The Portland daily press., 1870-04-22

National works of internal improvement whose in
trnsic merit and substantial character enttle them
TO the of Capital and the confidence Ct investors
we now offer with special contidenc, and satsfac-
ion the
FIRST MORTGAGE BONDS
Chesapeake aad Ohio Railroad Company.
The Chesapeake and Chic Railroad, connecting the
| Atlantic coast and the magnificent harbors of t G
Chesapeake Bay with the Ohio River at point of re-
liable navigation and thus, with the entire Railroad
and Southwest, forms the additional East
md West Trunk Line. so imperatively de-
manded for the accommodation of the immense and
rapidly-growing transportation between the Allan
tic sea-bcard and Europe on the one hand, and the
great Producing regions of the OHIO and Mississippi
Valleys on the other.
The impo rtance of this Rond as n new
outlet from the West to the sen magnfes it
into of national consequence and insures to it
extensive through traffic from the day OF its compile
tion WHILE in the development Of the extensive ag-
| ricultural and mineral resources OF Virginia and
WestVirginia 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 rem
der it the most important and. substantial
Railroad enterprise now i'm progress in
this Country.
Its superiority as an East and 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-virginia, insnres 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 constructed) to be compile
ted, to carry it to the proposed terminus 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
ersS---a -.-- r4snu, "
the Chesapeake and Ohio 18th 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 a present value, In completed
road and work done, cqual TO tlae entire
amount of the mortgage. ,.z.
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 it
$1,000, $500, and 800.
They will be issued as COUPON BONDS, payable tc
| 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
only the books of the Company, unless re-assgn-
Ell to bearer; or
The coupons may be detached and cancelled, the
Bond made permanent Registered Bond, transfer
able only the books of theCompany ,and the inter-
est made payable only to the registered owner or his
attorney.
| Three classes will DO known respectively as:
| LIST. "Coupon Bonds payable to
2nd. s'Rcgistered Bonds with Coupons
attached"
| Sd. "Rcgisteted Bonds with Coupons
detnched,'' and should be so designated by cor
respond 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 l, 1Sc9 Principal and Int, est payable in
GOLD in the City Of Nev 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 OF
our friends who already hold Central and Western
Pacific Bonds, with interest payable in January and
July, and who may DESIRE in making additional in
vestments to have their interest receivable at differ
ent seasons of the year.
The Loan is secured by a mortgage upon the en-
tire line of road from Richmond to the Ohio River,
with the equipment and all other property and APP
purtenances connected Herewith.
A Sinking Fund Of 500, 900 per annum is pro-
cid dior the redemption Of the Bonds, to take effect
one gear after the completion Of the road
The mortgage is for 900, of which 100000
will be reserved and held in trust for the redemp-
ton OF outstanding Bonds of the Virginia Central
Railroad Company now merged in the CHEsA-
PEAKE AND OHIO.
OF the remaining $4,000 600. sufficient amount
will be sold to complete the road to the Ohio river
perfect and improy the portion now in operation
and thoroughly equip the whole for large and ac'
| tive traffic.
The present price is 90 and accrued interest.
Loan SO amply securel, so carefully guarded
and so certain hereafter TO command prominen
place among the favorite securities in the markets
both of this country and Europe, win be at once ap
preciated and quickly absorbed.
Very respectfully. .