The Superior times. [volume] (Superior, Wis.) 1870-1912, 1872-02-03
The SAFE Investment of Money.

The pending negotiations between Messrs.
] Jay Cooke q Co. and the Rothschilds on the
one hand, and the United States government
Oh the other, which negotiations promise to
result in funding the whole of our national
! debt at 4, 4 & and 5 per cent. interest-with a
| saving to our taxpayers of at least twenty-five
million dollars year-add new prestige to the
eminent American bankers above named, and
| give increased importance to their opinions of
various investment securities. In a financial
circular just Issued, Messrs. Jay Cooke d Co.,
state the following facts about favorite rail
road security nowson the market:
BANKING HOUSE OF JAY CooKE q Co.,
Philadelphia, January, 1872
The Northern Pacific Railroad Company
! offers to the public an Investment security
which combines the ready negotiabilIty, the
convenience, and the high credit of first
class Railroad Bond, with the solidity and safety
of Real Estate Mortgage on Land worth at
| least twice the amount loaned
| TRAFFIC.-As officially reported, the gross
earnings of the present Pacific Railroad (Union
! and CentraD for 1871. the second year of
| through business December earnings esti-
mated) reach seventeen millions and a az lrter.
! Of this, 65 per cent. Is from local business,
and, it is statad. fully SIS per cent, or nearly
nine and half millions, are net over operating
expenses.
Road will pay dividend of more than 90 per
cent on it's total cost. With its great and
unquestioned advantages IN distance, grades,
| climate, and tributary fertile country. the
/ Northern Pacific is assured of vast and
profitable business from the outset, with a
! large increass for the future.
The VALUE OF LAND GRAETS.-The average
/ price at which the twenty six leading land
| grant railroads have thus far sold their lands
is 81 .0i per acref-the highest average of any
grant being S13.9S, and the lowest 1907. With
| few exceptions. the acreage selling price has
afon Ian IN Hhn
lands of the Northern Pacific Road are
| admitted, by all who have seen them, to be
| better and more saleable than those of most
other grants, but sold at the general average
of S7.04 per acre, they Will yield more than
| $161. 900 per mile of road, more than three
times the possible cost of construction and
equipment, or, at the lowest average of any
grant (S3.07), they will produce more than
| so. 900 per mile These facts regarding Pa
! cific Railroad earnings, and the market value
| of railroad lands. as shown by actual sales to
settlers, show the three-fold security of
Northern Pacific Railroad Bonds.
CONSTRUCTION The road is now completed
| aero Is Minnesota (255 miles,; work Is pro
| crossing westward through Dakota, and IS
miles are under construction on the Pacific
coast. Including purchased lines, the North
| ern Pacific Company now has under its man
| agement 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 GOLD BoNDs.-The first mortgage
! bonds of this company, achsch, after tuH an
yeStigdtjoR, are strongly recommend as reliable
and unusually profitable Investment, and aohcl,
none stand among the Solid and faporue secnri
ties ofHe country, have the following leading
features:
! L. They are exempt from United States tax
the principal and interest are payable in gold,
| the principal In thirty years, and the interest
semi annually at the rate of $40 per cent.
per annum. Denominations, from 500 to
! SO, 900. Present selling price, par and &C
| crued interest in currency.
| The bonds first and only mortgage
on the road, it's equipments and earnings, and
also on a land grant, which, on the completion
of the road will average 20 600 acres to each
mile of track.
J. They are at all times receivable at 10 pei
cent. premium q 100, III payment or exchange
for the Compauys land ut market prices
provision which practically gives the holder
the power of foreclosure at viii.
! t. The proceeds of all sales of land are re
quired to be devoted by the trustees of the
hondholders (Messrs Jay Cooke and j. Edgar
Thomson) as a sinking fund to the purchase
and cancellation of the first mortgage bonds
or temporarily to the payment of interes
| thereon If necessary,
and fixed policy of the Government to call IL
the Z0s and substitute a low-lnterest bond
$40 0G0 900 having been called III for cancel
lation since September many holders 0
5-20s are exchanging them for Northern Pa
cities. thus adding to their principal the pres
ent premium on Government Bonds, an
increasing then yearly interest incom nearl
|. one third.
All marketable stocks and bonds will b
, received at current prices IN exchange TO
Northern Pacific Seyen-ThlrtIes without ex
pense to the investor