The Portland daily press., 1870-04-16
FIRST MORTGAGE BONDS
OF THE
Ohesape1ks and Ohio Railroad Company


Ohesapeaks and Ohio Railroad Company
The Chesapeake and Ohio Railroad, connecting the
Atlantic coast and the magnificent harbors OF t {
Chesapeake Bay with the Ohio River at point OF re-
liable navigation and thus with the entire Railroad
system nd water transportation of the great West
and Southwest, forms ihe additional Eas,
and West Trunk Line, SO imperatively de-
manded for the accommodation of the immense and
rapidly-grOwing transportation between the Allan
tic sea-bcard aud Europe on the one hand, and the
great pi oducng regions OF the Ono and Mississippi
Valleys on the other.
The Importance Of this Road as a new
outlet from the West to the sen magnifes it
into one of national consequence ard nsures to it an
extensive through traffic from the day OF its compile
tom while, in the development OF the extensive ag-
ricultural and mineral resources of Virginia and
Wes-virgna, it possesses, along its own line, the
elements of large and profitable local business.
Thus the great interests, both general and local
which demand the completion of the CHESAPEAKE
AND ONO RAILROAD to the Ohio River, afford the
surest guarantee OF its success and value, and
der il the most important and substantial
Railroad enterprise now in progress in
this Country.
Its superiority as an East ami West route and the
promise of an immense and profitable trade await
ing its completion, have drawn TO it the attention
and cooperation of prominent Capitalists and Rail-
road men of this City OF sound Judgment and known
integrity, whose connection with it, together with
that of eminent citizens and business men of vir-
ginia and West-vrginia, insxres an energetic,
honorable, and successful management.
The Road is completed and in operation from
Richmond to the celebrated White Sulphur Springs
OF West-virsinia, 227 miles, and there remain but
200 miles now partially consructed) to be compile
ted to carry to the proposed terminus on the Ohio
river at, near the mouth OF the Big Sandy river,
$50 miles above Cincinnati, $50 miles below Pitts
burg.
Lines are now projected or in progress through
Ohio and Kentucky to this point, which will connect
the Chesapeake and Ohio " ih the entire
Railroad systems Of the West and South
west. and with the Pacific Railroad.
Its valuable franchises and superior advantages
will place the CHESAPEAKE AND OHIO RAILROAD
COMPANY among the richest and most powerful and
trustworthy corporations of the country; and
there exists present value, In completed
road and work done, equal to the entire
amount Of the mortgage.
The details OF the Loan have been arranged with
special reference to the wants of all classes OF invest
ors and combine the various features Of convenience
safety and protection against loss or fraud
The Bonds are in denominations OF
$1,000, $500, and 800.
They will be issued as COUPON BONDS, payable t.
Bearer. and may be held in that form; or
The Bond may be registered in the name Of the
owner, with the coupons remaining payable to bear
er attached, the principal being then transferable
only the books of the Company, unless re-assign
ed to bearer; or
| The coupons may be detached and cancelled, tn
Bond made permanent Registered Bond transfer
able only on the books of theCompany and the inter
est made payable only the registered owner or hi
| attorney.
Three classes will be known respectively as:
lat. "Csupon Bonds payable I.
Bearer,
3nd. Registered Bends with Coupon,
attacked"
Sd. elsesistcted Bonds with Coupon
| deinchcd," and should be so designated by cor
respondents in specifying the class of Bonds desired
They have thirty years to run from January Is
1870, with interest at six per cent per annum from
November I, 1869, Principal and Int, est payable i,
GOLD in the City Of New York.
The interest is payable in MAY and NOVEMBER
that it may take the place of that OF the earlier is
sues Of Five -Twenties, and suit the convenience
our friends who already hold Central and Wester
Pacific Bonds, with interest payable in January an
vestments, to have their interest receivable at differ
ent seasons of the year.
The Loan is secured by mortgage upon the er
tire line of road from Richmond to the Ohio Rive
with the equipment and all other property and al
purtenances connected Herewith.
Il Sinking Fund Of 500, 900 per annum is pr
vid dior the redemption Of the Bonds, to take e6e
one gear after the completion Of the road.
The mortgage is for SIS 900, OOo of which 50 10000
will be reserved and held in trust for the REDEEM
ton OF outstanding Bonds of the Virginia Centr
Railroad Company, now merged in the CuEsl
PEAKE AND OHIO.
OF the remaining $4,000 900. sufficient amou
will be sold to complete the road to the Ohio riv
perfect and improv, the portion now in operatio
and thoroughly equip the whole for large and a
tive traffic.
The present price is 90 and accrued interest.
A Loan SO amply secured, so carefully gu lrde
and so certain hereafter to command promine
place among the favorite securities in the marke
both of this country and Europe, will he at once
preciated and quickly absorbed
Very respectfully.