The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-02-13
Central Pacific Railroad First
Mortgage Bonds.

MOrtS Bonds.
1t is commonly known that the General Gov.
! eminent, for wise purposes, has given Its aid
and encouragement TO the construction Of one
MAIN THROUGH LINE OF RAILROAD from the Pa
| chic Ocean across the Territories 10 connect
with the various Eastern Branshes Of the Pa
| cihc Railroad system, and which will form the
GRAND TRUNK 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 ever
shown in any siDlilar work in ancient OF 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 to this line, and an appro-
priation from the National credit of SIXTY MIL
| LIONS in PER CRNT. 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 q course
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 an
| equal amount Of their own First Mortgage
Bonds of corresponding denominations, iohieh
shall be the HrFt claim upon the tchoLe railroad prop
| m MI he ALL
be subordinate, as n 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 PACIFIC RAILROAD is thero-
| fore in an important sense, a SEM NATIONAL
WORK aided and commended by the people, the
| Legislative power, and the Executive officers,
though its management is Administered 'otth al
the care aud forethotgh Of The most eminent private
corporations. Being under the constant super
vision of the Goveument-who being the prin-
cipal creditor, accepts subordinate and contin-
| gent lien-with so 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 cont.
dence and market value, except those of the
| Government.
! Under these favOring auspices very gratifying
|
| track from both directions. Nearly 1000 miles
OF the Main Line and cOnverging 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 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 the 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 il do.
velOped upon the completed portion, more than
iustiifng the estimates OF its pIojectors-that
the immense traffic between the ports Of Cali
| fornia and tho mining regions of the intrI or
! would sustain trst-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
mountain transit Is made by the locomotive.
With every extension Of the track, the business
and profits of the completed part are 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 theirFIkST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
BONDS, and submit to Investors tAe
following, among other obvious cOnsiaera-
tons; and invite the comparison with the merits
and eXcellencies of any class Of Corporate Sc.
surities:
l. These 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 and
must constantly increase.
III. The hardest part of tho road is now
built and the remainder will 30 rapidly carrie
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road is provided by the U. ). Gov.
eminent upon a subordinate lien.
V. The State and chief cities Of California
have contributed upward Of s. 0O00 600 10 the
enterprise without lien.
VI. Tho grant Of land is destined 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 revenues
are received in coin.
VIII. The management Of this company has
been in tho highest degree prudent and irugA,
and the whole surplus, after payment OF expense
and interest, is devoted 20 construction Purpe-
ses.
TX. The interest liabilities Of the company
are even now less than q third the net earnings
upon the road pledged.
\. Both Principal and IHtSreTt ar, pdya6b IN
Gold, under special provisions OF both Nations
and State enactment.
I'll. hand. are IN suus OF tIOOe each, with
..+ni-annnaI vold coupons attached, and are o.
fered for sale at 95 per cent Of their par value,
! and accrued interest from Jan. !, sdaed, In cur
rency.
The hack interest il charged at ak cent
In currency. though repaid in full In gid. A
this time they yield nearly
NINE PER GEM. UPoS THE INVEST.
HRST
These bonds bid fair TO attain the most Sroun.
inent position among the non-spAculativs in.
vestments Of the country, and viii be actively
dealt in a. the msney-cebtres in Ruror4
/ Holders Of Government securities have an Old.
portu1ity Of exchanging them for Central Pa
cihe Bonds bearing an equal rate Of interest
with the principal vel secnred, and Of
REALIZING 4 PROFIT OF TIN TT PIP
TEEN PER CEET IN ADDITION.
Orders sent with the funds through responsi-
BILE Banks OF Express Companies will receive
prompt attention Bonds ssnt By return Er
press 70 any address in the United States, AZ
our cost Information Descriptive pamphlets,