Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1864-07-06
GOLD HILL BONDS.


By special Act of the Legislature, the
authorities of the town of Gold Hill are
authorized to effect loan of $4,000, for
the purpose of placing the town in a suit
able condition for its protection against
FIRE, etc. In pursuance of said law, the
Town Trustees some time ago had town
bonds prepared, and we believe negotiated
in San Francisco for about one-third their
amount in the purchase of quantity OF
iron water-pipeS, which are now all de-
livered, and are ready to be laid in their
proper places. \ splendid large reservoir
at the head of the town IS also now in
course Of construction, and will be ready
10 receive water in about month. Ev-
erything is in readiness to let the contract
for the laying of the pipe, except the i'm
portant one that the corporation needs
money to carry on the cork. There are yet
remaining of the bonds about two-thirds
of the amount to be negotiated. These
securities, we believe, are as good as any
that can be obtained on the Pacific coast,
and We doubt not if ii cash could be
spared out of the usual business of our
monied men, every dollar would have
been negotiated long ago. We will just
state, for the information of the public,
what they are, and quote direct from the
law:
"The Board OF Trustees shall have power
to issue and sell bonds in the aggregate not
10 exceed the sum Of thirty thousand dollars,
drawing interest not TO exceed two per cent.
per month, for the purpose Of defraying eX-
penses IN protecting the town of Gold Hill
from fire, and they shall have power to pledge
the credit Of the said town in said bonds, and
the said special tax OF one fourth of one per
centum shall be appropriated in the payment
Of said bonds and interest, and when all OF
such bonds and interest are paid and can
eeled, the said special tax shall be no longer
levied and collected"
Twenty thousand dollars Of these bonds,
with coupons attached are ready to be
negotiated. They are payable, according
to their face, principal and interest, in L.
S. gold coin-the interest being two per
cent. per month, and made payable every
three months-and for the payment OF
said principal and interest as above pro-
vided, the faith and credit of the Town OF
Gold Hill is pledged by authority of the
law above quoted. As we have before
remarked, men of money here have not
the cash to spare out of their other bust
ness operations to negotiate this loan, and
we understand that our Town Trustees
yesterday adopted measures to send Mo-
ses korn, Esq, the Town Treasurer, to
San Francisco, to effect loan upon these
securities. We hope he will be success
ful. and believe he will, as it is an oppor-
tunity which does not often present itself
to capitalists. The last assessment of the
taxable property within the corporate
limits of Gold Hill amounted to upwards
of two and half millions of dollars. Our
Town is improving many hundreds Of
thousands of dollars have also been
added to our own wealth, and although
there has been decline in the value Of
mining stocks, which have been but a
limited item in the true wealth of our dis.
triet, the substantial and real interests
upon which wealth is founded, have &C.
cumulated, and their value rather enhanced
than decreased. Our mines which are de-
veloped have shown that they are second
to none in the Territory, and very many
others which are in process of development
give palpable evidence that they also will
be equal to those already opened. AL
our mines and other real and personal
property in this district, with the faith
and honor of noble-hearted community
are pledged to the payment of these Town
Bonds. Shrewd and wide-awake capital
lists in San Francisco will. doubtless, take
in at a glance these advantages, and readily
accept the proposition to negotiate. Fol-
our own part. we are free to confess that
If we had the funds we would very readily
take every dollar of these Town Bonds.