The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1871-10-05
CONVERTING U. S. FIVE. TWENTIEs i.

| !, o"J NooAG " 20, nave issued
'ne following financial circular, relative
the general condition of the loan mar
ke'' and exchanging Of government bonds
Tor railroad securities:
BANKING HOUSE OF JAY COOKE s. Co.,
nm fhlladelphia, September, 1871
nc signal success of the New Five
Fer cent. Government Loan foreshadows
ne early funding of the entire Public
DeoI aI per cent or less rate, and in
ulca'eS that the average rate of interest
on loanaole capital in this country will
noC hehceToFWard be much above q ner
cent, the tendency being to an eauaIiza-
ZION or rates between America and I'm.
rope. 1'"'
Ia view Of these facts, the present
holders Of United States FIye.TwentIos
must decide whether 1t is not best to
make at once such change of invest
ment as will enable them to realize as
PrQ75t, or add to their capital, the present
average premium ofl4 per cent on Five
iwenties, while at the same tim, largely,
increasing their annual income
Holders of Five-Twenties, of the issues
.ot 1862 which, under the recent an
nouncement OF the Secretary of the
treasury, Will be paid off in December
next, have special and immediate reason
10 consider the question of conversion,
unless they wish to receive coin for their
FIVE IWentles, or exchange them at par
Tor bonds of the new issues, bearing an
average rate OF ~ per cent.
To all holders of United States securi-
t'es who wish to take advantage of the
present most favorable opportunity for
making the suggested change of invest
ment we strongly recommend Northern
Pacific Seven Thirties (principal and In.
terest payable in g0ld) now selling at par
In currency. The result already accom-
lJllshed In the construction and euuip-
ment Of nearly Three Hundred Miles of
RoaG, and the rapid Development Of the
adjacent country, hare established the
permanency and success Of the Northern
Paclhc enterprise, and created a large
&nd rapidly increasing demand for the
FIRST Mortgage Bonds Of the Company
WIN their high rate Of interest, ample
security, and their conyertablity into
the Lands Of the Company at 10 per cent.
premium, they constitute most desira-
Die investment, and can hardly fail TO ad-
vance considerably above par at an carly
day.
The holder OF $1,000 Five-Twenty
bond who exchanges it m0o for Northern
Pacltics, thereby increases his principal
| by IA per cent, receiving ST. 40 la
Northern Paciics for $1,000 in Five
TWentIes. lie also permanently increases
the yearly Interest income on his invest
ment more than 80 per ceut., or from
$4,000 in gold to- $500 in gold
Funds invested in Five Twenties at
their present premium, yield Ii per cent.
interest in gold or $40 in currency.
Northern Pacific Seven Thirties weld
z 10 per cent. in gold or Sd in cur
rency.
These most unusual opportunities for
the profitable conversion Of Government
bonus into Corporate Securities Of un-
doubted reliability cannot, in the nature
OF the case long continue The inCreas-
ing abundance Of loanable capital both
at home and abroad the almost certain
raise IN value of all desirable railroad
mortgages, the early funding Of the resi-
due OF the National Debt to lower rates,
the rapid absorption Of Northern Pacific
/ Seven Ihirtles and the probable early
substitution OF a SIX per cent. bond for
the remainder Of the Northern Pacific
loan, promise very soon to change the en-
tire aspect of the loan market, which is
Just now SO peculiarly favorable to in
vestors.
THIS state Of things suggests prompt
action on the part of those who wish to
exchange securities in time to profit by
the present high premium on Eve Twen-
/ ties. ...- JAY COOKE 81 Co
Philadelphia New York and Washington.