The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-01-12
Central Pacific Railroad First
Mortgage Bonds.

It is commonly known that the General Gov
eminent, for wise purposes, has given its all
and encouragement TO the construction of ont
MAIN THROUGH LINE OF RAILROAD from the Pa
cific Ocean across the Territories 10 conuec
with the various Eastern Branshes Of the Pa
cific Railroad system, and which will form III,
GRAND TRUNK ROUTE to the Far West
upon which the mighty traRs-continental traffit
viii concentrate.
The CENTRAL PACIFIC RAILROAD
C0MPANY-who are carrying il forward Will
greater energy and persistence than was eve
shown in any siVNilar work in ancient or modern
times-will builn, equip, own and control thu
Western Half Of this Through Line the mos
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 conEers upon the Corpo
rations, besides the right of way across the Ter
ritories gift of IL, 500 acres of the public land
per milo, contiguous to this line, and sn appro
priation from the National credit Of SIXTY NIL
LIONS in PER CENT. BONDS, delivered as tn,
work progresses; or half the estimated cost o.
the Through Line and Branches. Those Sub
sidy bonds the company may cancel in . csursG
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 70 the corporations.
The Act further authorizes them to issue an
equal amount of their own First Mortgage
Bonds Of corresponding denominations, i0hieh
shall be The first claim upon s tchoLs railroad prop
eTty and 10 Iohieh The lien Of the Government shall
be subordinate, rs means Of more 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 Pacific RAILROAD is there
fore, in an important sense, q SEMI-NATIoSAL
WORK, aided and commended by the people, the
Legislative power, and the Executive othcers,
though its management is administered toth az
the care and oreth0ught g The most eminent prUdtS
corporations. Being under the constant super
viOion of the Government-who being the pm
cipal creditor accepts a subordinate ana contin'
gent lien-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 the sane claims TO conf.
dence and market velue, except those Of the
Government
Under these favoring auspices very graft lying
progress has been made in extending the railroad
track from both directions. Nearly 1000 miles
of the Main Line and convergiug 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 steadily 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, Responsibilities 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 IPIC RAILROAD Is the remarkably
large and profitable Local Business which is de.
veloped upon the completed portion, moro than
iustifying the estimates Of its pTojectors-that
the immense traffic between the ports Of Cali
fornia and the mining regions Of the int, or
would sustain q trst-class railroad line, even u
the overland connections were not built The
net profit upon operating the link Of less than
one hundred miles thus far reaches nearly twJ
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 centered upon the CENTRAL ROAD the gen
eral prosperity Of the company will be without
parallel, and its securities appreciated corres
pondingly. The CENTRAL PACIFIC RAILReAD
CoNPANY offer for sale theirFIkST MORTGAGE
THIRTY-YEAR SIX PER CENT. GOLD
BONDS and submit to Investors the
following, among other obvious eonsiaera.
tons; and invite the comparison with the merits
and excellencios Of any class OF Corporate &C.
0urities:
Il. l.. q 81
and valuable part of the Grand National Pacific
Railroad, soon to 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.
Ill The hardest part Of the road is now
built, and the remainder will be rapidly carrie d
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
TO build the road is provided by the u ). Gov
eminent upon a subordinate Hen.
V. The State and chief cities of OsliforDiI
have contributed upward Of sJ,OOO,O0O TO the
enterprise without len.
VI. The grant Of land Is destined at an early
day to 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 gol d
and silverproducing regions, and lie revenues
are received in coin.
VIII. Tho management Of this company has
been in the highest degree prudent ana frugal,
and the whole surplus, after payment OF expense
and interest, 10 devoted to construction purpe'
ses.
TX. The interest liabilities Of the company
are even now less than third the net earnings
upon the road pledged.
Y Both Principal and TF:<reH are payable ~
Gold under special provisions Of both Hationa'
and State enactment.
The bonds are in sums Of 5000 each, Wit
,emi.annual gold coupons attached, and are Of
fered for sale at 95 per cent Of their par value
and accrued interest from Jan. /, added, in cur
rency.
The back interest Is charged at siIJ cent
in currency, though repaid In full in gid A
this time they yield nearly
NINE PER CRST. UPON THE INVEST
KgST
These bonds bid fair 20 attain the most prom
inent position among the n0nSPeculztiTe in
yestments Of the country, and win be sEtivelJ
dealt IN AZ the msney centres In Europe.
Holders Of Government securities have an Op
portunity Of exchanging them for Central Pi
eibe Bonds bearing an equal rate Of interest
with the principal well secured, and Of
REALIZING 4 PROFIT OF TEN 10 ZIP