The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1871-01-20
FINANCIAL.
Jay COOKE & co.

4lOASesSAS'
JAY COOKE & co.
Offer for sale at par and accrued interest ths ne
First Mortgage Land Grant Gold Bonds OF
the Northern Pacific Railroad Company;
They are free from United States lax, ana
are issued of the following denominations
Coupons 500. $500 and $1,000; Registereu
500. $500, $1,000. $4,000 and $4,000.
With the same entire confidence with
which we commended Government oonds
to Capitalists and People, we now, after the
fullest investigation, recommend THESE
Northern Pacific Railroad bonds TO our
friends and the general neral uPRl ntb rrincipa,
and interest are payable in American gold
coin, at she Office OF Jay Cooke & Co., New
York City-the principal at the end OF 81
wears, and the interest lat the rate OF seven
and three-tenths per cent. per annum) hait-
yearly, first oS.Eanuary and July:
PERFECT SAFETY.-The bonds we
are now selling are secured by first and
only mortgage on all the property ana
rights of the Northern Pacific railroad Com
pany, which Will embrace on the compile
ton Of the work:
|. Over Two Thousand Miles Of Road, with
rolling stock, buildings, and all other equip
ments.
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 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
guarontee the bonds OF the road, 1t thus
amply provides for their full and prompt
payment bv an unreserved grant OF land,
| the most valuable ever conferred upon
great national improvement.
THE MORTGAGE.-The1 Trustees under
the Mortgage are E MesSrsi Jay s0Ok P OF
ident of the Pennsylvania Central Railroad
Comppny. They will directly and perma-
nently represent the interests of the First
Mortgage bond holders, ann are required TO
see that the proceeds ~ idid nleS are used In
purchasing and cdnceiiHg the bonds Of The conn
NAM If they can be bought before maturity
ut not 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, rs security, ut least 30 acres OF
average land to every $1,000 OF outstanding
first mortgage bonds, besides the railroad
itself and all its equipments and franchises.
ESS.-Of course moth
ing can be safer than the bonds OF the Uni
ted States, but as the Government Is no
longer borrower, and as the Nations
present work Is not that Of preserving It's
existence, but that Of DEVELOPING A CONT |
NEST, we remind those who desire to in
crease their income ana obtain more per-
manent Investment, while sun having
perfectly reliable security, that:
United States 5-20's at their average pre-
MUM yield the present purchaser less than
% per cent gold interest. Should they DE
redeemed in five years, and specie payments
be resumed, they would really pay only
"a per cent, or II III three years, only 81
per cent, MS the present premium would
meanwhile be sunk.
Northern racine '-3OS selilng AT par IN
currency yleiu tne investor :, 5-iu per cent.
gold interest absolutely for thirty years, Jree
from United StmeS tdL: siOOo currency IN,
vested now III I hlted STATES ID VIII ylelu
per year IN gold' say sou; sigo currency
lnVeSled now IN err M 6acIlc 90 VIZ
lelu per year W YOU, 90 ,ari, ~ I'LL
1 JIos w di1ara,'n, ~ 70 IN nSr non, r.,
besides uliierence oi 10 ~ PEI cent III
prlhcipali "heii po'ii 'l'i>H's vi poiiuo art
reGerIneu: >ow y,rn~r
~. e.. 80. ~, loo, -, ~ 49,,
WoIh wa Desui III o.'If i,S' VI VI: Ii
portion OF the line, and the money proVld-
u;,iiSo,, ~ ~, H. con,~anr.'s hnnds 10 huiid
and eouip the road from Lake superior
across Minnesota 70 the Red River of the |
North-2S3 miles. The grading on the di- |
vision is now well advanced the iron being
rapidly laid: several thousand ilen are al ,
work on the line, and about the first OF Au-
gust next this iInportant section of the road
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
and westward, with as much speed as may
he consistent with Solidity ana wisei
economy.
RECEitABLE FOX LANDS.-Ihose