The Portland daily press., 1870-03-07

trinsic merit and substantial character sntitle them
TO the use of Capital and the confidence Of investors
we now offer with special confidence and satsfac.
ton the
FIRST MORTGAGE BONDS
OF THE
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 -l q. p ...rs. r.-
liable navigation, and thus, sao sniiIs aali5ad
system ind water transportati.s o. ,ls sr9sk 3 -s
and Southwest, forms tho ssaitssar Sea
ind West Trunk Line, so imperatively dc.
manded for the accommodation OF the immense and
rapidly-growing transportation between the Attain
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 lthis Road as a new
outlet from the West 10 the sea magniaes it
into of national consequence and insures to 1t an
extensive through traffic from the day OF its compile
ton; while, in the development OF the extensive ag-
ricutural and mineral resources of Virginia and
West-virginia, 1t possesses, along its line, the
elements of large and profitable local business.
Thus the great interests, both general and local,
which demand the completion OF the CHEsHPEAKK
AND ONO RAILROAD to the Ohio River, afford the
surest guarantee OF its success and value and rem
Railroad enterprise now in progress q.
this Country.
Its superiority 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-vrgnia, insnres am enersesic,
honorable, and succeasful mana sement.
The Road is completed and in operation from
Richmond to the celebrated White Sulphur Springs
of West Virginia, 227 miles, and there remain but
200 miles (now partially constructed) to be compile
ted to carry to the proposed terminus on the Ohio
river at or near, the mouth OF the Big Sandy river
$50 miles above Cincinnati, $50 miles below Pitts
| burg.
Lines are now projected In progress through
Ohio and Kentucky to this point, which will connect
the Chesapeake and Ohio with the entire
Railroad sysfems 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 tho country; and
there exists present value, In completed
read and work done, equal to ,he 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. 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 on the books of the Company, unless
ed to bearer; or ~.
The coupons may be detached and cancelled, the
Bond made permanent Registered Bond, transfer
able only on the books oftheCompany and the inter-
est made payable only to the registered owner or his
attorney.
Three classes will be known respectively as:
1st. "Coupsn Bonds payable t.
| Bearer.v
End. "Resis,ered Rsnds with Coupons
| attached.o
| '"' Hesisfessd Bonds with Coupons
deiachcd,'' 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 !, 1863, Principal and Inta est payable In
GOLD in the City Of Nep Yors.
it may take the place of that Of the earlier Is
sues Of Five -Twenties, and suit the convenience o.
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 d-
ent 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.
4 Sinking Fund Of 100000 per annum 10 pro.
via dior the redemption Of the Bonds, to take eject
one year atter the completion Of the road.
The mortgage is for SIS 900 900, ofwhch 50 OoO 900
will be reserved and held in trust tor the redemp-
ton OF outstanding Bonds Of the Virginia Central
Railroad Company, now merged in the CHrsA-
PEAKE AND ONO.
OF the remaining $4,000, 900. 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.
A Loan so amply secured, so carefully guarded
and so certain hereafter to command q prominent
place among the favorite securities in the markets.
both OF this country and Europe, win be at once APP
preciated and quickly absorbed.
Very respectfully,
"TOTy d. ~ T/fH