New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-09-06
BANKING AND FINANCIAL.
THE VALUE OF LAND GRANTS
TO RAILROAD COMPANIES.

TO hAILROAD NOMPANIES.
In Offering the remainder of the First Mortgages
Sinking Fund Land Grant Bonds Of the ST. Joseph aad
Denrer City Railroad Company to the public would
respectfully call their attention to few facts in re-
the lands granted are located in fertile section Of
country. The Illinois Central Railroad Company
was the frat to receive Government aid In the
shape of Lands and In 1850 received grant o.
2,595,OOO acres. Of these lands the Company have
sold 279SOO acres and realized for the same $24 1900
$685. The remaining 1880 acres are now selling at
an average of S12 so per acre, equal to S5,25sO5.
This would make the total value Of the Illinois Cen
trail Land Grant equal to thirty million one hundred
and y6fy-sir thousand hundred and eighty-eght
dollars $780, 1885, largely in excess of their bonded
debt This Land Grant is located in prairie country
and at the time the grant was made the land was con-
sidered among the choicest in the West for farming
purposes. These facts show the great value of land
grants to railroad corporations. The lands OF the
St. Joseph and Denver City Railroad Company 90
far as their formation is concerned are not ~ Me o's
inferior to those Of the Illinois Central COMPANY SA'@
their fertility and adaptabty for farming and Other pur'
poses are equal not superior to any lands in the "a|
ern country The line of the st. Joseph and Denver
City Land Grant comprises an old and fayoie route
for wagon travel before the road was projected As
natural consequence the country Is we'll popuiated'
at many points thickly So aud the land cultivated
and deyeloped The st. Joseph and Denver City
Company therefore has the advantage Of populated
and cultivated country, with an established hisn
price for its lands In other words the st. Joseph
and Denver City Railroad Company Will
realize at once the same oencnts anu
profit from its land grant which wouid 10
realized from Companies owning lands IN oide4
States. At the present price Of the ILLINOIS oen'A'
Company Lands 1912 so per acre) those OF 'ne d"
Joseph and Denver City Company would reaii1e
total of IL. , 80, 900, and if we take into con-
sideration the future growth OF the "'''''.
Country, aud the natural attractions when 'ueS'
lands offer, then, indeed the amount e'en'"'
ally realized must largely exceed TINS sd''
Yet these Bonds, which we are now oner
ino mr.. backed by such security 40 this 70
say nothing OF ther ooiht "i'' q
trunk line which shortens the distance between tho
Atlantic and Pacific 80 miles which must naturally
have large traffic. aud viii eventually take rank
with the highestp priced railroad bonds on the New"
York Stock Exchange The liberal daily sud
scriptions to this loan steadily decreasing '"e
amount unsold, and while they are one1o'
for the present ct W aud accrued Id
terest, the right Is reserved to advance
ths nrice at any time without notice The lAsse
amount Of $40 Bonds which the Govesnmeut Is s'''
to pay off by the recent negotiations OF
per cent Bonds must stimulate largely tive '"''
ment demand Ger the spsr cont Gold Bonds "
st. Joseph and Denver City, Railroad Compso -. -
the immediate future In viewof this an" s''' ''
fact that it " rarely u. bond Is offered t" ave..
which combines. all tia. rssassasss es'1ss"