New-York tribune., 1873-05-23
the Stock Exchange for cash. aud conduct general
banking business FISK & HATCH
BANKuyG,HoUsR or JAY COOKE a. Co..
NEW -YORK 10 WALI-sr., May "a, IsT3

NEw-YoRK. 20 WALI~Sr, May "a, 1873.
The 7-9O FIRST MORTGAGE GOLD LOAN OF the
NORTHERN PACIFIC RAILROAD COMPANY Is TO be
closed and withdrawn from market, in accordance
with the following resolutions, adopted by the
Board of Directors on the 18th of May:
Whereas The Northern Pacific Railroad Company
has built and has in operation, over Five Hundred
miles of its line, through favorable and valuable
country; -
traffic is already assured to the Company over its
road thus far completed;
And srhereds, The Company has earned title to
about Ten Million acres OF its Land Grant, and
placed large part of this in market and the same
is being rapidly settled by imm grafton foreign and
domestic. and sales thereof have been made at an
An extent that a Sinking Fund has resulted, ont of
which the redemption and cancellation of the Com
pany's bonds have been begun;
And hrkeTe0s Ii ls believed that on these results
the credit Of the Company is 80 established as TO
render inexpedient the payment of so high rate Of
interest as $40 per cent on future issues of its
bonds; therefore
Resoired, That the Loan of the Company, under its
present issue bearing $40 per cent Interest be linn
tied to total amount not exceeding Thirty Millions
~ Dollars and that issue of bonds. hereafter by
tbis Company beyond the said Thirty Millions shall
bear higher rate of interest than per cent per an
Pssolred. That the Finance Committee be directed
to arrange with the Fiscal Agents for the closing
ont of the $40 Loan. Indicated IN the preceding
Preamble and Resolution.
The President of the Company. in forwarding
these Resolutions to the Fiscal Agents writes the
following letter:
NORTHERN PACIFIC RAILROAD COMPANY,
PRESIDENTS OFFICE. % Fifth-ave.,
NEw-f ORK May l5 1873 }
GENTLEMEN: have the pleasure of inclOHng To
you a copy of a Resolution passed unanimously by
the Board of Directors Of the Northern Pacific Rail
road Company on the 18th of May instant
This Preamble and Resolve are in entire harmony
with my own views and wishes, and agree in spirit
and policy with the letter which addressed 70 you
ON the llth day Of December Last 49,
The completion of our Road 70 the Missouri River,
and our control of the trade of Manitoba and Mon
tana-the beauty and produchyeness o. the Red
River Valley and the valleys of Dakota-the value
of the large Government trade TO the Upper Mis-
souri, for the carrying Of most OF which We have
this wear cOntraCted-Our having IN operation and
under contract l65 miles of road ON the Pacific side,
between Puget Sound and the Columbia Ryer-the
very successful Inauguration of our immigration
system the large arrivals from Europe OF bodies OF
CoOnsts of the very best character destined 20 our
Land Grant and the steady movement OF settlers
from various parts OF the Union to the country
tributary TO the ROad-all this should, in my iudg
ment justify us in elevating the standard OF our
credit
trust that when the limit of the present Loan is
reached. the company will mud itself able 10 nego-
tate six per cent loan for the prosecution and com
G. w. CAss, President.
THE REMAINDER OF THE sEvEN-THIRTY LOAN Is
NOW BEING DISPOSED OF and offers 10 investors the
advantages OF
Limited Amount.
Profitable Rate of Interest,
Satisfactory Security.
As the bonds of this issue made receivable IN
payment for the Companys land at l.lO they will
be in constant and increasing demand for this pur
pose after the loan is closed-a fact which much
enhances their value and sttractiyeness as an In
vestment.
Other securities are received in exchange, at mar
ket rates. JAY COOKE d Co.
BONDS AT A BARGAIN.
MONTCLAIR RAILWAY BONDS,
guaranteed by the Midland Railway, for sale at 50.
JAMESON, SMITH & COTTING, IA Broad-st.
For SALE,
NoNTCIAR RAILWAY BONDS,
guaranteed by Midland Railway. Price 80.
Mr-SGRAVF a Co. 10 BrOad-st.