The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-01-20
Central Pacific Railroad First
Mortgage Bonds.

rH... .H.
1t is commonly known that the General Gov
ernmsnt, for wise purposes has given its ait
and encouragement TO the construction of one
MAIN THROUGH LINE OF RAILROAD from the Pa
chic Ocean across the Territories 10 connect
with the various Eastern Branshes Of the Pa
citic Railroad system, and which win form the
GRAND TRUNK ROUTE to the Far West
upon which the mighty trans.cOntinental traffic
will concentrate. H....
The CENTRAL PACIFIC RAILROAD
C0MPANY-who are carrying 1t forward witt
greater energy and persistence than was eve
shown in any siuNilar work in ancient or moderI
times-wil bui,u, equip, own and control the
Western Half Of this Through Line. the mos
productive favored and valuable portion Of the
whole, and may Justly be regarded as possessing
the richest franchise ever granted on this CONT
nent. I ...
The Act Of Congress confers upon the Corpo
rations, besides the right of way across the Ter
ritories gift Of IL SOY acres OF the public land
per mile, contiguous to this line, and an appro
priation from the National credit Of SIXTY nil
LIONS in PER CENT. BONDS, delivered rs the
work progresses; or half the estimated cost o.
the Through Line and Branches. These Sub
sidy bonds the company may cancel in q csurst
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 TO tho corporations.
The Act further authorizes them to issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, tchick
shall be the first claim upon The toAoe railroad prop
erty and 20 irhich the lien Of the Government shat
be subordinate as Q 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 other
sources.
The great CENTRAL Pacific RAILROAD is thero
fore in An important sense, q SESI-NAfIoNAI
WORK aided and commended by the people, the
Legislative power, and the Executive officers,
though its management is administered tctu az
the care aud JorethOug Of the most eminent private
corporations. Being under the constant super
vision Of the GOyeTnment-who, being the pTin-
cipal creditor accepts n subordinate ana conun'
gent lien-with so largo an amount OF addition
al capital also invested in the property pledged,
it 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 gratifying
progress mas DCen maze IN extending the rAllIOdu
track from both directions. Nearly 1000 mile:
of the Main Line and c0nverging Branches he
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, tho 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 IL the remarkably
large and profitable Local Business which Is de.
veloped upon the completed portion, more than
iustifying the estimates OF its professionalism
the immense traffic between the ports of Cali
fOrnia and tho mining regions of the int or
would sustain trst-class railroad line, even II
the overland connections were not built. The
net prOdt upon operating the link OF less than
one hundred miles, thus Tar, 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 increasedj
50 that when the overland through traffic shall
be- Centered upon the CENTRAL ROAD, the gen
eTal prosperity OF tne company WIN po "iNhVu'
parallel, and its securities appreciated cores
pOndingly. The CENTRAL PACIFIC RAILROAD
CoMPASY offer for sale therFIkST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
BON DIS, and submit TO Investors TIE
following, among other obvious considera.
tons; and invite the comparison with the merits
and excellencics Of any class OF Corporate &C.
Surities:
l. These Bonds are based upon tho most vital
and valuable part Of the Grand National Pacific
Railroad, soon TO become the main channel OF
communication ON the continent.
II. The local settlement and business Their g.
from Is remarkably large and profitable, and
must constantly increase.
III. The hardest part of the road Is 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 L. ;. Gov
eminent upon a subordinate lien.
V. The State and chief cities Of California
have contributed upward Of S3,OOO.OOO 20 the
enterprise without lien.
VI. The grant Of land is destined at an early
W plOFt Oh lAl klt1ANA iiA@a
the total Of the first mortgage bonds issued
upon the road and equipments
= VII. This road lies altogether among the gold
and silver producing regions, and its revenues
are received in coin.
VIII. The management Of this company has
boen in the highest degree prudent anu HugA
and the whole surplus, after Jay ment o. pen
and interest, Is devoted to CONSTRUCTION PurPe'
ses.
TX. The interest liabilities Of the company
are even now less than third the net earrings
upon the road pledged
Y Roth Principal and TntersH are pdyabk q
cold Dnder special provisions Of both SEtionA
and State enactment
The bonds arc in sums OF 1900 each viii
semi-annual gold coupons attached, and are OF
fered for sale az IS per cent Of their par value
and accrued interest from Jan. !, added, In cur.
relcy.
The hack interest is charged At six, cent
in currency, though repaid in foil in y"H A
this time they yield nearly
YLSB PEI CES1. UPON TIE INVEST
MEM
These bonds bid fair to attain the most prom
iDent position among the nOnsBscalative in
yestnents Of tie country, and viii be actively
dealt In at the msDey-centres IN Europe.
Holders OF Government securities have an op
portunity Of exchanging them for Central y;
cifc Bonds bearing an equal rate Of interest
with the principal vel secured, and Of
REALIZING 4 PROFIT or TN TO ZIP
TEEN PER CENT. IN ADDITION
Orders sent with the funds through response
bic Banks or Express Companies WI reeeIys
Ronda BY return II