The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-03-13
DESIRABLE
STEADY INVESTMENT.
Principal & Interest in Gold Coin

Central Pacific Railroad First
Mortgage Bonds.
It is commonly known that the General Gov.
eminent, for wise purposes has given its aid
and encouragement TO the construction Of one
MAIN THROUGH LINZ OF RAILROAD from the Pa
citic Ocean across the Territories to connect
with the ariOus Eastern Branshes Of the Pa
/ ciho 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 ever
shown In any siV1ilar 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 be regarded as possessing
the richest franchise ever granted on this nti.
nent.
The Act Of Congress eonfers upon the Corpo-
rations, besides the right of way across the Ter.
ritories, gift Of IL 800 acres Of the public lands
per mile, contiguous to this line and an sppro-
priation from the National credit of SIXTY MIL
LIONS in 6 PR CEST. 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 q small per csntage Of their net earn.
ings; they therefore, constitute an element Of
| great strength TO the corporations.
The Act further authorizes them to issue an
| equal amount Of their own First Mortgage
Bonds Of corresponding denominations, 0hich
shall be the first claim upon he i0hOLe railroad prop
eTty and 10 iOhieh the lien Of the Government shdH
be subordinate, as a means Of more readily secur
ing the remaining half of the capital for the
struction; 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 SRSn-NATioNAL |
WORK, aided and commended by the people, the |
Legislative power, and the Executive officers,
though It's management is administered ioith al |
the care aud JorethOught Of The most eminent private
corporations. Being under the constant super |
visOn of the GOvernment-who, being the prin- |
cipal creditor, accepts subordinate and contin.
gent lien-with 80 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 tho san . claims TO cont.
dence and market value, except those OF the
Government.
Under these favoring auspices very graft lying
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 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 |
CENTRAL PA iF1C RAILROAD IL the remarkably |
large and profitable Local Business which is de.
velOped upon the completed portion, more than |
iustifying the estimates Of its pGOjectOrs-that
| the immense traffic between the ports of Cali. |
! fornia and tho mining regions Of the int, or |
would sustain hrst-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 tar, reaches nearly two
millions in gold; and this ratio will be doubled
during the coming season, when the entire
muuntaiR 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 nhall
be Centered upon the CENTRAL ROAD, the ger
eTal prosperity Of the company VIII be without
/ parallel, and its securities appreciated cores
pondiugly. The CENTRAL PACIFIC RAILROAD
jCoMPANY offer for sale theirFIkSr MORTGAGE
THIRTY-YEAR SIX PER CENT GOLD
BONDS and submit 10 Investors tire
following, among other obvious cOnsilera-
tiOns; and invite the comparison With the merits
and eIcellencios Of any class OF Corporate Sc
/ Surities:
and valuable part of the Grand National Pacific
Railroad soon 20 become the main channel Of
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 IL new
built, and the remainder will be rapidly carried
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road is provided by the Q. $. Gov.
eminent upon a subordinate lien.
| V. The State and chief cities OF California
have contributed upward Of SJ,0OO,OOO TO she
enterprise 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 first 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
! Z -. Il and
! and the whole surplus, after payment Of e1pshse
and interest, is devoted TO construction purpe-
ses
TX. The interest liabilities Of The company
are even now less than third the net earnings
upon the road pledged
\. Bo.h Principal and Tntera.s arc Hays5k ~
Gold, under special provisions Of ooth HA'iOh'
and State enactment.
The bonds are in sums Of 5000 each, WITH
semi-snnual gold coupons AttsoheaI ana are OF
fered for sale At IS per cent. Of tneI P5r v.1e'
and accrued interest from Jan. l. Aaasa' IN eut'
rency.
The hack interest Is charged at siEy cent
in e,lT,Sn1I. though repaid in full In ga. A
this time they yield nearly
NINE PEE 0EEI. UPON TIE INVEST
NEHL
Thsss bonds bid fair 70 attain the most prem
! iusut positiOn among the uOn-sPeculztiTe In.
/ vsstmsuts Of the country, and WI Be aEtively
| dealt In 81 the nsney-oeBtres In Europa
| Holders Of Government securities have An On.
portaHity Of exchanging them fOr Central Pa
| cihe Bonds bearing an equal rate Of interest
with the principal well secured, aad Of
REALLzLY6 4 PROFIT OF TN 10 PIP