The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-01-14
Central Pacific Railroad First
Mortgage Bonds.

Mortgage Bonds.
1t is commonly known that the General Gov
ernmont for wise purposes, has given its AiC
and encouragement 10 the construction Of ons
MAIN THROUGH LINZ OF RAILROAD from the Pa
| ciic Ocean across the Territories 70 connect
with the various Eastern branches Of the Pa
| cifc Railroad system, and which will form the
GRAND TRUNK ROUTE 20 the Far West
upon which the mighty traRs-continental traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
C0MPANY-who are carrying IL forward viii
greater energy and persistence than was eve
shown in any siV,ilar work in ancient or modern
times-will buiiu, equip, own and control tn,
Western Half of this Through Line, the mos
productive, favored, and valuable portion Of th,
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 ~ 800 acres OF the public lands
per milo, contiguous 10 this line, and an appro.
priation from the National credit Of SIXTY NIL.
| LIONS in 6 PER CENT. BONDS delivered A. the
| work progresses; or half the estimated cost OF
the Through Line and Branches. These Sub
sidy bonds the company may cancel in q course
| Of yearB by the Transportation services Of the
Roads, and . small per centage Of their net earn
ings; they, therefore consulate an element OF
great strength 70 the corporations.
The Act further authorizes them 20 issue an
equal amount Of their own First Mortgage
Bonds Of corresponding denominations, iohieh
shall be The first claim upon ne iohok railroad prop
erty aud 10 i0hieh the lien Of the Government shdL
/ be subordinate as q means of more readily secur
ing the remaining half Of the capital for the con,
| structioni the eauipments &c, being provided
out of the capital stock subscriptions and other
| sources.
The great CENTRAL PAcTFTe RAILROAD Is there
| fore, In an important sense q NATIONAL
WORK aided and commended by the people, the
Legislative power, and the Executive officers,
though its management L. administered 'e'h az
~ care and Coretkoght Of the most eminent prtsdte
corporations. Being under the constant super.
vihiOn of the COMMANDMENTS, being the prin'
cipal creditor, accepts 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 tho sane claims to conf.
denCe and market value, except those Of the
| Government
Under these favOring auspices very graft iying
progress has been made in extending the railroad
track from both directions Nearly 1000 miles
of the Main Line and convergug 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 10 certainty.
The prominent feature in the progross Of the
CESTRAL PA IFIC RAILROAD IL the remarkably
large and profitable Local Business which is de.
veOped upon the completed portion, more than
iustifying the estimates Of its pTojoctOrs-that
the immense traffic between the ports Of Cali.
foTnia and the mining regions OF the inter or
would sustain a frst-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 far, reaches nearly two
millions in gold; and this ratio will be doubled
during the coming season, when the entire
mountain transit Is made by the locomotive
With every extension Of the track, the business
and profits Of the completed part arc increased
80 that when the overland through traffic shall
be centered upon the CENTRAL ROAD, the gen
eral prosperity of the company will be without
pOndingly. The CENTRAL PACIFIC RkILBoAD
CoMPANY offer for sale therFIkST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
bon DIS, and submit 10 Investors TIE
following, among other obvious oonsiaera-
tons; and invite the comparison with the merits
and eIcellencies Of any class OF Corporate 50
curities:
/. 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 the continent.
II. The local settlement and business there.
from IL remarkably large and profitable, and
must constantly increase.
III The hardest part Of the road is now
built, and the remainder will be rapidly carrie
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road il provided by the q. y Gov.
eminent upon a subordinate lien.
V. The State and chief cities Of California
have contributed upward Of S1,OoO,OO0 70 the
enterprise without lien.
VI. The grant Of land Is destined at an early
day 70 prove Of far greater market value than
the total Of the FIRST mortgage bonds Issued
upon the road and squiDmsHe
. VII. This road lies altogether among the gold
and silver producing regions, and lie revenues
are received In coin.
been in the highest degree prudent and frugal,
and the whole surplus after payment OF expense
and interest, IL devoted 10 construction purpe-
ses.
TX. The interest liabilities Of the company
are even now less than a third the net earnings
upon the road pledged
K. Both Principal and Tntsrest are pdydJk -
God, under special provisions Of both SAtiona'
and State enactment.
The bonds are in sums Of 1900 each, with
ssmi-annuAl gold coupons attached, and are o.
fered for sale at 95 per cent Of their par yaiue,
and accrued interest from Jan. !. Sdaed In eur.
reney.
The back interest il charged At siIY cent
In currency though repaid In full in gid
this time they yield nearly
NINE PER oRSE. UPON THE INVEST.
HEET
These bonds bid fair 70 attain the most prom
inent position among the nonEReeulatiye IN
yestments Of the country, and VIII Be AsuVeiJ
dealt in at the msney-eeptres In Europe.
Holders OF Government securities have AZ ~
portunlty Of exchanging them for CentrL re
cifo Bonds bearing an equal rate Of inte1os'
with the principal vel secured and OF
REALIZING A PROFIT or LES J" f11
TEEN PER CRSE ~ ADDIIIoS.
Order, sen. With q: fanSs through en- resDC11,i
PIE o. n...,s1.ios. Bonds sSnt BY return IL
PIomPt - ADDRESS In the United states a
PIe.s liberation Descriptive pamphlets,
e. re, furnished on application II The os1es
~ e Railroad Company, No. 81 WihAD