The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-02-12
DESIRABLE
STEADY INVESTMENT.
Principal & Interest in Gold Coin.

Central Pacific Railroad First
Mortgage Bonds.
1t is commonly known that the General G. v
eminent, for wise purposes, has given its aid
and encouragement TO the construction of one
| MAIN THROUGH LINE OF RAILROAD from the Pa
citc Ocean across the Territories 10 connect
With the yarions Eastern branches Of the Pa
| cihc Railroad system, and which win form die
GRAND TRUNK ROUTE to the Far West,
upon which the mighty trans-continental traffic
| will concentrate.
The CENTRAL PACIFIC RAILROAD
| C0MPANY-who are carrying it forward with
| greater energy and persistence than was eye-
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 II 500 acres OF the public lands
per mile, contiguous to this line, and an appro.
priatiOn from the National credit Of SIXTY MIL
LIONS in PER CENT: BONDS, delivered as 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 small per centage of their net earn.
ings they therefore, constitute an element Of
great strength 10 the corporations.
The Act further authorizes them 10 issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, lohieh
shall be the first claim upon the WhOle railroad prop.
erty and % iohich the lien Of The Government ShdH
be subordinate, as a means Of more readily secur.
ing the remaining half of the capital for the
struction; the equipments, 60, being provided
out Of the capital stock subscriptions and other
sources.
The great CENTRAL Pacific RAILR ROAD is there
fore, in an important sense, q SEMI.NATIONAL
WORK, aided and commended by the people the
Legislative power, and the Executive officers,
though It's management Is administered With al
the care aud JorethOugh Of the most eminent pirate
corporations. Being under the constant super
viBion of the GoveTnment-who, being the prin-
cipal creditor, accepts a 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 value, except those of the
Government.
Under these fsvoring auspices very gratifying
progress has been made in extending the railroad
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 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 the probabilities of the through connection
with the Eastern lines being effected in 1870
amount almost TO certainty.
The prominent feature in the progress of the
CESTRAL PA IFIC RAILROAD Is the remarkably
large and profitable Local Business which is de.
velOped upon the completed portion, more than
ustifying the estimates of its pIojectOrs-that
the immense traffic between the ports Of Cali.
forns and the mining regions Of the inter or
would sustain trst-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, reaGhes 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 are increased;
so that when the overland through traffic shall
be conferred upon the CENTRAL ROAD, the gen.
eral prosperity of the company will DO without
parallel, and its securities appreciated CORES
pondngly. The CENTRAL PACIFIC RAILROAD
COMPANY offer for sale therFIkST MORTGAGE
THIRTY YEAR SIX PER CENT. GOLD
u . y ID 5, and submit TO Investors the
following, among other obvious consaera.
tiOns; and invite the comparison with the merits
and eHcellencies of any class Of Corporate Sc
surities:
l. These Bonds are based upon the most vital
and valuable part of the Grand National Pacific
Railroad, soon TO become the main channel Of
communication on the continent
II. Tho local settlement and business Their
from is remarkably large and profitable, aud
must constantly increase.
Ill The hardest part Of the road is now
built, and the remainder i'll DO rapidly carrie
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road ia provided by the L. 5. Gov.
eminent upon subordinate lien.
V. The State and chief cities of California
have contributed upward Of So ,ODO 10 the
enterprise without len.
VI The grant Of land il 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.
a VII This road lies altogether among the gol d
and silver producing regions, and its revenues
are 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, is devoted 70 construction purpe-
ses.
TX. The interest liabilities Of the company
arc even now less than a third the net earning
upon the road pledged.
K. Both PrineipdI ana IHtsrelt are pdyab1 n
Gold under special provisions Of both SatonA
and State enactment.
The bonds are in sums Of 1900 each, with
semi annuSl gold coupons attached and are OF.
fered for sale At IS per cent. Of tneT par TAue,
and accrued interest from Jan. ], added, In cur.
rency.
The hack interest IL charged At six cent
In .,try1nyzy though repaid In full In ggd
this time they yield nearly
NINE PER oEyI. UPON TIE INVEST.
AEST.
These bonds bid fair 20 attain the most prorp.
inent position among the non-syeculative in
vestneuts Of the country, and win be aGtively
dealt in ~ the msney-ceutres IN Europe
Holders OF Government securities have an on
portunisy OF exchanging them for Central Pa
eihc Bonds bearing an equal rate Of interest
with the principal well secured, and Of
REALIZING A PROFIT OF TEN TO PIP
TEEN PER CENT. IN ADDITION
Orders sent with the funds through respond
bic Banks or Express Companies viii receive
prompt attention. Bonds ssnt BY return Tx