The Conservative. (M'connelsville, Ohio) 1866-1871, 1871-03-17
JAY COOKE 4 co.

JAY COOKE 4 CO.,
Offer for sale at par and accrued in.
tsrest the First Mortgage Land
Grant Gold Bonds OF the Northern
Pacific Railroad Company. They
are free from United States Tax,
and ire ISSUED of the following de-
nominations Coupons 800, $500,
and $1,000 Registered 500, $500,
$1,000. $4,000 and SO 900.
With the same entire confidence
with which We commended Govern
ment bonds TO capitalists and peo-
pie, we now, after the fullest inves-
legation, recommend these North-
ern Pacific Railroad bonds to our
friends and the general public.
Gold Payment.-Both principal
and interest Ire payable IN Amerl-
can gold coin, at the Office of Jay
Cooke 4 Co., New York City-ths
principal at the end of 30,Years, and
the interest Cat the rate Of seven
and three-tenths per cent. per an
NUM- half-yearly, first Of January
ard July.
Perfect Safety.-The bonds we
are now selling are secured by a LIST
and only mortgage on all the prof.
erry and rights ofthe Northern Pa
cifc Railroad Company, which will
embrace on the completion of the
work ;
/. Over Two Thousand Miles of
Road, with rolling stock, buildings,
and all other equipments.
2. Over Twenty-Five Thousand a.
cres Of land to every mile of finish
ed rood. This land, agricultural,
timbered and mineral, amounting
in all to more than fifty million a
ores, consists of alternate sections,
reaching twenty to forty miles on
each side of the track, and extend
ing in o broad fertile belt from
Wisconsin through tie richest por-
lions of Minnesota, Dakota, Mont>
ana, Idsho, Oregon and Washing-
ton, to Puget Sound.
While the Governments does not
directly guarantee the bonds of the
Road, it thus amply provides for
their full and prompt payment by
an u~nreserved grant Of land, the
most valuable over conferred upon
a great national Improvement.
The Mortgage.-The Trustees IN
der the Mortgage, are Messrs. Jay
Cooke, of Phila., and ]. E. Thomp-
son, President of the Psnna. Cent
raj Railroad Company: They will
directly and permanently repre-
sent the interests Of the First Mort
gage bond holders, and are requIr-
ed to see that the proceeds Of land
sales are used in purchasing and
canceling the bonds of the Compa-
ny if they can be bought before
maturity at not more than ten per
cent premium otherwise the Trus-
tees are to invest the proceeds Of
land sales in United States Bonds
or Real Estate Mortgages for the
further security Of Northern Pael.
&c bondholders. Also tat they
have at all times In their control
as security, at least 500 acres of av.
erage land to every $1,000 Of out.
standing first mortgage bonds, be-
sides the railroad itself ard all iti
equipments and franchises.
Proftabiene.s.-0f course nothing can b,
safer thar the bonds of the United States
but as the Government is no longer Q Dor
rover, and as the Nations present. work i
not that of preserving its existence. bu'
that of developing q continent, we remin<
those who desire to increase their ineonn.
and obtain q more permanent investment
while still having a perfectly reliable sesu-
r.ty, thst:
United States 5-2e's at their average pro
MUM yield the present purohassf les
than 81 per cent. gold interest. Shoui.
they be redeemedin Ave years, and speci'
payments be resumed, they would really
pay only AZ per cent, or if in three years
only 3K per cent, as the present premium
would meanwhile be sunk.
Northern Pacific T-so's selling at par Il
currency yield the investor 7 3-1o per cent
gold interest absolutely for thirty years
4 = v ~ 0N8NOo to4a EAlAoN -
reney invested now in United States $40
will yield per year in gold, say $1,000
81 ,fee currency invested now in Northern
Pacific 7-30's viii yield per year in gold
5000. Here Is difference in annual in
come Of nearly one-third, besides q differ
ence of to 10 per tent. in principal, whel
both classes ofbonds are redeemed.
The Road Now BuIlding.-Work was be
gun in July lzston the eastern portion Q
the line, and the money provided by tn
sale to stockholders Of some six Ailliens 0
the Company's bonds, to build and equiI
the road and Lake Superior across MINES
sofa 70 The Red River ofthe North 2ss mile
The grazing on this division is now wei
advanced, the iron is being rapidly laid
several Thousand men at work on the line
and about the first Of August next this I'm
tportant section of the road will be in ful
operation. In the meantime orders hav
been sent TO the Pacific coast for the com
mencement ofthe work on the western en-
in early spring, and thereafter the worl
will be pushed, both eastward and west
ward, with as much speed az may be cor
sistent with solidity ands wise economy.
Receivable For Lands.-These bonds vii
be at all times, before maturity, receivable
ct lao, in payment for the Company's Ian
at their lowest cash price.
Bonds Exchangeable.- The registere
bonds can be exchanged at any time 70
coupons, the coupons for registered, an
both these can be exchanged fer otherI
payable, principal and interest, ct any Q
the principal financial centres of Europe
in the coin of the various European coun
tries.
How To Get Them.-Your nearest ban,
or banker will supply these bonds in an.
desired amount, Of any needed denomina
tion. Persons wishing to exchange stock
or other bonds for these, can do 50 with an
Of our agents, who WIFI sllow the hughes
current price for all marketable securities
i Those living in localities remote fror
banks, may send money or other bondI
directly 10 US by express ard we viii sen
back Northern Pacific bonds Is eur ow
risk ard without cost to the investor. Fs
further information, pamphlets, maps, stc
call on or address the undersigned, or an
Of the Banks Bankers employed 70 sell thi
loan. For sale by the following Geners
Agents Of the Pittsburgh District:
James =. Brady & Co.;
Hart, CoSghy 4 Co.;
Western Savings Bank;
s. Mclean 4 Co.;
We have accepted an agency forthe sal
of the above Bonds. Phamplsts and infor
nation can be had atour counter.
Deyol, Merriam 4 Co., First Nation