Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1871-06-03
1,nmigratiOn observation-disclosures OF
Waste Lands---HmpOrfaEt to Land
r,nItIers---Tcrnis. Plans. Purposes,
&c., &c.

OFFICE OF TIE o., A. l. NJ. Il. II. Co..
ALEXANDRIA, Va. June |. ISL.
r, thr o,rne,s efrcnI c<t"t" lYi"y "i"~h" a..
4. a. " Il. r.: -, |
,,rnvisions of an act Of the General AS>cmhlyoi
Virginia. passed in March last by which this
company obtained authority OF law TO purchase
lands within five miles on either SIDE OF Its line
If railroad. not exceeding two hundred thousand
acres in extent. and with power to Issue bonds
and certificates and create stock loans. IN pay
mcnt of same The Board OF Directors nave
amounted committee to digest some plan TO
clrry into practical effect the proposed helne
in accordance with the arl OF Assembly above
mentioned. -, :.
The committee have considered the subject,
and decided TO present 10 the landhoders the
following plan Us basis OF operations and m
yitc proposals Oh the terms stated w: he
comnauv to iSsrle. for the purpose Of purchas
inc such lands as it may be desirab Die 10 possess
at suitable points. coupon bonds bearing inter
ct If the rate Of six per centum per annum
from date AMI principal payable fifteen years
from delivery and time of purchase. interest to
bc mid semi-annually at the Office OF the com
panv and the faith Of the company to be plcdg
ed that the lands thus acquired shall DC regard
ed rs collateral security for payment OF the
bonds 50 created. and the proceeds derived
from their resale shall he applied to pay aGcru-
ing interest, and residue set apart rs sinking
funl for ultimate redemption ut the original
land bonds. 1t is also to be provided that the
bonds us above issued shall be- receivable at
par value in payment OF any purchases OF lands
offered by the company Tor resale hereafter. ut
their schedule rates.
l'pon the terms is above sci out have been
instructed to invite proposals from owners OF
real estate, and to submit i'll brief form some
views in explanation OF the object sought to BE-
attained by the company in the purchase OF
lands anu the valuable results the community
which are like y TO follow the practical cXccH-
ton Of the plan. It is easy To perceive the IN
tercSt Which the company has in view I" carry
into effect the proposed scheme There are
LARGE belts and tracts Of land along the line Of
its railroad comparatively unoccuplcd and lying
waste. and to which the advent Of population and
capital would add new value, stimulate pruuuc-.
ton. and increase tho business OF tr:lnsp0rta-
ton both of freight and passengers. lndlvld-
ual efforts to settle these lands have :" tar
failed. anL do nO promise success. State a''-
ton is rrccluded b. reason Of its financial con
dtion and the agency Of the railroad compall-
les is the only alternative which can ne pauSl,
bly employed now for the object. Why should
not the landowners make the proposed conrcr-
sion Of their unprOductlyc properties into
valuable interest bearing security which the
company offers in exchange? The bonds which
the COMPANY propose t. offer lii payment nt
land purchases will carr with them the credit
which the company has secured for its obhga-
ti0n- and will have in addition the specific Sc
curty Of the proceeds derived from sale: OF
lands The value OF such bond; could not bc
dsparaeed where known, and with the facility
which the company possesses Of receipts from
transportation. the payment Of interest regular
" could not reasonably be dstrlStol Whether
then these bonds be kept for permanent invest
mcnt III appropriated in payment Of debt,
their value must be conceded Is better than
unpr0ducivc and lotherwi2el unSalcablc lands,
for either object Such bonds payable to bearer.
with coupons attached, and divsiblc INTO sum
Of from one hundred. To one thousand dollars
would pass from hand to hand in the ordinary
cuisines. Of the community. and approximate
currency III value, The company has hereto
fore paid it. interest punctuaily and it; SIX per
cent bonds now sell readily III Baltimore ut
from 7i:Tcnty-fve to cghty-iirr cent? III the
dollar It Is not urged that owner, II real
estate should sell all their Land but
only such parcel: a. ii. unproductiyc, OF
where compelled By necessity to *cil While
the people of Virginia have ioat the bulk III
their personal property. and must i>?i: 10 their
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