New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-09-01
TIE VALUE OF LAND GRANTS
A. S. HATCH.

Sinking Fund Land Grant Bonds Of the ST. Joseph and
Denrer City Railroad Company to the public we would
respectfully call their attention to few facts in
gard to the value of Land Grants, especially where
the lands granted located in fertile section of
country. The Illinois Central Railroad Company
was the first to receive Government aid in the
shape Of Lands, and in 1850 received grant Of
2,595,OOO acres Of these lands the Company have
sold 800 acres, and realized for the same & 9O0
S89. The remaining 415G10 ceres are now selling at
an average of $12 SO per acre, equal to s. 9O5.
This would make the total value of the Illinois Cen
trail Land grant equal to thirty million one hundred
and ffv-sr thousand seren hundred and eighty-eigh
dollars 1890 1856 1885, largely in of their bonded
debt This Land Grant is located in prairie country,
and at the time the grant made the land was
sidercd 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, so
far their formation is concerned are not IN the least
inferior TO those of the Illinois Central Company uhile
their fertility and ddapdbty for farming and other pn-
poses equal i not superior to any lands In the Vest
prn country. The line of the st. Joseph and Denver
City Land Grant comprises old and favoIite route
for wage" travel before the road projected. AS
natural consequence, the country ia well populated,
at many points thickly 80, and the land cultivated
and developed. The ST. Joseph and Denver City
Company therefore has the advantage of populated
and cultivated country, with an established high
price for its lands In other words, the st. Joseph
and Denver City Railroad Company will
realize at once the same benefits and
profit from Its land grant which would be
realized from Companies owning lands in older
States. At the present price of the Illinois Central
Company Lands 1912 5Uaper acrel those of the st.
Joseph and Denver City Company would realize
total Of SIS $4,000; and if We take into con-
sideration the future growth Of the Western
Country, and the natural attractions which these
lands offer, then, indeed, the amount eventu-
ally realized must largely exceed this sum.
Yet these Bonds, which we are now offer
ing are backed by such security as this, to
say nothing of their being a first mortgage on
trunk line which shortens tho distance between the
Atlantic and Pacific 232 miles, which must naturally
have large traffic. and will eventually take rank
with the highest-p priced railroad bonds the New
York Stock Exchange. The liberal daily sub
scriptions to this loan are steadily decreasing the
amount unsold, and while they are offered
for the present at 97l and accrued in
terest, the right is reserved to advance
the price at any time without notice. The large
amount of $50 Bonds which the Government is able
to pay off by the recent negotiations Of S2OOOOOOO0
per cent Bonds must stimulate largely the invest
ST. Joseph and Denver City Railroad Company in
the immediate future In view of this and also the
fact that it is rarely bond is offered to investors
which combines all the requisites of large income
and the most perfect safety and future profit, i'll
vestors desiring to participate i'll the division Of the
remainder of this loan will best promote their inter
est by acting promptly, as the total amount OF the
issue was only S5500000, for the payment Of which this
enormous property Is specifically pledged. The Bonds
are in denominations Of $1,000, $500, and 500, and
are receivable at par and accrued interest in pay
mcnt for the Company's land sales. Circulars, maps
and documents relating to the Loan, furnished on
application Though acting as agents for the sale OF
this loan, our firm buy and sell, in their regular
business the Bonds of the st. Joseph and Denver
City Railroad Company, those of the Eastern
Division being now quoted at 1O2 and accrued
interest These were originally placed by us at OH
TANNER & Co., Bankers, No. IL Wall-st.