The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-02-04
STEADY INVESTMENT,

1 90 - eA~AAAS AeeAAAA OeAA ~ ~
Mortgage Bonds.
1t is commonly known that tia General Gov
eminent, for wise purposes, has given its AiG
and encouragement 70 the construction Of one
MAIN THROUGH LINE OF RAILROAD from the Pa
citc Ocean across the Territories 70 connect
with the various Eastern Branshes Of the Pa
cific Railroad system, and which viii form the
GRAND TRUNK ROUTE TO the Far West
upon which the mighty traRs-continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
| C0MPANY-who are carrying II forward will
greater energy and persistence than was eve
shown In any siDdlar work In ancient or noderI
times-will builn, equip, own and control tbs
Western Half Of this Through Line the mos
productive, favored, and valuable portion of the
whole, and may Justly be regarded a. 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 II 500 acres Of the public landI
per mile, contiguous to this line, and an sppro
priation from the National credit of sixty MIL
LIONS in PR 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 q course
of years by the Transportation services Of the
Roads, and . small per Osntage 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
Bonds of corresponding denominations, ohieh
shall be The first claim upon the IohOle railroad prop.
erty, and % sekieh the lien Of the Government SHAH
be subordinate, as q means Of more readily secur.
ing the remaining half Of the capital for the con.
! atruction; the equipments, &c, being provided
out of the capital stock subscriptions and other
sources.
The great CENTRAL Pacific RAILROAD Is there.
fore, In important sense, q SEn,NATIoNAL
WORK, aided and commended by the people the
Legislative power, and the Executive officers,
though its management is administered 1oih al
the care and JorethOtgk Of the most eminent private
corporations. Being under the constant super
visiUn of tho GOyernment-who, being the prin.
cipal creditor, accepts a subordinate and contin.
gent len-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 vrlue, except those Of the
Government.
Under these favOring auspices very gratli wing
progress has been made in extending tho railroad
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 10 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 IPTC RAILROAD is the remarkably
large and profitable Local Business which is de-
velOped upon the completed portion, more than
iustifying the estimates Of its pTOjeCtOrs-that
the immense traffic between the ports sf Cali.
forniA and the mining regions Of the int or
would sustain q hrst-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 arc increased;
so 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 theirFIhST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
B o n d s, and submit TO Investors the
following. among other obvious consiaera-
tons and invite the comparison with the merits
and eIcellencies Of any class Of Corporate So.
surities:
I. These Bonds are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad soon 10 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 the road is now
built and the remainder will be rapidly carrie
forward ever 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.
Y. The State and chief cities OF California
have contributed upward Of f3,OOO,oOO 10 the
enterprise without lien.
VI. The grant Of land Is destined At an early
day 70 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 col d
and silver.producing regions, and It's revenues
are received In coin.
VIII. The management Of this company has
been in the highest degree prudent and hugAl,
] -k,ola rT,1m Ca n
and interest, is devoted to construction purPS
ses-
TX. The interest liabilities Of the company
are even now less than third the net eArIlnss
upon the road pledged
Z. Both Principal and InGSTsIt are paya6N IN
God. under special provisions OF both National
and state enactment
tn. hand. are in sums Of tl9Os each, With
.ami-auuual gold coupons attached and are o.
fsr,d for ale AZ IS per cent. Of their par Vsue
and accrued interest from Jan. ], Gdaed, in cur.
reney.
The back interest is charged at SKIP cent
In e,trreaoy, though repaid In full in gid. A
this time they yield nearly
yryE PEE CENT UPON TIE grEsr
HRST.
These bonds bid fair 70 attain the mos. IRON.
fnsut position smOnE the nOn-spaculative in
vestnents OF the country, and VIII be aStively
dealt in At the usney centres in Europe.
Holders Of Government securities have an op-
port1nity Of eIehan ging them for Central Pa
cihe Bonds bearing an equal rate Of interest
with the principal well secured, and Of
REALIZING 4 PROFIT OF TEg 10 Pr
TEEN PER OEST. IN ADDITION.
Orders seat with the funds through response
bic Banks or Express Companies VIII receive