The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-01-26
Central Pacific Railroad First
Mortgage Bonds.

CenIraI L acIuc 168IlrOa0 E1rSl
Mortgage Bonds.
1t Is commonly known that the General Gov
! eminent, for wise purposes has given its aid
and encouragement 10 the construction of one
MAIN THROUGH LINE OF RAILROAD from the Pa
cihc Ocean across the Territories 70 conuec,
With the various Eastern branshes Of the Pa
| cinc Railroad system, and which win form the
GRAND TRUNK ROUTE TO the Far West
upon which the mighty trans-continental traffic
! viii concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-who are carrying il forward with
greater energy and persistence than was eVel
shown in any siP,ilar work In ancient or modern
times-will bU'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 r. 500 acres OF the public lands
per mile, contiguous to this line and an appro.
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 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, t0kieh
shall be the first claim upon ne tohos railroad prop
sTty and 10 iOhich the lien Of the Government shall
be subordinate a. q means of more readily secur-
ing the remaining half of the capital for the con.
structioni 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 SEAl-NATIoSAL
WORK, aided and commended by the people, the
Legislative power and the Executive ofhcsus,
though its management il ddsninisteTed With az
the care and CoTethogt Of the most eminent pirate
corporations. Being under the constant super
vision OF the Government-who, being the prin-
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 TO conf.
dence and market vslue, 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 70 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 10 certainty.
The prominent feature in the progress Of the
CRSTRAL PA IFIC RAILROAD ia the remarkably
large and profitable Local Business which 10 de.
velOped upon the completed portion, more than
iustifying the estimates Of its pIojectors-that
the immense traffic between the ports Of Cali
forna and the mining regions Of the int,' or
would sustain frstchss railroad line, even IL
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 the coming season, when the entire
mountaiR transit Is 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 theirF IhST MORTGAGE
THIRTY YEAR SIX PER CENT. GOLD
B . n is, and submit TO Investors TIE
following among other obvious eonsidera-
and eIcellencies 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 10 become the main channel Of
communication on tho 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 is now
built and the remainder will he rapidly carried
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
10 build the road is provided BY the Q. : Gov.
ernment upon q subOrdi lien.
V. The State and chief cities Of California
have contributed upward Of g, 900 90 70 the
enterprise without Lien.
VI. The grant Of land is destiRed at an early
day to prove of far greater market value than
the total Of the first mortgage bonds hsued
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 ana II uEAl,
and the whole surplus, after payment o. "opens
and interest, u devoted to e0nsu"0""A puiP~
ses.
TX. The interest liabilities Of the company
are even now less than thlra tAe heI e@1hIhks
upon the road pledged
Y Both Principal and En,sysH are payabk in
gold. under special provisions Of both Nations
and State enactment
Tbs bonds are in sums Of tiOos each, with
,snI.annual gold coupons attached, and are Of.
Se--d for ale At IS per cent Of their par vaiue,
and accrued interest from Jan. l, hdded, In cur.
rency.
Til. hack interest IL charged At E1y cent
in currency, though repaid in fall in .. ID.
this time they yield nearly
NINE PER GENT. UPON TIE INVEST.
MEM
These bonds bid fair 10 attain the raost yrorn.
inent position among the Ronzpeculatiys in
yestnents Of the country, and Win be astvely
dealt IN az the msney-oentr-s In Europe.
Holders OF Government securities have an Cd.
portunity Of exchanging them for Central Pa
cifc Bonds bearing an equal rate Of interest
with the principal well secured, and Of
REALIZING 4 PROFIT or TN TO FLF
TEEN PEI CgST IN ADDITION