New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-01-03
TRUSTEE.
The Central Trust Company of New-YOrk.

The oonis are secured By first mortga the entire
ralroa nent franchises an other property OF the
Company acquired aad be acquired Lcud3g The land
grant, with the except OF tho lads cas- If The Missouri
River cub cc oulv the lien the Pead dOrile AID Mis
s1u DvsO Val Bon Is 70 rere which an equal amount OF
thes' bonds remain the hanls Of The trustee
The bonds receivable in pamclt OF lands at 10 and In
tercs The prce d. OF all the sales ~ lana mOrtgage after
payment Of the b1n &, he applied TO tho
purcha Of tbs bpn H. II below 10 and int rest II a1Ove
that PM Go-ds Will be drawn by lot Tor payment at 40
and incrst
The Dons purchased together with received in pay
mcnt for Ian To- will be held Tor sinking fund purposes
The sinking fund begins 1885, Il accumulave and SUN
cicnt at ts minimum pay on his indebtedness at maturity
1ie Laad Grant Of the Company very large an valuable
being at the Of 1880 mile In the States and
2jGJJ IN the TER torea The land eas OF the Missouri
RIVER Is ect the n h OF tire Preferred ockhOl 10
exchange their par for purchase Of these ans but
in TIE event OF default tho payment Of the Interest
these bonds the security OF these lands would revert TO tie
LOniholders.
The min line OF railroad wien completed will extend from
Lake superior points the navigabe waters OF the
Paclc OceJnl e, puget S1unl W. r. aud Columbia ver
at Portaid Oregon. 1t vii be about 2,iOO miles
III length. The branches an1 connect now owned or
under 2O3L miles in lrngn, making total line about
$500 miles
Ofth the main line there finished ard running 100
miles under construction aud expected TO he completed
about July ...-...... 200
To compete the y4;em there rcluir to be constructed
abou, l,4OO
OF the 2O3 gmlcs Ut branch lines 1872 now finished
making The present Tins toa! fnish line o.. N9l
the pror ds OF the present loan the BOaid OF Directors
have already taken teps cKcnd tie building Of the line IN
most r9pd marnar aib.c 81 proper economy and
II is Tie intention Of the ANY tOhave through line
the earl est pTdcucabe pcroL In addition 10 The 200 miles
oncl uncr contradiction vigorous measures
viii b. taken fr farther prescott Oh ~ the work The
s.ary rails fixtures ard Equipment for more than 900
ndles have zen already contracted Tor.
h net earning the Com for the wear eniing Juno
sseI in the annual report Were S'O9OoS 70
on ~ miles OF competed road
The gross earnmgsO Of the Company from July ],
1850. TO December 81. 1850 december est
ma ed wcre-............ ........-. l6"'"2i ~
For the same period Of 1919 l@953l3 81
s,vtro tncrc A. for 1sso same period ~ $40 10
on about mileage the prs,n: additional new limo
having been ply recently rcady tJr usU
:huuld tlcrr Ds 4 unO d.hcolcy Of net earnings
fo NY Of the interest eSr bonds the proceeds
nrst applicable fDr that
purpose
road passes through the grain lands o Minnesota and
ia oa be demonstrated to be as good as any
m the world Those Of Montana beng rapidly settled
for grazing PURPOSES MOn,aIa has also large mineral
wealth.
1ho proceeds OF offered Will furnish the con-
pany required daring the year 1881 and no
further amount Of bonds viii be offered until 1882.
According TO the eat na-n Of tho COMPANY tho ex-
p.upre of about $40 OOGOO Will complete the line The
py DUAL bonds (fG 1000 aad the present Issue viii
steadily diminish by Of land sales aud IN tho CON-
pson OF the line fixed charges VIII not exceed S2HOOOOO
TO $4,000 per Uudcr the former organization Of
tho Conn any OF bonds bern issue
which into the present Preferred
StOck
Tue proceeds bonds paid direct 10 rho Com
pauy which makts It's contracts, there being no on
stTuclOn company
In virtue Of contract Of purchase with the
Northern Pacific Railroad Company subscriptions will
be received and aflrr Monday tue I'D Of Jannury,
ISL By either tue undersigned for the above bonds
IO2 AND ACCRUED INTEREST
pnynbIe on or before February L. 1881 the option
OF the purchaser.
Pleading the preparation Of the bonds By fsic Com
pany negotiable receipts viii be givei, excAHnEeabe
for the bonds " hen ready.
simultaneous issue will be male by MEssR5 J.
MORGAN & CO.. in London.
Copies Of the bond and MORTGAGE and further Information
in detail concerning etc. be obtained At
our olices pamphle tOrm.
DrexeI, Morgan & Co.
WinsIow | amer e. Co.