Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1872-03-05

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 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, or which the said
Company may hereafter acquire. The Land
Grant of the Northern Pacific Railroad will average
over %, 900 acres to each mile of road This land
is capable ofproducing 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 81 04 per
acre-the highest average ofany grant being SIS %,
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 saleablc than those ofmost other grants
but sold at the general average of s7.o4 per acre,
they will yield more than $l6l 900 per mile of road
more tl.an three times the possible cost of con-
structon and equipment; or, at the lowest average
of any grant g 07), they will produce more than
so 900 per mile, which is $50 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 estimated), reach Seventeen Millions
and Quarter. OF this G5 per cent. is from Local
Business, and, it is stated, fully IS per cent or
nearly Nine and Half Millions are net over oper.
ating expenses.
An equal traffic the Northern Pacific Road
will pay dividend Of more than 81 per cent. its
total cost. With its great and unquestoned ad
vantages in distance, grades climate, and tributar
fertile country, the Northern Pacific assured of
vast and profitable business from the outset, with
large increase for the future.
These facts regarding Pacific Railroad earnings,
and the market value of Railroad Lands, as shown
by actual sales 10 settlers, show the unique STONED
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, 65 miles are I'M
der construction, the greater part of which is
peted,-incudng purchased lines, the Northern
Pacific Company now have nearly 800 miles of run
ming road. Contracts are let for the construction
of 635 miles more, to 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
first class Railroad Bond, with the sodty and
safety of Real Estate Mortgage on Land worth
more than twice the amount loaned.
These Bonds are payable in l9OO-bear $40 per
cent interest in Gold, payable first of July and
January-are free of U. s. Tax-are receivable at
Oper cent. premium for the Company's lands at
the Lowest Cash Price, and are issued in the fol.
lowing denominations Coupon bonds, 800, $500,
and 81, 600; Registered bonds, 800, $500, 81 900.
Is 900 and SIC, 900.
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
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
5-20s and substitute low.interest bond-sl4o, 0Oo
900 having been called in for cancellation since
September lst-many holders offs 20s are exchang.
ing them for Northern PaciAcs, thus adding to
their principal the present premium on Government
Bonds and increasing eirycarly interest income
nearly one-third.
All marketable stocks and bonds will be received
at current prices in exchange for Northern Pa
CHIC SevenThrties without expense to the inv estor
For further particulars concerning this Bond, or
purchase of the same, apply to the undersigned.
B. E. Potter & Bro,
febs+teod&wlm AUGUSTA, ME.