The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1871-03-14
FINANCIAL,
new 7-30GOLDL0AN
.srE *! OF THE
Northern Pacific Railroad Co.
Secured by First Mortgage on Rail
road and Land Grant.
Safe ! Profitable! Permanent |!
IAY GOAKE a. On.
JAY COOKE & 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 800, $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 10 our
friends and the general public. LIP
GOLD PAHMENT.-Both principal
and interest are payable in American gold
coin, at she office OF Jay Cooke & Co., New
York City--the principal AT the end OF 30
wears, and the interest lat the rate Of seven
and three-tenths per cent. per annum) half
yearly: tirst Of January nary snd July; ,
are now selling, are secured by n first and
| only mortgage on all the property and
rights OF the Northern Pacific railroad Com
pany, which Will embrace on the compile
| ton OF the work:
olling stock, buildings, and all other equip
! ments.
. over TWENTY-FIVE Thousand Acres Of
Land to every mile OF finished road. This
| land agricultural, timbered and mineral,
! amounting in all TO more than Fifty Million
Acres, consists of alternate sections, reach
ing 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
guarantee the bonds OF the road, IL thus
amply provides for their full and prompt
payment bv an unreserved grant OF land,
| the most valuable ever conferred upon a
great national Improvement
THE MORTGAGE.--The Trustees under
the Mortgage, are Messrs. Jay Cooke, OF
Philadelphia, and j. Edgar Thompson, Pres
ident OF the Pennsylvania Central Railroad
Company. They will directly and perma-
nently represent the interests of the First
Mortgage bond holders, anfi are required TO
see that the proceeds Of land wales are used in
purchasing and cdnceiing the bonds Of the conn
pdRy II they can be bought before maturity
at net more than 10 per cent. premium
otherwise the Trustees are to invest the pro-
ceeds OF land sales in United States Bonds
or Real Estate Mortgages for the further Sc
curity of Northern Pacific bondholders.
Also, that they have at all times in their
control, as security, Mt least so acres OF
average land TO every $1,000 OF outstanding
first mortgage bonds, besides the railroad
itself and all its equipments and franchises.
PROFITABLENESS course moth
ing can be safer than the bonds OF the Uni
ted States, but AZ the Government Is no
longer a borrower, and as the Nations
present work is not that OF preserving its
existence, but that OF DEVELOPING A CONT
NENT, we remind those who desire To in
crease their income and obtain more per-
manent investment, while still having a
perfectly reliable security, that:
United states 5-D's at their average pre-
MUM yield the present purchaser less TINA
81 per cent. gold interest. Should they be
redeemed In five years and specie payments
be resumed, they would really pay only
~ per cent, or II I'm three years, only 81
per cent, rs the present premium would
meanwhile be sunk.
Northern Pacific 7-SOs selling at par in
currency yield the investor 3-lO per cent.
gold interest absolutely for thirty years, free
from United States tar. $1,000 currency in
vested now in United States sos will yield
per year in gold, say .0O. $1,000 currency
invested now in Northern Pacific 7-3D's will
yield per year in gold, 5000. Here Is "A diff
| ference an annual income Of nearly One-third,
besides difference of to Id per cent. In
principal, when both classes of bonds are
redeemed.
THE ROAD NOW BUILDING
| Work was begun I'm July last on the eastern
portion of the line, and the money proyid-
ed, by the sale TO stockholders OF some six
million Of the companys bonds, 10 build
and equip the road from Lake Superior
across Minnesota to the Red River OF the
North-28 miles. The grading on the d.
vision Is now well advanced, the iron being
rapidly laid; several thousand men are al
work on the line, and about the first OF Au-
gust next this important section Of the road
will be In full operation. In the meantime
orders have been sent To 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
bnd westward, with as much speed as may
ae consistent with solidity and wise
economy.
RECEIVABLE FOR LANDS.-Those
bonds will be nj all times, before maturity
receivable, at Ito, in payment for the com.
pany's lands, at their lowest cash price.