The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-03-01
Central Pacific Railroad First
Mortgage Bonds.

1t is commonly known that the General Gov.
eminent, for wise purposes, has given its aid
and encouragement to the construction of one
MAIN THROUGH LINE OF RAILROAD from the Pa
citic Ocean across the Territories 10 connect
with the various Eastern Branches Of the Pa
cific 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 il forward with
greater energy and persistence than was ever
shown in any siV,ilar work in ancient or modern
times-will buiin, 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 cOnti
nent.
The Act of Congress confers upon the Corpo.
rations besides the right of way across the Ter.
rtores, gift of IL 800 acres of the public lands
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 OF
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.
ings they, therefore, constitute an element Of
great strength TO the corporations.
The Act further authorizes them to issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, Iohich
shall be the first claim upon the GphOLe railroad prop
erty, and TO which the lien Of the Government shall
be subordinate, as 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 there.
fore, in an important sense, q SESII-NATIoNAL
WORK, aided and commended by the people, the
Legislative power, and the Executive officers,
though its management Is administered Nth all
the care and orethotg Of the most eminent pirate
corporations. Being under the constant super
vi6on 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 gratifying
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 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, the probabilities of the through connection
with tho 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 is de.
velOped upon the completed portion, more than
iustifying the estimates of its pIOjeCtOrs-that
the immense traffic between the ports of Cali
fOrnia and the mining regions Of the intr' or
would sustain n first-class railroad line even il
the overland connections were not built. The
net profit 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 il 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 conferred 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 theirFIhST MORTGAGE
THIRTY-YEAR SIX PER CENT. GOLD
b D ID S, and submit to Investors the
tons; and invite the comparison with the merits
and excellencies OF any class OF Corporate Sc.
Gurities:
I. These Bonds are based upon the 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 there.
from is remarkably large and profitable, and
must constantly increase.
III. The hardest part of the road ia now
built, and the remainder will be rapidly carrie d
forward ever the Salt Lake Plains.
". The greatest part of the means necessary
to build the road is provided by the U. 5. Gov
eminent upon a subordinate lien.
V. The State and chief cities of California
have contributed upward Of s3OOOOoO to the
enterprise without lien.
VI. The grant of land is destined at an early
day to prove Of far greater market value than
inc UOIdl OF Tue uTSl bRaSS SNHN' A9'HNN
upon tho road and equipments.
VII. This road lies altogether among the gol 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 frugal,
and the whole surplus after payment OF expense
and interest, Is devoted to construction purpe'
ses-
TX. The interest liabilities Of the company
are even now less than third the net earnings
upon the road pledged.
K Both Principal and Interest are pGyabls in
Gold, under special provisions Of both National
and State enactment.
The bonds are in sums Of $1,000 each, with
semi-snnual gold coupons attached, and are Of.
fered for sale at 95 per cent of their par value,
and accrued interest from Jan. l, added, in cur.
rency.
The back interest is charged at six cent
in currency, though repaid In full In gid. A
this time they yield nearly
NINE PER CENT. UPON THE INVEST
KEYT.
These bonds bid fair to attain the most prom
iuent position among the nonsPeculative in
vestments of the country, and viii be actively
| dealt in al the msney-ceDtres in Europe.
Holders Of Government securities have an op'
portunity of exchanging them for Central Pa
| cific Bonds bearing an eqnal rate Of interest
with the principal well secured, and Of
REALIZING 4 PROFIT OF TEN TO PIP