtrss IL Rrroue
Holders OF Government securitieII have An m.
Port1niiy Of exchanging them f0r Cent? =,
- bonds bearing An equal rate Of interest
With the principal vel secured. and Of
PROFIT on rEs 10 PIP
TEES PER CENT. " ADDITION
,OrdsTs sent With the funds throazh respond.
DC Banks OF Express Conuzuies VII receive
oro.aPt attention Bonds sat By return EE
press % any address IN the United states, a.
~ cost lnfOrT alton Ds1Srfutivs paHuphlsrs