New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-09-21
$4,000, 600,
Northern Pacific Railroad Company
GENERAL FIRST MORTGAGE
Railroad e. Land Grant Sinking Fund
Forty Year six Per Cent Gold Bonds

Principal due January 4, 1921.
Interest at @ Per Cent pm yabe Jan. and July L.
free United states State and Municipal Taxes tina
may required law to be deducted by said Company iron
said Interest"
Isue limited to s25 900 per mile Of and Brancl
Road finished accepted by the President the Unte'
sates
Bonds in form Of 900 EACH with provision
for registration Of principal and in certificates s0OOo eaci
with registration OF both principal and interest.
Trustee for BOndhoders
The Central Trust Conpa ny, of New.YorhC
These Bonds respects similar to those now quoted
at the and New York stock EXCHANGES Ihcy are 80
cured by mortgage the entire railroad equipment
franchises property of the company acquired and
be acquired including the land grant with the exception OF
the lands Missouri River subject only TO the len
of the PEND dOree and Missouri Divisional Bonds Wbcn
are being rapidly retired by the Land Grant Sinking Funds
payment of which equal amount Of these Bonds
are IA by the Trustee.
These receivable in payment for lands at ITO and
interest The of all sales of lands thus mortaged
after the bonds to which they are
first pledged the net earnings Of the road be at any
time insufficient therefor be applied 10 the purchase OF
the bonds at not exceeding lilo and interest or by drawings
that pnce.
The bonds 80 purchased together with received In pay
men will be stamped and held by the central trust
Co.. Trustee ~ the property OF the sinking Fund
registered certificates are not subject to compulsory
redemption TO be called in for the sinking fuhd un all
the coupon bonds have been redeemed
Sinking Fund begins in S85 is accumuatve and sui
fce at all the bonds to be issued under
this mortgage at or before maturity.
The and Grant which this is entitled by It's
charter is at the per mile of 300 in the states
256oo in the Territories The Land Department
reports that the for the year ending July 1882
Amounted TO:
46S,32l acres for .......-.-......SI'i1l''V''
And that the sales during July and August last were
1913 1916 acres for .................- $i6ooO'
The land east of the Missouri River is subject to the right
Of the holders Of the preferred stock to purchase the same at
the company cash pnce with their shares at par II oens
prov ded however in the mortgage in conformity Win the
p ganizaton that tie secuity OF tins lana le'oiS
bOndhOdes in the event II DEFAULT In some o inc po
visions of these This hen ot the preferred soch Oh
the said land does not attach wise 10 the cor
RESPONDING railroad upon which these bonds have an aDso
Lutte first mortgage
The Main Line and Branch authorized by Government
charter and whole OF which is subject TO this mortgage
conprses about being the line from the eastern
terminus Superior to the objective points on the
Pachc ocean.
The states that including lGn miles owned and
controlled embraced i'll the above Inc II has compeleu
and now opertes a ota line OF 5i92 miles Of which
there the Eastern Division SZ9 miles aud II me est
ern Division miles and that-e unfinished zap between
these endrey in tho Territory OF Montana docs
not Of which about 200 miles are now graded
ready for the track the rate Of construction the
grading Of this zap will be completed before the close OF s
wear and so much the track then finished as VIII leave
tODe lalu All OF NiiiCh IL i cAPV't0 WIN
be completed Of B. and thus open the con
nnous ne Of this company Lake superior 10 the Pacific
Ocean.
This Main Line ami Branch constructed without
the intervention construction company and The proceeds
Of these bonds a paid directly the railroad company
Under agreement with The oregon and TIancontnenal
COMPANY ranch being constructed which arc and
Wi become feeders to the in Line largely aug
naming it, business as protecting s territory
hee branches although owned by independent COM
Ianies will operated by tho Northen Pacific Railroad
company under traffic contracts by which it Will eventually
become the thec entire mileage and property free OF
all encumDrance
or about 1870 miles Of such branches the gradual con
sruotion which contemplated required during the
next years about 37 miles are now approaching com
pleuon.
IL Is shown in the companys reports that the fixed charges
for annual $2125o0O OF bonds outstan ing
July 1882 Sl4s3 800 per aDnum The net earn
ing from the operation road during the ending
July l. 1882 81 l72577. The earnings during
tie twelve months ending June 80 1882 compared with the
same periods previous year. show an average increase
OF over T. 3 per while the increase OF mileage
for months has not Exceeded ~ per cent It's
estimated that the traffic earnn for the year ending
July /. 1888. will not be less han Ss,OOOOOO
Subscriptions To the above bonds
atI02 I-2 and accrued interest,
payable on or before October 1882 tho option OF tho
CHASER. will be received on
Thursday, september 81, 1Ss2
by either Of the UNDERLINED of whom copies of the bond and
mortgage map OF rOal ana ilthef hoImalou III w I'LL ea
be obtained
DREXEL, MORGAN & CO.
Corner Wall and BrOad-sts
WINsLOW. LANIER & CO.
Corner Cedar and Nassau-sts.
AUGUST BELMONT & co.
II Nnssau-st
Subscriptions will also be received at the Offices OF
DREXEL ~ CO, Philadelphia.
LEE HIGGINSON 81 co,
BREWSTER, BAsSET & COS BOSTON
JOHNSTON BROTHERS & co.
Baltimore.