The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-02-17
Central Pacific Railroad First
Mortgage Bonds.

It is commonly known that tho General Gov
ernmsnt, for wise purposes has given its aiC
and encouragement to the construction Of ons
MAIN THROUGH LINE OF RAILROAD from the Pc
cific Ocean across the Territories 70 conncc,
with the various Eastern Branshes Of the Pa
cific Railroad system, and which win form the
GRAND TRUNK ROUTE 70 the Far West,
upon which tho mighty trans-c0ntinentAl trAnic
will concentrate.
The CENTRAL PACIFIC RAILROAD
C0MPANY-who are carrying Il forward with
greater energy and persistence than was eve
shown In any siVIilar work In ancient or moderr
times-will b1il1, equip, own and control tn,
productive, favored, and valuable portion Of the
whole, and may Justly be regarded rs possessin,
the richest franchise ever granted on this oonti
nent.
The Act Of Congress confers upon the Corpo
rations, besides the right Of way across the Ter
ritories gift Of IL 500 acres Of the public landI
priation from the National credit Of SIXTY NIL
LIONS in PR CENT. BONDS, delivered As the
work progresses; or halt 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 oentage Of their net earn.
ings; they, therefore, constitute an element Of
great strength 70 the corporations.
The Act further authorizes them TO issue An
equal amount Of their own First Mortgage
Bonds Of corresponding denominations, which
shall Be the frat claim upon tie tohos railroad prop
erty and % Sckich the lien Of The Government shaL!
A II
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 PAcIFIe RAILROAD In there
fore In An important sense, SEh1'NAuoNAL
WORK aided and commended by tho people, the
Legislative power, and the Executive officers,
though its management Is administered With al
the care aud JoTetOt1h Of the most eminent pirate
corporations. Being under the constant super
vision of the Government-who, being the prtn'
cipal creditor, accepts a subordinate and contin.
gent ien-with so large an amount Of addition.
al capital also invested in the property pledged,
it Is believed that no securities now offered In
the market possess tho sane claims 20 conh.
dence and market value, except those OF the
Government
Under these favoring auspices very gratifying
track from both directions. Nearly 1000 miles
of the Main Line and cOnverging Branches-b
tween the Missouri River and the base Of the
Rocky Mountains have been built within thres
years. The CENTRAL PACIFIC RAILROAD has
also steadily and successfully carried the Main
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 20 certainty.
The prominent feature in the progress Of the
CENTRAL PA IFIC RAILROAD is the remarkably
large and profitable Local Business which IL do.
yeloped upon the completed portion, moro than
iustifying the estimates Of It's pTojectors-that
the immense traffic between the ports Of Cali.
fornia and the mining regions OF the inter OF
would sustain frstclass 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 PicIHC RAILROAD
CoMPASY offer for sale theirFIhST MORTGAGE
THIRTY-YEAR SIX PER CENT. GOLD
BONDS, and submit to Investors tire
following, among other obvious cOnsiaera-
lions; and invite the comparison with the merits
and eIcellencies Of any class OF Corporate 80.
eurities:
I. These Bonds are based upon the most vital
vain hla ~ ~ tha Grand National Pacific
Railroad, soon TO become the main channel Of
communication on the continent
II. Tho local settlement and business there
from Is remarkably large and profitable, and
must constantly increase.
III. The hardest part OF the road Il now
built, and the remainder will DO rapidly carrie
forward ever the Salt Lake Plains.
". The greatest part OF the means necessary
10 build the road Is provided By the U. s. Gov.
eminent upon > subordinate lien.
V. The State and chief cities Of California
have contributed upward Of t5,OOO,OOO 10 the
enterprise without len.
VI. The grant Of land il 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
and silver producing regions, and its revenues
arc 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, IL devoted 70 construction purpe-
sea
TX. The interest liabilities Of the company
are even now less than q third the net earnings
upon the road pledged.
x. Both Prinapdl and In,ersR are payable IN
God, under special provisions Of both National
and State enactment.
The bonds are In sums Of 1900 each, with
ssmi-annuzl gold coupons attached and are Of.
fered for sale at % per cent Of their par value,
and accrued interest from Jan. ], AdAed, in eur.
rency.
The back interest Il charged at GIp cent
In currency, though repaid In full In gid A
this time they yield nearly
NINE PER CENT. UPOY THE INVEST
xRSE
Tbsss bonds bid fair 20 stain the most prom
Iuent position among the ncnSPeculzttTe IN
yestments OF the country, and VII be astiTey
dealt In AZ the msney centres IN Europe.
Holders Of Government securities have 40 n
portunfsy Of exchanging them for Cenn1
cihe Bonds bearing an equal nate OF
With the principal well secured AID o.
REALIZING 4 PROFIT or ZEN TO HY
TEEN PEE oxSL ~ ADDITION
o-s.-. ant with the funds through respond
n, p..ks or Express Companies viii reeeive