Spirit of the age. [volume] (Woodstock, Vt.) 1845-1913, 1871-02-16
FINANCIAL,
NEW $50 GOLD LOAN.
SAFE, PROFITABLE, PERMANENT
JAY COOKE g. co.

JAY COOKE d co.
Offer for sale at par and accrued interest the
first Mortgage Land Grant Gold Bonds of the
Northern Pacific Railroad Company. They are
free from United States tax, and are issued Of
the following denominations coupons $780,
$500 and Il O0O Registered 500, $500, 81 ,OOO
$4,000 and $4,000.
With the same entire confidence with which
we recommended Government bonds to capital
lists and people, we now, after the fullest inves-
legations, recommend these Northern Pacific
Railroad bonds to our friends and the general
public.
GOLD PAYMENT.-Both principal and interes
are payable in American gold coin, at the Office
of Jay Cooke q Co., New York City--the princi-
pal at the end of 3Oyears and the interest at the
rate of seven and three-tenths per cent. per an
NUM- half yearly, first Of January and July.
PERFECT SAFETY.-The bonds we are now sell
ing, are secured by a first and only mortgage on
all the property and rights of tho Northern Pa
ciiic Railroad Company which will embrace on
the completion of the work:
/. Over two thousand miles of road. with roll
ing stock, buildings and all other equipments.
2. Over twenty-five thousand acres of land to
every mile of finished road. This land, agricul-
tural, timbered and mineral, amounting III all to
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 pre-
vdes for their full and prompt payment by an
grant Of land, the most valuable ever
upon great national improvement.
The MoRTGAGE.-The trustees under the mort
gage are, Mcssrs Jay Cooke Of Philadelphia,
and j. Edgar Thompson, President of the Penn
sylyania Central Railroad Company. They will |
directly and permanently represent the interests
Of the First Mortgage Bondholdors, and are re-
CURED to see that the proceeds of land sales are
Used in purchasing and canceling the bonds Of |
he Company, if they can be bought before ma
wity at not more than ten per cent. premium;
otherwise the trustees are to invest the proceeds
If land sales in United States bonds or real estate
for the further security of Northern
Pacific bondholders. Also, that they have at al
ines in their CONTROL as security, at least 500 |
cres OF average land to every II 900 of out
standing first mortgage bonds, besides the rail
Dad itself and all its equipments and franchises.
DnIr,f rArrr- n
safer than the bonds of the United States, but |
vs. the Government is no longer borrower, and
Is the Nations present work is not that of pre-
eryinG its existence. but that of developing a
ointment, we remind those who desire to increase
helr income and obtain more permanent in
estment, while still having perfectly reliable
ecurity, that:
United States 5-2O's at their average premium
ield the present. purchaser less than 5 10 per
ent. gold interest. Should they be redeemed
five years, and specie payments be resumed
hey would really pay only 3-S per cent, or if
n three years, only 10 per cent, as the present
remium would meanwhile be sunk.
Northern Pacific zoos selling at par in cur
ency yield the investor $40 per cent. gold in
crest absolutely for thirty years, free from
Tnited States tax. Sj1,0O currency invested now
4 United States 5-20's will yield per year in
old, say $G2.OO S1,1OO currency invested now
l Northern Pacific 1905 will yield per year in
old 5000. Here is difference in annual in
ONE of nearly one-third, besides difference of
to 10 per cent. in principal, when both classes
f bonds are redeemed.
The ROAD Now BUIDING.-Wo was begun
l July last on the eastern portion of the line
nd the money provided, by the sale to stock
olders of some six millions Of the Companys
onds, to build and equid the road from Lake
uperior across Minnesota the Red River of the
orth-233 miles. The grading on this division
now well advanced, the iron is being rapidly
i'd, several thousand men are at work on the
ne, ane about the first Of August next, this i'm
ortant section of the road will be in full opera
on. In the meantime orders have been sent to
ne Pacific coast, for the commencement of the
ork will be pushed, both eastward and west
ard, with as much as may be consistent with
Olidity and wise economy.
RECEIVABLE FOR LANDs.-Theso bonds will at '
II times, before maturity, receivable, at Ito in
ayment for the Company's land at their lowest
ash price.
BONDS EXCHANGEADLE.-Th registered bonds
an be exchanged at any time for coupons, the {
oupons for registered, and both these can be ]
xchanged for others, payable principal and in
crest at any of the principal financial centres {
f Europe, i'll the coin of the various European /
Ountries.
How TO GET THEM.-Your nearest Bank or 6
anker will supply these bonds in any desired
mount, and of auy needed denomination. Per-
ons wishing to exchange stocks OF other bonds :
IL these, can do so with any of our agents, who !
ill allow the highest current price for all mar
etable securities.
Those living in localities remote from banks
lay send money, or other bonds, directly to us
Y express, and we will send back Northern Pa
fc bonds at our own risk, and without cost to
le investor. For further information, pam
hlets, maps, etc., call on or address the under
gned, or any of the banks or bankers employed
sell this loan. I
JAY, COOKE & Co., Financial Agents. Sub t
,riptions received by MORGAN, KEENE & MAR
IN, 2 10 Wall st., N Y, General Agents.
vooDsTooK NATIONAL BANK, L. JOHNSON, Cash t
#, Local Agent.