The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-03-12
STEADY INVESTMENT,
Principal & Interest in Gold Coin.
Central Pacific Railroad First
Mortgage Bonds.

Mortgage Bonds.
It is commonly known that the General Gov.
ernmont for wise purposes, has given its aid
and encouragement to the CONSTRUCTION of one
MAIN THROUGH LINE OF RAILROAD from the Pa
cific Ocean across the Territories 10 connect
with the various Eastern Branshes Of the Pa.
cihe Railroad system, and which will form the
GRAND TRUNK ROUTE to the Far West,
upon which the mighty trans-oOntinental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
C0MPANY-who are carrying il forward with
greater energy and persistence than was ever
shown In any siV'ilar work in ancient or modern
times-will buiia, 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 rs 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 IL 500 acres Of the public lands
per mile, contiguous 70 this line, and an appro-
priatiOn from the National credit of sixty MIL
LIONS in PR 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 q small per centage Of their net earn
ings; they, therefore constitute an element Of
great strength 10 the corporations.
Tho Act further authorizes them TO issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations I5hieh
shaH be the first claim upon he tOhoLe railroad prop.
eTty and 70 iOhieh the lien Of The Government SHAH
be subordinate, as a means OF more readily secur-
ing the remaining half of the capital for the
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, q SEMI-NATIONAL
WORK, aided and commended by the people, the
Legislative power and the Executive ofticers
though its management 10 administered Nth al
The and JOTsthOugh Of The most eminent prpats
corporations. Being under the constant super
vi8iOn Of the Government-who, being the prin-
cipal creditor, accepts subordinate and cOntin.
gent lien-with 30 large an amount Of addition.
al capital also invested in the property pledged
1t Is believed that no securities now offered in
the market possess the sane claims TO conf.
dence and market valuo, except those of the
Government.
Under these fayoring auspices very gratifying
| track from both directions. Nearly 1000 miles
of the Main Line and C0nyerging 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 steadlIy 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 tho Eastern lines being effected In 1870
amount almost TO certainty.
The prominent feature in the progress Of the
CENTRAL PA IFIC RAILROAD is the remarkably
large and profitable Local Business which il de-
veOped upon the completed portion, more than
justifying the estimates of its pIUjectOrs-that
the immense traffic between the ports of Cali
fOrnia and the mining regions Of the int,' or
would sustain irst-Class railroad line, even il
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
mOuntaiR transit is made by the locomotive.
With every extension Of the track, the business
and profits of the completed part are increased;
so that when the overland through traffic shall
be Centered 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 to Investors tAe
following, among other obvious Considera-
tons; and invite the comparison with the merits
and eIcellencies Of any class Of Corporate SO.
Gurities:
l. These Bonds arc based upon tho most vital
and valuable part of the Grand National Pacific
RnilrOaI A kerOmR uaa oh nf
communication on the continent.
n. The local settlement and business there.
from IL remarkably large and profitable and
must constantly increass.
III. The hardest part Of the road Is now
built, and the remainder will be rapidly carried
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
TO build the road ia provided by the U. s. Gov.
eminent upon a subordinate lien.
V. The State and chief cities Of California
have contributed upward Of s3,OOO,OOO to the
enterprise without lien.
VI. The grant Of land Ia destined At an early
day to prove Of far greater market value than
the total Of the first mortgage bonds issued
uPOH bho EOta anu ed ulpLueAtS-
VII. This road lies altogether among the gold
and silver producing regions, and its revenues
are received in coin.
VIM. The management Of this company has
been in the highest degree prudent and Hugai'
and the whole surplus, after payment Of expense
and interest, IL devoted 10 construction purPS
Bes.
TX. The interest liabilities Of the company
are even now less than a third the Bst earrings
upon the road pledged
Z. Both Principal and LHtsTsst are pdya1k "a
Gold, under special provisions Of both National
and State enactment.
The bonds are in sums Of 1900 each, With
semi-anuusI gold coupons attached, and are Of
fered for sale At IS per cent Of their par value
and accrued interest from Jan. J. added, In cur.
rency.
The hack interest IL charged At six cent
in currency. though repaid IN fill IN S,H A
this time they yield nearly
NINE PER CKST UPON THE INVEST.