New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-05-26
RANKING AND FINANCIAL.

Tur Nrvy ORLEANS NOZZLE AND TEXAS RAILROAD
COMPANY are building trunk line, connecting New
Orleans with Mobile ON the east, and giving the
only railroad connection between the former CITY
and the great and most productive State OF Texas on
the west. the total distance from Mobile TO houston
being 475 miles.
The COMPANY is composed of strong Northern
capitalists who have already expended nearly ten
million dollars of their funds i'll the construc-
lion Of the line. They have built about 225 miles
from Mobile westward, and secured by purchase OF
securities and made provision for the thorough repair
and oouipment of the 1Os miles constituting the
Texas divisions leaving but 14) miles to be built to
compIcte the entire road. 1t is believed that no
other railroad corporation in the country has ever
made so large expenditure from It's own means
before offering any of its securities to the public
The Company now offer for sale the EIGHT PER
CENT MORTGAGE BONDS upon the Louisiana division
Of 23Gs miles from NewOrleans to the Sabine River
This will probably be the most valuable portion OF
the whole line as it will be the only rail commune
cation by which the enormous productions OF Texas
can reach the Southern metropolis.
So important Is this road considered to Louisiana,
that the State has made very liberal grants in aid OF
the enterprise by direct donations, by Endorsement
of its bonds and by subscriptions to the stock of the
Company, amounting in all to over eight million
dollars.
The Bonds now offered are of two classes: FIRST
MORTGAGE BONDS to the amount of $12,500 per mile,
and SECOND MORTGAGE BONDS, to an equal amount,
both principal and interest guaranteed by the State
Of Louisiana The price of the two classes is the
same and subscribers can take their choice.
The Bonds are only in the denomination of $1,000,
OF 600 each, interest payable January and July at
the rate of eight per cent currency in NewYork or
seven per cent gold in London at the option of the
holder at the time each coupon is due Bonds
be registered if desired No better security has been
offered TO investors. The line is good and import
ant one, and the stockholders have proved their de-
termination and ability to carry the work to an early
and successful completion, by the very large amount
they have themselves put into it.
The bonds are largely profitable well entirely
'sale One thousand dollars invested in these eight
per cent bonds will give the purchaser more than
seyenty-seven per greater annual interest than
the same amount invested in the new Government
FIVE Per Cents. into which the Government Skies
are beng funded by the Secretary of the Treasury
Al the same price an per cent currency long bond
as FAR cheaper than Z per cent gold one Caculat-
lng return to specie payments in three wears. and
taxing the time that the bonds of the New Orleans.
Mobile and Texas Railroad have to runs wears
we find that by compromising the interest Of each
every six months, at per cent, an per cent cur
rency bond at 30 will give a return of S264 IS more
than per cent gold bond at the same puce or
nearly three times the amount Of the original invest
ment
While the purchaser of the per cent bonds of this
Company realize this special profit he also holds
the option Of taking advantage of any temporary
advance in gold as he has choice at every separate
coupon day, Of gold interest at per cent or cur
rency interest at per cent
The bonds are dated May /, 1871 The first coupon
Wlil therefore, be fractional one, running from
May to July /. The price is 90 and accrued inter
est per cent currency from May to date of re-
mittance Bonds will be sent free Of cost and Gov
ernment aud all other marketable securities will be
isken in exchange at their best market rates with
sut charge for selling.
Information concerning the COMPANY and the