New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-10-27
BANKING AND FINANCIAL.

IIS bbNEN PER GEM OOiD lNibiI@oi H'iOi "''''~
GAGE BONDS.
This Company is now building railroad through
the richest and most thicky settled portion of the
State, making direct connection between ST. Louis
and ST. Paul, LAT miles shorter than any other route
The Directors Of the Company are:
w. A. WHEELoCK, President Central National
Bank New-YOrk.
j. j. DONALDSON, President Bank Of North Amer-
ca, New-YOrk.
w. b. SHATTUCK New-York,
JOHN s. GILMAN President Second National Bank,
Baltimore.
THOMAS KENsETT Baltimore.
HORACE ABBOTT, President Abbott Iron Works.
Baltimore.
FW II. SHEFFIELD President Merchants Nation
al Bank, Dubuque. Iowa.
GIN WOODBURY., President First National Bank,
Marshautown, Iowa.
Hon. j. d. GRINNEII, President First National
Bank, Grnnell, Iowa.
Hon. w. H. SEWERS. Oskaloosa, Iowa.
CHARLES c. GILMAN. Eldora, Iowa.
party Of these gentlemen not then connected
with the enterprise, visited Iowa last Summer to
thoroughly investigates affairs and their return
reported
First: That the country along the line was adj
mitted to be the garden even of that magnifeent
State.
cultural portion of the State and that while its pro-
duction was already sufficient TO support railIoad
it would be doubled and trebed by the construction
of such line.
Third: That this railroad would have great adj
vantage most others in carrying coal from where
it is abundant in the southern part of the State TO
northern Iowa and Minnesota where none is 10 be
found and in securing return freightS of lumber, for
which the demand is very great.
Fourth That it was the only link wanting to con-
meet ST. Louis and ST. Paul. in almost direct line la
miles shorter than by any other route.
FIN That on the portiopopen for business the net
earnings, over operating expenses were then more
than the interest liabilities that length of road
that As miles would be completed this Fall that
about co miles more graded, and that the peor
pie along the line had subscribed literally to tho
COmpany's stock.
Sirth: That as the road has low grades aud runs
through the great coal fields its fuel costs little, and
its operating expenses are light
Serenm: That Iowa would probably be the richest
of all the Western States in agricultural productions.
and that most of these products, unlike those of the
Eastern States. must be carried away TO a market.
making large freights for railroads.
Eiokh That so far as they could learn after dill
gent inquiries there not single completed rail
road in Iowa. Illinois Wisconsin, or Minnesota that
was not only earning the interest on its securities,
but good dividend on its stock.
Ninth That there was no new rarOad'1ne in the
West that promised so large business on so safe
security.
Tenth: That bankers and other leading men of tho
State we're identified with the enterprise.
Elerenh That nearly million and half Of dol
lars had already been expended on the work.
The First Mortgage Boqdsar issued only Gtherdts
Of $4,000 per mile; they have thirty years to run, and
(rA.sr an
GOVERNMENT TAX interest payable in New-York on
the 18th Of January and July. Over 100000 have
already been taken. The Bonds are secured 10y
Deed of Trust to the FARMERS LOAN AND Trust
COMPANY, and by its provisions the money can be
used only for the completion of the work that they
will always represent real property.
While the First Mortgages upon most railroads are
admitted to be the very highest class Of securities
those of the Central Of Iowa have some special ad.
vantages over other new or projected lines.
The 40 miles just completed connect two
other important roads, and the next 20 miles give
another valuable connection.
The amount to the mile is not more than one half
that of many other roads o..
For the same length Of line no other railroad
in Iowa has large an adjacent population or pro-
ducti0n
The road is not built through o wilderness, but
through region of country already well settled,
which gives to every mile immediate and profitable
traffic.
The Bonds now offered are upon finished portion
of the road whose earnings are now greater thaR
the interest Liabilities upon it. ....
They are therefore recommended with entire con-
fdence in their safety as well as profit. They pay
nearly TEN PER CENT on their cost Holders OF Gov
onments can exchange them at their full market
value without commissions. The price for the pres
ent is o. and accrued interest The right is reserved
To advance it without notice. Pamphlets with map
and full information may be obtained aud subscrip-
tons will be received in New York at tue COmpanys
Office 81 Plne-st, by the Bank of North America, "A
Wall-st., by Howes & Macy, Bankers, 80 Waist.
Pamphlets sent by mail on receipt of application.
rla w. B. SHATTUCK. Treasurer.