The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-02-20
Central Pacific Railroad First
Mortgage Bonds.

Mortgage Bonds.
It Is commonly known that the General Gov
ernmsnt, for wise purposes, has given It's aid
and encouragement 70 the construction OF one
MAIN THROUGH LINE OF RAILROAD from the Pa
ciho Ocean across the Territories 70 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
are carrying IL forward with
greater energy and persistence than was ever
shown In any siVsilar work in ancient or modern
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 oonti-
nent-
The Act of Congress confers upon the Corpo-
rations, besides the right Of way across tho Ter.
ritories gift Of - 500 acres OF the public lands
per mile, contiguous 70 this line, and IN appro.
priation from the National credit of SIXTY NIL
LIONS in PER CENT. BONDS, delivered rs the
work progresses; or half the estimated cost OF
the Through Line and BrAnches These Sub
sidy bonds the company may cancel in q csurse
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 10 the corporations.
The Act further authorizes them to issue an
equal amount Of their own First Mortgage
Bonds of corresponding denominations, tohteA
shall be The first claim upon the tChOte railroad prop
erty, and 20 Which The lien Of The Government shdH
be subordinate a. q means OF moro 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 PAcTPIs RAILROAD Is there
fore, in An important sense, a SEM'NATloNAL
WORK, aided and commended by the people, the
Legislative power, and the Executive officers,
though its management Is administered nth al
ne care and JOrethOugh Of The most eminent pirate
corporations. Being under the constant supcr-
yiAiOn of tho Government-who, being the prtn-
,ipal creditor, accepts subordinate and oontin'
gent lien-with 30 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 TO conn.
dence and market value, except those OF the
Under these favoring auspices very gratisyi
progTess has been made in extending tho ahruad
track rum both directions. Nearly 1000 miles
of tho 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 steadny and successfully carried the Main
Stem inc from tina sfeamhnat 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 tho Eastern lines being effected in lSI0
amount almost TO certainty.
The prominent feature in the progress Of the
CBSTRAL PA IFIC RAILROAD Is the remarkably
large and profitable Local Business which In dc.
velOped upon the completed portion, moro than
ustifyinR the estimates of its pToieCtors-that
the immense traffic between the ports of Cali
fornia and the mining regions Of the inter OF
would sustain tirst-class railroad line, oven II
the overland connections were not built. The
net profit upon operating the link Of less than
one hundred miles, thus lar, reaches nearly two
millions in gold; and this ratio will be doubled
during the coming season. when the entire
mountaiR transit Is made by the locomotive.
With every extension Of the track, the business
and profits Of the completed part are increased;
so LnAI Wutn ING ONtllhuu luIbuEh tailit hhAl
be ceHtered upon the CENTRAL ROAD, tho gen
eral prosperity Of tho company will be without
parallel and its securities appreciated CORES
The CENTRAL PACIFIC RAiLEoAD
COMPANY offer for sale theirFlkST MORTGAGE
YEAR SIX PER CENT. GOLD
aud submit 20 Investors the
among other obvious conslaera-
lions; and invite the comparison With the merits
and e1oelenoies Of any class OF Corporate So
eurities
1. These Bonds arc based upon the most vital
and valuable part Of the Grand National Pacific
Railroad, soon 10 become the main channel Of
communication on the continent.
II. The local settlement and business there.
from Is remarkably large and profitable, and
must constantly increase.
built aud the remainder will DO rapidly carrie
forward ever the Salt Lake Plains.
~. The greatest part Of the means necessary
70 build the road il provided by the L. >. Gov.
ernment upon a subOTdi lien.
Y. The State and chief cities Of California
have contributed upward Of s. OOOJJ 10 the
enterprise without lien.
vi. Tho grant Of land Is destined at an early
day 10 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 tho gol d
and silver producing regions, and it, fsTsnuss
are received In coin.
VIII. The management Of this company has
been in the highest degree prudent and ffugl,
and the whole surplus after paymsnt OF expense
and interest, Is devoted 70 construction purpo'
see.
TX. The interest liabilities Ct the company
are even now less than third the net earnngs
upon the road pledged
K. Both Principal and Tnteret az, poyabL< IA
God, undsr special provisions Of both EAtiOna
and State enactment
The bonds are In sums Of 1900 each, with
ssmi-aunuAl gold coupons attached, and are Of.
fsred for sale at % per cent Of tbetT par value,
and accrued interest from Jan. J, adaed, in cur.
reney.
The back interest is charged 1t EIv cent
in currency, though repaid IN fun In gid. A
this time they yield nearly
VINE PER OEEI. Upon THE INVEST
NEHT.
These bopdsb bid fair @ attain d. pot prom a.
ineut position among the noDfgeeul2tiye IN
vestraents Of the country, and VIII Dc aenTe1y
dealt in Il the msney-cepfnss IN EuTOps
Holders Of GoysFnmeBt securities have an u
po-+upity Of e1ehanzfnE them for Central Pa
effc Bonds bearing % equal rate Of Interest
with tbs principal ~eli secured and Of
REALIZING 4 PROFIT or TEN 10 TN
TEEN PER oEREH ADDIT1"H
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