The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1871-02-07

Northern Pacific Railroad Co.
Secured by FIRST Mortgage on Railroad and
Land Grant,
SAFE PROFITABLE PERMANENT ,
JAY COOKE & co.
Offer for sale at par and accrued interest the First
Mortgage Land Grant Gold Bonds of the North
ern Pacific Railroad Company They are free
from United States Tax, and issued of the fol-
lowing denominations: Coupons 500, $500, and
$1,000; Registered 500, $500, $1,000, $4,000,
and $4,000.
With the same entire confidence with which we
commended Government bonds to capitalists and
people, we now, after the fullest investigation,
recommend these Northern Pacific Railroad bonds
to our friends and the general public.
GOLD PAYMENr.-Both principal and interest
are payable in American gold coin, at the Office of
Jay Cooke 4 Co.. New York City--the principal
at the end Of thirty years, and the interest Cat
the rate of seven and three-tenths per cent. per
annum) half-yearly first of January and July.
PERFECT SAFETY.-The bonds we are now SELL
ing are secured by first and only mortgage on
all the property and rights of the Northern Pa
cihc Railroad Company, which will embrace on
the completion Of the work
|. Over two thousand miles Of Road with
rolling stock, buildings, and all other equipments
2. Over twenty-five thousand acres of land to
every mile of finished road This land, agricul-
tuiuii tihucIeu anu iIlutfal III I'LL 10
more than fifty million acres, consists of alter
nate sections, reaching twenty to forty miles on
each side of the track, and extending in broad
fertile belt from Wisconsin through the richest
portions of Minnesota, Dakota, Montana, Idaho,
Oregon and Washington, to Puget Sound.
While the government does not directly guar
antee the bonds of the road, it thus amply pro-
vides for their full and prompt payment by I'M
reserved grant of land, the most valuable ever
conferred upon great national improvement.
The MoRrGAGE.-The Trustees under the mort
gage, are Messrs. Jay Cooke of Philadelphia, and
j. Edgar Thomson, President of the Pennsylva-
mia Central Railroad Company. They will d.
rectly and permanently represent the interests OF
the first mortgage bond holders, and are required
to that the proceeds Of land sales are used in
purchasing aud canceiing the bonds of the Companq
if they can be bought before maturity at not more
than 10 per cent premium; otherwise the Trus-
tees are to invest the proceeds of lano sales in
United States Bonds or Real Estate Mortgages
for the further security of Northern Pacific bond
holders. Also, that they have at all times in their
CONTROL security, at least 500 acres Of average
land to every $1,000 of outstanding first mortgag
bonds besides the railroad itself and all its equip
ments and franchises.
PRoFITABLESFss.-0fc course nothing can be
safer than the bonds of the United States, but as
the government is no longer a borrower, and AS
the Nations present work is not that of preserv-
ing its existence but that of developing II CONT
nent, remind those who desire to increase their
income and obtain more permanent investment,
while still having perfectly reliable security,
that
United States 2Os at their average premium
yield the present purchaser less than 3 per
cent. gold interest. Should they be redeemed in
five years, and specie payments be resumed, they
would really pay only 3-s per cent, or if in
three years, only IL per cent, AS the present
premium would meanwhile be sunk.
Northern Pacific 1905 selling at par in curren-
cy yield the investor I $40 per cent gold inter
est absolutely for thirty years, free from tnted
States tar. 81, 100 currency invested now in Uni
ted States 5-20's will yield per year in gold, say
S62. 81 100 currency invested now in Northern
Pacific 1905 will yield per year in gold, 5000
Here is a difference m annual income of nearly
ons-third, besides difference of : to 10 per cent
in principal, when both classes Of bonds are re-
deemed.
Tue ROAD SOW BuiLDiNG.-Work was begun
in July last the eastern portion of the line,
and the money provided, by the sale to stock
holders of some six millions of tho companys
bonds, to build and equip the road from Lake SUI
perior across Minnesota TO the Red River of the
North-233 miles. The grading on this division
is now we'll advanced, the iron is being rapidly
laid; several thousand men are at work on the
line, and about the first of August next this i'm
portant section of the road will be in full opera
ton. In the meantime orders have been sent Il
the Pacific coast for the commencement Of the
work on the western end in early spring, and
thereafter the work will be pushed, both eastward
and westward with as much speed rs may be con
sistent with solidity and wise economy.
| RECEIVABLE ron LANDs-rhese bonds will be
at all times before maturity, receivable, at LILO
in payment for the company's lands at their low
est Dash price.
BONDS ExcmANGEABLE.-The registered bonds
can be exchanged at any time for coupons, the
coupons for registered, and both these can be ex
changed for others payable principal and interest
at any of the principal financial centres of Eu
rope, in the coin of the various European coun-
tries.
How To GET TmEN.-lour nearest bank OF
banker will supply these bonds in any desired a.
mount, and of any needed denomination. Per
sons wishing TO exchange stocks or other bond
for these, can do SO with any Of our agents, wh'
will allow the highest current price for all mar
ketable securities.
Those living in localities remote from banks
may send money, or other bonds directly to u
by express and we will send back Northern Pa
cfc bonds at our own risk, and without cost Il
the investor For further information, pamphlets
maps, etc, call on or address the undersigned, Of
any of the banks OF bankers employed to sell thi
loan. JAY COohE a w.,
Financial Agents
Subscriptions received by MORGAN. KEEN
4 MARVIN, 2 Ia Wall Street, N Y, Genera
Agents.
First National Bank, Middlebury, Local Agent