The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-02-10
Central Pacific Railroad First
Mortgage Bonds.

Mortgage Bonds.
1t is commonly known that the General Gov
ernmont for wise purposes has given its aiC
and encouragement 70 the construction Of one
MAIN THROUGH LINE or RAILROAD from the Pa
citc Ocean across the Territories 70 connec,
with the various Eastern Branshes Of the Pa
cihc Railroad system, and which viii form the
GRAND TRUNK ROUTE to the Far West
upon which the mighty trans'continental trafiC
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-whO are carrying IL forward Will
greater energy and persistence than was eve
shown in any siVIilar work in ancient or modern
times-will buisu, equip, own and control III,
Western Half Of this Through Line the mos
productive, favored, and valuable portion Of IN,
whole, and may Justly be regarded as possessing
the richest franchise ever granted on this cont
nont.
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 to this line and an appro.
priation from the National credit OfSrXTI NIL.
LIONS in PER CKSr. BONDS, delivered "a the
work progresses; or half the estimated cost of
the Through Line and Branches. Those Sub
sidy bonds the company may cancel in a csurse
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 20 the corporations.
The Act further authorizes them 10 issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, ichieh
A II. IL. IL. ~.
erty aud 10 lrhich the len Of the Government shat
be subordinate, rs \ means Of moro readily seour.
ing the remaining half Of tho 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, n SRSiI NATIONAL
WORK aided and commended by the people, the
Legislative power, and the Executive officers,
though its management Ia GdIHiniStcrod FtuIaA
the care and JOTeOtlJh Of The most eminent pirate
corporations. Being under the constant super
vision of the Govornmcnt.-who being the prin.
cipal creditor, accepts n subordinate and cOntin.
gent hcn-with so large an amount of addition
al capital also invested In tho property pledged,
IL Is believed that no securities now offered In
the market possess tho same claims tO cOnh.
denCe and market vGlue, except those Of the
Government.
Under these favoring auspices very gratifying
progress has been made in extending the railroad
track from both directions. Nearly 1000 miles
of the Main Line and C0nyCrging Branches Sc.
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 tho Main
Stem Line from the steamboat navigation OF the
Pacific 10 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 tho whole
line the probabilities of the through connection
with tho Eastern lines being effected in ls70
amount almost TO certainty.
The prominent feature in the progress Of tho
CESrlsAL PA IF1C RAILROAD is tho remarkably
large and profitable Local business which il dg.
velOpcd upon tho completed portion, moro than
iustifying the estimates Of it, pToieCtOrs-that
the immense traffic between the ports of Cali
fOTnia and the mining regions Of the intJ or
would sustain a tirst-class railroad line, even II
the overland connections were not built. The
net profit upon operating the link nf less than
one hundred miles, thus tar, reaches nearly two
millions in gold; and this ratio VIII be doubled
during the coming season, when the entire
mountain transit Il 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 shall
be conferred upon the CENTRAL ROAD, tho gen.
eral prosperity Of the company will be without
parallel and its securities appreciated cOrros-
The CENTRAL Pacific RAILROAD
COMPANY offer for sale tbeirFlkST MORTGAGE
SIX PER CENT. COLD
b o n DIS, and submit to Investors I've
following among other obvious eOnSiAera-
tons; and invite the comparison with the merits
and eIcelencies OF any class Of Corporal" So
Gurties:
!. These Bonds are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad. soon 10 become the main channel Of
on the continent.
II. The local settlement and business there.
from Is remarkably large and profitable, and
must constantly increase.
III. The hardest part Of tho road 10 now
built and the remainder viii be rapidly carrie
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
To build the road II provided by the U. s. Gov
eminent upon a subordinate hen.
V. The State and chief cite. Of California
have contributed upward Of SJ,OOOODO 10 tho
enterprise without len.
vi. The grant Of land j. destiRod At an early
day 10 prove Of far greater market valne than
the total of the first mortgage bonds Issued
upon the road and equipments.
p. VII. This road lies altogether among the gol d
and ilver.producing regions, and il revenues
are received In coin.
VIII. The management Of this company has
JSen in the highest degree prudent and frugal,
and the whole surplus after payment Of cEpcnas
and interest, is devoted 70 construction purp0-
rs.
TX. The interest liabilities Of the company
are even now less than third the net earnings
lpon the road pledged.
X Both Principal and Ihtsrsr are pdyabL IA
Gold, under special provisions Of both National
and State enactment.
TIE bonds are in sums Of siOD0 earh. With
semi annual gold coupons attached, and are 81.
fered for sale at % per cent Of their par value.
and accrued interest from Jan. l, ADDED, In cur
rency.
The back intsrest IA charged At sirp cont
in elrrrTlry, though repaid In full In g'H.
this time they yield nearly
NINE PEI cEyI UPON THE wVEsT
MEyE