The Portland daily press., 1870-03-17

pou INC
FIRST MORTGAGE BONDS
Chesapeake and Ohio Railroad Company.
The Chesapeake and Ohio Railroad, connecting the
Atlantic coast and the magnificent harbors OF the
Chesapeake Bay with the Ohio River at point of
liable navigation, and thus, with the entire Railroad
system ind water transportation of the great West
and Southwest, forms the additional East
nnd 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 Importance Of this Road as a new
outlet from the West TO the sea magnifes it
into of national consequence and insures to it an
extensive through traffic from the day OF its compile
ton; he in the development of the extensive ag-
ricultural and mineral resources of Virginia and
West-vrgina, 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 in progress in
this Country.
It's superiority as an East and West route. and the
promise of an immense and profitable trade await
ing its completion, have drawn tc 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 mana cement.
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 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 with 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 n present value, I'm completed
road and work done, equal 10 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
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 to
Bearer. andmay 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, the
Bond made permanent Registered Bond, transfer
able only the books of theCompany land the inter-
est made payable only to the registered owner or his
attorney.
Three classes will be known respectively as:
1st. "Coupon Bonds payable to
Bearer"
end. s.Regisiered Bonds with Coupons
attached.o
Sd. HRegisteted Bonds with Commons
dctached,'' 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 l. 1869, Principal and Int, est payable in
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 -Twentes, 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
emit seasons of the year.
The Loan is secured by mortgage upon the en-
tire line of road from Richmond to the Ohio River,
with the equipment and all other property and ap-
purtenances connected Herewith
A Sinking Fund Of 100000 per annum is pro-
vid dior the redemption Of the Bonds to take effect
one gear after the completion of the road.
The mortgage is for $15 900, Of which 50
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, 900. a sufficient amount
will be sold to complete the road to the Ohio river
perfect and improve 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 secured, so carefully guarded
and so certain hereafter to command prominent
place among the favorite securities in the markets
both OF this country and Europe, will be at once ap-
preciated and quickly absorbed
Very respectfully,
FISK &c HATCH,