Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1872-03-19
THE VALUE OF LAND GRANTS.


The average price at which twenty. six land grant
railroads have thus far sold their lands Is 81 0i per
acre-the highest average ofany grant being sl3as,
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 saleabe than those ofmost other grants;
but sold at the general average of S7oi per acre,
they will yield more than SlGl coo per mile of road
more than three times the possible cost of con-
structon and equipment; or, at the lowest average
of any grant SOD, they will produce more than
$4,000 per mile, which is $40 90 per mile more than
the company allowed to issue bonds.
TRAFFIC ON PACIFIC RAILROADS.
As officially reported, the gross earnings of the
present Pacific Railroad Union and CentraD for
ISL, the second year of through business (Deeem.
Der earnings estimated), reach Seventeen Millions
and Quarter. Ofthis Go per cent. is from Local
Business, and it is stated, fully 55 per cent. or
nearly Nine and a Half Millions are net over oper
ating expenses.
An equal traffic the Northern Pacific Road
will pay a dividend of more than ga per cent. on its
total cost. With its great and unquestioned al
vantases in distance, grades, climate, and tributar
fertile country the Northern Pacific is assured of
vast and profitable business from the outset with
large increase for the future.
These facts Regarding racine 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 80 miles. On the Pacific coast, 65 miles are un.
der construction, the greater part of which is COM
plcted,--incudng purchased lines, the Northern
Pacific Company now have nearly 600 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-TIIRTY
GOLD BOND AS ONE OF THE BEST AND
SAFEST SECURITIES NOW OFFERED
TO THE PUBLIC.
In this security are combiacd the high credit of
frstclass Railroad Bond, with the solidity and
safety of a Real Estate Mortgage ON Land worth
more than twice the amount loaned.
These Bonds are payable in l9O0-bear $40 per
cent interest in Gold, payable first of July and
January--are free OF U. S. Tax-are receivable at
10 per cent. premium for the Company's lands at
the Lowest Cash Price, and are issued in the fol.
lowing denominations: Coupon bonds, $780, $500
and 81 600; Registered bonds, 800 $500, $1,000,
5000 and $40, 900.
The proceeds of all sales of Land are required to
be devoted by the Trustees of the bondholders
(Aiessrs. jay Cooke and j. Edgar thompson, as q
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-sli0,000,-
900 having been called in for cancellation since
September lst-many holders of 520s are exchang-
ing them for Northern Paci1cs, 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 Seven Thrties without expense to the investor
For further particulars concerning this Bond, or
purchase of the same, apply to the undersigned.
B. E. Potter & Bro.
feb2l teod&wlm AUGUSTA ME