The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-03-23

II ia commonly known that the General Gov;
eminent, for wise purposes, has given It's Aa
and encouragement TO the construction OF one
aIIS THROUGH LINE OF RAILROAD from the "a
life Ocean across the Territories 10 connect
with the various Eastern Branshes o. the "a
,ific Railroad system and which will form the
GRAND TRUNK ROUTE 10 the Far West,
upon which the mighty trans'continental trainc
will concentrate.
The CENTRAL PACIFIC RAILROAD
are carrying it forward with
greater energy and persistence than was ever
shown in any similar work in ancient OF modern
buiin, equip, own and controI the
Western Half Of this Through Line. the most
productive, favored, and valuable PORTION oil the
whole, and may Justly be regarded sPossessing
the richest franchise ever granted IN TINS cohV-
mont.
The Act of Congress confers upon the Corpo-
rations besides the right of way across the Ter
ritOries gift of - 800 acreso OF the pubic lands
per mile, contiguous to this line, and an appro-
priation from the National credit OF SIXTY MIL
LIONS in 6 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
~
ings; they, therefore, constitute an element OF
great strength 70 the corporations.
The act further authorizes them TO issue an
euuaI amount of their own First Mortgage
Bonds Of corresponding denominations, lohtch
shall be the first claim upon The t0hoIe railroad prop
srtv and 10 1Uhich the lien Of the Government shdN
be subordinate IA a means of more readily secur-
ing the remaining half of the capital for the con,
stTuction the equipments, &c, being provided
ont of the capital stock subscriptions ana other
sources.
The great CENTRAL ACIFIc RAILROAD is there
fore in an important sense, a SEAI-NAIIONAL
WORK. aided and commended by the people, the
I Legislative power, and the Executive officers,
though its management is administered aolh az
he care and J0rethOtght Of the most eminent pirate
corDoratiOnS Being under the constant super
vigion of the GOvernment-whO, being the prln-
cipal creditor, accepts subordinate and contin
gent lien-with so large an amount OF addition
nj capital also invested in the property pledged
il is believed that no securities now offered III
the market possess the sane claims to comb
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 c0nverging 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, the probabilities of the through connection
with the 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
large and profitable Local Business which Is de-
veloped upon the completed portion, more than
iustifying the estimates of its projectors-that
the immense traffic between the ports Of Cali
fornia and the mining regions OF the inter or
would sustain first-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
mOuntaR 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 theirFIkST MORTGAGE
THIRTY.YEAR SIX PER CENT. GOLD
BONDS, and submit TO Investors the
following, among other obvious consiaera-
tions; and invite the comparison with the merits
and excellencies of any class OF Corporate Sc
surities:
/ 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.
III. 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 DO rapidly carrie
forward ever the Salt Lake Plains.
". The greatest part Of the means necessary
to build the road is provided by the U. :. Gov.
ernmcnt upon subordinate lien.
V. The State and chief cities Of California
have contributed upward of 900 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 tho road and equipments.
VII This road lies altogether among the gold
and silver.producing regions, and its revenues
are received in coin.
VIII. The management Of this company has
been in the highest degree prudent and trugar
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 . third the net earnings
upon the road pledged.
x. Both Principal and Intsrest ara payable N
Gold, under special provisions Of both National
and State enactment.
The bonds are in sums OF 1900 each, with
semi.anuual gold coupons attached, and are o.
fered for sale at 95 per cent. of their par value
and accrued interest from Jan. |, added, in cur.
rency.
The back interest is charged a. six, cent
in currency, though repaid in fall in gid.
this time they yield nearly
NINE PER GENT. UPON The INVEST
NEST.
These bonds bid fair to attain the most prom.
inent position among the nOn-sPeculstive in
vestments Of the country, and will be actively
dealt in at the msney-centres in Europe.
Holders OF Government securities have an OPP
portunity Of exchanging them for Central Pa
cific Bonds bearing an equal rate Of interest
with the principal well secured, and Of
REALIZING A PROFIT or TEN 70 FIJI