The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-02-19
Central Pacific Railroad First
Mortgage Bonds.

Mortgage Bonds.
II Is commonly known that the General Gov. /
ernmsnt for wise purposes has given its aid /
and encouragement TO the construction Of one \
MAIN THROUGH LINE OF RAILROAD from the Pa /
citic Ocean across the Territories 10 connect /
with the various Eastern branches Of the Pa
oitic Railroad system, and which will form the |
GRAND TRUNK ROUTE 20 the Far West,
upon which the mighty trans-continentl traffic /
will concentrate.
Tho CENTRAL PACIFIC RAILROAD |
greater energy and persistence than was ever
shown in any siV'ilar 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 as possessing
the richest franchise ever granted on this CONT
nent.
The Act Of Congress confers upon the Corpo- |
rations, besides the right Of way across the Ter.
ritories gift Of IL 500 acres Of the public lands
per mile, contiguous 10 this line, and en- Rppro-
priation from the National credit of SIXTY NIL.
LIONS in PER CENT. BONDS, delivered as the
work progresses; or half the 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 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 an
equal amount Of their own First Mortgage ,
Bonds of corresponding denominations, tchteh I
shah be the Frst claim upon the tuhoLs railroad prop
eTty and 20 i1hieh the lien Of The Government shall
be subordinate as a means OF moro readily secur 1
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 PACIFIC RAILROAD is there
fore in an important sense, a SEMl'NATIoNAL
WORK, aided and commended by the people, the
Legislative power, and the Executive officers
though its management is administered ioih al
The care and JorcthOtJkt Of the most eminent priUdts
corporations. Being under the constant super
yinion of tho Goyernment-who, being tho prtn'
cipal creditor, accepts subordinate and COntin.
gent lien-with 30 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 90 conh.
dence and market value, except those Of the |
Government
Under these favorinS auspices very gratifying |
progress has been made in extending the railroad
of the Main Line and convergng 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 steadIIJ and successfully carried the Main |
Stem Line from the steamboat navigation of the |
Pacific 10 the summit Of the Sierra Nevada, and
into the Great Salt Lake Basin east of the Cali |
tOrnia 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 il the remarkably
large and profitable Local Business which In de.
veloped upon the completed portion, moro than
iustifying tho estimates of It's proiectOrs-that
the immense traffic between the ports Of Cali.
fOrnia and the mining regions of the inter or
would sustain frst-class railroad line, even n
the overland connections were not built. The
net profit upon operating the link Of less than
one hundred miles TINS lar, reaches nearly two
millions in gold; and this ratio will bo doubled
during the coming season when the entire
mOuntaiR transit il made by the locomotive.
With every extension Of the track, the business
and profits Of the completed part are increased
20 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 cores.
pOndingly. The CENTRAL Pacific RAILROAD
q
THIRTYYEAR SIX PER CENT GOLD
BON DIS and submit 10 Investors tire
following, among other obvious eOnsiaera.
tons; and invite the comparison With the merits
and eIcellencies of any class Of Corporate Sc.
0Urities:
l. These Bonds are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad soon % become the main channel Of
communication on the continent.
II. The local settlement and business there.
from IL remarkably large and profitable. and
must constantly increase.
III. The hardest part Of the road il now
built, and the remainder will DO rapidly carried
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road II provided By the U. 5. Gov.
ernment upon a subordinate lien.
Y. The State and chief cities Of California
have contributed upward Of 10000 to the
enterprise without lien.
VI. The grant Of land IL destined At an early
day 70 prove Of far greater market valae than
the total Of the Arst mortgage bonds issued
upon the road and equipments
VII. This road lies altogether among the gold
and silver producing regions, and ~ revenues
arc receiyed In coin
VIII The management Of this company has
been In the highest degree prudent and frugal l
and the whole surplus, after payment Of expense
ses.
TX. The interest liabilities Of the company
-. nou leaa than a third sha nat aarniurH
upon the road pledged.
K. Both Principal and IHterGrt are payable fH
Gold, under special provisions Of both National
and State enactment.
The bonds are In sums Of 5000 each, with
semi-snnnh gold coupons attached, and are Of.
fered for sale At Is per cent Of their par value,
and accrued interest from Jan. !, adaed, In cur.
rsncy.
The back interest Ia charged AZ six cent
in currency, though repaid In foil iR cd.
this time they yield nearly
NINE PER OEYI. UPON TIE BTEsT
XBYT
These bonds I'D fair 20 attain the most prom
ipeut position among the nOnbpeculauFe M
yesfrnents Of the country, and viii b sshvey
dealt In al the DSney centres IN Europe. -.
Holder Of Government securities have a. ~
uoTtunfty Of exchanging item for CsptrG
ciae Bonds bearing sD equal rsts % =
With the principal wen secured Ana :"
REALIZING PROFIT or TES 10 PIP q
TEEN PER oEXI w ADDITION
o., .,ut With the funds through Te.Donsi-
-, p.nLs OK Express Companies VIII receive ,
. u attention. Bonds sSnt by return EE
80 % any sddress in the United states, At
asar cost Inf0rv-&tion, Descriptive pamphlets,
Mas. &C, furnished on application az the oeios
Of tbs EaiiroAd Company. No. 81 william Z
I'D ~ \.