The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-03-18
Central Pacific Railroad First
Mortgage Bonds.

Mortgage Bonds.
It is commonly known that the General Gov.
eminent for wise purposes, has given It's aid
and encouragement 20 the construction OF one
MAIN THROUGH LINE OF RAILROAD from the Pa
ciic Ocean across the Territories 20 connect
with the various Eastern branches Of tho Pa
cihc Railroad system, and which viii form the
GRAND TRUNK ROUTE % the Far West,
upon which the mighty trans-continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-who are carrying Il forward with
greater energy and persistence than was ever
shown in any siPilar work in ancient OF modern
times-win builu, 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 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 ~ 500 acres Of the public landb
per mile, contiguous 10 this line, and an appro-
priation from the National credit OF sixty MIL
LIONS in PER CENT. BONDS, delivered ~ the
work progresses; or hAlfthe estimated cost Of
the Through Line and Branches. These Sab
sidy bonds the company may cancel in course
OF years by the Transportation services Of the
Roads, and q small per osntage Of their net earn.
ings; they, therefore, constitute an element Of
great strength 70 the corporations.
The Act further authorizes them 70 issue an
equal amount Of their own First Mortgage
Bonds Of corresponding denominations, tSA'eA
shall be he first claim upon The lohok railroad Pr2P
srty and 70 I0hieh he lien Of he Government shall
be subordinate, a. q means Of more readily secur'
ing the remaining half Of the capital for the CON
structiOn; the equipments, 80, being provided
out Of the capital stock subscriptions and other
sources.
The great CENTRAL Pacific RAILROAD Is there
fore, in an important sense, . SEMrNAIIoNAL
Work aided and commended by the people, the
Legislative power, and tho Executive officers,
though It's management Is administered i0ih az
The care and JorehOtigf Of he most eHinenf pTTcdts
eorpOrdtiOnS Being under the constant super
vision Of che GoveTnment-who, being the prtn'
cipal creditor, accepts a subordinate and oontin'
gent ien-with 50 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 10 comb
denoo and market value, except those OF the
Government
Under these iavoring auspices very gratifying
progress has been made in extending the railroad
track from both directions. Nearly 1900 miles
Of the Main Line aud oonverging branches DO
tween the Missouri River and the base Of the
Rocky Mountains have been built within three
years. The CENTRAL PACIFIC RAILROAD has
also steadlII and successfully carried the Main
Stem Line from the steamboat navigation Of the
Pacific TO the summit Of the Sierra Nevada, aud
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 10 certainty.
The prominent feature in the progress Of the
CENTRAL PA IFIC RAILROAD IL the remarkably
large and profitable Local Business which IL de.
veloped upon the completed portion, more than
iustifytng tho estimates Of its pToject0rs-that
the immense traffic between the ports Of Cali.
fornia and the mining regions Of tho inter or
would sustain first-class railroad line, even II
the overland connections we're 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 ratio will be 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 are Increased;
10 that when the overland through traffic shall
be oentcred upon the CENTRAL ROAD, the gen.
eral prosperity Of the company will be without
parallel and its securities appreciated CORES
pondingy. The CENTRAL PACIFIC RAILROAD
CoNPANY offer for sale theirFlkST MORTGAGE
THIRTY.YEAR SIX PR CENT. GOLD
BON DS, and submit 20 Investors the
tons and invite the comparison with the merits
and sIcellencies Of any class Of Corporate se
Surites:
]. These Bonds are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad soon 70 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 be rapidly carried
forward over the Salt Lake Plains
". The greatest part Of the means necessary
70 build the road IA provided By the U. ). Gov.
eminent upon a subordinate lien.
V. The State and chief cities Of California
have contributed upward Of 100000 10 the
enterprise without Zen.
VI. Tho grant Of land IL destined At an early
day 70 prove Of far greater market value than
the total Of ths first mortgage bonds issued
upon tho 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 the highest degree prudent and frugal
and the whole surplus, after payment Of sIpsnss
and interest, Is devoted 70 construction purps-
ses.
TX. The interest liabilities Of The company
are even now less than . third the net sarHinEs
upon the road pledged.
K Both PriHeiD1l and TntsrsFt arc D1yablS IN
God, under special provisions Of both Nations
and State enactment.
The bonds are In sums Of 1000 each, With
semi annual gold coupons attached, and are o.
fsred for sale At % per cent Of tbsiT par value,
and accrued interest from Jan. /, addod, In cur.
reney.
The back interest Il charged at SKIP ssnt
In eugTeaey, though repaid IN fall In ggd. A
this time they yield nearly
NINE PER oEET. UPON THE LETEsT
MEM.
These bonds bid fair 20 attain the most prom
inent position among The nOnfgeeulatIe ~ \
vsstu,suts Of the country, and VII - sssfeg
geslt in a the mSney-osDtTes IN EuTOpe.
Holdsrs Of Government secuT1tiss k.Is n. |
portuuity Of exchanging them for Csssll.-..
cfSS BOnds- bearing az eqnal rste ~
With The prineipAI ven secured ana"
4 PROFIT or rES 10 Err
rEEE PER CEET IN ADDITION
o-ser. sent vith the funds hrouzh rsspOnH. !
- Banks o. EIpress Companies VIII receivs |
--Uu5pr attention. BOGis ssTf b. rNturn "a I