The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-05-01
Central Pacific Railroad First
Mortgage Bonds.

Mortgage Bonds.
It il commonly known that the General Gov.
eminent, for wise purposes, has given its aid
and announcement to the construction of one
MAIN THROUGH LINE OF RAILBoAp nom tho Pa.
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
win concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-who are carrying II forward with
greater energy and persist Nnce than was ever
shown in any siUlilar work IN ancient or modern
times-wil builu, equip, own and control the
Western Half of this Through Line. the most
productive, favored and valuable portion of the
whole, and may Justly BIO regarded Apossessing
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 II 500 acres OF tho public lands
per mile, contiguous to this line, and an appro-
priation from the National credit Of SIXTY NIL
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 20 the corporations.
The act further authorizes them to Issue an
equal amount of their own First Mortgage
Bonds of corresponding denominations, 'oh'cI
shall be the first claim upon the a0hos railroad prop
eTty and 10 tCkieh the lien Of the Government shat
be Stlbordindte as a means of more readily secur
ing the remaining half Of the capital for the con
stTuctiOn; 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 SESnNATIOHAI
WORK, aided and commended by the people, the
Legislative power, and the Executive officers
though ito management is administered 10Th al
the care and JorethoEgh Ct the most eminent priUGt
corporations. Being under the constant super
vision of the GOvernment-whO, being the prin'
cipal creditor, accepts q 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 same claims to conf.
dence and market velue, 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 c0nverging 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 steam boat 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 IF1C RAILROAD is the remarkably
large and profitable Local Business which IL de.
veloped upon the completed portion, moro than
iustifying the estimates of its pIojectOrs-that
the immense traffic between the ports of Cali.
fernis and the mining regions of the inter or
would sustain frst-class railroad line, even IL
tho Overland connections wsro not built. Tho
net profit upon operating the link Of less than
one hundred miles, thus far, reashes nearly two
millions in gold; and this ratio will be doubled
during the coming season, when tho 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 tho 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
BONDS and submit TO Investors the
following, among other obvious cOnsidera-
tons; and invite the comparison with the merits
and eXcellenoies of any class Of Corporate Sc
surities:
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 Nsettlement and business there.
from is remarkably large and profitable, and
must constantly increase.
III. The hardest part Of the road Is now
built, and the remainder viii be rapidly carried
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 a subOr dinate lien.
V. Tho State and chief cities Of California
have contributed upward Of 6 OOO, 900 to the
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 Arst 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
been in the highest degree prudent and frugal
and the whole surplus, after payment OF expense
and interest, is devoted 70 construction Hurpe-
Ses.
TX. The interest liabilities Of the sonpapy
are evennoW less than third the net earnings
upon the road pledged
K. Both Principal and Tnterest are paydbL, In
Gold, under special provisions Of both National
and State enactment
The bonds are in Sums Of $1,000 each With
sem annual gold coupons attached, AHd are Of.
fered for sale At IS per cent. OF their par value
and accrued interest from Jan. !, adasd. in cur,
rency.
The back interest il charged At ak ran,
IN euTTsscy, though repaid In full In ala
this tine they yield nearly
SIEs PER oEyr. UPON TEE ryvEs,
NEBT.
These bonds bid fair 70 attain N. No.. -
Lnent Poainon among the nOn-sne1-I.,irRn 'o IN
,estments Of the country, and VII b. .s,i-. N
e a., 70 AZ me msney-esDtres in Rurone '
hotdsrs OF Government secuTities ~
~ unity Of sIchangi ng them for Co. y
- DOnos bearing an equal rate m ir+S-s.. /
"''n the principal well secured, and Of
REALIZING 4 PROFIT OF TEN TO PIP
TEEN PER CENT IN ADDITION.
4, O p sent With the funds through rssponsi-
- "a Is or EIpress Companies VII receive
,.OPt attention. Bonds ssut By return EK
- 70 any address In the United Sssses, ~
~ oOst lniorDAtion, Descriptive pamphlets,
= APs &c furnished on application AZ The Office
. tne railroad Company, No. - Hnla1