The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-03-27
Principal & Interest in Gold 0Gin.
Central Pacific Railroad First
Mortgage Bonds.

1t is commonly known that tie General Gov
ernment, for wise purposes, has given its aiC
and encouragement to the construction OF one
MAIN THROUGH LINE OF RAILROAD from the Pa
cifc Ocean across the Territories TO connect
J with the various Eastern Branshes OF the Pa
ciic 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 evel
shown in any sipoilar work in ancient or modern
times-will buiin, 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 SpOssessing
the richest franchise ever granted in this CONT.
nGnt.
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 to this line, and an "appro
priation from the National credit Of SIXTY MIL
LIONS in PER CENT. BONDS delivered as 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 Centage 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, l0hick
shall be the first claim upon The l0hOLe railroad prop
erty and 20 Iohich the lien Of The Government shat
| be subordinate, as a 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, a SEMI NATIONAL
| WORK aided and commended by the people, the
Legislative power and the Executive officers
| though its management is administered Nth al
the care and fOrethOltght Of The most eminent pTUat
corporations. Being under the constant super
viOiOn of the GOvernment-whO, 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 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 1000 miles
of the Main Line and COnverging BTanChes5e.
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.
tornia line Having overcome by far the most
difficult and expensive portion of the whole
nf rtvlp
with the Eastern lines being effected in 1870
amount almost to certainty.
The prominent feature in the progress of the
CESTIsAL PA IFIC RAILROAD is the remarkably
large and profitable Local Business which ig de-
velOped upon the completed portion more than
iustifying the estimates of its pTOiectOrs-that
the immense traffic between the ports of Cali
fOTnia and the mining regions of the inter OF
would sustain tirst-Class 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 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 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 RAILROAD
COMPANY offer for sale theirFI RST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
BONDS. and submit to Investors the
following, among other ObviOus cOnsidera
tons; and invite the comparison with the merits
and excellenCies of any class OF Corporate Sc
curities:
l. These Bonds are based upon the most vital
and valuable part of the Grand National Pacific
Railroad. soon to 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 is now
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 U. 5. Gov.
eminent upon a subordinate lien
V. The State and chief cities of California
have contributed upward of S3OOO,OOO TO the
enterprise without lien.
VI. The grant of land is destined at an early
day to prove of far greater market valuo than
the total of the first mortgage bonds issued
upon tho road and equipments.
VII. This road lies altogether among the gold
and silyer'producing regions, and its revenues
are received in coin.
VIII. The management Of this company has
been in the highest degree prudent and frugal
and the whole surplus, after payment Of expense
and interest, is devoted TO 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 Interest are payable IN
Gold, under special provisions Of both National
and State enactment.
The bonds are in sums OF slOOs each; with
semi-aunual gold coupons attached, and are Of.
fered for sale at IS per cent. of their par value
and accrued interest from Jan. l, added, in cur
rency.
The back interest is charged at six, cent
in currency, though repaid in full in I'd. A
this time they yield nearly
NINE PER CENT. UPON THE INVEST.
NENT.
These bonds bid fair 70 attain the most prom
inent position among the nOnsPeculative in
yestments OF the country and viii be aStively
dealt in AZ the msney-ceDtres in Europe
Holders OF Government securities have an op
pOrtunity Of exchanging them for Central Pa
cihc Bonds bearing an equal rate Of interest
with the principal well secured and Of
4 PROFIT OF TEN TO ZIP
TEEN PER CENT IN ADDITION.