The times. [volume] (Richmond, Va.) 1890-1903, 1890-06-11
nAhexaa nnn nrn,k, Il
CtSO ono CI,Y OF PORTS
~ iDOsOOO MOUTH. "a. ) PER
ca ~. 3D-YEAR BONDS, DATE, JANI-
Any lsr. 1890. INTEREST I'sYABLE
JANUARY AND JULY.

We control and oAer for sale. o. par and
accrued interest, and recommend ~ inyes.
tors. the above described bonds. icsorving
the right (Which will very PROBABLY be exer-
cised) toadyance the price at any time with
out notice.
Portsmouth r n conservative and growing
city. WIN population Of 1900. most adj
yantageCusly situated on Norfolk llGrbOr, Op-
pOsite the city OF Norfolk, Va.
10 may now be considered mac. icallv the
outlet ana ocean terminus of three treat rail-
road systems, tO-wit: 4 lie Seabpald Air Line
the Atlantic Coast Line. and the Richmond
aud Dauvlllc. the two latter systems reach.
ing the ocean over the Norfolk and Carolfno
Railroad (cOmpicted March, 1890. which
they Jointly OWL extending from Tarboro. y
g.. TO Portsmouth, a distance Of about 100
miles.
Besides The r. r0i,is. n great addition was
made 10 the railroad facilities Of the port by
the openiug 10 February, 1890. Of The attain
tic and Ilu,iile Railroad from Portsmouth,
70 ilanylilc, which road is now being extend
ed under be charter Of another company into
the rapidly developing mineral region Of
southwest Virginia.
We take the following extracts from let
ter just received from Mr. James II. JOOmcr,
the chairman of the Finance COmmittee OF
the Common council Of Portsmouth,. who
un Ter date Of April 2sth, 1890. writes as
officially rs follows:
Tho opening OF tho Atlantic and
nanyilc Railroad has already done much for
the city. and we are hoping for an Increase
OF business In all lines. Portsmouth
has never repudiated any Of her debts. and
today there is no claim of any kind again II
the city due and unpaid
The assessed valuation OF taxable property
for 1859 WIS about a 900 900. The true val
uatiOn for that year was cOnservaiiVely csti-
tna red no sG.OOo,OOo. Since the close of the
year, now and Important railroad lines hHNc
been opened aud other advances in the
growth and pro pcrity OF the city have taken
place.
lie assessment now being made should
show r. very material increase inyaluos oiail
kinds.
Tue city tax rate Of Portsmouth is 81 so, the
same as thar Of Norfolk.
The tOtal bonded debt. including this issue
Of bonds. is 1891 800, or about SO per capiia
The per capita debt Of Norfolk. for whose
per cent. bonds lOs has been bid. is So. The
bonded debt per capita Of Danville, Va,
city but little larger than Portsmouth, and
whose per cent. bonds also command pre-
MUM. b. $50. Al par and interest these
are decidedly the cheapest ana most attfac-
tive high grade municipal bonds in tho state.
The available assets OF the city are valued
az about $3.50 600, INCLUDING One-hali interest
ln The Norfolk County Ferries, $4,000. ana
public buildings valued at $4,000.
The legality and regularity OF this issue of
bonds hrs been examined into and approved
by our counsel. Messrs White d Oarucu,
leading LAWYERS Of Norfolk. Va.
We especially recommend these bonds CD
saving INSTITUTIONS, hiNclhiits' uhD ouitislO
whom absolute security Is greater object
than 20 high rate of instant.
The bonds are ~ iccmablc after 1910 al par,
OF the pleasure Of the city.
THOMAS BRANCH * co.
Bankers. Richmond. Va.
JOHN l.. WILLIAMS a son.
May. 1890. Bankers. klcnmond, Va.
\ fun report OF tie affairs and finances Of
Portsmouth may bee found ON pages ~ and
- Of John l.. Williams & sons Manual ol
InNr tmcuis tor 1880.