The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-01-25
Central Pacific Railroad First
Mortgage Bonds.

It Is commonly known that the General Gov.
ernmsnt for wise purposes, has given its aid
and encouragement to the construction Of one
NAN THROUGH LINE OF KAILRoAD from the Pa
cifc Ocean across the Territories 70 connect
with the various Eastern Branshes Of the Pa.
cifc Railroad system, and which viii form the
GRAND TRUNK ROUTE 10 the Far West,
upon which the mighty traRs-continentAl traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
C0MPANY-who are carrying il forward with
greater energy and persistence than was ever
shown in any SIMILAR work in ancient OF modern
times-will bui,a, equip, own and control the
Western Hah 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 IL 500 acres OF the public lands
per mile contiguous 70 this line and An Appro.
priation from the National credit Of SIKH NIL.
LIONS in PRR CENT. BONDS, delivered A. the
work progresses; or half the estimated cost OF
the Through Line and Branches. These Sub
Of years by the transportation services Of the
Roads, and . small per csntage Of their net earn
ings; they, therefore, constitute An element Of
great strength 70 the corporations.
The Act further authorizes them to issue an
equal amount Of their own First Mortgage
Bonds Of corresponding denominations, teh'eh
shall BE- tie first claim upon the trhoe railroad prop
erty, and 10 tOhiek the lien Of the Government shall
be subordinate as . means of more readily secur
ing the remaining half Of the capital for the con
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 . SELn-NATIoEAL
WORK aided and commended by the people the
Legislative power and the Executive otficen,
though its management 10 administered vttA al
the care and foretkOtigh Of the most cD''nei PIRATE
CORPORATIONS. Being under the constant super
visiou OF the Goyernment-who, being the prin'
cipai 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 value, except those Of the
Government.
Under these favoring auspices very gratifying
progress has been made in extending the railroad
track from both directions. Nearly 1900 miles
of the Main Line and c0nverging Branches be
tween the Missouri River and the base Of tn,
Rocky Mountains have been built within thret
years. The CENTRAL PACIFIC RAILROAD ha,
also steadily and successfully carried the Main
Stem Line from the steamboat navigation Of the
Pacific 10 the summit Of the Sierra Nevada, anC
into the Great Salt Lake Basin east Of the Call
fOrnia line. Having overcome by far the most
difficult and expensive portion Of the whole
H. l,1Ittfna aFf Ia
with the Eastern lines being effected in is7O
amount almost to certainty.
The prominent feature in the progress OF the
CENTRAL PA IFIC RAILROAD Ia the remarkably
large and profitable Local Business which II de
velOped upon the completed portion, moro thar
iustifytng tho estimates Of its professionalism
the immense traffic between the ports Of Cali
fornia and the mining regions Of tho inter OF
would sustain . first-class railroad line, even n
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 Il made by the locomotive.
With every extension of the track, the business
and profits OF the completed part arc increased;
40 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 RAILROAD
CoMPASY offer for sale theirFIkST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
BONDS, and submit 20 Investors the
following, among other obvious eonsidera-
tons; and invite the comparison with the merits
and e1cellences Of any class Of Corporate ~
surities:
/. These Bonds are based upon the most vita
and valuable part of the Grand National Pacib'
Railroad soon 10 become the main channel o
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 now
built, and the remainder will be rapidly carrie
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
IN build the road IL provided by the O. .. Gov
erRmont upon a subordinate lien.
V. The State and chief cities Of California
have contributed upward Of t3OOO,OJO 70 tbs
enterprise without Len.
VI. The grant Of land IL destined AZ an early
day TO prove Of far greater market value thar
upon the road and equipments.
. VII. This road lies altogether among the gol d
and Eilver.produeinE regions, and its revenues
are received in coin.
VIII. The management Of this company hSS
been in the highest degree prudent and frugal
and the whole surplus, after payment OF eIpSnss
and interest, IL devoted 70 Construction purpS
SEA-
TX. The interest liabilities Of the company
are even now less than third the net esrhiRE'
upOH the road pledged.
K. Both Prneipal and Trl,,rsH Grs payable 4
Gold, under special proViEiO0I q both Nations
and State enactment.
The bonds are II sums Of 1900 each, viii
ssmi-annual gold coupons attached, and are Of
fered for sale At o5 per cent. Of their par value
and accrued interest from Jsn. ! AdSsd In cur
rency.
The back interest Is charged at dIp esnt
In currency, though repaid in fall in gyA.
this time they yield nearly
NINE PER CEEI. UPON Thb hVEbI
KEYT.
These bonds bid fair 20 attain the most prom
| inent position among the B0nSpeculAoTe ~
vestments Of the country. and win b aHaVeil
/ dealt in az the msney centres IN Europe
Holders Of Government srcurities have an gP
| p0rtunity Of exchanging them for CentrAI ~
/ ccihc Bonds bearing an equEl rate Of Interest,"
/ with the principal vel secured and Of
REALIZING 4 PROFIT OF EES !" '1'
TEEN PER CENT N ADDITION
d.. an, Nth the funds thrOagh responAi
OT9sI Ls - EIpress Companies VIII reoeiv'
ole CO e .-..S1ti0n. Bonds Bsnt BY return Er
I urOIpL - -. T-Es "A -