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

The bonds are secured by first mortgage on the entire
railroad equipment franchises and other property OF tho
Company acquired be acquired Including the land
grant, with the exception OF the lands az tho Missouri
River subject only the lien OF Pend dOree and Ms
soun Divisional Bonds, 70 retire which equal amount Of
these bonds remain the hands OF the trustee.
The bonds receivable Of lands ITO and in
eres The OF all the sales of land mortgaged after
payment Of interest the bonds must be applied TO the
purchase Of the bonds below 10 and interest above
that price, the bonds will be drawn by lot for payment at ITO
and interest
The bonds purchased together with received in pay
ment for lands will be held for sinking fund purposes
The sinking fund begins in 1885, Is acoumulave and suh
cient at Its minimum TO of this Indebtedness at maturity
The Land Grant Of the Company large and valuable
being of $4,000 mile in the states and
800 IN the Territories The land OF the Missouri
River subject Preferred Sockhol TO
exchange their stock par for purchase NJ these lands but
nt event Of ut In the payment Of the interest on
these bonds security of hese ADd would revert TO the
bondhOders
The main line Of railroad when completed will extend from
Lake superior the navgabe waters OF the
Pacific Ocean. G.. Puget Sound w. t. Columbia River
al Portland. oregon. IL will be about 2iOO miles
length. The branches and councillors owned or
under lease 203 miles in length making total line about
$500 miles
Ofthe the line finished and running 100
miles under construction and expected TO be completed
about July. zoo
TO complete the system there requires to be constructed
about .........................140O
OF the POS .mes OF branch lines 1872 finished
making AT he present time total finished line of 9sl
with tho proceeds Of present Of Directors
Rave already steps the building OF the line in
tie mos, rapid compatible viii proper AMI
the intention Of the Company have through line nj
earliest practicable pero In addition TO the 200 miles
and construction vigorous measures
for further prosecution Of the work The
necessary rails fixtures AID equipment for more han 900
miles have been already contracted for
net earning, OF the Conrany for tho ending June
sta al in no al reu0r WEIR
on 722 miles OF completed road.
The gross earnings NJ the Company from July !,
1850 December 81. 1880 December est
match were 16S792t 10
For the same period OF l.2953l5 I'll
showing incre,se 1890 period $Gi2.GI6 -
on ab u; the amc mileage presen: additional limo
having been OILY recently ready for use.
should horr be at tine dhcieIcy Of not earnings
for the payment bonds the proceeds
lands Of tie Grst applicable for that
purp So.
The rood passes through grain lands Of Minnesota and
DAKOTA demonstrated 70 Do good az any
IN the world Of Montana beng rapidly scitlcd
for grazing purposes Montana has also large mineral
wealth
The proceeds Of the BONDS offered will inrni.h the
pany required dug the year 1881, ana no
further amount Of bonds will be offered unnl lsS'.
According TO the estimate Of the Company. tho eH'
penditure Of about $40 00O0O Will complete the line Tho
Div4 ona bonds tsj.j010o0 ard the present is'ue will
peton OF the the fixed charges will not exceed s2SOOOOO
TO g. per Under the former organization OF
the Company $1,000 900 Of bonds had been sue
which have INTO the present Preferred
stock.
Tue proceeds bonds paid direct n the Com
pany makes It's contracts. there being no con-
sttuctiOn company.
I'm virtue Of our contract of purchase with the
Northrru PucIAc Rar0nd Company. sub cripiI0ns will
be received on and after Monday tue ID OF janunry,
ISL by either undersigned Tor che nboye bonds
102 AND ACCRUED INTEREST.
,avabIe on or before February I, 1851 the option
OF the purchaser.
Pending the preparation Of the bonds by the Com
pnny negotiable receipts will be glveh exchrnEeabie
for the bonds " hen ready.
A simultaneous will be made By MES5RS. ]. 8
MORGAN Co. In London
Copies OF the and further information
in detai concerning Land Grant etc. be obtained NJ
our Offices pamphlet Term.