The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-01-15
Central Pacific Railroad First
Mortgage Bonds.

1t Is commonly known that the General Gov.
ernmont for wise purposes, has given It's aid
and encouragement TO the construction Of one
MAIN THROUGH LINE or RAILROAD from the Pa
cihc Ocean across the Territories 70 connect
with the various Eastern Branches o. tho Pa
cifc Railroad system, and which VIII form the
GRAND TRUNK ROUTE TO tho Far West,
upon which tho mighty transcontinental traffic
viii concentrate.
The CENTRAL PACIFIC RAILROAD
CoMPANY-who are carrying It forward with
greater energy and persistence than was ever
shown In any similar work in ancient or modern
times-win buila, 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 y 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 9 PER CENT. BONDS, delivered A. 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 a small per centage Of their net earn.
ings; they, therefore, constitute an element OF
great strength 70 the corporations.
The Act further authorizes them 20 issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, tOhieA
shah be the first claim upon the tChOe railroad prop
erty and 20 tClieh the lien Of the Government shall
a M n paaHflv
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 PACrFIs RAILROAD Is there
FORE In an important sense, q SEM NATIONAL
Work, aided and commended by tho people, the
Legislative power, and the Executive otieens,
hon oh its management II 6dmfntstered totusdu
ne care and JoTethOtgh Of The most e'toJt pTiudtS
corporations. Being under the constant super
vision Of the Government-who, being the pTin-
cipal creditor, accepts n 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 same claims 10 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 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
H. .l.aIs 49, NtsNFt
with the Eastern lines being effected in $50
amount almost TO certainty.
The prominent feature In the progress Of the
CESTRAL PA IFIC RAILROAD IL the remarkably
large and profitable Local Business which Is de-
velOped upon the completed portion moro than
Iustifying the estimates Of ia projectors-that
the immense traffic between the ports Of Cali.
fornia and tho mining regions Of tho inter or
would sustain trst-class railroad line, even II
the overland connections were not built. Tho
net profit upon operating the link Of less than
one hundred miles, thus far, reaches nearly two
millions in gold and this ratio will DO doubled
during the coming season, when the entire
transit Is made by the locomotive.
With every extension Of the track, the business
and profits Of the completed part arc increased;
40 that when the overland through traffic shall
DO conferred upon the CENTRAL ROAD, the gen.
eral prosperity Of tho company will be without
parallel and its securities appreciated cores
The CENTRAL PACIFIC RAILROAD
COMPANY offer for sale therFIRST MORTGAGE
THIRTY. YEAR SIX PER CENT. GOLD
and submit 20 Investors tAe
among other obvious oonAidera-
lions: and invite the comparison with thomerits
and excellencies Of any class OF Corporate Sc
Gurities:
I. These Bonds arc based upon the most vital
and valuable part Of the Grand National Pacific
Railroad, soon TO become the main channel Of
on the ecntinont.
II. The local settlement and business there.
from Is remarkably largo and profitable. and
must constantly increase.
III. The hardest part Of the road IL now
built, and the remainder win DO rapidly carrie
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
10 build tho road Ia provided by the U. b. Gov.
eminent upon a subordinate Hen.
v. The State and chief cities Of California
have contributed upward OF tJOOOVD ~ the
enterprise without lien.
VI. The grant Of land Is destined at an early
day 10 prove Of far greater market VAlue than
the total Of the frst mortgage bonds Issued
upon tho road and equipments.
Evil. This road lies altogether among the gol d
and silver producing regions, and is revenues
are received In coin.
VIII. The management Of this company has
bson in the highest degree prudent and frugal,
and the whole surplus, after payment OF expense
and interest IL devoted TO construction purps
sea.
TX. The interest liabilities Of the company
are even now less than q third the net earnings
upon the road pledged
X. Both Principal and IRtsreH are pdy1bI "
Gold, under special provisions Of both Nations
and State enactment.
The bonds are In sums OF 1900 each, with
semi annual gold coupons attached, and are Of
fered for sale at % per cent. Of their par vAne,
and accrued interest from Jan. !, ADDED, In eur.
reney.
The back interest IL charged at sIp cent
In currency, though repaid In full In gOd a
this time they yield nearly
NINE PEI CENT. UPON THE INVEST
AEHT.
These bonds bid fair 70 attain the most prom
inent position among the DonSPeeulAtiye N
yestments Of the country, and wiz Do aNu'sJ
dealt On At the msney-osntres In EUROPE
Holdsrs Of Government securities have AZ =,
noTtunity Of exchanging them for CenfrS
eife Bonds bearing az equal rate o.
With the prindpl vel secured, and"
REALIZING 4 PROFIT or 1ES 10 PIP
TEEN PER cESz IN ADDITION.
- viii the funds through respond
O.ee - Express COMPANIES vii receive