The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1864-11-23
Rail Road Matters.

Me- The following is from Mr.. Z. F.
Sutthervaite's weekly circular, dated o.
tober 18th, 1864:
ATLANTIC 4 GREAT WESTERN RAIL
wAY-The success of this undertaking
during the past few months has been so
decided and progressive that the direo-
tors now feel the time has arrived when
they are justified in seeking subscriptions
for the unissued portion of the Second
Mortgage Bonds, secured on the Ohio di-
vision. AS will be seen by reference to
the advertisements in the daily newspa
pers, this additional amount of capital is
rendered necessary, not only by the pres
ent large amount of traffic which passes
over the line, but to meet the wants of
the enormous increase which accrue as
soon as the entire scheme is in operation.
which will most probably be the case
next month. It will be observed that
the directors have steadily adhered to the
policy which they proposed when the un-
dertating was first commenced, not to
invite subscriptions from the general pub
lie public until the earnings Of the road
were sufficient to assure the puntual pay
ment of interest. All the prognostica-
tions of these interested in the road have
been so fully borne out or rather SO far
exceeded by actual results, and the pres
ent calculations of the future earnings of
the line are on SO moderate a scale, that
we think there should be no difficulty in
raising the sum now asked for, in order
that the requisite amount of rolling stock
and general equipment may be forthwith
supplied. The security we consider most
ample, and certainly 81 per cent. per an.
mum is good return on any safe invest
ments. So
To suoh of our friends as haVo been
holders of six per cent. bonds of the
Great Western or Canada Railway, and
are contemplating receiving payment Of
the principal instead of renewing their
bonds, we would sugges. these bonds as a
most eligible re-investment.
nM- An issue has been advertised of
100000 second mortgage bonds of the
Ohio division of the Atlantic and Great
Western Railway representing in sterling
the sum of e594, 900, the terms being
ssoh as to pay IL. n.London IN specie nine
and half per cent. interest per annum.
The nature Of the security is already well
known here, the previous issues of the
bonds on this and other sections Of the
line having been taken in Europe to a
considerable amount. The route COM
mands the great bulk of the Western
traffic from New York, and also the prin-
cipal part of that to the Pennsylvania oil
regions and the latter fact, coupled with
the circumstance that during the past ten
years there has been no over-creation of
competing railways in the United States,
has given it success more than equal to
the expectations held out at its COM
mencement.
The present seems q most inopportune
time to invite subscriptions, but, as there
is always certain class here and on the
Continent ready to enter into American
investments, it is undesirable that these
persons should have an opportunity of Sc
lecting the bonds of such an undertaking
in preference to the stocks which depend
not only on the value of the paper cur
rency. but also on the future disposition
of the American people to bear weight
of taxation such as has never yet been
inflicted on any country. That issue, it
is said, is not likely to affect the money
market, since the greater part of the sum
has already been advan ced, and the pro-
ceeds of the bonds will be applied to its
e-imbursements.-London Times.