The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-03-15
Central Pacific Railroad First
Mortgage Bonds.

Central Pacific Railroad First
Mortgage Bonds.
1t is commonly knowa that the General Gov.
| eminent for wise purposes, has given its aid
and encouragement to the construction Of one
MAIN THROUGH LINE or RAILROAD from the Pa
citc Ocean across the Territories 70 connect
with the various Eastern branuhes Of the Pa
cine Railroad system, and which win fern the
GRAND TRUNK ROUTE TO the Far West,
upon which the mighty trans-continentAl trAfac
will concentrate.
The CENTRAL PACIFIC RAILROAD
lCOMPANY-Who are carrying IL forward with
greater energy and persistence than was ever
shown in any siRNilAr work in ancient OF modern
times-will bui'a, 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 tpoSsessing
the richest franchise ever granted On this cont.
nent.
The Act of Congress eonfsrs upon the Corpo-
ratiOns, besides the right Of way across the Ter.
ritOries gift Of ~ 500 acres OF the public lands
per mile, contiguous u this line, and appro-
priation frOm the National credit Of SIITT NIL
LIONS in PER CENT. HoNDs, delivered a. the |
| work progresses; or half the estimated cost OF |
the Through Line and BrAnehsS These Sub |
sidy bonds the company may cancel in . csurss /
Of years by the Transportation services OF the
Roads and . small per csntEge q their net earn. |
| ings; they, therefore constitute element Of /
great strength 70 the corporations.
The Act further authorizes them 70 issue an
equal smOunt Of their own First Mortgage
Bonds Of corresponding denominations, rhicA |
shall be TIE first claim upon he trhOls railroad prop
eTtV aud 70 Dhich he lien Of us Government shdA
BE- StbordiRdts az q means Of more readily seour.
ing the remaining half Of the capital for the con-
.tructiun; the equipments &c, being provided
out Of the capital stock subscriptions aud other
sources.
The great CENTRAL Pacific RAILROAD Is there
| fore, in an important sense = SElu'hATIoNAL
woRK aided and commended by the people, the
! Legislative pON ct, and the Executive officers,
though ita management Ii edHtHiStsrcd Uih al
The and JOrSthOttgh Of he most eminent prtpdts
corporations Being under the constant super
viBOu of the GOv5Tnment-who, being the prtn'
Cipa creditor, accepts subordinate and oontin. /
| gent lien-with 40 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 tho sane claims 90 CONF |
dence and market vrlue, 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 cenvergng branches be
tween the Missouri River and the base Of the
k0Cky Mountains have been built within three
! years. The CENTRAL PACIFIC RAILROAD haS
alsu stoadIl, and successfully carried the Main
stem Line from the steamboat navigation Of the
| Pacific 10 the summit Of the Sierra Nevada and
into he Great salt Lake Basin east Of the Cali.
lOrnia line. Having overcome by far the most
Al. Ill
line the probabilities Of the through connection
with the Eastern lines being effected In 1870 |
] amount almost 70 certainty.
The prominent feature In the progress Of the
CENTRAL PA IFlC RAILROAD IL the remarkably |
| large aud profitable Local business which " de
velUp-d upon the completed portion, more than
iustiiyng the estimates Of t. pIOjeCtOrs-that
the Immense trliIc between the port. Of Cali. !
tUTnis sud the mining regions Of the int or |
would sustain hrstclaSs railroad line, even 10 |
the overland CONNECTIONS were not built The /
net profit upon operating tho link Of less than |
Que hundred miles, thus lar, reaches nearly two
uilluu- In gOld. and this ratio viii be- doubled
during the coming season, when the entire
/ mJuutaiE transit IL made 10y the locomotive.
| With every extension ~ the track the business
! and profits Of the completed part are incrcaAed
| ~ that when the overland through traffic shAll .
| be conferred upon the CENTRAL ROAD, tho ESn.
eral prosperity Of the company viii be without
]
| poudugly. The CENTRAL Pacific RAILROAD
! COMPANY offer for sale thrirFlhST MORTGAGE
| THIRTY YEAR SIX PR CENT GOLD /
BONDS, and submit 10 Investors TIE
following among other obvious cOnsaerA
tions; and invite the comparison With the merits |
and eIcellenoies Of any class Of Corporate se.
I Surities:
l. These Bonds arc based upon the most vital
and valuable part Of the Grand National Pacific
III. 81 Ia FNaa Lot
| communication ON the continent
II. The local settlement and business there.
from Is remarkably large and profitable aud
mustcOnstanty Increase.
III. The hardest part Of the road IL now
built, and the remainder viii DO rapidly carried
| forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
70 build the road Ia provided by the Z. >. Gov.
| erRment upon a subordinate len.
Y. The State and chief cities % California
have contributed upward Of fJOO.O00 20 the
enterprise without Zen.
VI The grant Of land il destined a; an early
day 70 prove Of far greater market value than
the total Of the first mortgage bonds Issued
upon tho road and equipment
VII. This road lies altogether among The gold
and silver producing regions, and its revenues
! are received II coin
VIII The management Of this company has |
bssn in the highest degree prudent and frugal
/ and the whole surplus after payment II eIpsuss
and interest IL devoted 70 construction puTDs-
ses.
X. The interest liabilities Of the company
are svennoW less than = third the net sArIiREs
upOn the read pledged
Gold, under special provisions Of bJth National
and STATE suactnsnt
The bonds are In sums Of 800 each. With
ssmi annual gold coupons attached and are Of
fere4 for sAie a. % per cent Of thsir par value,
and accrued interest from Jan. ], Adaod' In cur
rsney.
The back interest Is charged a. siI cent
in currency. though repaid IL fol 10 g,h A
this time they yield nearly
VINE PER CEBT UPoY RE BTEST
Tbsss bonds bid fair 10 attain the nos, 1fos
,,ent uositiOu among the u0nfP~culativs ~ L
veStrpents Of The country, and vi b ssu''J
Sealt iu Al The msnsy-oeDtrrs IN EuroIe.
| Holder Of GOTerumenf tsc1f1tlss $3.50 n, d
Pysl I...ls - L.-5-- = s51af rnts q Interest /
With tbs priseipal vel sesared hnd@
pr,Lrzrys RRoETT or EEs 10 PIP
1EEy PEE cETZ ~ ADDITION.