The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-03-03
PACIFIC RAILRoAD.
STEADY INVESTMENT.

STEADY INVESTMENT.
Principal & Interest in Gold Coin
The attention of Investors, Trustees, Execu
tors, and others desiring an unuI lslly safe, re
liable and profitable form of permanent invest
ment, is called to the advantages and assurances
Of the
Central Pacific Railroad First
Mortgage Bonds.
1t is commonly known that tbs General Gov.
| ernmsnt, for wise purposes, has given its aid
and encouragement to the construction of one
MAIN THROUGH LINE OF RAILROAD from the Pa
cifo 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 il forward with
| greater energy and persistence than was ever
shown in any siDlilar work in ancient or modern
| times-win 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.
rtories gift Of u 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 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 . course
Of years by the Transportation services Of the
Roads and . small per centage Of their net earn.
ings they, therefore, constitute an element Of
great strength 70 the COTpOraGOns.
The ACT further authorizes them to issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, I0hieh
shall be the first claim upon the IohoLe railroad prop
srty and 20 I0lich the lien Of the Government shdu
be subordinate, as q 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 there
fore in an important sense a NATIONAL
WORK, aided and commended by the people, the
Legislative power, and the Executive officers,
though its management is administered t0Ih az
the care and Jorethought Of the most eminent priUGs
corporations. Being under the constant super
vision of the GOvernment-who, being the prin.
cipal creditor, accepts a 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 conh.
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 c0nverging Branches be-
tween the Missouri River and the base of the
Rocky Mountains have been built within three
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 IF1C RAILROAD is the remarkably
large and profitable Local Business which Is de.
veloped upon the completed portion, more than
ustifying the estimates of its prOjectors-that
the immense traffic between the ports of Cali.
fOrnia and the mining regions OF the inter or
would sustain a tirst-Cass 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 ito Investors the
following, among other obvious COnsidera-
tions; and invite the comparison with the merits
and exceencios of any class Of Corporate Sc.
ourities:
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.
H. The local settlement and business there.
from is remarkably large and profitable and
must cons tantly increase.
III. The hardest part Of the road Is now
built, and the remainder will be rapidly carrie d
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road il provided by the L. ;. Gov.
eminent upon a subordinate lien.
V. The State and chief cities of California
have contributed upward Of S3,OOO,OO 70 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 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 expense
and interest is devoted to construction Purpe-
ses.
TX. The interest liabilities Of the company
are even now less than o third the net earnings
upon the road pledged.
Y. Both Prin4pdl and IHteTelt are payaSN "
GoId, under special provisions Of both hAtiohA
and State enactment
..-,;'snnnaI oold coupons attached, and are Of
800 fo- AZ AZ o5 per cent Of their par value,