Spirit of the age. [volume] (Woodstock, Vt.) 1845-1913, 1871-03-23
FINANCIAL
SAFE, PROFITABLE, PERMANENT
JAY COOKE e. co.

JAY COOKE & CO.
OfGer 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 800,
$500 and II 900; Registered 500, $780, 81 900,
$4,000 and 100000
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 PAYMENr,--Both principal and interes
are payable in American gold coin, at the Office
of Jay Cooke d Co., New York City-the princi-
pal at the end of 30years, 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 first and only mortgage on
all the property and rights of the Northern Pa
citic 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 in 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 a 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 tho bonds of the road, it thus amply pro-
vides for their full and prompt payment by an
mreseryed grant of land, the most valuable ever
conferred upon great national improvement.
The MoRTGAGE.--T trustees under the mort
gage are, Messrs. 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-
quired to see that the proceeds of land sales are
used i'll purchasing and canceling the bonds of
the Company, if they can be bought before ma
turity at not more than ten per cent. premium !:
otherwise the trustees are to invest the proceeds
of land sales in United States bonds or real estate
mortgages for the further security of Northern
Pacific bondholders. Also, that they have at al
times in their control, as security, at least 500
acres of average land to every II 900 of out
standing first mortgage bonds, besides the rail
road Itself and all its equipments and franchises.
PRoFIrABLENESs-Of course nothing can be
/
safer than the bonds of the United States. but
as the Government is no longer borrower. and
as the Nations present work is not that of pre-
serving its existence. but that of developing a
continent, weremind those vino desire to increase
their income and obtain more permanent in
vestmcnt, while still having perfectly reliable
security, that;
United States 5-2O's at their average premium
yield the present. purchaser less than 5 10 per
cent. gold interest. Should they be redeemed
in five years, and specie payments be resumed.
they would really pay only 3-8 per cent. or if
in three years, only percent. as the present
premium would meanwhile be sunk.
Northern Pacific 73Os selling at par in cur
rency yield the investor $40 per cent. gold in
terest absolutely for thirty years, free from
United States tax. sl.OO currency invested now
in United States 5-2Os will yield per year in
gold, say 2G2.0O SLIGO currency invested now
in Northern Pacific 7-3O's will yield per wear in
gold 5000. Here is Il difference in annual in
come of nearly one-third, besides difference of
to III per cent. in principal, when both classes
Of bonds are redeemed.
The ROAD Now BUILDIYG.-Wo was beoun
IN July last on the eastern portion of the line.
ana the money provided by the sale to stock
holders OF some six millions of the Companvs
bonds, to build and equid the road from Lake
Superior across Minnesota the Red River of the
North-233 miles. The grading on this division
Is now well advanced, the iron il being RAPIDLY
laid, several thousand men are at work on the
line, ane 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 to
the Pacific coast, for the commencement of the
work will be pushed, both eastward and vest
ward, with as much as may be consistent with
solidity and wise economy
RECEIVABLE FOR LANDs.-Thesc bonds will at
all times, before maturity, receivable, at Ito in
payment for tho Company's land, at their lowest
cash price.
BONDS EXcHANdEADLE.-The registered bonds
can be exchanged at any time for coupons the
coupons for registered and both these can be
exchanged for Others payable, principal and in
terest, at any of the principal financial centres
of Europe, in the coin of the various Euopean
countries.
How TO GET THEM.-Your nearest Bank or
Banker will supply these bonds in any desired
amount, and of auyneeded denomination. Per-
sons wishing to exchange stocks or other bonds
for these, can do 50 with any of our agents who
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 us
by express, and we will send back Northern Pa
clic bonds at our own risk and without cost to
the investor For further information. PAM
phlets, maps, ETC., call on or address the under
signed, or any of the banks or bankers employed
to sell this loan.
JAY, Cooke q Co., Financial Agents. Sub
scriptions received by MORGAN, KEENE & MAR
YIN, l-2 Wall ST., N. Y, General Agents.
WOODSTOCK NATIONAL BANK, L. JOHNSON, CASH
ier Local Agent.