The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-01-09
Central Pacific Railroad First
Mortgage Bonds.

NAOAAR az DOuNn'
II is commonly knewn that the General Gov
eminent, for wise purposes, has given its al,
and encouragement 10 the construction OF on,
MAIN THROUGH LINE or RAILROAD from the Pa
eifo Ocean across the Territories 20 connect
with the various Eastern Branshes Of the Pa
cifc Railroad system, and which win form the
GRAND TRUNK ROUTE 10 the Far West
upon which the mighty trans-continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
C0MPANY-who are carrying il forward viii
greater energy and persistence than was eve
shown In any siP,ilar work in ancient or modern
times-wil buila, equip own and control tn,
Western BALI of this Through Line. the NOS
productive, favored, and valuable portion of til,
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
ritories gift Of - 500 acres OF the public land
per mile, contiguous to this line and Gn appro
priation from the National credit of sixty NIL
LIONS in PER CENT. BONDS, delivered a. the
work progresses; or half the 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 csntage Of their net earn
ings; they, therefore, constitute an element OF
great strength TO the corporations.
The Act further authorizes them 20 issue al
equal amount of their own First Mortgag,
Bonds Of corresponding denominations, Uhiei
shall be ne first claim upon he I0hOLe railroad prop
erty, and 10 irhieh the lien Of The Government sAdl
be subordinate, as q means of more readily secur
ing the remaining half of the capital for the con
struction; the equipments, 60, being provided
out of the capital stock subscriptions aud other
sources
The great CENTRAL Pacific RAILROAD is there.
fore In an important sense, a SRMNAIioSAL
WORK, aided and commended by the people, the
legislative power, and the Executive officers,
though its management L. administered Utth az
he care and JOrethOught of the most eminent prtedts
sorpordtionS Being under the constant super
vision of the GOyernment-who, being the prin
cipal creditor, accepts 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 conf
dence and market valne, except those Of the
Government.
Under these favoring auspices very gratifying
progress has been made in extending the nailrOaC
track from both directions. Nearly 1900 miles
of the Main Line and cODverging Branches be
tween the Missouri River and the base of tbs
Rocky Mountains have been bnilt within tire,
years. The CENTRAL PACIFIC RAILROAD hai
also steadliy and successfully carried the Mar
Stem Line from the steamboat navigation OF The
Pacific 70 the summit Of the Sierra Nevada, anC
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 70 certainty.
The prominent feature in the progress Of th'
CENTRAL PA IITc RAILROAD Ia the remarkably
large and profitable Local Business which is de
veloped upon the completed portion, more thar
iustifying the estimates Of rs pToiectors-tbat
the immense traffic between the ports Of Call
fornia and tho mining regions Of the intri Of
would sustain hrst-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 tho entire
mountain transit Is made by the locomotive
with every extension Of the track, the bushes,
and profits of the completed part are increased
80 that when the overland through tnfiic shall
be centered upon the CENTRAL ROAD, the gen
eral prOsperityIOf the company viii be without
paralIel and fts securities appreciated cores
pondingly. me CENTRAL PGCTTC RAuBoAr
CoMPANY offer for sale theiTFIllST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
BON IDS and submit 10 Investors ti'
following. among other obvious considera
tons: and invite the comparison with the merits
and exceIIencies of any class OF Corporate se
GuTities:
l. These Bonds are based upon the most vita
and valuable part Of the Grand National Pacih
Railroad. soon 10 become the main channel o
communication on the continent
III. The local settlement and business there
from is remarkably large and profitable, an
must constantly increase.
III. The hardest part OF tho road IL nov
built, and the remainder will bo rapidly carrie
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
70 build the road Is provided by the L. ;. Gov
eminent upon a subOr dinate lien.
V. The State and chief cities OF California
have contributed upward Of t3OOO,o0O 10 tn
enterprise without lien.
VI. The grant Of land is destined at aD earl!
day to prove OF far greater market yaIne thai
the total Of the first mortgage bonds Issues
upon the road and equipments
VII. This road lies altogether among the gol d
and silver. producing regions, and it, rsvenne'
ara received in coin.
VIII. The management Of this company hAi
been in the highest degree prudent and frugal
and the whole surplpS, after payment OF eIpens'
and interest, is devoted TO construction purpO
ses.
TX. The interest liabilities Of the e0mpanl
are even now Iess than . third the net earning
upon the road pledged.
Gold. under special provisions Of both SatiOna
and State enactment
The bonds are In sums Of JiO09 each, wit
serni-annual gold coupons attached, and are oi
fered for sale az % per cent. Of their par vaus
and accrued interest from Jan. J, adasd, In cur
roncy.
The back interest il charged At SIX cen
in currency. though repair IN IuH ~ gpN. n
this time they yield nearly
NINE PER oBST UPON THE HVBS1
NEST.
These bonds bid fair 20 attain the most prom
inent position among the B0nsgeeulatiTe y
restments Of the COUNTRY, and Wiz Do A4hVei,
dealt In 20 the msney-oeDtres in Europe
Holders Of Government securities have az n
portuuity OF exchanging them for CsnfT1l ~ =.
ciae Bonds bearing an equal rate Of iStore'
with the principal vel secured and Of
REALIZING 4 PROFIT or TEE 10 HP
TEEN PER cEyr ~ ADDITION.