Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1872-09-07

LAND GRANT RAILROAD BONDS.
THE BEST SECURITY IN THE WORLD.


pressed on the attention OF the capitalist, none
offer such tangible and reliable certainty rs inc
carefully selected bonds of bona Tide RAILROAD
Companies. holding Land Grants from the Uni
ted States Government.
In addition to the advantages, which an ordI-
nary First Mortgage Bond Of a successful rail-
road presents to the Investor, BY It's hrst.ciass
security and its ready convertibility at any time,
into cash, Land Grant Railroad Bond offers
the nearest possible approach to absolute securl-
ty by its being represented not oniy, ~ Gn
pledge of lands, at least equal in value to the
amount of the bonds issued
The effect of this is, to place the bonds in the
hands of shrewd captalists-mcn who look to
security above everything, and Of this no greIt;
lnos Central Railroad Company. By whose
owners the State of Illinois has, in the course Of
a few years, not only been built up and popu-
lated, but has also been freed from debt, con-
verting that State from q barren waste into one
Of the most fourishng States in the Union; and,
at the same time, placing the securities of that
Company among the most favoritc on the Mar
kets of the " orld.
MANY of the companies whose roads are now
in course Of construction, own land grants on
small! scale, but there are about a dozen Com
pan:es holding lands to Il very large extent
prominent among which we note the ST. Joserh
and Denver City RAILROAD Company, t" which
association belong 100000 acres OF the hnes!
lands in Kansas and Nebraska.
This road is located in Missouri, Nebras ka and
Kansas, the progress Of the two former Of which
States is too we'll known to require turther ailu-
sion thereto.
Kansas, which is the nearest and most prom
ising State beyond the Missouri border, Is rapid
" filling up with hardy agricultural settlers,
and there is every Indication, that it will soon
possess one of the most productive populations
in the Union Many colonies, both from the
East and Europe are locating in the State, "nd
thrifty and growing villages are sprlnging up IN
every direction, the lands surrounding them be-
ing Quickly purchased and occupied by Farmers
and StocE-rasers The climate of Kansas Is
mild and agreeable; the winters are short and
snow seldom fails TO any considerable depth
the soil Is adapted to the cereals ana all the
fruits and vegetables OF the Eastern States; henp
and sorghum are common crops. and cotIGn has
been raised in South Kansas. Eastern Kansas
presents 4 succession of rich praries, fertile val
ieyS grass-covered hills with an abundance OF
yellow oak, black Walnut, elm, hickory, syca-
more, Eastwood and other timber, along the
streams The middle is more thnly wooded
but the west has many extensive tracts OF forest
the best requisites Of the finest grazing country.
The more important mineral products are gram
ite, gypsum and coal. The entire area is 81
100000 acres. or enough 70 make eleven States
Of the size Of Massachusetts,.
From this, it is evident that the st. Joseph and
Denver City Railroad Company has even bet
ter prospect thsn the Illinois Central K. 4.
Company ever had, as not only by its co9struc-
ton it becomes the Middle Route from the At
!antic to the Pacific Ocean, but, BY It's cutoff
ile from s.. Joseph to Fort hcarney, it secures,
from the start, all the passenger and tresh.
traffic that i: can move, furnishing thereby IRE
spectve Of the Land Grant, undeniable security
to the bondholder. When to this, is added the
fact, that the other Land Grant Railroad Com
psnes have sold their lands at all sorts OF prices,
from maximum OF Sl4 per acre dowI to- MN,
imum of 81 Is per acre, it will be seen that, If
this Company should realize only 81 per acre
for their lands. without taking INTO any account
the profits Of their traffic. their l,,@,uo) aercS
will produce at least Sl2V0Ho above the!F
mortgage which is only 50, 0OO,t0u
The road, which is being most substantially
and thoroughly built and is being rapidly hur-
ried TO completion, will NJ once form the mos;
important link in the great railroad system OF
the United States. 1t will shorten the time and
distance between San Francisco and the cities al
traveller from the Pacific Slope, who desires to
reach St. Louis or any part Of the country lying
south or southwest OF that rapid y-growlng city
Immediately on its completion, 1t Is destlneI 10
receive large share OF the business gong East
or West, beyond the Missouri River, and its
managers have shown wise foresight in equip
ping the line with M abundance OF rolling stock
of all kinds, TO meet the demand that l. sure to
arise.
That the great advantages Of this road have
been appreciated by capitalists; Is shown oy the
rapidity with which its bonds have been taken
up Only a limited amount OF them remain IN
sold and are looked on, as an investment 81 the
highest order. The moneys received from the
sale of lands, form q sinking fund for the re-
demption of the bonds, and the prospect Is, that
long before they fall due, the sale of the lands
will accumulate sufficient funds, to meet them
without trenching in any way upon the business
of the road.
The interests Of the bondnolder have been
guarded in every shape and way. The bonds
have thirty years to run from May. 1870. and
are payable IN gold in the City of New York
They bear interest ut the rate of Eight per ct.
per annum, payable i'm Gold semi annually,
free Of tax, on the 18th days OF Feb. and Au-
gust in New York, London, or tranktort-on
Main at the option Of the holder, without motto :,
and in the currency Of the country in which the
Coupons are presented Although these are
coupon bonds they NAV be registered in the
owners name with the Coupons on, or they can
be converted into a registered bond By the sur
render of the Coupons, and the interest paid to
the registered owner at any OF the three points
where the Coupons are payable
The management of this enterprise Is IN the
hands of thorough practical men, and the FL.
nancal Agents are the well-known, experienced
banking firm of Tanner i Co., II Wall Street.
New ! ork.
Altogether it is believed that no loan was ever
offered in this market which combines every ell
ement of security with such a high rate of in
terest, and it is certain that Capitalists do not
often have the opportunity Of placing their mon
ey, for so long time on q security. producing
more than eight per cent. interest Ill
gold.
These bonds are of the denomination of $780,
$500 and $1,000, and are tor sale at 81! and ac-
crued interest, in currency.
The agents for their sale in this city are Messrs.
w. d. CORSE ~ CO..
s. S SO King st.
who confidently recommend them as first. class
security, and who have already sold 3 large