The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-01-04
Central Pacific Railroad First
Mortgage Bonds.

ernmsnt for wise purposes, has given its aid
and encouragement TO the construction Of one
MAIN THROUGH LINZ or RAILROAD nom the Pa
citc Ocean across the Territories 70 connect
with the various Eastern branshes OF the Pa
cidc Railroad system, and which viii form the
GRAND TRUNK ROUTE 10 the Far West
upon which the mighty trans-continental trAfae
will concentrate.
The CENTRAL PACIFIC RAILROAD
C0MPANY-wbo are carrying Il forward with
greater energy aud persistence than was ever
shown In any siVlilar work In ancient or modern
umes-wil buiin, equip, own and control tho
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 conters upon tho Corpo.
rations, besides the right Of way across the Tor.
ritOries gift Of n 500 acres OF tho public lands
per mile contiguous 10 this line, and an appro.
priation from the National credit Of SIXTY NIL
LIONS in 6 PRR CENT. BONDS, delivered a. tho
work progresses; or half the estimated cost Of
the Through Limo and branches These Sub.
of years by the Transportation services Of the
Roads and a small per centage OF their net earn
ings; they, therefore, consulate an element Of
great strength 20 the corporations.
The Act further authorizes thcm 10 issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, 'sAieh
sh1u b. the first claim upon ne lch0lt rallrodd prop.
sry and 70 tohioh he lien Of DE GOrcrHtnsnf shall
be subordinate, as o means of more readily socur.
ing the remaining half of the capital for tho gpn.
stTuction; the cquipmcnta &os being provided
out Of the capital stock subscriptions and other
sources.
Tho great CENTRAL PAcinc RAILROAD Ia thore.
fore, In important scnse, a SkGI. NATIONAL
WOHK, aided and commended by the people, tho
Legislative power, and tho Executive otlteu,
though its management Ia administered teiLsdn
the and JOrethOUgh u The most sB,Iseni private
corporations. Being under tho constant Auper-
vinion Of the GOvernmcnt-whO being the rrin.
cipal creditor, accepts subordinate and contin.
gent lion-with 80 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 20 conf.
dence and market value, except those Of the
Government
Under these favoring auspices very gratifying
progress has been made In extending the milroad
OF the Main Line aud cOnvergiug Brahohosbe.
tween the Missouri River and the base Of the
Rocky Mountains have been built within thrco
years. Tue CENTRAL PACIFIC RAILItOkD has
also steadny and successfully carried the Main
Stem Line from the steamboat navigation OF the
Pacific 10 the summit Of the Sierra Nevada, and
into the Great Salt Lake Basin east Of tho Cali.
fornia limo. 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 $50
amount almost 20 certainty.
The prominent feature IN the progress Of thu
CkSTRAL PA IFIC RAILROAD In tho remarkably
large and profitable Local Business which Ia de-
velopcd upon the completed portion, moro than
the estimates Of it, PROFESSIONALISM
The immense traffic between the ports Of Cali
fornia and tho mining regions Of The integ OF
would sustain = hrktClasa railroad limo, even
the overland connections were not built The
net profit upon operating the link Of iess than
one hundred miles, thus TAR. reaches nearly two
millions in gold, and this ratio viii bc doubled
during .hs coming season, when the entire
transit IA made by the locomotive.
With every extension Of the track, tho business
and profits Of the completed part arc inoreascdi
30 that when the overland through traffic shah
be conferred upon the CENTRAL ROAD t1e gen.
eral prosperity Of the company win DO without
parallel, aud its securities appreciated CORES.
pondingly. The CENTRAL PGc1uo RAn4eAD
COMPASY offer for sale thcirFIItST MORTGAGE
YEAR SIX PR CENT. GOLD
and submit 10 Investors tho
among other obvious eonsidsra-
tons; and invite the comparison with tbaJnsrits
and eIoellenc!ss Of any class OF Corporate -
euuties
!. These Bonds arc based upsn the moat vital
and valuable part Of the Grand National Pacific
Railroad. soon 20 become the main channel Of
communication on the continent.
II. The local settlement and bushes. there.
from IL remarkably large and prohtAbls. and
must constantly increase.
III The hardest part Of the rad 10 nov,
built, and the remainder will BE- rapidly carried
forward over the Salt Lake Plains-
". The greatest part Of tho means necessary
70 build the road u provided BY the U. >. Gov.
eminent upon a subordinate lien.
V. Tho State and chief cities Of California
have contributed upward Of t9,0O,0O 70 tho
enterprise without Len.
VI The grant Of Land IL destined ., an early
day % prove Of far greater market value than
ths total Of The art mortgage bonds issued
upon tho road and efuipmsnA.
I. VII. This road lies altogether among the gold
and silver. producing regions, and Ia revenues
arc received In coin.
Viii The management Of this company has
been In tho highest degree prudent and frugal,
and the WhOls surplus after payment Of eIpsnss
and interest, IL devoted 70 construction purDs-
scs-
TX. The interest liabilities Of the company
are even nov les than a third the net earrings
upon the road pledged.
X. Both PriRepai and Isteyest are yaTabk z
Gold, under special provisions Of both hau0nn
and State ensctmsnL
The bonds are In sums Of toe each, WITH
seruI-a1nual gold coupons attached and are o.
fered for sale at IS per cent Of their par vsas'
and accrued interest from Jan. ]. AdAsd' N q"
rency.
The hack interest IL charged AZ DIP eest
In e+eyena,. though repaid in fall In 80
this time they yield nearly
NINE PER 0ES1. UPoy rHE ISVEsz