The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-04-30

Central Pacific Railroad FirSl
Mortgage Bonds.
It is commonly known that the General Gov
eminent, for wise purposes, has given its al,
and encouragement TO the construction of ont
HAIx THROUGH LINE OF RAILROAD from the Pa
cific Ocean across the Territories TO cOnuec
with the various Eastern branches Of the Pa
ciiC Railroad system, and which will form tn,
GRAND TRUNK ROUTE to the Far West
upon which the mighty trans-con:inentalt rafi,
will concentrate.
The CENTRAL PACIFIC RAILROAD
| COMPANY-who are aarrying it forward witt
! greater energy and persistence than was eve
shown IL any SIMILAR work in ancient or modern
times-will builu, equip, own and control TIT
| Western Half of this Through Line, the mos
productive, favored and valuable portion Of tn,
whole, and may Justly be regarded EpOssessinJ
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 r. 800 acres Of the public land
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 O
the Through Line and Branches These Sub
sidy bonds the company may cancel in . course
of years by the Transportation services of the
Roads, and small per csntage Of their net earn
fVNrru fhaTv tut ala Al
great strength 70 the corporations.
The act further authorizes them TO issue al
equal amount of their own First Mortgage
Bonds of corresponding denominations, t0hicI
shall be The first claims upon the t1hOLe railroad prop
erty and 10 l0heh the lien Of the Government shall
be subordinate, as a 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 othel
sources.
The great CENTRAL PACIFIC RAILROAD is there
fore in an important sense, q SEb1-NATIoNAl
Work, aided and commended by the people, the
Legislative power, and the Executive officers
though its management Is administered ieith al
the care aud orsthOiIgh CT The most eminent pTira
corporations. Being under the constant super
vision of the Government-who being the prin
Cipal creditor, accepts a subordinate and contin
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 TO conf
dence and market value, except those Of the
Government.
Under these favoring auspices very graft Tying
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 steaduy 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
CENTRAL PA IFIC RAILROAD is the remarkably
large and profitable Local Business which il de
velOped upon the completed portion, more thar
iustifying the estimates of its pTOjectOrs-that
the immense traffic between the ports of Cali
fernia and the mining regions of the inter OF
would sustain frstclass 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 are increased;
so that when the overland through traffic shall
be centered upon the CENTRAL ROAD, the gen.
eral prosperity of the company will BIO 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 to Investors tire
following, among other obvious considera-
tons; and invite the comparison with the merits
and eKcellencies Of any class Of Corporate 50.
Gurities:
I. These Bonds are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad, soon TO become tho main channel Of
Communication on the continent.
II. Tho local settlement and business there.
from is remarkably large and profitable. and
must constantly increase.
III. The hardest part Of the road IL 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 is provided by the U. s. Gov.
eminent upon 4 subordinate lien.
V. The State and chief cities OF C california
have contributed upward Of 100000 10 the
enterprise without lien.
VI. The grant Of land is destiasd at an early
day TO prove Of far greater market value than
the total Of the first mortgage bonds issued
upon tho road and equipments.
VII. This road lies altogether among the Zol 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 flugal
and the whole surplus, after payment of CT pense
and interest, Is devoted TO construction purpe-
ses.
TX. The interest liabilities Of the eompany
are even now less than = third the net ear 1inEs
upon the road pledged
x. Both Principal and Iatsrsst are pas,yL, Z,
Gold, under special provisions Of both National
and State enactment.
The bonds are in sums OF tIOoO s.sb vf,L
sem annual gold coupons attached, and are m
fered for sale az IS per cent. Of their mar yaIne
and accrued interest from Jan. I. adSed. In e1r,
rency.
The back interest is charged a. SKIP cent
in currency though repaid In fuI In an
this time they yield nearly
HZTE PER CBYT. UPON TIE IyVgsr.
kEET.
These bonds bid fair to attain the most ,ron.
~ among the n0nsPsculativs IN
Se1tments Of the country and win ~ .s,5-ti.
ee 1870 nat ne msnsy-centres in RurUue-
.. Govsrnment securities have an op-
p'Vsr'q my o. exchanging them for CsptraI p
-i.L . - OeaIlng an equal rate Of interegt
WIKI tAe Prineipa! well secured, and Of
REALIZING A PROEIT OF TEy TO PIP
TEEN PER oESr. IN ADDITION