Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1872-02-24

Sold in the United states during the month OF
January.
These Bonds have sold, during the past
year, to an extent unequalled by those of any
other Corporation, and they have now taken
their place among the solid and favorite Sc
curities of the country.
This is because the Bonds are based upon the
amplest security, being a FIRST AND ONLY
MORTGAGE upon the railroad, franchises, and
all the lands and property, and rights Of property,
real and personal, now in possession by the North
ern Pacific Railroad Company FOR which the said
Company may hereafter acquire" The Land
Grant of the Northern Pacific Railroad will average
over % 600 acres to each mile of road. This land
is capable producing in abundance all the Fruits
Vegetables and cereals of the Eastern or Middle
States.
THE VALUE OF LAND GRANTS.
The average price at which twenty six land grant
railroads have thus far sold their lands is $40 per
acre-the highest average ofany grant being 81 9s
and the lowest 1907. With few exceptions, the
average selling price has increased forom year to
year The lands of the Northern Pacific Road are
admitted, by all who have seen them, to be better
and more saleable than those ofmost other grants ;
but sold at the general average of s7.oi per acre
they will yield more than sl6 900 per mile of road
more than three times the possible cost of con-
structon and equipment or, at the lowest average
of any grant 6 Oh, they will produce more than
so 0oo per mile, which is $40 90 per mile more than
the company are allowed to Issue bonds.
TRAFFIC on PACIFIC RAILROADS.
AS officially reported, the gross earnings of the
present Pacific Railroad Union and CentraD for
1871, the second year of through business (Deeem-
Der earnings estmated), reach Seventeen Millions
md q ia frnr I ncal
Business, and, it is stated fully So per cent or
nearly Nine and Half Millions, are net over oper.
atng expenses.
An equal traffic on the Northern Pacific Road
will pay "A dividend of more than y per cent on its
total cost With its great and unquestioned adj
yantaEes in distance, grades climate and tributary
fertile country the Northern Pacific assured of
vast and profitable business from the outset, with
a large increase for the future.
These facts regarding Pacific Railroad earnings
and the market value of Railroad Lands, as shown
by actual sales to settlers, show the unquestioned
security of Northern Pacific Railroad Bonds.
CONSTRUCTION OF THE ROAD.
The road is completed to the eastern boundary
of Dakota, the Red River of the North, distance
of 255 miles On the Pacific coast 6j miles are IN
der construction the greater part of which is com
pleted,-ncluding purchased lines the Northern
Pacific Company now have nearly GOO miles OF run
ming road, Contracts-are let for the construction
of G35 miles more be finished before the close OF
1872.
WE WOULD RECOMMEND THE
NORTHERN PACIFIC SEVEN-THIRTY
GOLD BOND As ONE OF THE BEST AND
SAFEST SECURITIES NOW OFFERED
TO THE PUBLIC.
In this security are combined the high credit OF
G.,-t al Do;l
safety offs Real Estate Mortgage on Land worth
more than twice the amount loaned.
These Bonds are payable in I900-bear $40 per
cent. interest in Gold, payable first of July and
January-are free of L. s. Tax-are receivable at
10 per cent. premium for the Companys lands at
the Lowest Cash Price, and are issued in the fol-
lowing denominations Coupon bonds, 500, $500,
and 81 900; Registered bonds, 900, $500, 81 900,
s. 900 and $40 600.
The proceeds Of all sales of Land are required to
be devoted by the Trustees of the bondholders
(Messrs. Jay Cooke and J. Edgar Thompson) as a
Sinking Fund to the purchase and cancellation OF
the first mortgage bonds.
EXCHANGING 52-Os. In view of the ability
and fixed policy Of the Government to call in its
52Os and substitute low-interest bond-sl40 0OO-
900 having been called in for cancellation since
September lst-many holders Of 5-20s are exchang.
ing them for Northern Pacihcs, thus adding to
their principal the present premium on Government
Bonds, and increasing their yearly interest income
nearly one-third
All marketable stocks and bonds will be received
at current prices in exchange for Northern Pa
cifc SevenThirtes without expense to the investor
For further particulars concerning this Bond, or
purchase of the same, apply to the undersigned
B. E. Potter & Bro,
b2l-teod&Wlm AUGUSTA, ME.