New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-01-05
TRUSTEE
The Central Trust Company of New-YOrk

The bonds are secured by first mortgage on the enure
railroad equipment franchises and other property OF the
Company acquired and be acquired. Including the land
grant with the exception Of the lands east AZ the Missouri
River subject Onlv lien o. the Pend doree and Mis-
souri, Divisional Bonds retire whicn equal amount or
these bonds remain the hands Of the trustee
The bonds receivable of lands ITO and in
The of all the sales Of aud mogaged after
payment OF the bonds he applied 10 this
purchase OF the bonds II below ITO AL interest II above
that pce bonds will be drawn by lot for payment At ITO
ana interest.
The purchased together with received in
for lands, will be held for sinking fund purposes.
The snnuG fund begins In 1852 IL aceumuative and su
cen NJ its minimum 70 pay of this Indebtedness at maturity
The Land Grant Of the COmpanyis very large anc valuable
being OF II 200 per milo the states and
20 500 the Teri tories The land east OF the Missouri
River Is subject TO the ght Of the Preferred Stockho era
their stock at for purchase OF these lands D
IN the event default IN the payment Of the interest on
these bonds the security Of these lands wou revert TO thu
LOndhoders.
The main line OF railroad when completed extend from
Lake superior 10 two points navgable OF the
Pacific Ocean. G. Puget sound w r., and Columbia River
at or near Portland II will be about 2i00 miles
IN length Tho branches AMI cOnnectors now owned or
nder Z03 miles il length making total line about
$500 miles
OF the the man there finished aud running 1J
miles under and expected to be completed
about July. 1881 -.-.....' -0o
To c9mpo the system there requires to be constructed
ahoit ...................1 400
OF the POS miles Of branch line! lJ2 are now finished
making at the present time total finish hne oi.. 93l
WIN the proceeds rrcsen, loan the Board Of Directors
have already taken steps % eycn The building OF the me IN
most rapid manner compatible vi proper economy ana
10 il the intention Of the Company Ohaye through line AZ
the earliest practicable period In aiitOn to the 200 miles
uner vigorous measures
VIII be taken for further prosecution Of the work uhs
necessary rails fixtures and equipment ior more thAn 90
miles have already contracted for
h,nct earnings the Company for the year ending juno
80 1850 stated IN the annual re2or, were s'V3Oo''V
722 miles Of completed r)ai-
III. eross earuingsof The Company from julyl
1880 10 December 81 1880 DHember ostl.
maeN. were ...-.. oo'''-i -
FOR period Of loi................ 81
showing ipcre,s, Cor 1850 same period s3i,6lO ~
on alb nj mileage TIE p.essn. additional he" mo
having been lly recently ready Dr use.'
should there De- ~ .ng ddciel Of not earnirg'
for the payment Of tho Interest csc O)Hds he proceeds
Of sal OF lands company hrst applicable To- that
purpose.
1Aerold pas "a through the grain lands Of Nunsota and
d. ota v, Dc demonstrated u DO as god as any
IA the world Those Of Montana are beng rapidly settled
for grazing purposes Montana has Ato largo mineral
wealth.
Tho proceeds Of ho offered VIII farni'h the CON
pary ah The required during he year 1851, and no
nl.ther amount II bonds val be- offered unti 1882
According to the estimate Of the company. the eN-
penGure ol about $l0c0OG0O Will complete the I'm The
Divisional b)ads ($,j0)O0O aud the present s.ne viii
steadily dmiuh OT Of land and IN the con-
lorou OF the line the fixed charges Will noS exceed 2@oOOO
oqo 20 900 per annum the forter orqauzauon of
ourany more $1,000 600 Of bonds hal been Issue
which bonds a,c into the Preferred
-tO,s.
IT,. proc eds Of these bonds paid direct to The Coal
pao, Which makes contracts ,Leie beng 40 con
stiUcaUR COMPANY.
In yirfap Of contract OF purchase with tie
Norlcrn Pacific Railroad Company. sub 'crptons VIII
be- receive ana after Monday. the 81 Of JanHaTy,
1851 b. either 0fiAe uuIrsisn1d Tor the a6OFe bOIds
at
IO2 AND AUCRU ED INTEREST,
pnyable on or before February 1, 1851 at the option
Oi the purchaser.
Pending the preparation Of the bonds BY the tonr
pnny nr2O;iablc receipt, will be gives eHchanG1doe
Tor the bonds - hcn ready.
4 simultaneous issue will be male ~ NEssRs. J :
MORGAN * co. in London.
Cones boId and mort and further Information
10 detail concerning the Ild Graf ot can Oe obtained AZ
our Offices pam a.et iorD.