The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-01-11
Central Pacific Railroad First
MOrtg age Bonds.

1t is commonly known that the General Gov
eminent for wise purposes, has given its aid
and encouragement 70 the construction OF one
MAIN THROUGH LINE or RAILROAD from the Pa
cifc Ocean across the Territories 10 connect
with the various Eastern Branches Of the Pa
ciho Railroad system, and which will form the
GRAND TRUNK ROUTE to the Far West,
upon which the mighty trans-continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
C0MPANY-who are carrying II forward with
greater energy and persistence than was ever
shown in any siV,ilAr work in ancient or modern
times-will build, equip, own and control the
productive, favored, and valuable portion of the
whole, and may justlybe regarded rs 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
rtories gift Of IL 500 acres OF the public land
per mile, contiguous to this line, and an appro
priation from the National credit Of sixty NIL
LIONS in PR CENT. BONDS, delivered as The
work progresses; or half the estimated cost Of
the Through Limo and Branches. These Sub
sidy bonds the company may cancel in 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 70 the corporations.
The Act further authorizes them TO issue an
equal amount Of their own First Mortgage
Bonds of corresponding denominations, tohtoA
shall BE- the first claim upon The tcoe railroad prop
erty, and % t0hieh the lien Of ne Government shall
n q ~ mo paaitlV
ing the remaining half Of the capital for the con
struction, the equipments, 80, being provided
out Of the capital stock subscriptions and other
sources.
The great CENTRAL PAcrFIc RAILROAD is there
fore, In an important sense, a SEn-NATIohAL
WORK aided and commended by the people, the
IeRislatiye power, and the Executive ohioers,
though its management IL administered tctLAdl
ne care and yorethou0h Of The most eminent pirate
cOrpoTations Being under the constant Anper'
y,iaion of the Govornment--who, being the prtn'
cipai creditor, accepts 4 subordinate and oontin.
gent hen-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 tho sane claims 70 oonh'
dence and market value, except those Of the
Government.
Under these favoring auspices very gratifying
progress has been made in extending the Hlilroad
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 steadliy and successfully carried the Main
Stem Line from the steamboat navigation Of the
Pacific to the summit of the Sierra Nevadn, 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
.l,.I.tI as.TN IL
with the Eastern lines being effected In 1870
amount almost 10 certainty.
The prominent feature in the progress Of the
CENTRAL PA IRTC RAILROAD Is the remarkably
large and profitable Local Business which Is do
velOped upon the completed portion, more Chan
iustffying the estimates Of It's PROFESSIONALISM
the immonse traffic between the ports Of Call
fornia and the mining regions Of the inter OF
would sustain hrst-class railroad line, even 4
the overland connections were not built. The
net profit upon operating the link Of leas than
one hundred miles, thus far, reashes 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
40 that when the overland through traffic shah
be conferred upon the CENTRAL ROAD, tho gen
eral prosperity of the company will be without
parallel, and its securities appreciated cores
pondingly. The CENTRAL PkclTc RAILBoAI
COSPASY offer for sale theirFIkST MORTGAGE
THIRTY.YRAR SIX PER CENT. GOLD
BONDS, aud submit 20 Investors TIE
following, among other obvious considera.
tons; and invite the comparison with tho merits
and e1cellencies Of any class OF Corporate 80
0urities:
I. These Bonds are based upon the most vita
n II II ID aNA ~
and valuable part OF the Grand Natlonal racine
Railroad, soon 90 become the main channel o
communication on the continent.
II. The local settlement and business there
from is remarkably large and profitable an'
must constantly increase.
III. The hardest part Of the road h no"
built, and the remainder will DO rapidly carrie
forward over the Salt Lake Plains.
". The greatest part Of the means necessary
TO build the road IL provided by the u. y. Gov
eminent upon a subordinate lien.
V. The State and chief cities Of California
have contributed upward Of p,OOOoOO 70 the
enterprise without lion.
VI. The grant Of land Ia destined at an carl
day to prove Of FAR greater market value thai
the total Of the frst mortgage bonds Issues
upon the road and equipments.
wi. This road lies altogether among tho gol .
and silver producing regions, and its revenues
are received In coin.
VIII. The management Of this company ha'
besn in the highest degree prudent and frugal
and the whole surplus, after payment OF erpSnss
L.. nsa1f tn caUE rufflou
ses.
TX. The interest liabilities Of the COMPANY
are even now less than third the net eaTbin r
upon the road pledged.
x. Both Principal and IHtSrest are pGyabk 4
Gold under special provisions Of both Nations
and State enactment.
The bonds are in sums Of 5000 each, wit
semi-annual gold coupons attached, and are Oi
fered for sAle at IS per cent. Of their par v2u1
and accrued interest from Jan. ], adaed, In cur
reney.
In currency, though repaid In full In goH. A
this time they yield nearly
NINE PEI 0BSI. UPON THE SVBS1
HBRT.
Thess bonds bid fair % attain the most prom
insnt position among the nOnzyesuIAttTe n
Vestnents Of the country. and win b a<tiTsi
dealt IN At the msney-cgutres IN kuTops
HOldsrs Of Government securities have a n
portunity Of exchanging them for CsntEnI ~
cihc Bonds bearing an equal nate Of insefss'
with the principal vel secured, and OF
REALIZING A PROFIT or zEF 10 HT
TEEN PER oBSE ~ ADDITION.