The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-02-27
Principal & Interest in Gold Coin.
Central Pacific Railroad First
t Mortgage Bonds.

Mortgage Bonds.
It 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 OF RAILROAD from the Pa
cifc Ocean across the Territories 20 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 trans-continental traffic
win concentrate. .rr....- 81. .a Il
The CENTRAL PACIFIC RAILROAD
C0MPANY-who are carrying it forward with
greater energy and persistence than was ever
shown in any siDNilar work In ancient or modern
times-wil bui,u, 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 confers upon the Corpo-
rations, besides the right Of way across the Ter.
ritories gift Of ~ 800 Of the public lands
per mile contiguous to this line, and sn appro-
priation from the National credit Of SIXTY MI
LIONS In FIR CRNT. 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 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, ishiek
shall be The first claim upon the iohOLe railroad prop
erty and 10 tohich the lien Of the Government SHAH
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, a SESn.NATIoNAL
WORK aided and commended by the people, the |
Legislative power, and the Executive officers, |
though its management Is Administered Nth al |
the care and oretought Of The most eminent priOate
corporations. Being under the constant super
viGiOn Of the GOvernment-who being the prin-
cipal creditor, accepts a subordinate and contn- |
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. ......
progress has been made in extending the railroad
track from both directions. Nearly 1000 miles |
of the Main Line and eonyerging Branches be- |
tween the Missouri Rivor 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 !
fornis line Having overcome by far the most
difficult and expensive portion of the whole |
line, tho 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 int, OF !,
would sustain hrst-class 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 tho 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;
80 that when the overland through traffic 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 theirF Inst MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
BIO n DS, and submit to Investors TIE
following among other obvious consiAera-
TONS and invite the comparison with the merits
and excellencies of any class Of Corporate &C.
Gurities:
l. 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 End profitable, and
must constantly increase.
III. Tho hardest part of the road Is now
built and the remainder will be rapidly carrie d
forward ever the Salt Lake Plains
" The greatest part Of the means necessary
10 build the road il provided by the U. $. Gov.
ernment upon subor diDate lien.
V. Tho State and chief cities of California
have contributed upward Of S3,OOOIOOO 70 the
enterprise without lien.
vi. The grant Of land Is destined 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 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 a third the net earnings
upon the road pledged.
Z. Both Principal end Intercst are pdyabL in
Gold, under special provisions Of both National
! and State enactment,
The bonds are In sums OF 5000 each, with
semi-aunual gold coupons attached and are Of
fered for sale at IS per cent. of their par value,
and accrued interest from Jan. l, added, In cur.
rency.
The back interest Is charged At HiIy cent
in currency though repaid In full In I'D. 4
this time they yield nearly
YISR PER oRSE. UPON TIE INVEST
! NRST
These bonds bid fair TO attain the most prom
ineuf position among the noDseeculztive in
yestments Of the country, and viii be actively
dealt in at the msney centres in Europe.
| Holders Of Government securities have an OPP
portunity Of exchanging them for Central Pa
cisc Bonds bearing an equal rate Of interest
witASthe principal vel secured- and OF
REALIZING A PROFIT OF TEN TO ELE