The times. [volume] (Richmond, Va.) 1890-1903, 1890-05-24
BANKERS ard BEOHI-Es.
GtEO OOO CITY OF PORTS.
SIDUsUUU MOUTH. VA, ; PR
cent. aO2YEAR BONDS, DATED JNN,l :
AIRY 1sr. 1890. INTEREST PAY ABLE
JANUARY AND JULY.

! We control and offer for sale, az par ana
accrued interest, and recommend 10 intt'-
| tors. the above described bonds. iescl Eln-
! the right (Which VIII very probably Tee tN- r.
| cisedl to advance the price at any time "iiii-
Portsmouth is q conservative and growii
city with q population Of l2.uut, most "t-
| vantageously situated on NollOlA ll'iDoi' "l-
| posite the city OF Norfolk, Va.
| IL NAV nov be considered plactlcallN ih,
! outlet and ocean terminus of three great fal e
| road systems, tO-wii: The SeaD)atd AIT Ll"t p,
| the Atlantic Coast Line. and the ltchlhoith
and Danville, the two latter systems rcach-
! ing the ocean over the NOnOl1 and Oaroli 90
! Railroad completed March, legO', Whl. ID
| they Jointly own, extending nom laI"oi'. ~.
! c.. 10 Portsmouth, a distance OF about 10
| miles.
Besides these roilds, great addition WIS
! made 10 the railroad facilities of inc poii 10Y
! the opening i'm February, $500, OF th' -tli'i-
| tie and DanNiile Railroad from Iottsinou u
| to Danvillc. which road lis now being extend
! ed under the charter of another company ln.D
| the rapidly developing mineral region '.
| southwest Virginia.
Ne take the following extracts from LEFT
! ter inst received from Nr. James II. loonti,
| the chairman of The Finance committee Oh
! the Common Council OF Portsmouth,, VINO.
! un Ter date Of April Z5tl, l59O, writes Us
officially ms follows:
. .Ihe opening of the Atlantic aud
| panville railroad has already done much Tor
tie city. and We ae hoping for an n .,ie,,
/
has never repudiatcd ans of her debts, iihl
! TODAY there is no claim OF any kind again NJ
! the city due and unpaid
! The assessed valuation or laNanle piop-il
! for 1889 was about Si.OOOOOO. The true F.i-
uati0n for that year was cOn>erNaliNciy oslo
matted at $1,000 900. since the close ol inc
year, new and important railroad linc9 nag
! been opened and other advances IT'D ine
| growth and pro peflty OF the Guy HhFe l""'''
lie assessment now being made should
show a very material increase IN values ol "il
| kinds.
The city tax rate OF Portsmouth Is slSO, thc
| same as that OF Norfolk.
The total'bonded dent. including this issue
of bonds, j. S59l 300, or about 10 per cHlIli.
The Der capitl debt of Norfolk, for whose .
| per cent. bonds JOS has been bid, Is So. l1e
/ bonded debt par capit1 of D"nNlllei Va,
| city but little larger than portsmouth, ah"
whose per cent. bonds also command "a Nic-
MUM. IL SOS. Al par and interest These
are deciI edN the cheapest ana most attiir-
| tive high grade municipal bonds in tne state.
The available assets OF the city are valued
at about $3.50 900, Including one-hau lhlti's,
| ia the Norfolk County Ferries, ellOpOO' ana
public buildings valued nj $4,000.
The legality and regu auty OF thls ISSUE ui
bonds mas been examined into and approved
by our counsel, Mcssfs Nhlte ~ '"lHtD''
leading lawyers Of Norfolk, Va.
We especially recommend these boni' I'D
saving, Institutions, flducarics, ana othcisi o
whom absolute security Is greater ol9''t
than "a high rate of instant
The bonds are rcdccmoDlc ailei ioiO hl litl
at the pleasure OF the city. - 49,
THOMAS BRANCH & CO..
Bankcrs. Richmond, Va.
JOHN /. WILL ANS a son,
Nav 1890. Bankers. Richmond, VI.
4 full report Of the affairs and finances az
Portsmouth may be found on pages 81 anu
- of John J.. W Villains y sons MANUAL oi
Investments fOr 1890.