Litchfield enquirer., 1870-01-20

The old lines were originally constructed in sec tions, with the view of passing through the prln- cipal cities, rather than 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 along it's line, this road will find large estab- lished local trade awaiting it's completion. It will pass through the towns of North Haven, Walling- ford, Durham, Middlefed, Middletown, Portland, Chatham, Marlborough, Hebron, Columbia, Leba- non Colchester, and Windham. ta ..4..a.s..
 It seems hardly necessary to call attention to the Business of a road of such vast importance having connections with many roads that are to become feeders to 1t. At New Haven it will con- meet with four lines; at Middletawn with one, and at Willimantic with three, while others are being projected. p4E= .@ 'sses...-. .t
 In regard to through trade, 6 single glance at the map is moro convincing than any argument be to tho important fact that this route, be- ing the shortest, and affordinS so ,grsata 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 interested in it's success, and who design it to be tie most thorough, substantial and safest road in the United States. They have called'to their aid the highest engineering skill in the country to d 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 of 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 rails are be- ing laid 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 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 will be finished and in operation during the Fall or early winter. ts 1 E As AN INvEsTMENT.-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 tho 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 shal at tn option of the holder, become due immediately.
 The Mortgage is made to the Treasurer of the State of Connecticut and;his successors in office. il 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 wantof stability in the holder of their Mort gage. .....st
 A HOME INvEsTMsNT.-It is unnecessary to re- mind the public that Home Enterprise, carried in their own State, where all the facts in regard to it are fully known, is more worthy ot attention than schemes for railroad building or other pro- ects in remote parts of the country, which invite loans at enormous rates of interest. Tine Mana gers of this company are well known Connections mon, and the road itself Is a most important work of internal development, in which every citizen in the state must take a just pride.
 TAxEs.-The exemption of tho First Mortgage Bonds from all taxes which may be laid within the state is a feature which causes them to rank with the issues of the United States, while the addition al exemption from United States Income Tax pla- ces them above any other investment in the mar an,,1h ing profitable investments. It will be borne in mind that the State and Local Taxes ia Connects cut range from l3 to 2l, averaging about per cent. AS this tax Is saved to holders of the Air Line Bonds it is equivalent to the pay ent of that amount as extra interest. and makes with the sav- ing of the income tax, S93 50 on each $l,000 peI annum, or nearly g 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 affecting the in l come from these securities.
 | INCOME, AS COMPARED WITH OTHER INVESTMENTS | "A six per cent Gold Bond subject to taxation | ed as low as 80 to yield the same amount of nei income as these Bonds at par; while with gold al par the per cent gold bond would be worth oalJ l about 70, compared with these bonds at par l The Cenneeticut State bonds, which were made exempt from taxation by an act of the Legislature arc selling in the market atabeut 103 and atsthat price, yield an income of 5i,which would makethe Air Line Bonds worth 114a on the same basis. a, 1 at that price they pay tise same interest, namely i 54 per cent.
 The desire to capitalize tho premium which ma, now be realized on Five-Twenty Bonds, and yhicl l 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 0 I investment which shall be safe, and which shal 1 yield liberal rate of interest in currency.
 ] To meet this demand we offer the First Mort ] gage bonds of the New Haven, Middletown ant Willimantic Railroad Company, believing them {, be in all respects worthy of the confidence of in of investors and We do so after thorough exanli nation, as we are unwilling to offer any securit I which we do not consider as safe and desirable a i the issues of tho United States Governments. I The Bonds can be obtained of any Bank O
 Banker in the State of Connecticut. or by sendin, direct to ourselves, is hns Hs 5@d 5aaz H[3E
 All classes of securities will be received at thei full market Yalne, and may be forwarded by ex press, and the Bonds will be returned at our ez pense.
 HATCH & FOOT E. I Bankers and Dealers in Government Securities. I 12,WALL ST., NEW YORK.
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