The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-03-19
Central Pacific Railroad First
Mortgage Bonds.

1t is commonly known that The General Gov
ernmOnt for wise purposes has given its ali
and encouragement 20 the construction Of on,
NAN THROUGH LINK or RAILROAD from the Pa
citc Ocean across tho Territories 70 cOnnec
with the various Eastern Branshes q the Pa
cine Railroad system, and which win form tn,
GRAND TRUNK ROUTE 10 the Far West
upon which the mighty traRs-continental trafhI
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-whO are carrying 10 forward wit
greater energy and persistence than was eve
shown in any SIMILAR work in ancient or moder
times-will 1uiln, 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 Apossessinl
the richest franchise ever granted On this cont
nent.
The Act Of Congress oonfers upon the Corpo
rations, bCSides the right Of way across tho Ter
ritories gift Of - sou acres OF the public land
per mile, contiguous to this line, and an appro
priatiOn from the National credit OF sixty MIL
LIONS in PER CENT. BONDS, delivered - the
work progresses; OF half the estimated cost OF
the Through Line and Branches. These Sub
shy UOuuh company may NAENti IN = GeuftN
Of years by the Transportation services Of the
Roads and small per centage Of their net earn
ings; they, therefore, constitute An element OF
great strength to the corporations.
The act further authorizes them 20 issue an
equal amount Of their own First Mortgage
Bonds of corresponding denominations, toAieh
shall be The first claim upon The ichOls railroad prop
erty, aud 20 i0hieh he lien Of he Government shall
be subordinate as q means of more readily secur.
ing the remaining half OF the capital for the con.
structiOn; the equipments, 60, being provided
out Of the capital stock subscriptions and other
sources.
The great CENTRAL PAcTFTe RAILROAD IL there
fore, In an important sense, q SRsu'NAToNAL
WORK, aided and commended by the people, the
Legislative power and the Executive otiicerA
though its management IL administered tUth al
NE care and IOrcthough Of The most eminent priud,s
sorpordti0ns Being under the constant super
WHOM of tho 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,
10 Is believed that no securities now offered in
the market possess the sane claims 10 cOnh.
dence and market value, except those Of the
Government.
Under these favoring auspices very gratifying
track from both directions. Nearly 1000 miles
of the Main Line and o0nverging Branches DO,
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 20 the summit Of the Sierra Nevada, and
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
line, the probabilities Of the through connection
with the Eastern lines being effected in 1910
amount almost 10 certainty.
The prominent feature In tho progress Of the
CENTRAL PA nIC RAILROAD Is tho remarkAb
arEe and profitable Local Business which IL dc.
yelOped upon the completed portion moro than
ustifyinR the estimates Of its projcctOrs-that
he immense traffic between the ports Of Cali
Iornia and the mining regions OF tho Inter OF
would sustain hrst-class railroad line, even II
the overland connections were not built. The
net profit upon operating tho 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
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 centered upon the CENTRAL ROAD, the gen.
eral prosperity Of the company will be without
parallel and It's securities appreciated CORES
The CENTRAL Pacific RAILROAD
COMPANY offer for sale theirFIkST MORTGAGE
YEAR SIX PER CENT. GOLD
B NDS, and submit 20 Investors the
among other obvious cOusiaera-
tons; and invite the comparison with tho inertia
and eIcellencies Of any class OF Corporate se.
surities
I. These Bonds arc based upon the most vital
and valuable part Of the Grand National Pacific
Railroad, soon TO become the main channel OF
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 tho road IL now
built and the remainder viii be rapidly carrie d
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road Il provided by the u. =. Gov.
eminent upon a subordinate Hen.
V. The State and chief cities Of California
have contributed upward Of 5000 900 70 the
enterprise without len.
VI. The grant Of land Is destised AZ an early
day % prove Of far creator market value than
the total Of the first mortgage bOndH lssuso
upon tho road and equipments
VII. This road lies altogether among the Eol q
md silver producing regions, and it. revenues
IRE received In coin.
VIII The management Of this company has
,aen 10 the highest degree prudent and frugal
md the whole surplus after payment Of expense
md interest, IL devoted 20 construction purps-
zee.
IL. The interest liabilities Of the company
IRE even now les than a third the net sarninEs
IpOn the road pledged
X Both Principal and TniSTer are psyabL N
5Old under special provlsiOns Of both National
,ndStats enactment.
The bonds are In EunI OF lOOe each. With
gold coupons attached, and are o.
'ered for sale a. o. per cent. Of theiT par value
md accrued interest from Jan. I. ldasd. In cur
-ency.
The back Interest IL charged a. SKIP cent
10 eurrebev though repaid In fall In gid. a
this tine they yield nearly