The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1855-04-25
81. .O0O. 900 RoNps oE TIE YIRG1sI. a

hho-o&"Om ABEL U. mAYO.
S1,000000 BONDS OF THE VIRGINIA AND
TENNESSEE RAILROAD CosPANY.-Proposals will he
received for the whole or part of the above is-
of Bonds. They dated Ist July, 1854 ana
payable to bearer in the city of New Yors, the
90th June 1884 with interest Coupons attached, at
this rate of cent per annum; paYsble sem-snnu.
ally at the Bank OF America, the lat of Jauusry
and July of each year. and haftheir amount con-
vertble into the stock of the company at the option
These bonds are issue under full authority of the
stockholders for the purpose Of finishing and eqBip.
ping the road and they secur ed by second
the road with all the real estate fixtures and
equipments, franchises, sppurt enances snd privt
leges sppertainng thereto. The first and prior mort
gage isl 81 500 000 of which 81 O. coo gss taken
by the State OF Virginia on the following very advsn-
tsgeous terms:-6 per cent interest, and the prine
cipal to be hquidsted by payments annually of one
per mt for yesrs commencing the lst of July
1858. The remaining $500, OO0 were sold at par.
The capital of the company is So 100000, three
fl frhs of which is held by the State of Virginia. and
the whole amount paid is 81 975 100
The length of the road from the city of ynehbur4
to the Tennessee line is 204 mites, of which 1S5
entirely finished and In operation. The remaining
SO miles require only s235 900 plete them and
ten months labor is only necessary to put the entire
| road into full operation. There b been expended
on the road about ST. 90 900 in construction, rolling
| stock and expenses. sum double the amount of
| both mortgages, which together do not exceed
| $4,000 per mile of road The road forms link in
the chain of reads which are TO become probably the
most important route 10 the Union, giving almost
straight line from the Northern and Eastern cities.
| to those the Gulf of Mexico and the Mississippi
| shortening the distance than 200 miles, and
there ia but one more link to be finished to sfIord
continuous railroad TRANSFORMATION from the cty of
Washington TO Mont tgomery, Alabama. But, ipde.
pendent Of tha travel that will come TO it as part
of the great South and North line, the Virginia and
Tennessee Railroad has certain local business Of its
own which is clearly sscertsined by the earnings of
last year, only S5 miles open (S16S 929 79l being
sufficient of itself TO support the road liz passes al
| most it's whole length through region sbaunding
with variety of minerals Of the most valuable ma
ture such as lead, coal iron, copper salt and gyp-
| So H. all of which exist In great abundance, which
have been hitherto neg ected but which fast be-
| ing developed, now that they can be conveyed 10
market short, the prospects of the road 70
haterng and fostered as 1t has been by thu State,
and supported generally by the people of lrginia,
with large cash capital actually paid in. is be-
lieved no security has recently been offered 4 bet
| ter character. The company have agreef to set
apart one per cent annually on the amount their
bonds from the earnings of the road, as sinking
Fund to meet the pay ment OF them at matu tyj snd
the stockholders have adopted, line of 4ey. to
| declare no dividend excepting from cash iurplus,
after the interest and Sinking Fund have en- pro-
| vided for. /.
| The terms on which the sale will be msd are Is
per cent. down, and the balance IN payne to OF "
per cent every thirty days till all paid 18th whole
amount 10 paid at once Interest TO LIST July be al
lowed The rs hit of rejecting all or any pa of this
bids is reserved If deemed for the interest OF the
company to do so. The bonds will be lodged in bari
TO be delivered when thei whole amount "a paid :
Full i9foImatSn ion w be F.sa on sli sueis IS cen
which could be desired by parties wishing TO ode
for the bonds and documents and referel ees on
s. Wan New Yors to whom mSs s .s ss
sent, sealed and marked Tender for Railroad Bonds
on or before the 24th day of May next
JOHN ROBIN MeOANl cL
President Vireinia and Tennessee Ralros d Co,
The Board of Directors are
HENRY DAVIS, .rT
GEORGE STUART
WILLIAM READ,
THOMAS l.. PRESTON
WIN. r. ANDERSON, and
c, + M, GARNETT,i ia Chief Engineer,
will receive sealed proposals. for the above Ia 4
which will remain with me unopened till 8 o'elo
p. NJ. of Thursday, the Gath day Of May next, 10
, then opened In the presence of the Presidspt
some other authorized agent OF the Compsny
ADRIAN II. MULLER, So Wall st
Nsv York, April Is, 1885. up is--eoai.nk al,