The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-03-11

Central Pacific Railroad FRS
Mortgage Bonds.
1t Is commonly known that the General Gov.
ernmsnt for wise purposes, has given itA aid
and encouragement 70 the construction Of one
MAIN THROUGH LINE or RAILROAD from the Pa
ciio Ocean across the Territories 20 connect
with the various Eastern BTanshes o. the Pa
cito 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
COMPANY-whO are carrying IL forward with
greater energy and persistence than was eve
shown in any slVNilhr work in ancient or modern
times-Will bujla, equip, own and control tn,
Western half of this Through Line. the mos
productive, favored, and valuable portion OF the
whole, and may Justly DO 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 u 500 acres OF the public lands
per mile contiguous t. this line aud an appro.
priation from the National credit Of SIxTf MT
LIONS in PER CENT. BONDS, delivered - 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 a small per osntage Of their net earn.
ings they, therefore, constitute An element Of
great strength 70 the corporations.
Tho Act further authorizes them 10 iAsue an
| equal amount Of their own First Mortgage
| Bonds of corresponding denominations, 1hiek
shan Be the fret claim upon he 'ohOLe railroad prop
srtv and 10 tChich the lien Of he Government shdl
| be subordinate \ means Of more readily secur.
ing the remaining half of the capital for the con.
| struction; the equipments &o, being provided
out Of the capital stock subscriptions and other
sources.
The great CENTRAL PACIFIC RAILROAD IL there
| FORE in an important sense SEIuNATIoNAL
WORK, aided and commended by the people, the
| Legislative power, and the Executive officers,
though its management Ia GdHtnisiered 'otth al
The care and IOTothOug Of tho most sIatnent private
corporations. Being under tho constant super
vision of the Government-who, being tho prin'
cipal creditor accepts a subordinate and oOntin-
| gent lien-with 30 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 vGlue, 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 BranChcsbo.
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 10 the summit Of the Sierra Nevada, and
| into the Great Salt Lake Basin east Of the Call.
lornia 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 uTC RAILROAD il the remark ably
large and profitable Local Business which IL do
velOped upon the completed portion, moro than
iustifyng the estimates Of is pIojectOrs-that
the immense traffic between the ports Of Cali.
fornia and the mining regions Of the inter or
would sustain a brst-claAs 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 viii be doubled
during the coming season, when tho entire
I mountain Ifanhll - ulAue Uy inc ln1ouOllNNs
! 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.
era prosperity Of the company will bo without
| parallel and its securities appreciated oOrres-
| pOndingly The CENTRAL Pacific RAILROAD
} COMPANY offer for sale theirFihST MORTGAGE
I THIRTY.YEAR SIX PER CENT. GOLD
IBONDS, and submit 70 Investors TIE
! following among other obvious cOnsidera
| tons: and invite the comparison with the merits
and eIcellencies Of any class OF Corporate Sc
Gurities:
| I. These Bonds arc based upon the most vital
/ and valuable part Of the Grand National Pacific
Railroad. soon 70 become the main channel Of
communication on the continent.
IL The local settlement and business Their o.
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
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
20 build the road II provided by the L. s. Gov
eminent upon a subordinate lien.
V. The State and chief cities Of California
have contributed upward Of t3,OO0,OO0 70 the
| enterprise without lien.
VI. The grant Of land Is destined At an early
day 70 prove Of far greater market value thar
| the total Of the Rrst mortgage bonds issusd
| upon thu road and equipmsuts-
VII This road lies altogether among the gold
and silver producing regions, and ~ revenues
are received IN coin.
VIII. The management Of this company hAs
| bOen In the highest degree prudent and frugal
and the whole surplus after payment Of sIVsnss
and interest Is devoted 70 construction purps-
ses.
TX. The interest liabilities Of The company
are even nov less than = third the net saThinEs
upon the road pledged
Geld. under special provisions Of beth EatiOns
and STATE enactment
The bonds are In sums Of 1900 each, With
ssrni-annuAl gold coupons attached, and are Of.
fsred FOR sale at % per cent Of their par Vaius,
and accrued interest from Jan. ], adasd In eur.
rency.
The back interest a charged At SKIP cent
IN currency, though repaid In full in SOH
this time they yield nearly
NINE PEI oBST. UPON TIE INVEST
KEBT
These bonds bid fair 70 attain the MOST prom
1 insnt position among the n0nseee1lHays ~
/ vsstunsnts Of the country, and VII % ssuTeJ
| Ssalt no Al tie nsnsy-oeBtrss IN Europa
Holders Of Government securities have ~
poTtuuEty Of exchanging them foE CsEtIl-
/ &c Bonds bearing an equal rate o. Lh'e
With the prinefpal vel secured, Anoo
pR,ZIzryo 4 PROFIT or rES 10 ZIP