Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1872-08-24
LAND GRANT RAILROAD BONDS
THE BEST SECURITY IN THE WORLD

THE BEST SECURITY IN THE WORLD.
Among the multitudinous securities, which arc
pressed on the attention of the capitalist, none
offer such tangible and reliable certainty u the
careful yselectcd bonds of bona iidc Railroad
Companies. holding Land Grant: from the Uni
ted States Government.
In addition to the advantages, which IN orli-
nary First Mortgage Bond of successful rail-
road presents t" the Investor, by its trSt-class
security and its ready convcrtibity ut any time.
into cash, Land Grant Railroad Bond offers
the nearest possible approach to absolute securi-
lty, by Its being represented not oni y by y com,
pletcd aud equipped road, but by the additional
pledge of lands, ut least equal in value to tho
amount Of the bonds issued.
The effect of this Is, to place the bonds in the
hands of shrewd capitulists-men who look t"
security above everything, and of this no great
CIR evidence is necessary, than the case the H.
linoiS Central Railroad Company, by whose
owners the State of Illinois has in the cour." of
a few years, not only been built up and pnpn-
lated, but has also been freed from debt, con
verting that State from n barren waste into one
Of the most furnishing States in the Union, and,
ut the same time, placing the securities al that
Company among the most fAvur!c IN the Mar
kets Of the World.
Many Of the companies whose roads are u"w
in course OF construction, own land grants OH /"
small scale, but there are about II dozen Com
pan:es holding lands TO n very large extent,
prominent among which we note the St. Jose III
and Denver City RAILROAD Company, to which
association belong l,7UOOO acres of the finest
lands in Kansas and Nebraska.
This road is located in Missouri Nebrask n ana
Kansas, the progress Of the two former of which
States. Is too well known to require further alu-
sion thereto.
Kansas, which is the nearest and most prom
Using State beyond the Missouri border, is rapid
ly filling up with hardy agricultural settlers,
and there is every indication, that it will so"n
possess one of the most productive populations
in the Union. Many colonies, both from tho
East and Europe are locating in the State, and
thrifty and growing villages are >pringing up III
every direction, the lands surrounding them be-
ing quickly purchased and occupied by Farmers
and Stock-raSers. The climate of Kansas is
mild and agreeable; the winters are short an!
snow seldom falls to any considerable depth;
the soil IS adapted to the cereals and all the
fruits and vegetables of the Eastern States; hemp
and sorghum are common crops and cotton ha-
been raised in South Kansas. Eastern kansa,
presents succession of rich prairieS, fertile val
eys, grass covered hills with an abundance "!
yellow oak, black Walnut, elm, hickory, sycm-
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 gran
tie, gypsum and coal. The entire area is d.
GU0,UU acres. or enough to make eleven States
From this it is evident that the st. Joseph and
Denver City Railroad Company has even bet
ter prospect, than the Illinois Central K. L.
Company ever had, as not only by its con$truc-
ton it becomes the Middle Route from the At
lantic to the Pacific Ocean, but, by its cutoff
lil.e from st. Joseph to Fort kearncy, it secure
from the start, all the passenger and freight
traffic that i: can move, furnishing thereby. ire
spcctivc of the Land Grant, undcniablc security
to the bondholder. When to this, is added the
~. Il 4 ~
panics have sold their lands ut AL sorts %! pricc>
from maximum Of Sl4 per acre down toa min
imum OF 81. l8 per acre. it will be seen that, Il
this Company should realize only 81 per acre
for their lands, without taking INTO any account
the profits of their traffic. their l,7W.ooJ acrc>
will produce at lea-t Sl,5t0En above Their
mortgage, which is only S5,51,uU.
The road, which is being most substantially
and thoroughly built and is being rapidly hur
ried to completion, will At once form the most
important link in the great railroad system OF
the United States 1t will shorten the time and
distance between San Francisco and the cities oi'
the East, and is of special Importance TO the
traveller from the Pacific Slope who desires IL
reach ST. Louis or any part of the country lying
south or southwest of that rapidly-growng city.
Immediately IL; comp etlon II Is destined /"
receive n large share of the business gong East
or West, beyond the Missouri River, and it
manager. have shown a wise foresight, in equip
ping the line with An abundance OF rolling stock
of al kinds, to meet the demand that is sure 10
arise
That the great advantages of this road have
been appreciated by capitalists, Is shown by the
rapdlty with which its bonds have been taken
up. Only u limited amount OF them remain UNI
sold and are looked on, rs an Investment 81 the
highest order, The moneys received from tn"
sale of lands, form sinking fund for the re-
dcmpton OF the bond-, and the prospect is, that
long before they fail due, the sale of the lands
will accumulate sufficient funds, to meet them
without trcnching in any way upor the business
OF the rOad.
The interests of the bondnoldcr have been
guarded in every shape and way. The bond,
have thirty years to run from May, so and
are payable IN gold in the City OF New York.
They bear interest at the rate Of Eight per ct.
per Annum, payable i'll Gold semi annually
free Of tax, ON the 18th days Of Feb and Au-
gust in New York, London, or franktort-"n-
Main, at the opti.,n Of the holder, without notice"
and in the currency OF the country in which tn"
Coupons are presented. Although these n"
coupon bonds they NAV be registered IN tho
owners Maine with the Coupons on, or they CAL
be converted into u registered bond by The sur
render of the Coupons, and the interest paid /"
the registered owner nj any of the three point,
where the Coupons are payable.
The management Of this enterprise l. in thr
hands of thorough practical men, ana the r.
uancial A gents are the we'll KNOWN experienced
banking firm OF Taancr Co., ii Nall Stree,
New York.
Altogcthe: it is believed that no loan WAS ever
offered in this market, which combines cv"rye!-
ement OF security with such high rate Of IL
tcrest. and il is certain that Capitalists do n"t
often have the opportunity of placing the moi
ey, for so long n time security, producing
more than eight per cent. interest i'll
gold.
These bonds are of the denomination of SlVl
$500 and $1,000, and are Tor sale ats Ana NC
crued interest, in currency.
The agents for their sale in this city are Messr-.
w. ID. CORSE IL CO.,
who confidently rccomme. d them n II t.r>t-cla>S
security, and who have already placed Il lars"
number in the hands ot some OF our most pru'
lent and s.u,mious citizens aug LIT
NOR SALE-A second hand CHI RICH or