Lamoille newsdealer. [volume] (Hyde Park, Vt.) 1860-1877, 1871-06-28
FIRST MORTAdE GOLD BONDS.

The stock subscriptions to the three
Companies comprising the Vermont Dr.
visions of the Through Line, amount to
over 81 200, 600 which amount, under
the favorable contracts already made, it
is confidently believed, will nearly COM
plete the road.bed in 6rst-class manner,
ready for the ties aud iron. The corpor-
ations, whose Titles aud Officers are given
on preceding page, while preserving
their proprietary and chartered rights
separate and distinct, have united their
business interests, and joined their respec-
tive properties so as to form one continu-
Gus railroad. The whole is placed under
one Executive control and management,
and forums. for all the purposes Of rail-
road construction aud operation, one
Company. under the title of the "Ver-
mont Division of the Portland and Og-
densburg Railroad Lane"
In order to provide Tor the more speedy
construction aud more complete equip
ment of the line, the Directors have been
authorized by a vote of the stockholders
to issue their first mortgage bonds, bear
ing six per cent. interest per annum IN
gold, not to exceed in amount $4,000
per mile Of the road, interest payable III
Boston in gold coin. The President and
the officers OF the respective Companies
have, therefore, executed aud duly placed
upon record, first and only mortgage
dated May list, to Messrs. Luke Z. Po
land and Abraham T. Lowe, Trustees fol
the bond-holders, covering the whole line
of their roads in Vermont 1l7 miles, al
near as may oe), together with the fran
chises, equipment, etc., now on hand ant
hereafter purchased, as security for thu
repay ment of the bonds. The bonds, re
, gistered or coupon, issued in coniormii.
with this instrument. in the preparation
OF which, eminent legal counsel in New
York City and in Vermont have bee1
consulted, furnish safe and desirabl
security for the investment Of surplu
capital, They may be as confidently lie
, ceived and recommended as those OF an
D State, municipality, or corporation IN tn
D country.
q SAFE AND PROFITABLE INVESTMENTS.
0 For the following reasons, viz:
FirSt--They are the first lien on
short. easy, and much needed Trunk Lin
between the Lakes and the seaboarc
whose revenues from through traffic mus
$ be large and remunerative.
E Second-Fhey are home security
D based on road whose business, and who's
\ \ officers, are we'll known and appreciate
in our midst.
N Thard--'fhe summer travel over tn
70 line will be large and will continually IL
crease, giving assurance that the loci
% traffic aloue will be sufficient to meet a
% the expenses Of operation and the intere
y, ~ liabilities besides.
Il Fouth-The law and usage Of railroi
r bonds in this country is we'll establish
20 and well emf reed. 1t has been we'll Sc
~ tied and defined by the ourtsof Vernon
M and holders of our bonds are exempt fro
40 risks such as pertain to securities issu
70 in the newer States.
Nvee Fitth--Past experience has shown tn
ak good railroad bonds have proved to
unusually safe, reliable, and prohtat
investments for spare capital. They
in more convenient than landed purchas
ID. or real estate mortgages, being in small
no narcels and may be more rapidly turn
Oh into cash, or used as security for temp
or ay loans.
to A careful examination of the m
st. showing the road and its connections
is tached hereto, will show the importal
on, of this great New England enterprise, I
The will convince all investors that no IA
securities can be offered than the Jt
The Bonds Of this Railroad line.