Mower County transcript. [volume] (Lansing, Minn.) 1868-1915, 1871-09-28

Messrs. Jay Cooke & Co., whose opinion
regarding money matters is certainly en-
titled to great weight, have issued the fol-
loairg financial circu ar relative to the
general conditions of the loan market, and
the exchanging of government bonds for
railroad securities:
OFFICE OF JAY Cook j. Co.,
Philadelphia, September, 1871.
The signal SUCCESS OF the New Five Fer
Cent Government Loan toresbadoWs the
early funding of the entire public debt at
a less rate than 6 per GEN., and indicates
that the average rate OF interest on loan
able capital in this country will hencefor-
ward be considerably lower than it. has
been, the tendency being to an equalizA-
ton of rates between America and Europe
In view Of these facts, the present hold
ers of United States Five TWenties must
decide whether it is not best to make at
once such change of investment as will
enable them to realize as profit, or add to
their capital. the present average premium
of IA per cent on Five Twenties, while at
the same time largely increasing their
annual income.
Holders of Fivc-Twenties Of the issues
of 1862 which, under the recent announce
ment of the Secretary of the Treasury,
will b. paid off in December next, have
special and immediate reason to considtr
the question of conversion. unless they
wish to receive coin for their Five
Ivy, mites, or exchange them at par f'r
bonds of the new issue, bearing ali average
rate of AZ per C mt:
To all holders of United States securities
who wish to take advantage OF the present
most favorable opportunity for changing
their Investment at large profit, we
strongly recommend Northern Pacific
Seven -Thirties (principal and interest pay
able in gold), now selling at par in cur
rency The results already accomplished
in the construction and equipment OF near
ly TIL. zee Hundred Miles of road, and the
rapid dew lopment of the adjacent country,
have established the permanency and sue:
cess of the Northern Pacific enterprise and
created large and rapidly increasing de-
mand Tor the Fist Mortgage Bonds OF the
company. With their high rate of interest,
ample security. and their convert,blllty INTO
the Lands OF the Company at 10 per cent.
premium, they constitute most desirable
Investment, and can hardly fail to advance
considerably above par at an early day.
Thu holder of a 81 600 Five twenty bond
who exchanges it n00 for Northern "a.
cities, thereby increases his principal by IA
per cent, receiving 81, 140 in Northern Pa.
cities for ST. ,OuO in Five Twenties. lie also
permanently increases the yearly interest
income on his investment more than 80 per
cent, or from $4,000 in gold to SS}22 i'll
gold.
Funds invested in Fivc.Twenties at their
present premium yield 81 per cent. inter
est in gold, or 5 10 in CURRENCY. Northern
paci &c s ven hirtics yield 1910 per cent.
in gold. or 8 d in currency.
These most unusual opportunities tor the
protitablecOpvcrsion o Government Bonds
into Corporate Sccuriti' Of undoubted
reliability cannot. in the nature OF the
case, long continue. The increasing abun.
dance of loanablc capital both at h,;'ne and
abroad: the almost certain rise IN Value
%, I'll desirable railroad mortgages, the
+ :pi, absorption of Northern Patltlc
Seven Thirtles and the probable earl y sub
sttu,ion of six per cent bond for the r.,
mainder of the Northern Pacific loan, ana
the early funding Of the remainder OF the
Matt nal Debt ut lower rates, promise very
soon To chang: the cu,irc aspect OF VIC
|. IN marHc', which is just now SO recu'
| liarIy favorable to invt st.rs.
Tnis state Of things suggests promW dc'
ton on the part eff those wh> wish t." ex-
change securities in time 10 pr tit Ivy the
present high pr,mum on Five Fwentlts'
JAY COOKE & Co.
! pAUndeiphio, -Neao York and Washington,