Frostburg mining journal. [volume] (Frostburg, Md.) 1871-1913, 1872-02-10
The Safe Investment of Money.

The pending negotiations between Messrs.
Jay Cooke & Co. and the Rothschilds on the
one hand, and the United States government
on the other, which negotiations promise to
result in funding the whole of our national
debt at 4, Al, and per cent. interest-with
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 securl-
ties. In n financial circular just issued,
Messrs Jay Cooke & Co. state the following
facts about favorite railroad security now
on the market:
BANKING HOUSE OF JAY Cooke & Co.,
Philadelphia, January, 1872.
The Northern Pacific Railroad Company
offers to the public an investment security
which combines the ready negotiabillty, the
convenience, and the high credit of a first
class Railroad Bond, with the solidity and
safety of a Real Estate Mortgage on Land
worth at least twice the amount loaned.
TRAFFIc.-As officially reported, the gross
earnings of the present Pacific Railroads
(union and CentraD for 1871, the second
year of through business December earn
ings estimated), reach seventeen millions
and a quarter. Of this, IS per cent. is from
local business, and, it is stated, fully So per
cent, or nearly nine and a half millions,
are net over operating expenses.
An equal traffic on the Northern Pacific
Road will pay dividend of more than 81
per cent. on its total cost. With its great and
nnouestioned advantages in distance grades
climate and tributary f,rt;Ie country tho
Northern Pacific is assured of n vast and
profitable business from the outset. with a
large increase for the future.
The VALUE OF LAND GRANTs.-The average
price at which the twenty-six leading land
grant railroads have thus far sold their lands
| IS 81 .O4 per acre-the highest average of any
! GRANT heinz Sl3QS and the lowest So OF
| With few eYceptions. the aperage selling price
| has stendilv increased from near to year. The
lands of the Northern Pacific Road are ad-
| mitted by all who have seen them, to be
better and more saleable than those of most
other grants. hut. sold at the general average
of 81 o. per acre, they will Weld more than
| Sl6l 900 per mile of road-more than three
times the possible cost of construction and
CONTINENT, OF, at the lowest average of any
grant (S3.O7l, they will produce more than
| $40 900 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
CoSsTRucr1oN.-The road is now completed
across Minnesota (255 miles) work is pro-
crossing westward through Dakota; and 65
miles are under construction on the Pacific
coast. including purchased INES, the NOftn-
ern Pacific Company now has under its
management SIS miles of finished track
| Contracts are let for the construction of 63i
miles more, to be finished before the close o
1872.
The 80 GOLD BoNDs.-The first mortgage
bonds of this company, uhich, after full IN
pestiqation,ace strongly recommend as a rcliabl
and ~nusuaUy profitable Investment, and phicl
noy stand among the solid and fauorite securi
=, r.lI i
features:
l. Thew are exempt from United State
tax the principal and interest are payabl
in cold. the principal in thirty wears, ant
the interest semi-annually at the rate o
10 per cent. per anpum. Denominations