The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-03-06
Central Pacific Railroad First
Mortgage Bonds.

II a. commonly known that the General Gov.
arnmant for wise purposes, has given its aid
and announcement to the construction Of one
MAX THROUGH LINE on E TdLtoroI nom On The Pa
Sritb the various Eastern branshes o. the Pa
"a ~, Roilroad system and which will form the
GRAND TRUNK ROUTE TO the Far West
npon which the mighty traRs-continental traffic
win concentrate.
The CENTRAL PACIFIC RAILROAD
COMP ANY-who are carrying IL forward with
Sreater energy and persistence than was ever
shown In any siplilar work In ancient Oh modern
tjmes-will buiin, equip, own and control the
western half Of this Through Line, the most
produotive, favored, and valuable portion oil The
whole. and may Justly be regarded as possesslnS
che richest franchise ever granted on this cont
nent.
Thu Act of Congress confers upon the Corpo-
rations besides the right OF way across tHv Iet'
yitories A gift Of ~ 500 acres OF the puoho Ahus
per mile, contiguous 70 TINS lne ~ -PS,U
fFIoNs In PER CENT. BONDS dellVerea As the
Sork progresses; or half the estimated cost OF
the Through Line and Branches. these Sub
sidy bonds the company may cancer IN course
OI
soda and small per centage OF their net earn.
- tbev therefore, constitute an element Of
gTeat strength 70 the corporations
Tho Act further authorizes them TO issue an
o,nai amount of their own First Mortgage
Bonds Of corresponding dehomilnARens AoAie4
sSHl bs tks first claim upon ne t0hok rda'raddprgp
~, and 10 .ohieh he lien Of ue GOrerRmsI IAAl
D. ss,,Sor5itaf, "A a means Of more readily secur.
In, tLe remaining half Of the capital for the con
struction; the equipments, 20, being provided
out Of the capital stock subscriptions and other
sources.
The preat CENTRAL Pacific RAILROAD Is there
fore. In an important sense, q SElu'NATloSAL
WORK aided and commended by the people, the
Legislative power and the Executive Officers,
though its management is administered nth al
he care and torethought o. me mod elnukH pr'IaN
eorpordtionS Being under the constant super
yision of the Government-who, being the prin'
cipal creditor, accepts a subordinate and contm.
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 ~
the market possess the sane claims TO cont.
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 branches bo
| tween the Missouri River and the base OF TIC
Rocky Mountains have been built within three
wears The CENTRAL PACIFIC RAILROAD has
also staadny and successfully carried the Main
| Stem Line from the steamboat navigation OF the
Pacific to the summit of the Sierra Nevada ana
into the Great Salt Lake Basin east Of the Can.
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
Central PA IFIC RAILROAD IA the remarkably
! large and profitable Local Business which n do
yeioped upon the completed portion, moro than
! iustffying the estimates Of its pToicctors-thai
! the immense traffic between the ports OF Cali
I fornia and the mining regions Of the int'' OF
would sustain a hrstClass railroad line, even Y
| the overland connections were not built The
net profit upon operating the link OF less than
one hundred miles, thus far, reaches nearly i've
millions in gold; and this ratio will be doubled
during the coming season, when tho enti'
mountalR 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 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 RAiLBoAl
| CoNPANY offer for sale theirFIhST MORTGAGE
| Thirty YEAR SIX PER CENT, COLL
BONDS, and submit To Investors TIE
following, among other obvious consiaerA
tons; and invite the comparison with the merit,
and eIcellenoies Of any class OF Corporate 80
Gurities:
]. These Bonds arc based upon the most Vita
and valuable part Of the Grand National Pacific
Railroad, soon 10 become the main channel VI
communication on the 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 &. nos
built, and the remainder will be rapidly carried
forward over the Salt Lake Plains.
". The greatest part Of the means neCeSay
10 build the road Il provided by the U. > GU.
eminent upon a subordinate lien.
V. The State and chief cities Of California
have contributed upward OF tJ'OOO'V'V 10 u"e
enterprise without lien.
vi. The Grant Of land IL destined AZ an early
day 20 prove 81 far greater market valuo than
the total Of the hrst mortgage bonds Issued
upon tho 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 hs
b0en in the highest degree prudent and frugal
and the whole surplus, after payment Of eIpsnss
and interest, is devoted 70 construction purps
ses
TX. The interest liabilities Of the company
are even nov less than q third the net earrings
upon the road pledged.
X. Both Principal and Inlerest are payaJbis
Gold, under special provisions Of both h'u0n~
and State enactment.
The bonds are in sums OF 5000 eseh ~
semi ann nal gold coupons attached ADD ~.
fered for sale AZ % per cent. Of Ihsfpaf 49,
and accrued interest from Jan. I, IdAod' ID '''
rency. a
The back interest IL charged At six e,h'
in euyTHley, though repaid In full In ga.
this time they yield nearly
EIKR PER OKK7. UPoS TIE INVEST
NEHT.
These bonds bid fair 70 attain the mot prom.
inent position among the nOnsBeculAtiVe In
veztments Of the country, and win BE- actively
dealt In al the msney-oeDtres In Europe
Holders Of Government securities have An op'
portuBity Of exchanging them for Central pa
cihc Bonds bearing an equal rate Of Interest
with the principal well secured, and Of
REALIZING A PROFIT or TEN TO EU
TEEN PER GEM. IN ADDITION