New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-01-04
The Central Trust Company Of New-YOrk.

The bonds are secured By first mortgage the entire
railroad equipment franchises and other property Of the
Company acquired be acquired. Including the land
grant with the exception Of the lands east at the Missouri
River subject only 20 the lien OF the Pend dOree aud Mis-
souri, Divisional Bonds, retire which equal amount Of
these bonds remain in the hands OF he trustee
The bonds receivable OF lands at ITO and in
teres The proceeds OF all the Of land m0rtgaged after
payment Of interest on the bonds applied the
purchase Of the bonds below 10 and interest above
price viii lot for payment at ITO
and interest
The purchased together with received In pay
lands viii be held for snking fund purposes
The sinking fund begins in 1882 is sccumulave and sufh
cent at its minimum pay of this Indebtedness at maturity
The Land Grant Of the Company very large an valuable
being OF 1880 per mile In the States and
% 600 IN the Terr tories The land east
River subject the ht Of the Preferred sockhOl ers TO
exchange their stock par for purchase Of those lands but
in the default the payment Of the interest on
these bonds the security Of these lands would revert TO the
bOndholders
The line railroad when completed will extend from
Lake superior two points the naygabe waters OF the
Pacific Oceln G.. Puget sound W. r. and Columbia River
at or Portland OREGON. It will be about 400 miles
IN length The branches and connect.o now owned OF
under 203 miles in length making total line about
$500 miles.
ofthe the main line there finished and running 799
miles under construction and expected to be completed
about July, 1881. ZOV
To complete system there requires TO be constructed
about.
OF the 2O3 miles Of branch lines 1872 finished
making at the present time total finished line of... 99l
with proceeds OF the loan the Board OF Directors
have already steps the building Of the line
the rapid compatible wi proper economy and
the intention OF the Company tOhave through line at
the earliest practicable perOL In adion TO the 200 miles
aud under construction vigorous measures
wl DO taken for further prosecution Of the work The
necessary and equipment for than 800
miles have already contracted Tor.
The net earnings the Company for the ending June
80 1880 stated in the annual report Were S7C5OS9 "
on 100 miles OF completed road
The gross earningsof the Company from July !,
1880. December 81. 1880 December ost
mated) l63I'2f ~
For the same period of 1870 l2953l3 I'll
showing increase 1880 poriod... S3l2GlO %
on about the same mileage the presen: additional new line
having been only recently ready for use.
should there be any deficiency Of net earnings
for the Of the interest these bonds the proceeds
OF sales Of lands Of the Company first applicable for that
purpose
The road passes through grain auds Of Minnesota and
be demonstrated to be as good as any
world Those OF Montana are being rapidly settled
for grazing purposes Montana has also large mineral
wealth.
Tbe proceeds Of the offered will furnish the CON
pany all the required during the year 1851 and no
farther amount If bonds Will be offered unul 1892
According 10 the estimate Of the Company. the ex'
pepdturo OF about $4,000 will complete the line The
Divisional bonds ($6500000) and the present issue VIII
diminish by or lana saeS on
pleon fixed charges will not exceed S2SOOOOO
to per Under the former organization Of
The Company Of bonds mad been ssue
have been converted INTO the present Preferred
Stock.
The proceeds Of these bonds paid direct TO the Com
pany which makes Its contracts. theIe being 10 con-
struction company.
In virtue OF our contract Of purchase with the
Northern Pacific Railroad Company subscriptions will
be received on and amer Monday the Sd of January,
1SSI by either Ofthe undersigned for the above bonds
100 AND ACCRUED INTEREST
payabIc ON or before February l. 1851 the option
Of the purchaser.
Pending the preparation Of the bonds by the Com
pany negOiabIe receipts will be giveh excannGeabe
for the bonds " hen ready.
A simultaneous issue will be made by MESSRs ].
MORGAN & CO.. 10 London.
Copies bond and mortgage aud further information
10 concerning the Laud Grant, etc. be obtained at
our Offices IN pamp nlet form.