Wilmington daily commercial., 1872-01-12

HARVEY FISK. A. s. HATCH.
FISK g. HATCH,
BANKERS,
and Dealers in Government Securities,
No. 3, Nassau Street,
Eew York, NoU 20, 1871.
The successful and rapid negotiation Of nearly
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 trafc. have placed the financial affairs and
resources OF the Company upon such basis, that
directed 10 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 William Street, New York,
November is, 1871.
Bankers ana Financial Agents G. d r. r. Co.:
Gentlemen:
The Western Division Of the Chesapeake and
Ohio Railroad, comprising the 95 miles between
moSt Of New Ryer S st he Fss o RanSuba
is now substantially completed, and will in few
days be ready to do the immense coal and other bus
ness that Is awaiting It's 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 1902 miles, between the mouth
Of New River and White Sulphur Springs, is COM
plete, and the work on the remaining VI miles is 50
far advanced that track-laying will be commenced
on this portion of the road In May next, and con-
tinue without interruption until the whole line is
In view Of these facts you are hereby directed to
make no further sales Of the Bonds Of said Company
at less price than ~ and accrued interest," at which
price you Will continue TO sell until further orders
Very respectfully yours,
G. r. HUNTINGTON, President.
In compliance with the foregoing instructions, the
price Of the Bonds from this date until further or
ders, will be 81 and accrued interest.
The scarcity of, and demand for, really
Desirable 6 per cent. Gold Bonds,
for solid and permanent Investments is evinced by
the facts that
Five-Twenty Bonds OF 1867 are selling at. 115
Central Pacific Bonds are selling at....... 1903
Chesapeake 81 Ohio Bonds are selling at. S4
These bonds all pay both principal and interest in
New York City, In U. 3. gold coin, and are equally
The reason why FrvB-TwENTY BONDS are SO high
Is because no more can be issued and the outstand
ing amount is being rapidiy decreased by purchases
by the Government from their surplus revenues.
The reason why we think CENTRAL PACIFIC BONDS
will in time advance to the price of FlveTwenties
is because no more 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 30 low, comparatively, while equally safe is
because the Company are selling Bonds to complete
the road. They will all he sold In short time and
| In few months the road will be finished, when We
have no doubt the same result will follow as with
FIvK-TwENTY and CENTRAL PACIFIC Bonds The
Sinking Fund of the Chesapeake and Ohio must 20
into effect within one year after the completion OF
| the road
The Chesapeake 6k Ohio Bonds are issued
either coupon or registered-the denominations are
| as follows:
800, which cost today ............ sA1s
| "A
$1,000, ..........., 948.12
Orders for Chesapeake and Ohio Bonds, may be
sent through any National Bank or Banker; or &C.
| companed with Drafts or Checks may be forwarded
TO us by mail. Bonds or money may be forwarded
by any responsible Express Company ut our expense
| and the Chesapeake and Ohio Bonds, I'm exchange
will he sent by return Express, charges paid
We buy and sell Government and CENTRAL PAcI
FIC BONDS, and receive them In exchange for Chesa
| peake and Ohio Bonds.
/ Accounts Of Banks Bankers and others received
on t0hich zoe dltoi1 interest at e rate Of four per cent
/ per dnnuns.
nova eod2md&w Financial Agents.