New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-09-17
The Central Trust Compa ny, of New.YOrk.

1bos Rand. are in ALI respects similar quoted
at the London and STOCK Exchanges They are Sc
cured the entire ralodn' equipment
franchises and property Of the company acquired ana 10
he acquired Including land grant with the exception oil
the lands east Missouri River subject only 10 The zen
Of the Pend dOrec and Missouri Divisional Bonds which
are being rapidly retired by the Land Grant sinking Funds
the payment of which an equal amount Of THESE boS
are reserved by the Trustee.
These bond, are receivable payment for lands AZ 10 and
interest The Of an sales Of lands thus mortsagd
after payment the bonds TO which they are
ST rieeed should earnings Of the road be AT any
time insufficient must be applied 10 the purchase Of
the bonds no not exceeding 10 and interest or by drawings
at that pnce.
The bonds so purchased together with received In nay
cnt for lands and held by the Central Trust
CO.. Trustee the property OF the sinking Fund
The registered ccrtiH not ujec To compulsory
redemption Dee called IN for the sinking Fund untl al
the coupon bonds have been redeemed
The sinking Fund gins 1885 Ia accumuative anu sur
minimum to al the bonds to be ssed under
this mortgage at or before maturity.
The and which This company is entitled by ITS
charter per mile Of 1880 acres IN The states
and 20 800 the Territories Tho Land Department
reports that the for the year ending July loS2'
amounted to
4GS. 32l acres for .-..-..-..-..-.Slf -l,3of.
And that the sales during July aad August Iast were;
1920 acres for.-.-...--.--...--- $4,000.
Tho land east Of the Missouri subject to the right
of The holders OF the preferred stock 10 purchase the same at
the conpanys cash poe with their shares at par 1t being
provided however the mortsag, in conformity with the
plan ~ nizaon that the -ocunty Of this land reyerts
10 the bondhodes Of default In some OF the pro
visions of bonds This len Of the preferred stock on
t said land does attach any wise o. the cor
responding railroad upon which these bonds have an abso
Lutte first mortgage
The Maip Line and Branch authorized by Government
charter and whole OF which subject TO this mortgage
copses about 4D6 miles being the line from the eastern
temnu. superior to the objective points on tho
Pacific Ocean.
The company states that including 100 miles owned ana
controlled not in the above line it has completed
and NOW oerates total maiu line lj9i2 miles Of which
there are Division 929 miles and IN the c't
iG09 miles and that te unfinished zap between
these two divisions entirely In the Territory of Montana does
j miles OF which about POO miles are 30" susu
ready for the track pro rate Of construction inc
grading Of gap will be completed before the close o ms
year and much OF track then finished a. VIII leave
about $50 miles only laid ali of which Is expected Will
be completed in the Of 1888 and thus open the con
nuou nne Of this company Lake superior the Pacific
Ocean.
This Main Line ami Branch being constructed without
the Intervention Of construction company and the proceeds
OF these bonds paid directly 70 the railroad company
Under an agreement with the Oregon and Tansconnenta
Company branch lines being constructed which are anu
Will become valuable feeders to the Mn Line largely aug
menting its business well protecting its territory
These branches although owned by independent com
uanies will be operated by the Northern Pacific Railroad
Company under traic contracts by which II WI" eVehtuaiy
the Of their entire mileage ana property nee oi
aboit 800 miles Of such branches the gradual con-
strction Of which contemplated required during the
next few Yeas about 81 miles approaching com
plehon.
1t shown the cOmpanys reports that the liked charges
for annual interest $2i2j0OO OF bonds outstanding
Juy 1882 amount $4,000 per annum The net earn
nes from the operaton the road during the ending
Tnv 1ss2 amounted TO s2l72577., The earnings during
the twelve months ending June 80 1882 compared with the
sane periods Of the previous year show increase
OF over II per while the Increase u mileage
for the same exceeded - per cent 1t is
estimated that traffic earnings for the ending
! July !. lss3 will not be less than Ss.O0O,0OO
subscriptions to the above bonds
nj IO2 . and accrued interest,
payable on or , the option OF tho
! chaser Will be received on
Thursday. september 81, 1852,
v either OF the undersigned whom copies Of the bond and
MORTGAGE map roal and further information ia 10 tail can
| be obtained.
! DREXEL MORGAN n co,
Corner Wall aud BrOad-sts.
WIN~LOW, LANIER & co,
| Corner Cedar and Nassau-sts
| AUGUST BELMONT x co..
| 81 Nassau-st
Subscriptions win also be received at the oleesoi
DREXEL & co. Philadelphia.
| LEE. HIGGINSON * CO. (n
! BREWSTER, BASSET ~ CO. ""''o"
JOHNSTON BROTHERS 4, co,
| Baltimore.