Wilmington daily commercial., 1872-01-05
A. s. HATcn,
HARVEY FISK.

HARVEY FISK. A. s. HATcH, |
FISK e. HATCH,
BANKERS,
and Dealers in Government Securities,
No. 8, Nassau Street,
Nep York, NoV 20 1871.
The successful and rapid negotiation OF nearly
three-fourths Of the FIFTEEN MILLION LOAN
OF THE CHRSAPEAkE AND OHIO RAIL-
Road COMPANY, and the energetic prosecution
of the work OF extension and preparation OF the
Road for an extensive mineral, agricultural, and
through trafc have placed the financial affairs and
resources of the Company upon such basis, that
we are directed to advance the price for future sales
OF the Bonds as explained In the folio wing letter OF
Mr.. Huntington, President OF the Company:
once Chesapeake and Ohio Railroad Company,
% William Street, New York,
November is, 1871.
Messrs. FISK 4 HATCH
Bankers and Financial Agents C. 4 r. r. Co:
Gentlemen:
The Western Division Of the Chesapeake and
Between Huntington, on the ohio River, and the
mouth of New River above the Falls of Kanawha),
is now substantially completed, and Will In a few
days be ready to do the immense coal and other bus
iness that is awaiting its completion The Eastern
Division, comprising 22T miles, between White Sui
phur Springs and Richmond, Is now In complete
der and successful operation. The grading and ma
sonry on eleven OF the lo2 miles between the mouth
OF New River and White Sulphur Springs, is COM
plete, and the work the remaining 81 miles is
far advanced that track-laying Will De commenced
on this portion OF the road In May next and con-
tinue without Interruption until the whole line iB
In view OF these facts you are hereby directed to
at less price than % and accrued interest," at which
price you Will continue to sell until further orders
Very respectfully yours,
&. p. HUNTINGTON, President.
In compliance with the foregoing Instructions, the
price of the Bonds, from this date until further or
ders, will be 81 and accrued interest.
The scarcity Of and demand for, really
Desirable 9 per cent. Gold Bonds,
for solid and permanent investments, is eyinced by
the facts that
PIve-Twenty Bonds OF 1867 are selling at. II5
Central Pacific Bonds are selling at....... 1903
Chesapeake ~ Ohio Bonds are selling at. 81
These bonds all pay both principal and interest in
New York city, in U. $. gold coin, and are equally
The reason why FIvK-TwENTY BONDS are so high
Is because no more can be issued, and the outstand-
lug amount is being rapidly decreased by purchases
/ by the Government from their surplus revenues.
| The reason why We think CENTRAL PACIFIC BONDS
will in time advance to the price of FiveTwenties
/ is because no more can be issued while the opera
/ tiOn Of their sinking Fund will soon commence tC
/ decrease the amount.
The reason why CHESAPEAKE AND ONO BONDS
selling so low, comparatively, while equally safe, 4,
/ because the Company are selling Bonds to complete
the road. They Will all he sold In a short time, ant
In a few months the road will be finished, when W.
| have doubt the same result will follow as witt
| FIvR-TwENTY and CENTRAL PACIFIC Bonds. This
/ Sinking Fund Of the Chesapeake and Ohio must g
into effect within one year after the completion o
the road.
The ChesnpenlIe d Chic Bonds are issue,
| either coupon or registered-the denominations arr
| as follows:
500, which cost today ............ s9413
/
$1,000, ............ 9l3i2
Orders for Chesapeake and Ohio Bonds, may b
sent through any National Bank or Banker; or &C
companied with Drafts or Checks, may be forwards
to us by mail. Bonds or money may be forwardc
by any responsible Express Company az our expens
and the Chesapeake and Ohio Bonds, I'm exchange
will be sent by return Express, charges paid.
| We buy and sell Government and CENTRAL PACl
FIG BONDS, and receive them in exchange for Chesa
| peake and Ohio Bonds.
| Accounts of Banks Bankers and others receive
ohich aiLotc interest at the Tdte Of four per cen
| per annttm.
nov4 eod2md&w Financial Agents.