The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-05-04
Central Pacific Railroad First
Mortgage Bonds.

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
MAN THROUGH LINZ OF RAILROAD from the Pa
cifc Ocean across the Territories 70 connect
! with the various Eastern Branches Of the Pa
ci6c 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 SIMILAR work in ancient or modern
! Western half of this Though Line, the most
productive, favored, and valuable portion Of the
whole, and may Justly be regarded SpOssessing
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 l2 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; CT half the estimated cost Of
the Through Line and Branches. These Sub
| sidy bonds the company may cancel in a course
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 theTa 10 issue an
equal amount of their own First Mortgage
Bonds of corresponding denomin atiens, 'ehicA
shall be the first claim upon the IchOLe TdtToddpToP
erty and 20 lUkieh the lien Of the Cor ernsent shaA
| be subordinate, as q means of more readily secur-
ing the remaining half of the capital for the con-
| structiOn; the equipments, &C., b'hng PROVIDED
out of the capital stock subscription MS and other
sources.
The great CENTRAL PACIFIC RAIL ROAD is there
| fore in an important sense s ESu-NATIoNAL
WORK aided and commended by the people, the
Legislative power, and the Executive officers,
though its management is GdHiHi tered aoith al
the care and OTethoght Ct the most eminent private
corporations. Being under the constant super
vision 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 same claims TO conf
dence and market value, except those of the
! Government.
l UuueT I0OS6 IhVOTluH AubplCs6 very gTAIllyluR
progress has been made in extending the railroad
| track from both directions Nearly 1000 miles
| of the Main Line and COnyerging Branches be
tween the Missouri River and the base Of the
Rocky Mountains have been built within three
wears, 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 tho probabilities Of the through connection
with the Eastern lines being effected in 1870
I amount almost to certainty.
The prominent feature in the progress of the
| CENTRAL PA IPIC RAILROAD is the remarkably
! large and profitable Local Business which IL de-
veloped upon the completed portion, more than
| iustifying the estimates of its pTojectors-that
the immense traffic between the ports Of Cali
| fsrnia and the mining regions of the inter or
would sustain 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 are increased;
so that when the overland through traffic shall
be conferred upon the CENTRAL ROAD, the gon.
oral prosperity of the company viii be without
parallel, and its securities appreciated CORES
pondingly. The CENTRAL PACIFIC RAILROAD
COMPANY offer for sale theirFIRST MORTGAGE !
THIRTY.YEAR SIX PER CENT. GOLD |
BIO N ID S and submit TO Investors the |
following among other obvious cOnsidera- |
tions and invite the comparison with the merits |
and eIceuencies Of any class Of Corporate 50
surities;
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 viii 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. s. Gov. |
eminent upon subordinate lien.
V. The State and chief cities Of California
have contributed upward Of g. 900, 600 to the
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 It's revenues
are received In coin.
been in the highest degree prudent and frugal
and the whole Surplus, after payment of expensa
and interest is devoted to Construction purps-
ses.
TX The interest liabilities Of the oonp.pv
are even now less than third the net earnings
upon the road pledged.
! x Both Principal and Interest are pavaJL, IN
Gold, under special provisions Of both National
and State enactment.
The bonds are in sums Of 1900 each. with
sem annual gold coupons attached, Dad are OF
fered for sale at IS per cent. Of their par value
and accrued interest from Jan. /, adssd. In en-,
rency.
The back interest is charged at siIy cent
IN currency though repaid In fuIl In AID. A
this time they yield nearly
ErSE PER CEET. UPON THE INVEST.
AEyL
These bonds bid fair 70 attain the mo-. 49,
nent position among the non-specnIatiys In.
S esfnents Of the country and win be actively
dealt I9i, in at the msney-ceBtres in Europe.
ao.asrs Of Government securities have an OBJ
eihc Bonds bearing an equal rats Of Istsrest
WIZ the principal well secured, and Of
REALIZING A PROFIT OF TEN TO PIP
TEEN PER CENT. IN ADDITION
Orders sent with the funds through respOnsi.
OIe Banks or Express Companies viii receive
prompt attention. Bonds Ssnt by return EI