The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-02-23
Central Pacific Railroad First
Mortgage Bonds.

Mortgage Bonds.
1t is commonly known that the General Gov.
ernmsnt for wise purposes has given its aid
and encouragement TO the construction Of one
MAIN THROUGH LINE or RAILROAD from the Pa
cihc Ocean across tho Territories 10 connect
with the various Eastern BrAnshes Of the Pa
cihc Railroad system, and which will form the
GRAND TRUNK ROUTE TO the Far West
upon which the mighty transcontinentAl traffic
viii concentrate.
The CENTRAL PACIFIC RAILRoAD
C0MPANY-who are carrying IL forward with
greater energy and persistence than was ever
shown In any siRlilar 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 eonfers upon tho Corpo-
rations, besides the right Of way across the Ter
ritoriee a gift of - 500 acres OF the public lands
per mile, contiguous 70 this line, and an appro.
priation from the National credit Of SIKH MI,
LIONS in PER CENT. BONDS delivered as the
work progresses; or halfthe estimated cost u
the Through Line and Branches. These Sub.
sidy bonds the company may cancel in n course
of years by the Transportation services Of the
Roads, and small per centage of their net earn.
ings; they, therefore, consulate 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, tchieh
shall be The first claim upon he ich0s railroad prop.
erty aud 20 which he lien " he Government shall
be subordinate, a. q means of more readily secur.
ing the remaining half OF the capital for the con-
structiOn; the equipments, &o., being provided
out Of the capital stock subscriptions and other
sources.
The great CENTRAL PAcIF1e RAILROAD Is there
fore in An important sense, n sESn-NATIOSAL
Work aided and commended 10y the people, the
Legislative power, and the Executive oiheers,
though its management IA administered Nth al
the care and JoTothOuJh " The most eminent ptrdte
corporations. Being under the constant super
ViAion Of the Government-whO, being the prtn-
cipal creditor, accepts a subordinate aud contin,
gent lien-with 10 large an amount ofsAddition.
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 fayoring auspices very gratifying
progress has been made in extending the railroad
track from both directions. Nearly 1900 miles
Of the Main Line and cOnverging Branches be.
tween the Missouri River and the base of tha
Rocky Mountains have been built within three
wears. The CENTRAL Pacific RAILROAD has
also steadily and successfully carried the 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 the whole
line, tho probabilities Of the through connection
with the Eastern lines being elected In 1870
amount almost TO certainty.
The prominent feature In the progress OF the
CENTRAL PA GFIC RAILROAD Is the remarkably
large and profitable Local business which IL dc.
velOped upon the completed portion moro than
iustifying the estimates Of It's professionalism
the immense traffic between the ports Of Cali
fou ia and tho mining regions Of tho nt,I or
would sustain frst.Class railroad line, even II
the overland connections were not buit. The
net profit upon operating tho link OF lnss than
one hundred miles, thus lar Teashe- nearly two
millions In gold: and this ratio will be- doubled
during the coming season, when the entire
mountain transit IA made 10y the locomotive.
With every extension of tho track. the business
and profits OF the completed part are Increased;
40 that when the overland through ualLc 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 70 Investors the
following among other obvious conniaera-
tons; and invite the comparison with the merits
and eIcellencies Of any class Of Corporate 40
Gurities:
l. These Bonds are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad. sOon 10 become the main channel Of
communication on the continent
IL The local settlement and business there.
from is remarkably large and profitable, aud
must constantly inCroasS.
III. The hardest part Of the road IL now
built and the remainder VIII DO rapidly carrie d
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
u build the road h provided by the U. ). Gov.
eminent upon a subordinate lien.
Y. The State and chief cities Of California
have contributed upward Of s3,OOO,VO 10 the
enterprise without lien.
VI. The grant Of land IL destined at an early
dag 20 prove Of far greater market value than
the total Of tho first mortgage bonds issnsd
upon the road and equiPmenis
VII. This road lies altogether among the gold
and silver.producing regions, and iis revenues
are received IN coin.
VII. The management Of this company has
bsep In the highest degree prudent and frugal,
and the whole surplus after payment Of eIpsnss
and interest, ls devoted 20 construction purpo
sss.
*. The interest liabilities Of the company
are even now les than 4 third the net earnings
upon the road pledged
K Both Principal aHf Tnt<reSt are pdyabb "a
Gold, under special provisions Of both SatiOnzi
and State enactment.
The bonds are In sums OF 5000 each, with
semi mammal gold coupons attached, aud are o.
fsrsd for sale a. % per cent OF their par value
and accrued interest from Jan. /, sAasd, In cur.
reney.
The back interest Is charged at Ery cent
IN currency, though repaid In full IN ga. A
this time they yield nearly
NINE PER CENT UPON THE INVEST
MEgL.
Thsss bonds bid fair 20 attain the most prom
iuent position among the non-syeeul8fiys 10
ysstunents Of the country, and Win b aEtTeiJ
dealt In AZ the msnsy-csntres in Earvpe-
Holders Of Government securities have az n
poTtunity Of exchanging them f0r CentI1 - :
cfhc Bonds bearing an equal rats % 10
wftb - uriacipal wei secured. and Of
REALIZING 4 PROFIT or ESS TO FAI
zpvv PR cREI " ADDITION