The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-01-28
STEADY INVESTMENT.
Principal & Interest in Gold Coin.
Central Pacific Railroad First
Mortgage Bonds.

Mortgage Bonds.
1t is commonly known that the General Gov.
ernment for wise purposes has given its aid
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.
cihc Railroad system, and which will form the
GRAND TRUNK ROUTE to the Far West,
upon which the mighty trans-continental traffic
will concentrate.
Tho CENTRAL PACIFIC RAILROAD
C0MPANY-who are carrying il forward with
greater energy and persistence than was ever
shown in any siVNilar work in ancient or modern
times-will bui'I, 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 conters upon the Corpo-
ratiOns, besides the right Of way across the Ter.
ritories gift Of ~ 500 acres of the public lands
per mile, contiguous t. this line and sn appro-
pnation from the National credit Of SIXTY NIL
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 q course
Of years by the Transportation services Of the
Roads, and q small per centage Of their net earn.
ings; they, therefore, constitute an element Of
great strength 10 the corporations.
| The Act further authorizes them to issue An
| equal amount of their own First Mortgage
Bonds Of corresponding denominations, Whieh
shall be the first claim upon the IchOLe railroad prop
a ~ ~ Ill
be subordinate, 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.
| fore in An important sense q SEMINAToNAL
| WORK aided and commended by the people, the
! Legislative power, and the Executive officers,
| though its management Is administered With al
the care and IorethOugh Of the most eminent pirate
corporations. Being under the constant super
yision Of tho GOvernment-who, being the pr1n-
cipal creditor, accepts n subordinate and contin-
| gent lien-with so 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 10 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 the Eastern lines being effected in 1870
amount almost TO certainty
The prominent feature in the progress Of the
| CESTRAL PA IFIC RAILROAD is the remarkably
large and profitable Local Business which il do.
veloped upon the completed portion, more than
| iustifying the estimates of its pToiectors-that
| the immense traffic between the ports of Cali.
| fornia and the mining regions Of the intvi or
would sustain q trst-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 lar, 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;
I 40 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
! pOudingly. The CENTRAL PACIFIC RAILROAD
COMPANY offer for sale theirFIhST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
BONDS, and submit TO Investors tie
following, among other obvious consiaera-
tons; and invite the comparison with the merits
and eIcellencies of any class Of Corporate &c.
surities:
I. These Bonds are based upon the most vital
and valuable part Of the Grand National Pacific
Railroad soon 10 become the main channel Of
communication on the continent.
II. The local settlement and business there.
from is remarkably large and profitable, aud
must constantly increase.
III. The hardest part Of the road is now
built and the remainder will be rapidly carried
forward over 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 5000 90 10 the
enterprise without lien.
VI The grant Of land is destined at an early
day 10 prove Of far greater market valne than
the total of the first mortgage bonds issued
upon the road and equipments.
| VII. This road lies altogether among the gold
I and silver producing regions, and lie revenues
are received ia coin.
VIII. The management Of this company hAs
been in the highest degree prudent and trugAl,
/ and the whole surplus, after payment OF etPeh"
/ and interest, is devoted 10 construction Porpe-
/ ses.
TX. The interest liabilities Of the company
! are even now less than = third the net earnings
| upon the road pledged
x Both Principal and IEtfrsIt are pdydok n
! Gold under special prUvisions Of ooih NATIONAL
and state enactment
The hand. are in suns Of 1900 each with
.s,,I.annHai gold coupons attached and are Of
$50 fo- al. AZ IS per cent Of their par value
| and accrued interest from Jan. /, AIDED, in cur.
| rency.
! The hack interest Il charged at ak cent
/ :, .,rr,Sn-J though repaid u full 10 q a. A
I this time they yield nearly
NINE PER oBy1. UPON THE INVEST.