Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1872-09-10
EXvN.4.N'CI.aL.
LAND GRANT RAILROAD BONDS.
THE REST SECURITY IN THE WORLD.

Among the multitudnous securities, Whlcn arc
pressed on the attention OF the capitans'' n'te
carefully-selected bonds OF bona fde ksliroad
Companies. holding Land Grants from tho 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 its tirst-class
security and its ready convertiblity at any time,
into cash a Land Grant Railroad Bond offers
the nearest possible approach to absolute securi-
ity bv its being represented not on y, by com
peted aud equipped road, but by the additional
pledge of lands, at least equal in value to the
amount of tho bonds issued. :,
The effect of this is, to place the bonds IN the
hands of shrewd capitalsts-men who look TO
security above everything, and of this no great
er evidence is necessary than the case OF the IL
linos Central Railroad Company. By whose
owners the State of Illinois has in the course OF
y few years, not only been built up and popu-
lated but has also been freed from debt, con-
verting that State from barren waste into one
of the most flourishing States in the Union, ana,
at the same time, placing the securities OF iha'
Company among the most faVorlte on Inc MAT
kets of the World.
Many of the companies whose roads are no"
in course Of construction, own land grants on
small scale, but there are about 81 dozen Com
pan:cs holding lands to very large eA.eni,
and Denver City RAILROAD Company, to which
association belong l,7O0,CO COO acres of the finest
lands in Kansas and Nebraska
This road is located in Missouri, Nebraska and
Kansas, the progress of the two former OF wnlch
States, is too we'll known TO require further alu-
sion thereto.
Kansas, which is the nearest and most prom
ising State beyond the Missouri border is rapid
ly tiiling up with hardy agricultural settlers,
and there is every indication, that 1t VIII soon
in the Union. Many colonies, both from the
East and Europe are locating in the State, and
thrifty and growing villages are sprnging up II!
every direction, the lands surrounding them be-
ing quickly purchased and occupied by Farmers
and Stock-raisers The climate of Kansas is
mild and agreeable; the winters are short and
snow seldom falls TO any considerable depth;
the soil IS adapted to the cereals and all the
fruits and vegetables Of the Eastern States, homp
and sorghum are common crops, ana cotiEh nus
been raised in South Kansas. Eastern Kansas
presents succession of rich praries, fertll val
leys, grass. covered hills with an abundance of
yellow oak, black Walnut, elm, hickory, Syca-
more. bass wood and other timber, along the
streams The middle is more thinly wooded,
but the west has many extensive tracts OF forest,
the best requisites OF the finest grazing country.
The more important mineral products are grain
tie, gypsum and coal. The entire area is 81
GOO 600 acres or enough 10 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, than the Illinois Central Il. Il.
Company ever had, rs not only by It's coist"uc-
ton il becomes the Middle Route from the AT
ianiic to the Pacific Ocean. but, by its cut-olf
iil.e from ST Joseph t. Fort hearneT, i: secures,
from tie start, all the passenger and freight
.r:,i:ic that il can move, furnishing thereby !r!e-
spcctirc Of The Land Grant, undcilab!c security
70 the bont:holdcr. When TO this, is ado: TIC
fact. that the other Land Gran. Railroad Com
paes have solo! their lands q; n! sorts o; prices,
from maximum OF Sl1 per acre down 70 = i'!in-
mum OF 81 IS per acre. il viii be seen that II
this Company should rcAl!ze only - per acre
for their lands, without taxing INTO any account
,hc profits OF their traffic, their l,7sl,Lu' acres
will produce AZ least sl.N0rn above their
mortgage which is only -. :+u.lm
The ruu,,t which is being most substantially
snd thoroughly bull. and i: being rapidly nur-
ricd lo completion, viii nj once ;"rnl IN" most
lnportan! link in tho great railroad system OF
tho United States Ii 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 TO
reach ST. Louis or any part OF the country lying
south or southwest OF that rapldly-grnwinS city.
Immediately on its completion, it is destined to
receive large share of the business gong East
or West, beyond the Missouri River, and It's
managers have shown n wise foresight IN equip
ping the line with an abundance OF roillng stock
Of Ill 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
rapidity with which its bonds have been taken
up. Only limited amount of them remain I'M
sold and are looked on, AS An investment Of the
highest order. The moneys received from the
sale of lands, form a 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. Inc 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 selnl-annualy,
free Of tax, on the 18th days OF Feb. and Au-
Main, at the option Of the holder, without notice,
and in the currency of the country in which the
Coupons are presented Although these arc
coupon bonds they be registered in the
owners name with the Coupons on, or they can
be converted into registered bond by the SUR
render of the Coupons, and the interest paid t"
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 III
nancial Agents are the well-known, experienced
banking firm of Tanner s. Co., IL Wall Street.
New York.
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
ev. for so long \ time on a security, producing
more than eight per cent. interest in
gold.
These bonds are of the denomination of 500,
$50 and $1,000 and are tor sale at 81! and &C
crued interest in currency.
The agents for their sale in this city are McSsrS
w. ID. CORSE IL CO..
81 s. SO King st.
who confidently recommend them as frst-class
security and who have already sold large