The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1872-04-01
S 6 100000
$1,000,
Sold in the Unitedxstates acknowledgements OF

These Bondsi have sold, tduring the past
year, 10 an extent unequalIed by those of
any other Corporation, and they have now
taken their place among the solid and ia
vOrite securities of the CO.. ntry.
This is because the Bonds based upon the
amplest security, being FIRST AND ONLY
MORTGAGE upon the railroad franchises, nd
all the lands and property, and rights of property
real and personal in possession by the Northern
facihc Railroad Company, or which the said Compa-
ny may hereafter acquire" The Land Grant of the
Northern Pacific Railroad will average over $4,000
acres to each mile of road This land is capable of
producing in abundance all the Fruits, Vegetables
and cereals of the Eastern or Middle States
THE VALUE OF LAND GRANTS.
The averageprice at which twenty-sixland grant
railroads have thus far sold their lands is 81 "a per
acre-the highest average of any grant being Sl3 49,
anu the lowest $3.O7. With few exceptions theIav-
erage selling price has increased from year to year
The lands OF the Northern PacifcRoad are admitted
by all who have seen them, to be better and more
saeabe than those of most other grants but sold at
the general average of 7O4 per acre. they will yield
more than $l6 600 per mile of road-more than three
times the possible cost of construction and equip
ment at the lowest average of any grant (3.O7'
they will produce more than $4,000 per mile which
is 100000 per mile more than the company are allow
ed to issue bonds.
TRAFFIC ON PACIFIC RAILRO ADS.
AS officially reported the gross earnings of the
ent Pacific Railroad Union and CentraD for 1871 the
second year of through business December earnings
estmated) reach Seventeen Millions and Quarter.
or this 65 per cent is from Local Business and it is
stated, fully IS per cent. nearly Nine and a Hall
Millions, are net over operating expenses.
An equal traffic on the Northern Pacific Road will
pay dividend of more than 81 per cent its total
cost With its great and unquestoned advantages in
distance, grades climate and tributary fertile
try, the Northern Pacific is assured of vast and
profitable business from the outset with large in
crease for the future.
These facts regarding Pacific Railroad earnings
ana the market value of Railroad Lands, as shown
by actual sales to settlers, show the unouestoped
security OF Northern Pacific Railroad Bonds.
CONSTRUCTION OF THE ROAD.
The road is completed to the eastern boundary of
Dakota, the Red River of the North, a distance Of
255 miles. On the Pacific coast, 65 miles are under
construction the greater part of which completed
including purchased lines the Northern Pacific Com
pany now have nearly 600 miles of running road
Contracts are let for the construction of $50 miles
more, to be finished before-the close of 1872. g.
WE WOULD RECOMMEND THE
NORTHERN PACIFIC SEVEN-THIR.
Tf GOLD BOND AS ONE OF THE
T AND SAFEST SECURITIES
NOW OFFERED TO THE PURLIC.
IN TINS security are combined the high credit of a
hrst-class Railroad Bond, with the soldtv and s.f
ty OF Real Estate Mortgage on Land worth more
than twice the amount loaned
These Bonds are payable in 19Oo-bear = . IN ,or
cent interest in gold payable first of July and lon
uary-are free of U. S. Tax-are receivable at IN nor
cent. premium for the Companys lands at the Low
eS' cash Price, and issued in the following de-
nominations; Coupon bonds $780, $500, and 81 ,Ooo
Registered bonds, 500, $500, 81 900. s5 900 and
$4,000.
The proceeds of all sales of land are reo,irsd 70
devoted by the Trustees of the hondho,aou.
(Messrs. j. Cooke and j. Edgar Thomnsonl as .
Sinking Fund to the purchase and cancellation .,
the first mortgage bonds.
EXCHANGING J-2O's. In view of the ability
and fixed policy of the Government to call in its
o-zos and substitute low-nterest hond-S140, OOO-
wv having been called in for cancellation since Sep
',nioei ist-many holders of 5-2O's are exchanging
-. 'oi Northern Paciics, thus adding to their
pfl .ne present premium on Government
nearly one third o'' i"ooiiie
al MAJ Ao'apie STOCKS and bonds will he receivad
at current prices in exchange for Nortbern pao,eo
Seven-Thirties without expense to the ;nyoa.o-
FOR further particulars concerning tb;s r., -
purchase OF the same, apply to the UNDERSIGNED
SWAN & BARRETT,
III. vi. PAYSON,
w. Il. WOOD,
,n o-anae Bankers, Portland.