Litchfield enquirer., 1870-02-24

The old lines were originally constructed in sec tions, with the view of passing through the prin- cipal cities, rather than to form direct route be- tween New York and Boston, and hence the cir cuitous route adopted by them.
 BUSINESS.-For more than quarter of cent ury road through this section of the State has been needed, and unlike most new railroad enter prises which have to wait the growth of business lshed local trade awaiting its completion. It will pass through the towns of North Haven, Walling- ford, Durham, Middledsld, Middletown, Portland, Chatham, Marlborough, Hebron, Columbia, Leba'
 It seems hardly necessary to call attention to the Business of road, of such vast importance, having connections with so many roads that are to become feeders to it. At New Haven 1t will con. at Willimantic with three, while others are being projected.
 In regard to through trade, single glance at the map is more convincing than any argument can be as to the important fact that this route, be- Ing the shortest, and affording so great saving in time, must ultimately be the chief thorough. fare between Boston and New York.
 CHARACTER AND PROGRESS OF THE WORK. The Road is built under the immediate supervision of the officers of the Company who are most deeply interested In it's success, and who design it to be the most thorough, substantial, and safest road in the United States. They have called to their aid rect the work, and no pains or expense will be spared to bring it to perfection. The grades are very easy, the curves are large, the bridges of wrought iron, the rails selected with care and ot the best quality, and all adapted to durability and speed. The grading is nearly finished between New Haven and Middletown, the bridges complet- ed and being placed in position; the rals are be- ing lad at the rate of half mile per day, which will enable the company to use this portion of their line for business early in the spring. The eastern section is being rapidly graded and all the force that can be employed to advantage is at work. It is confidently hoped that the whole line l,oR Rrniah nd {n Hnri <ha Fal or early winter.
 AS AN INvEsTMENr.-The Bonds are Coupon and Registered, and are issued in denominations of $500 and $1 900. They have 20 years to run, and are payable, principal and interest, in New York. By an act of the Legislature of the State of Con- necticut they are made exempt from all State and Local Taxation, and by the Company from the United States Income Tax. The utmost care is used to protect the holders of these Bonds by the terms of the Mortgage, which provides that if the Company, at any time, defaults in the payment of interest for six months, the Principal shall, at the option of the holder, become due immediately.
 The Mortgage is made to the Treasurer of the State of Connecticut andshis successors in office, in trust for the Bondholders, which is guarantee of the good faith of the Company, and pledge that the investors interests will aever suffer from any want of stability in the holder of their Mort. gage.
 mind the public that Home Enterprise, carried on in their State, where all the facts in regard
 
 than schemes for railroad building or other pro. iects in remote parts of the country, which invite loans at enormous rates of interest. The Mana gers of this company are well known Connecticut of internal development, in which every citizen in the state must take . just pride.
 TAxRs.-The exemption of the First Mortgage Bonds from all taxes which may be laid within the the ssues of tho United States, while the addition al exemption from United States Income Tax pla- ces them above any other investment in the mar ket. and must commend them to all persons seek mind that the State and Local Taxes in Oonnecti- cut range from II to 2A, averaging about per cent. As this tax is saved to holders of the Air Line Bonds 1t is equivalent to the payment of that amount as extra interest, and makes with the sav- i,, of the income tax, $93 50 on each $1 ,000 per annum. or nearly 9A per cent interest on the in- vestment, This large return does not depend on the premium on Gold, which is liable to decline. and may even fall to par without ahectlng the in- come from these securities.
 INcoME, AS COMPARED WITH OTHER INvEsTMENTs. A six per cent Gold Bond, subject to taxation with the premium on gold at 12O. must be obtain income as these Bonds at par; while with gold at nar fhe 6 per cent gold bond would be worth only about 70, compared with these bonds at par.
 The Connecticut State bonds, which were made are selling in the market at about 10S and at that nrice. yield an income of 62 which would make the Air Line Bonds worth 1142, on the same basis, as at that price they pay the same interest, namely 5l per cent.
 , The desire to capitalize the premium which may now be realized on Fiye-Twenty Bonds, and which may at any time be extinguished by being funded at reduced rate of interest, and the maternal de- cline in gold, is awakening an inquiry for forms of investment which shall De safe, and which shall yield q liberal rate of interest in currency.
 To meet this demand we offer the First Mort. gage bonds of the New Haven. Middletown and Willimantic Railroad Company, believing them to be in all respects worthy of the confidence of in of investors, and wS do 60 after thorough exami- nation. as we are unwilling to ofler any security which we do not consider as safe and desirable as the issues of the United States Government.
 The Bonds can be obtained of any Bank or Banker in the State of ConnectiCut. or by sending direct to ourselves.
 A classes of securities will be- received at their full market value, and may be forwarded by ex- press, and the Bonds will be returned at our ex-
 HATCH & FOOTE,
 Bankers and Dealers in Government Securities.