The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-01-16
Principal & Interest in Gold Coin.
Central Pacific Railroad First
Mortgage Bonds. -

1t is commonly known that the General Gov.
ernm0ut for wise purposes, has given its aid
and encouragement TO the construction Of one
MAIN THROUGH LINE OF RAILROAD from the Pa
ciic Ocean across the Territories 70 connect
with the various Eastern branches Of the Pa
ciic Railroad system, and which win form the
GRAND TRUNK ROUTE 70 the Far West
upon which the mighty trans-continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
C0MPANY-who are carrying IL forward with
greater energy and persistence than was ever
shown in any siU'ilar work in ancient or modern
times-will builn, 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 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 lands
per mile contiguous 10 this line, and an appro.
priation from the National credit of SIXTY NIL
LIONS in PR CENT. BONDS, delivered IS the
work progresses; or half the estimated cost OF
the Through Line and Branches. These Sub
sidy bonds the company may cancel IN a course
Of years by the Transportation services Of the
Roads, and o 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, 'onieA
shall be the Grtt claim upon the tohoe TclroddProp
erty and 10 iohieh the lien Of the Government ShdA
be Stibordindts az n 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 SKNi-NAuoNAL
WORK aided and commended by tho people, the
Legislative power, and the Executive officers,
though its management IL administered Hiutdu
he care and Jorehough Of the most eminent PIRATE
eorDordtionS Being under the constant super
vision of tho Government-Who, being tne prin'
oipal creditor, accepts a subordinate anu oontn'
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 10 conf
denCe and market value, except those Of the
Government.
Under these favoring auspices very gratifying
progress has been made in extending the EailrOad
track from both directions. Nearly 1000 miles
of the 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 steadiIy 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.
f0rna 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 ls70
an uiTrOSL 10 certainty.
Tho prominent feature in the progress Of the
CENTIlAL PA IF1C RAILROAD IL the remarkably
large and profitable Local Business which is de.
velOped upon the completed portion, more than
iustifying the estimates Of its pToioctOrs-that
the immense traffic between the ports Of Cali
fOrnia and the mining regions Of the int,I or
would sustain hrst-Class 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 the entire
mountain transit Is made by the locomotive.
With every extension OF the track, the business
and profits OF the completed part arc increased
so that when the overland through traffic shah
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 their FIRST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
and submit 10 Investors tie
following, among other obvious cOnsidera-
TONS and invite the comparison with tho merits
and excellencies Of any class OF Corporate Sc
ourities:
I. These Bonds are based upon the most vital
and valuable part of the Grand Natiousl Pacific
Railroad soon to become the main channel OF
communication on the continent.
II. The local settlement and business Their e.
from is remarkably large and profitable, and
must constantly increase.
III. The hardest part Of the road is now
built. and the remainder will be rapidly carrie
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road II provided by tho L. y Gov
eminent upon a subordinate lien.
V. The State and chief cities OF California
have contributed upward Of tj,DOJ.OO 20 the
enterprise without lien.
vi. Tho grant Of land il destined At an early
day 20 prove Of far greater market value than
the total Of the first mortgage bonds issued
upon the road and equipments
avn. This road lies altogether among the gold
and silver.produoing regions, and is revenues
arc received In coin.
VIII. The management Of this company has
been in the highest degree prudent and frugal,
and the whole surplus after payment Of expense
and interest, IL devoted 20 construction purpo-
ses.
TX. The interest liabilities Of the company
are even now less than a third the net earnings
upon the road pledged
X. Both Principal and IntsTsh are payaI> ip
God under special provisions Of both Nations
and State enactment.
The bonds are In sums Of 1900 each, with
semi-annual gold coupons attached, and are o.
fered for sale az % per cent. Of their par vnue,
and accrued interest from Jan !. AIDED, In cur
rency.
The back interest il charged a. siH2 cent
In etfrTaSet though repaid IN inl IN ga a
this time they yield nearly
NINE PER CENT. UPON THE INVEST.
NEgT.
These bonds bid fair 70 attain the most prom
inent position among the non sgeenlaiiye IN
vestmsnts Of the country, and VIII % aSu'eJ
dealt In AZ the msney centres IN Europe.
Holders Of Government securities have AZ n
portuuisy Of exchanging them for CsntiHl y
rise Ronds bearing an equal nate o. iBteTn@'
With the principal well secured, And Of
REALIZING A PROFIT osTBS 70 FiT
TEEN PER cEyT " ADDITION
o-,.,. xies the funds throagh respOnsi'
OIaeE - rrprcss Companies viii receive