The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-03-09
Central Pacific Railroad First
Mortgage Bonds.

MOrtR age Bonds.
It is commonly known that the General Gov.
eminent for wise purposes, has given its aid
and encouragement TO the construction Of one
MAIN THROUGH LINZ CT RAILROAD from the Pa
cifc Ocean across the Territories TO connect
with the various Eastern bransbes Of the Pa
cifc Railroad system, and which will form the
GRAND TRUNK ROUTE 70 the Far West
upon which the mighty trans-contineutal traffic
will concentrate.
The CENTRAL PACIFIC RAILROAD
COMPANY-who are carrying il forward with
greater energy and persistence than WAS ever
shown in any siVNilar work in ancient or modern
times-wil builr, 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 as possessing
the richest franchise ever granted on this CONT.
nent.
The Act Of Congress oontsrs upon the Corpo-
rations, besides the right Of way across the Ter,
ritOries q gift Of ~ so acres OF the public lands
per mile, contiguous to this line, and an appro-
priation from the National credit Of SIKH NIL
work progresses; or half the estimated cost OF
the Through Lins and Branches. These Sub
ldy bonds the company may cancel in q course
Of years by the Transportation services Of tho
Roads, and = small per osntAge OF their net earn.
ings; they, therefore, constitute an element Of
great strength 10 the corporations.
The Act further authorizes them 10 issue an
equal amount Of their own First Mortgage
Bonds Of corresponding denominations, SAieh
shall be the first claim upon he tchOs TGlTodd prop
sTty, and 10 Wkieh tie len Of he Government shall
be subordinate, as 4 means Of moro 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 . SEMNATioNAJ
WORK, aided and commended by the people, the
Legislative power and the Executive ofioers
though its management IL administered vita al
he care and JOrSthOugh ol the most eminent pirate
eorpordtiOnS Being under the constant super
viAion of the Government-who, being the prtn'
Cipal creditor, accepts subordinate and contin.
gent lien-with 90 large an amount of addition.
al capital also invested in the property pledged,
10 Is believed that no securities now offered In
tho market possess tho sane claims 10 conh-
denoe and market vRlue, 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 branches be
tween the Missouri River and the base Of tho
Rocky Mountains have been built within three
years The CENTRAL PACIFIC RAILROAD has
also steadlIy and successfully carried tho 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
f0rnia line. Having overcome by far the most
difficult and expensive portion OF tho whole
line, the probabilities Of the through connection
with tho Eastern lines being effected In 1870
amount almost 10 certainty.
The prominent feature IN the progress Of the
CENTRAL PA IFIC RAILROAD il the remarkably
large and profitable Local Business which Ia do.
yeloped upon the completed portion, mOYp than
iustifying the estimates of It's proiectors-that
he immense traffic between the ports Of Cali.
tOrnla and the mining regions Of tho int,I or
would sustain tirst-class railroad limo, even 10
tho 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 b. doubled
during the coming season when the entire
muuntaiR transit Is made by the locomotive. !
With every extension Of the track the business
and profits Of the completed part are increased;
40 that when the overland through traffic shall
be centered upon the CENTRAL ROAD, the gen. /
era prosperity Of the company will DO without
parallel aud It's securities appreciated CORES
pOndingly. The CENTRAL Pacific RAILROAD
CONPANY offer for sale theirFIHlST MORTGAGE /
THIRTY.YEAR SIX PER CENT. GOLD /
BON and submit 20 Investors TIE
following among other obvious consiaerA-
tons; and invite the comparison with the meris
and eIcellencies Of any class Of Corporate ~
surities:
/. These Bonds are based upon the most vital
ald valuable part Of the Grand National Pacibc
Railroad, sOon % 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 tho road IL nov
built, and the remainder will DO rapidly carried
forward over the Salt Lake Plains.
". The greatest part Of tho means necessary
% build the road IL provided by the Z. =. Gov
ernment upon a subordinate lien.
V. The State and chief cities Of Californis
have contributed upward Of t3Oo00oo TO the
enterprise without lien.
VI. The grant Of land IL destined At an early
day 70 prove Of far greater market value than
the total Of the first mortgage bonds ihsusd
upon tho road and equIpmsnts
VII. This road lies altogether among tho gold
and silver producing regions. End IL revenues
are received in coin.
VIII. Tho management Of this company has
been in the highest degree prudent and frugal
and the whole surplus, after payment Of sIpsnss
and interest, IL devoted 70 construction purps-
Sea
TX. The interest liabilities Of the company
are even now less than q third the net earrings
upon the rad pledged
K. Both PriBaDal and TnlsrsSt ere pcyaBk "a
Gold, under special pr0VisiOns Of both Nations
and State enactment.
The bonds are in sums Of 5000 each. With
sem! annual gold coupons attached, and are Of.
fsrsd for sale a. % per cent. Of theiT par value
and accrued Interest from Jan. ], Add, in cur.
reney.
The back interest IL charged At sip cent
In currency, though repaid In full in ga A
this time they yield nearly
MIMI PER OEET. UPON TEE INVEST.
KEET
Thsss bonds bid fair % attain the most prom.
fpsut pOsitiOn among the BOnTPseulstive IN
ysstments Of the oOantTJ, and VII b SSuTey
dealt in az the msney IN Eur0ps
Holders Of Government securities have -
portunisy Of exchanging them Tor Csnti1 .,
eifc Bonds bearing an equal rzte o. lAS
v-ith D. principaI vel scared, and Of
REALIZING A PROFIT OF TES 10 PIP
Tryy PEE oK8L ~ ADDITION.