Litchfield enquirer., 1870-01-27

. The old lines were originally constructed in sec- t!ons, With the view of passing through the prin- cpal cities rather than to form direct route be- cuitous route adopted by them.
 BUSlNkSS.-For more than quarter of A 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-' ished local trade awaiting it's completion. It will pass through the towns of North Haven, Walling- Chatham. Marlborough, Hebron, Columbia, Leba- non, Colchester, and Windham.
 It seems hardly necessary to call attention to the Business of road, of such vast importance, become feeders to it. At New Haven it will con- meet with four lines: at Middletown with one, and at Willimantic with three, while others are being In regard to through trade, single glance at the map is more convincing than any argument can be to the important fact that this route be- ing the shortest, and adording so great saving in in time, must ultimately be the chief thorough
 jCHkRAcTIR AND PRoGREss OF THE WORK. The Road is built under the immediate supervision of the officers of the Company who are most deeply the most thorough, substantial and safest road in the United States. They have called. to their aid the highest engineering skill in the country to i rect the work, and no pains or expense will be 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 NddlstOwn, the bridges eohapiet- ed and being placed in position; the fails 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 force that can be employed to advantageiis at work. It is confidently hoped that the whole line will be finished and in operation during tho Fall or early winter. AM .N Fl
 AS AN INvEsTMENT.- 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 tegslature of the State, of Con. Local Taxation, and by the Company from the United States Income Tax. The utmost eare is used to protect the holders of these Bonds by the Company, at any time, defaults in the paynienteof interest for six months, the Principsl shal option of the holder, become due Immediately.
 The Mortgage is made to the Treasurer of the in trust for the Bondhoiders, which is guarantee of the good faith of the Company, and al pledge that the investors interests will aever suffer from any want Of stability in the holder of their Mort
 HOME INVESTMENT It is unnsc sssary to-, II re-: :. mind the public that Home Entsrpfise carried on in their own State, where all the facts fnregard to it are fully known. is more worthy ot attention
 
 jects in remote parts of the country, which invite loans at sherm0us rates Of interest. The nMaaae gers of this company are we'll known Connections men, and the road itself is 8 most important work 0f internal developement in which every citizen in the state must take inst pride.s u-. .r.
 TAxEs.-The examption of the First Mortgage Bonds from all taxes which may be laid within the state is feature which causes them to rank with the issues ogthe United States, while the addtion- 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 ing profitable investments. It will be borne in mind that the State and Local Taxes in Connecti- cut range from 13 to 22, averaging about per cent. As this tax is saved to holders of the Air Line Bonds it is equivalent to the payment of that amount as extra interest and makes with the say- ing of the income tax, $93 50 on each $1,OOO per annum, or nearly 94 per cent interest on the in- vestment, This large return does not depend on the premium on Gold. which ie liable to decline. and may even fall to par without affecting the in- come from these securities. r ,ps aei. 4ro,taroa
 INCOME, AS COMPARED WITH OTHER MvKsTMrNTs A six per cent Gold Bond, subjectg to. taxation with the premium on gold at 120, must be obtain ed as low as 80 to yield the same amount of net income as these Bonds at par; while with gold at par the 6 per cent gold bond would be worth onlYY about 10, compared with these bonds aS par s | The Connecticut State bonds, which were made exempt from taxation by an act of the Legislature are selling in the market at about 1O3 and at that price, yield an income of (which would ihAk6th Air Line Bonds worth 1142, on the same basis, as at that price they pay the same interest," namely 52 per cent.
 The desire to capitalize the premium which may ha