The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-04-29
Central Pacific Railroad First
Mortgage Bonds.

Central Pacific Railroad Firs1
Mortgage Bonds.
It is commonly known that the General Gov
eminent, for wise purposes, has given its al,
and encouragement to the construction of ont
MAIN THROUGH LINE OF RAILROAD from the Pa
cihc Ocean across the Territories 70 oonnec
with the various Eastern Branshes Of the Pa
cihc Railroad system, and which will form tn,
GRAND TRUNK ROUTE to the Far West
upon which the mighty trans-continental traffi,
viii concentrate.
The CENTRAL PACIFIC RAILROAD
are carrying it forward Will
greater energy and persistence than was eve
shown in any siVNilar work in ancient or modern
bniln, equip, ewn and control tn,
Western half of this Through Line, the mos
productive, favored, and valuable portion Of the
whole, and may Justly be regarded SpOssessine
the richest franchise ever granted IN this CONT
nent.
The Act Of Congress confers upon the Corpo
LdllUuSt DCblutb luc IlEuL VI way ACTOtB Inc Ter
ritOres, gift Of - 500 acres Of the public landl
per mile, contiguous to this line, and an appro
priation from the National credit of SIXTY NIL,
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 q course
Of years by the Transportation services of the
Roads, and q small per csntage Of their net earn
ngs; they therefore, constitute an element OF
great strength 10 the corporations.
The Act further authorizes them 70 issue Al
equal amount of their own First Mortgage
Bonds of corresponding denominations, IohieI
hal be the first claim upon the I0hOLe railroad prop
,Tty and 10 tDhich the lien Of The Government shat
be subordinate, as q 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 PACIPIe RAILROAD is there
fore, in an important sense, a SEhn-NATIoNAI
WORK, aided and commended by the people, the
Legislative power, and the Executive officers
though its management Is administered 10Th al
NE care and orethOught q the most eminent private
Being under the constant super
vision of the GOvernment-who, being the prin'
cipal creditor, accepts a subordinate and contin.
gent lien-with so large an amount of addition.
Il Is believed that no securities now offered in
The market possess the sane claims TO conf.
ience 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 c0nvergiug Branches be
.Ween the Missouri River and the base of the
Nv hgan vii IN fb
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
ine the probabilities Of the through connection
With tho Eastern lines being effected in 1870
AMOUNT almost TO certainty.
The prominent feature in the progress Of the
CENTRAL PA IFIC RAILROAD is the remarkably
arse and profitable Local Business which is de
VelOped upon the completed portion, more than
ustifying the estimates of its PROFESSIONALISM
The immense traffic between the ports of Cali
fernia and the mining regions of the inter OF
would sustain q trst-class railroad line, even II
The overland connections were not built. The
net profit upon operating the link of less than
)ne hundred miles, thus far, reaches nearly two
millions in gold; and this ratio will be doubled
Turing the coming season, when tho entire
transit Is made by the locomotive.
With every extension of the track, the business
md profits of the completed part are increased;
70 that when the overland through traffic shall
DO centered upon the CENTRAL ROAD. the gen.
,ral prosperity Of the company will be without
parallel and its securities appreciated CORES
,ondingly. The CENTRAL PACIFIC RAILROAD
COMPANY offer for sale theirFIKST MORTGAGE
Thirty YEAR SIX PER CENT. GOLD
BONDS and submit TO Investors tire
among other obvious cOnsidera-
ions; and invite the comparison with the merits
nd excellencies Of any class Of Corporate Sc
urities:
I. These Bonds are based upon the most vital
md 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
rom is remarkably large and profitable, and
must constantly increase.
III. The hardest part Of the road il now
,uilt and the remainder will be rapidly carrie
onward ever the Salt Lake Plains.
o build the road is provided by the o. s. Gov.
rnmeIt upon a subordinate lien.
V. The State and chief cities OF California
ave contributed upward Of 10000 90 10 the
without lien.
VI. The grant Of land is destined at an early
lay 20 prove Of far greater market value than
he total Of the first mortgage bonds issued
lpOn tho road and equipments.
VII. This road lies altogether among the gold
md producing regions and its revenues
~ received IN coin.
VIII. The management Of this company has
,oen in the highest degree prudent and frugal
md the whole Surplus after payment of expense
md interest, is devoted to Construction purpe-
rs.
TX. The interest liabilities Of the eompapV
re even nov less than . third the net earring
lpOn the road pledged
K. Both Principal and Ins,Tsst are payaH> IN
ioId, under special provisions Of both National
nd State enactment
The bonds are In sums Of 1900 each. With
en- annual gold coupons attached ard A.. ~
cred for sale ~ IS per cent. Of their par v.l,s
nd accrued interest from Jan. /. Sdaed In car,
ency.
The back interest ia charged At a1, ran,
2 currency though repaid In fen In IA
his time they yield nearly
TzEk PEI OBFT. UPON THE IyvESr
AREF.
These bonds bid fair 70 attain TIE -.
leut Po.uon among the nOn-snac1Istiype -
es9toents o. The country and VII BE- sstjvsiv
~ ~, y A. ne nsney-oeDtrss IN Europe
nOlosrs OF Goverument sscur4tis. ~ -. -.
% osrsqhity Of exchanging tRsm Tor Co. y,
..S bShos bearing an equal rate N i1tSrs.t
nm the principal vel secured, and Of
'SALIzLE6 4 PROFIT OP Igy 10 PIP
TEEN PER CEyT ~ aaDTYTOE