Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1872-01-23
THE VALUE OF LAND GKANDs.

over $1,000 acres to each mile of road This land capa
be producing in abundance all the Fruits, yegea-
bles and cereals ofthe Eastern or Middle States
THE VALUE OF LAND GRANDS.
The average price at which twenty-sx land grant
railroads have thus TAR sold their lands is s7O4 per acre
thehghcst average of any grant being Sl39s, and the
lowest s3O1 With few exceptions, the average selling
price has increased year year The lands of the
| Northern Pacific Road admitted, by all who have
seen them to be better and salable than those of
other grants but sold at the general average of
s7O4 per acre they will yield more than Sl6l 900 per
mile ofroadmore than three times the possible cost of
construction and equipment; or, at the lowest average
Of any grant SOD they will produce than $4,000
per mile which is 10000 per mile more than the COM
pany are allowed to issue bonds
TRAFFIC ON PACIFIC RAILROADS.
As officially reported the gross earnings of the present
Pacific Railroad Union CentraD for 1911 the second
year through business december earnings estmaed)
reach Seventeen Millions and Quarter OF this IS per
cent is from Loc Business, and it stated fully S. per
cent or nearly Nine and Half Millions are net over
| operating expenses.
An equal traffic on the Northern Pacific Road will pay
dividend of more than ~ per cent on It's total cost
With its great and unquestoued advantages in distance
grades climate and tributary fertile country the North
Pacific is ASSURED of and profitable business
from the outset with large increase for the future.
These facts regarding Pacific Railroad earnings, and
the market value OF Railroad Lnds shown by actual
sales to settlers. show the unquesoncd security of
Northern Pacific Railroad Bonds
CONSTRUCTION FTHE ROAD.
The road is completed the eastern boundary of Da-
kota the Red River ofhe North distance of 255 miles,
On the Pacific coast IS miles are under construction the
greater part ofwch is completed -incuding purchased
lines the Northern Pacific Company now have nearly
OOmles of running road. Contracts are let for the con-
sruction Of Gl5 miles more to be finished before the
close Of 1872
WE WOULD RECOM MEND
| THE NORTHERN PACIFIC SEVEN
THIRTY GOLD EOND AS ONE OF
| THE BEST AND SAFEST sECURI-
TIES NOW OFFERED TO THE
| PUBLIC.
In this security combined the high credit first
class Railroad Bond, with the sodlty and safety of
Real Mortgage on Land worth more than twice
| the amount loaned.
These Bonds are payable in l9OO-bear $40 per cent
interest in Gold payable first Of July and Januaryare
free of L. s. TaX-are receivable 10 per cent premium
| for the Company's lands at the Lowest Cash Price
and issued in the following denominations:
Coupon bonds slCO $780, and 81 900; Registered bonds
SlOO $500, ST. 600 $1,000 and $4,000
The proceeds Of all sales of Land are required to be de-
voted by the Trustees Of the bondholcs (Mcssrs Jay
| Cooke and j. Edgar thompson, Sinking Fund to
the purchase and cancellation of the first mortgage
bonds, temporarily to payment ofnerest thereon
if necessary.
EXCHANGING 5-2Os. In view of the ability and
fixed policy the Government to call in its 5-aOs and
substitute low interest bondS4OO0O 600 having been
called in for cancellation since September lst-many
holders o(52Os exchanging themor Northern paccs
thus adding to their principal the present premium on
Government Bonds and increasing their yearly interest
| income nearly ne-third
All marketable stocks and bonds will be received at
prices in exchange for Northern Pacific Seven
Thirtes without expense 10 the investor
For further particulars concerning this Bond or pur-
chase ofthe same, apply to the Undersigned