Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1872-09-02
ALEXANDRIA MONDAY EVENING" SEPTEMBER 1872.
.. .. FI.F.AyrCEAL. ...
LAND GRANT RAILROAD BONDS.
THE BEST SECURITY IN THE WORLD.

| L
| Among the multitudnous securities which ar
pressed on the attention of the capitalist, nom
| offer such tangible and reliable certainty as th
carefully-seected bonds Of bona ide Railroad
Companies, holding Land Grants from the Uni
| ted States Government
In addition to the advantages, which an ordi
nary First Mortgage Bond Of u successful rail
j road presents to the Investor, by its frst-cla
security and its ready convertibility at any time
into cash, Land Grant Railroad Bond offers
the nearest possible approach to absolute securi-
peted aud equipped road, but by the additional
pledge of lands, at least equal in value to the
amount of the bonds issued.
The effect of this is, to place the bonds in the
hands Of shrewd capitalists-1nen who look to
security above everything, and of this no great
evidence is necessary, than the of the IL
| lnos 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 debt, con-
verting that State from barren waste into one
of the most fourshing States in the Union, and,
at the same time placing the securities of that
Company among the most favorite on the Mar
kets of the World.
Many Of the companies whose roads are now
in course of construction, own land grants on a
small scale, but there are about q dozen Com
panies holding lands to a very large extent
and Denver City Railaoad Company, to which
association belong l,7U,OW acres Of the finest
lands in Kansas and Nebraska.
This road is located in Missouri, Nebraska and
Kansas, the progress Of the two former which
States, is too well known to require further allu-
sion thereto.
Kansas, which is the nearest and most prom
ising State beyond the Missouri border is rapid
ly filling up with hardy agricultural settlers,
and there is every Indication, that it will soon
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 springng up in
every direction, the lands surrounding them be-
ing quickly purchased and occupied by Farmers
and Stock-raisers. The climate of Kansas is
mild and agreeable; the winters arc short and
snow seldom falls to any considerable Depth
the soil is adapted to the cereals and all the
fruits and vegetables of the Eastern States; hemp
and sorghum are common crops, and cotton has
been raised in South Kansas. Eastern Kansas
presents succession of rich prairies, fertile val
lcys, grass covered hills with an abundance of
yellow 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
ite, gypsum and coal. The entire area is 81
GOO, 900 acres. or enough to make eleven States
of the size of Massachusetts.
From this, it is evident that the st. Joseph and
Denver City Railroad Company has even bet
ter prospect, than the Illinois Central r. +.
Company ever had, as not only by its construc
ton it becomes the Middle Route from the At
lantic to the Pacific Ocean, but, by its cutoff
lie from st. Joseph to Fort Kearney, it secures
from the start, all the passenger and freight
traffic that it can move, furnishing thereby, ire
spective Of the Land Grant, undenabe security
to the bondholder. When to this, is added the
fact that the other Land Grant Railroad Com
panes have sold their lands at all sorts of prices
fman fnHa Of ols4Ht Of sSl4 qer acre down to min
this Company should realize only 81 per acre
the profits of their traffic, their l,7W,0U acres
will produce at least Sl,500OOO above their
which is only So 5OOOOO
The road, which is being most substantially
and thoroughly built and is being rapidly hur-
ried to completion, will at once, form Inc most
the United States 1t will shorten the time and
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 or any part OF the country lying
south or southwest of that rapldiy-groWlng city:
on its completion, it is destined to
receive large share of the business gong East
or West, beyond the Missouri River. and It's
managers have shown wise foresight, IN equip |
ping the line with an abundance OF rolling STOCK
of all kinds, to meet the demand thaI Is sure W
arise.
That the great advantages of this road have
been appreciated by capitalists, is shown by the
rapidty with which its bonds have been taken
up. Only limited amount of them remain un-
sold and are looked on, as an investment OF the
highest order. The moneys received from the
sale of lands, form q sinking fund for the ro-
long before they fall due, the sale of the lands
Wilt accumulate sufficient funds to meet them
without trenching in any way upon the business
of the road
The interests of the bondnolder have, been
guarded in every shape and way. The bonds
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 Eight per CT.
ner annum, payable in Gold semi annually,
free Of tax, on the 18th days OF Feb and ALL
gust, in New York.. London, or Franktort-on-
Main, at the option of the holder without notice,
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 the sur
render of the Coupons, and the interest PAID TO
the registered owner at any OF the three points
where the Coupons are payable.
The management of this enterprise IS IN the
hands of thorough practical men, and the ri,
naucal Agents arc the well-known, experienced
banking firm of Tanner s. Co., II Wall Street.
New York.
Altogether it is believed that no loan was ever
offered in this market which combines every ell
ement of security with such high rate OF in
terest and it is certain that Capitalists do not
often have the opportunity of placing their mon
cy, for so long time on security, producing
more than eight per cent. interest III
gold. o,oo
These bonds arc of the denomination Of SlOO,
500 and $1,000, and are tor sale at 913 and ac-
crued interest, in currency.
The agents for their sale in this city are Messrs.
w. ID. CORSE Il CO..
who confidently recommend them as frst,clas5
security. and who have already placed large
number in the hands of somo of our most pru-
dent and sagacious citizens. aug TT
VIJILLIA NJ Ii. B + G h,