Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1872-08-27
FT.N.4-vCE4L.
r.Nn EssAxT RAILROAD BONDS.
THE BEST SECURITY IN THE WOkLD'

Among the multtudinous securities, when arc
nrnssed on the attention of the capitalist none
offer such tangible and reliable certainty rs lhS
carefully-selectcd bonds of bona hde kallroau 1
Companies. holding Land Grants from t''o o"'-
ted States Government. ):
In addition to tho advantages, which an ordl-
nary First Mortgage Bond of a successful rall.
road presents to the Investor, by It's hrst-class
security and its ready convertibility atany time,
into cash, u Land Grant Railroad Bond onecs
the nearest possible approach to absolute secur,-
ty, by its being represented not only, by com
pleted aud equipped road, but by the additenial
pledge of lands, ut least equal in value TO inc
amount of the bonds issued.
The effect of this is, to place the bonds IN inc
hands of shrewd capitalists who look to
security above everything, and of this no great
er evidence is necessary, than the case OF the IL
linois Central Railroad Company, by whose
owners the State of Illinois has in the course Of
a few years, not only been built up and popu-
lated but has also been freed from dept, con-
verting that State from a barren waste INTO one
of the most flourishing States in the Unlon, and,
at the same time, placing the securities OF that
Cotnpany among the most tavorlte on lhe Mar
kets of the World
Many Of the companies whose roads are now
in course of construction, own land grants on
small scale, but there are about dozen Com
panes holding lands to very large extent
prominent among which we note the st. Joseph
and Denver City Railaoad Company, to which
association belong 1,7D,O OW acres OF the nnest
lands in Kansas and Nebraska.
This road is located in Missouri, Nebraska ana
Kansas, the progress of the two former OF which
States, is too we'll known to require further allu-
sion thereto.
Kansas, which is the nearest and most prom
sing State beyond the Missouri border, is rapid
y filling up with hardy, agricultural settlers
possess one of the most productive populations
in the Union. Many colonies, both from the
East and Europe are locating in the State, and
thrifty and growing villages are springlng up IN
every direction, the lands surrounding them be-
ing quickly purchased and occupied by Farmers
and StocE-rasers The climate of Kansas Is
mild and agreeable; the winters, are short and
snow seldom falls to any considerable depth;
the soil IS adapted to the cereals ana all the
fruits and vegetables of the Eastern States; hemp
and sorghum arc common crops, ana cotI9il mas
been raised in South Kansas. Eastern Kansas
presents succession of rich pralrles, fer tile val
fevs grass ss-covcrcd hills with an abundance OF
yetloW oak, black Walnut, elm, hickory, syca-
more, Eastwood and other timber, along the
streams. The middle is more thinly wooded,
but the west has many extensive tracts OF forest,
the best requisites of the finest grazing country
The more important mineral products are gran
itc, gypsum and coal The entire area Is d.
100000 acres. or enough to make eleven States
of the size OF Massachusetts,.
From this it is evident that the st. Joseph ana
Denver City Railroad Company has even bet
ter prospect, than the Illinois Central Il. X.
Company ever had, rs not only By It's construc-
ton it becomes the Middle Route from the At
lantic to the Pacific Ocean, but, by It's cut-oH
lIe from St Joseph to Fort hearney, II secures,
from the start, all the passenger and freight
traffic that il can move furnishing thereby, IRE
spcctive Of the Land Grant, undcniaole security
to the bondhoder. When to this, is added the
fact, that the other Land Grant kailroaa C"in-
panics have sold their lands at all sorts of prices,
from maximum of Sl4 per acre down to a MN
imum OF 81. 1S per acre. it will be seen that II
this Company should realize only 81 per acre
for their lands, without taking INTO any account
the profits of their traffic Their N9u acres h
will produce ut least 81, ,3Oou uOO above lhcir
mortgage which is only S5, 5,5O0,UO.
The road which is being most substantially
and thoroughly built and is being rapidly hur-
ried to completion will at once form the most
important link in the great railroad 81 eni os
distance between San Francisco and the cities OF
the East, and is Of special Importance to the
traveller from the Pacific Slope, who desires TO
reach ST. Louis any part OF the country lying
south or southwest OF that rapldly-groWing city.
Immediately on its completion, it is destined to
receive large share of the business gong EAST
or West beyond the Missouri River, and Its
managers have shown wise foresight, IN equip
ping the line with an abundance OF rolling STOCK
of all kinds, to meet the demand thal Is sure 10
arise. ,.
That the great advantages of this road have
been appreciated by capitalists, is shown by the
rapidity with which its bonds have been taken
up Only limited amount OF them remain un-
sold and are looked on, rs an investment ol tne
highest order The moneys received from the
safe of lands, form sinking fund for the re-
demption of the bonds, and the prospect IS, that
long before they fall due, the sale OF the lands
will accumulate sufficient funds, to meet them
without trenching in any way upon the business
of the road.
guarded in every shape and way INC ponds
have thirty years to run from May, 1870 and
are payable IN gold in the City OF New York.
They bear interest at the rate OF EIgnI per CT.
Der annum, payable in Gold selnl-annuaiy,
free Of fax on the 18th days OF FEB. ana Au-
Main, at the option of the eholder, without notlcc'
and in the currency of the country in which the
Coupons are presented. Although these are
coupon bonds they may be registered IN the
owners name with the Coupons on, or they can
be converted into a registered bond by inc sur
render of the Coupons, and the interest palu 10
the registered owner at any of the three points
where the Coupons are payable
The management of this enterprise Is IN tne
hands of thorough practical men, ana tne +
nancial Agents are the Well-knoWn, experienced
banking firm of Tanner Co., ii Wall Street.
Now York.
Altogether it is believed that no loan was ever
offered in this market, which combines every ell
oment of security with such q high rate OF III.
terest and it is certain that Capitalists 40 no'
often have ave the opportunity of placing their mon l.
ey, for so long time security, producing
more than eight per cent. interest III
gold. ..;,. &c e1oo
$500 and 5000, and are tor sale at 9I4 and ac-
crued interest, in currency. ,,
The agents for their sale in this city are essrS'
w. ID. CORSE ~ CO.,
who confidently recommend them as q fiTst-class
security. and who have already placed a large
number in the hands of some of our most pru-
H"n4 ond s.g.c;ous citizens, aug 24-tf