Wilmington daily commercial., 1872-01-03

HARvEY FISK. A. s. HATcH
FISK g. HATCH,
BANKERS,
and Dealers in Government Securities,
No. 3, Nassau Street,
Ne,o York, NoU 20, 1871.
The successful and rapid negotiation Of nearly
three-fourths of the FIFTEEN MILLION LOAN
or THE CHESAPEAKE AND OHIO RAIL
ROAD COMPANY, and the energetic prosecution
OF the work OF extension and preparation OF the
Road for an extensive mineral AGRICULTURAL and
through tralc, have placed the financial affairs and
resources OF the Company upon such basis, that
we are directed to advance the price for future sales
OF the Bonds explained in the folio wing letter OF
Mr. Huntington, President of the Company:
ONCE Chesapeake and Ohio Railroad Company,
81 Miam Street, New York,
November is, 1871.
Messrs FISK h HATCH,
Bankers and Financial Agents c. Il R. r. Co.:
Gentlemen:
The Western Division Of the Chesapeake and
Ohio Railroad, comprising the 95 miles between
between huntington, on the Ohio River, and the
mouth OF New River (ab0ve the Falls Of KanaWha),
is now substantially completed, and will in few
days be ready to do the immense coal and other bus
lness that Is awaiting Its completion. The Eastern
Division, comprising 22T miles, between White Sui
phur Springs and Richmond, Is now in complete or
der and successful operation. The grading and ma.
sonry on eleven OF the l02 miles, between the mouth
of New River and White Sulphur Springs is COM
pete, and the work the remaining 81 miles is so
lar advanced that track-aying will be commenced
on this portion OF the road in May next, and CON
tinne without interruption until the whole line is
completed.
In view OF these facts you are hereby directed TO
make no further sales OF the Bonds Of said Company
at less price than 81 and accrued interest," at which
price you will continue TO sell until further orders.
Very respectfully yours,
G. p. HUNTINGTON, President.
In compliance with the foregoing instructions, the
price OF the Bonds from this date, until further
ders, Will be 81 and accrued interest.
The scarcity Of, and demand for, really
Desirable q per cent. Gold Bonds,
for solid and permanent investments, is evnced by
the facts that
Five-Twenty Bonds of 1867 are selling at. 1I5
Central Pacific Bonds are selling at. IU3
Chesapeake a. Ohio Bonds are selling at. "a
These bonds all pay both principal and interest in
New YORK City, In U. .. gold coin, and are equally
safe for investment
The reason why FIvE-TwEsTY BONDS are so high
Is because no more can be issued and the outstand-
ing amount Is being rapidly decreased by purchases
by the Government from their surplus revenues
The reason why we think CRHTRAL PACIFIC BONDS
will in time advance to the price of Fiye-Twenties
is because no more can be issued; while the opera
ton OF their Sinking Fund will soon commence to
decrease the amount.
The reason why CHESAPEAKE AND OHIO BONDS
selling so low comparatively, while equally safe, is
because the Company are selling Bonds to complete
the road They Will all be sold In a short time, and
in few months the road will be finished, when we
have no doubt the same result Will follow as with
FIvR-TwENTY and CENTRAL PACIFIC Bonds. The
Sinking Fund of the Chesapeake and Ohio must go
into effect within one year after the completion Of
the road.
The Chesapeake d Ohio Bonds are Issued
either coupon or registered-the denominations are
as follows;
800, which cost today ............ s941s
$1,000 :. 943l2
Orders for Chesapeake and Ohio Bonds, may be
sent through any National Bank Banker; or ac-
companied with Drafts or Checks, may he forwarded
| to us by mail. Bonds or money may be forwarded
by any responsible Express Company at our expense
and the Chesapeake and Ohio Bonds, in exchange,
| will be sent by return Express, charges paid.
We buy and sell Government and CENTRAL PACT
FIc BONDS and receive them in exchange for Chesa-
| peake and Ohio Bonds.
Accounts of Banks, Bankers and others received
on Wich zoe Gloto interest at the rate Of four per cent
| per Gnnttln.
FISK HATCH.
nova eod2md&w Finansial Agents.