Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1872-01-26

is from Local business, and, It Is stated,
fully 80 per cent, or nearly Nine and a
Half Millions, are net over operating ex-
penses.
An equal traffic on the Northern Pacific
Road viii pay dividend OF more than
O1S per cent on its total cost. With Its
great and unquestioned advantages is dis
tance, grades, climate and tributary fer
tile country, the Northern Pacific is
assured of a vast and profitable business
from the outset, with large increase for
the future.
The Value of Ldnd Grdnts.-The average
price ut which the twenty-six leading
Land grant Railroads have thus far sold
their lands Is $704 per acre-the highest
average of any grant being S1398, and
the lowest $3.07. With few exceptions,
the aUeidGe selling price has steddily Increased
from gear to gear. The lands of the North
ern Pacific Road are admitted, by all who
have seen them, to be better and more
salable than those of most other grants,
but, sold at the general average of $704
per acre, they will yield more than $161, :
600 per mile of road-moro than three
| times the possible cost of construction and
equipment or at the lowest average
of any grant ($3.00, they will produce
regarding Pacific Railroad earnings, and
! the market value of Railroad Lands, as
shown by actual sales to settlers, show
the three-fold security of Northern Paci-
fic Railroad Bonds
| Construction. The road is now com
| pletod across Minnesota, (255 niles work
is progressing westward through Dakota,
and 65 miles are under construction on
the Pacific coast. Including purchased
lines, the Northern Pacific Company now
has under its management 575 miles of
| finished track. Contracts are let for the
construction of 635 miles more, to be
finished before the close of 1872.
The 7.30 COLD Bonds The first mort.
gage bonds of this company, 1ctich, ate,
! fuW investigation, aee strongly recommend az
q reliable and unusually profitable Unrest
meat, ana oohtch noio stand among ne S0Jid
and .tdU0yite securities of tie country, have
the following leading features
1. They are exempt from United States
tax the Principal and Interest are paya
BILE in gold-the principal in thirty years
and the interest semi-annually at the rate
of $40 per cent per annum. Denomi
nations, from 800 to $4,000. Present
selling price-par and accrued interest il
currency.
2. The bonds are first and only Mort
gage on the Road, its Equipments ant
Earnings, and also on a Land Gran
which, on the completion of the Road
will average $4,000 acres to each mile o.
track.
3. They are at all times receivable at II
per cent. premium Q.10, in payment ol
exchange for the Company's Land a
market prices-a provision which practi
cally gives the holder the power of fore
closure at will.
4. The proceeds of all sales of Land ar,
quired to be devoted by the Trustees o
the bondholders (Messrs. Jay Cooke anC
j. Edgar Thomson), as a Sinking Fund t
the purchase and cancellation of the first
mortgage bonds, or temporarily to tn,
payment of interest thereon if necess ry
Exchanging 5-20s-In view fsthe abilt,
and fixed policy of the Government t
call in its 5-20s and substitute low-inter
est bond-$140,0 900, 900 having been calleC
in for cancellation since September 1st-
many holders of 5-20s are exchanging then
for Northern Pacifics, thus adding TO thei
principal the present premium on Govern
ment Bonds, and increasing their yearly
interest income nearly one-third.
All marketable stocks and bonds will b,
received at current prices in exchange TO
Northern Pacific Seven-Thirties withou
expense to the investors.
JAY COOKE & Co.,
Philadelphia, New York and Washington, Finan
cal Agents Northern Pacific Raiload
For sale by Banks and Bankers generally