Ashtabula weekly telegraph. [volume] (Ashtabula, Ohio) 1853-1873, 1871-01-21
Northern Pacific Railroad Bonds.

Northern Pacific Railroad Bonds.
| Among the best securities TOR investmcnt at
the present day, undoubtedly, 6Tst iortgsCe
railway bonds hold high position and those
to which we call public attention IN this art
ole are par ezceiIence in this line.
Their issue is made upon such a solid basis
~ to leave no question rs TO their safety, and
| they yield large rates Of interest.
The national importance of the Northern
Pacitic Railroad Was believed to be 80 great
that Congress granted the most stupcnduus
land subsidy to the Company to aid in its con:
structi0n, of which We have any knowledge
which, with jndicious management will in it,
self be fully equivalent to a direct guaranty
of the payment Of the bonds themselves. This
land grant, in area, is an empire in itself,
amounting TO $4,000 acres per mile, and an az
gregate Of over GO,0QQOOO (sixty millions) of
acres, and Is of more varied and valuable
physical character than exists elsew here in the
known world.
The testimony of scien,iic officers of the
United States army who have surveyed and
reported upon all portions of this belt, set
forth invariably its richness of soil, mildness
|
emption from snow, its capacity Of supporting
a dense population, in positive and uniform
accord. There is no SECTION in the world
where the certainty OF larger crops Of wheat,
bIrly, oats, potatoes and other roots is assured;
and west of the Rocky Mountains, on this
belt apples, pears, plums, cherries aud other
fruits are abundantly produced.
| Our readers must bear in mind the fact that
the snow-talls on the belt traversed by this
Road are extremely light, rarely exceeding
two feet in depth in the highest latitudes along
the line, and much lighter than it Is in the
Middle and New England States. The fact is
fully attested by man and beast The pastur.
age of this belt is a marvel to travellers The
domestic cattle OF Montana, Idaho, Dakota
and Washington Territories range out
winter, and are fat in March. Mexican horses,
brought here by Indians, are turned out to
shift for themselves on the range from latitude
As to 50, and come In fat and strong in the
| spring. Portions of this Road will pass
through the winter-hsmes of buffalo elk deer
and antelope, which are always fat in spring.
Trains of paok-mules thrive through the win
ter without forage while subjected to consld-
| cradle service.
There is no qucstion rs to the midness of
the climate, the richness of the soil, and the
feasibility of operating daily trains over this
Road the year through without interruption
| by snsw.
Besides the agricultural resources of this
belt veins of bituminous coal of EXCELLENT
quality and inexhaus,ble quantities cross this
route In various places Iron and other ores
are also found in abundance and timber of
the most valuable species aud of all varieties,
in quantities beyond computation, abound
along the belt of country through which this
great North Pacific Road will pass.
Such, then, is .he general character Of the
climate and productiveness of the land, and
the certain assurance of operating the Road at
all seasons. The Trustees are required to
keep and have AT all times under their control,
rs security for tue first mortgage bondholders
NJ least five hundred acres of average land TO
every thousand dollars of outstanding bonds
besides the Railroad itself, with its equipments
and franchises.
Can there bo any better security than this
We think not 1t is equal to bond and morl-
gage ON improved city property.
The value of this empire OF land will In
part be measured by the revenue derived from
II completed Road aud the inducements to
settle upon the lands.
The way trallc and travel will depend upon
the SOIL climate, timber, fuel, minerals and
wator-power contiguous TO 1t, as will also the
settlement of the country and we know that
no road ever projected had oil these features in
such promise and certainty ~ the North
Pacific
The through traffc and travel has equal
claims upon commerce over other routes, as
The Road will be the shortest of our trans-cOn-
tnentAl railways, OF easiest grade, and cheap.
est which is sufficient of itself TO control the
great bulk of the travel and business. II
shortens the route between Lake Superior and
Puget Sound, IS compared with the distance
between Chicago and San Francisco. 900 miles,
and makes great Saving in expense, Owing
to easier grades, II will be the shortest, tlslest
and cheapest route of commerce aud travel be-
tween Asia and Europe. bringing China and
Japan and Europe 1887 miles nearer each
other than by San Francisco, which " sufii.
ciept to control this lrufflc On the whole,
never was An enterprise entered upon which
bad equal prospects In itself; and when We
sdd that our great National bankers aud hn,
ancisrs, Jay Cooke & Co.. mainly through
whose Efforts our country was supplied with
the sinews OF war during our late struggle,
have control OF its haanceS and u potent voice
In It's management, We may weh be inspired
with confidence everything In eonnectisn with
this enterprise will be managed with practical
economy. safety and integrity.
We sheartily commend ths0e securities 10 our
reAders-NeV York Independent
| It's said that the Lanahan, or Methodist
Book Copeern Investigation of fraud Is likely
to drSvel out. and as In tho former attempt,
amount TO nothing.