New-York tribune., 1873-01-03
BANKING AND FINANCIAL.
BANKING HOUSE OF JAY COOKE & Co,
90 Will Jan. g. IS

20 Wall-st., Jan. 8, 1s13
The NORTHERN PACIFIC RAILROAD COMPANY now
has in fall operation with regular daily trains, 81
miles OF road. distance of nearly POO miles moro
is constructed The Minnesota Section, Immediately
on its completion entered upon satisfactory bust
ness including local traffic and the large carrying
trade of The Northwestern British Settlements and
the Hudson's Bay Company. The recently com
pleted section of u miles, on tho Pacific Coast, at
once commands profitable business between Puget
Sound and the Columbia River, heretofore done by
coastwso steamers. On the opening OF Spring,
with more than 800 miles of Road in regular opera
ton, the Company will control the extensive and
productive trade of the Upper Missouri, much of
Montana and the Northwest The earnings OF the
Road for 1878 will be large.
ARRANGEMENTS for pushing construction vigorously
| the coming year are progressing satisfactorily.
OF the nearly Ten Million acres OF Land accrlnng
| to the Company in connection with the portion OF
Road now virtually constructed. some Two Million
acres of excellent average quality, are In market
and their sale and settlement progressing. Inc
| average price thus far realized is 80 10 per acre
which is at the rate of than 100000 per mile OF
road for the whole grant.
The Company has already begun she process of
| redeeming and capeeling its First Mortgage Gold
Bonds as they are now being received at llOin pay
ment and exchange for the Company lands.
With these accomplished results and most favor
able prospects, the Company is now selling its FIRST
| Mortgage 80 Bonds for the purpose OF completing
| its line of road. We recommend them as wei
secured and unusually profitable investment They
have the following elements Of strength and safety
| They are the obligation Of a strong corporation (;
tbev are First Mortgage on the Road. its Right Of
| Way Telegraph Lines, Equipments and Franchises,
and a first lien on its Net Earnings. lF addition 10
this usually sufficient security there is pledged for
/ the payment of principal and interest Land Grant
of l2SOO acres per mile of road through the States,
and % 600 through the Territories. The rate OF IN
terest seven and three-tenths per cent, eold,l Is
equal now TO about 8, currency. Gold Checks tT he
seidnnual interest the Registered Bonds are ndted
to the Post Office address Of tho oTner.
Allmarketable securities are received in exchange
| on most favorable terms. For sale by Banks and
| Bankers generally. JAY COOKE & Co.
CAPITALISTS aud all Investors invited to exam
| inc the merits of the Bonds issued by the IN
DIANAPoIIs BLOOMINGTON, AND WESTERN RAILWAY
COMPANY, and secured by First Mortgage on Its
Extension Line of 2l7 miles. On this work, lOO miles,
from CHAMPAIGN to Havana on the Illinois River,
completed, and trains will run over that section
in the second week Of January. The remaining dis
tance of s. miles to Keokuk on the Mississippi, with
| the branch of 81 miles to Decatur now graded and
track partly down. will be finished in ample time Tor
the business of 1873 The character OF SOIL increas-
| ing productions and wide belt of country tributary
to this part of the ne for II very large re-
munerative business
The road from indianapolis to Pekin, 02i miles,
has been in operation little more than two years
and has established success. Its earnings have
steadily increased, giving in 1872 an excess OF
$685. 900 over 1871 Net receipts from this part OF tho
line alone are more than sufficient to respond pune
tually TO interest on all Bonds made ard 'ssned by
the Company 1t rarely occurs that this car 10 said
of any railroad during negotiation Of its securities
The entire line of 400 miles has the SUPPORT OF q
populous exceedingly rich and productive agricui-
tuIal region passes through and connects important
towns and cities, and crosses immense deposits OF
good coal all of which insure local business of great
magnitude. Its own Western and Northwestern
connections substantially under same control, with
prominent intersecting roads, will furnish large
through traffic. The managers appreciate the neces-
sity of unusually large equipment, and are providing
for it as rapidly possible. This with new elevator
accommodations under construction expressly for
this road at Indianapolis, will greatly increase it,