The times. [volume] (Richmond, Va.) 1890-1903, 1890-05-11
rAnKras Ann n..oKKE..
c1EO OOO CITY OF PORTS.
SlDU. UUO MOUTH. VA, , PER
CFNT 3O-YEAR BONDS, DATED JAN -
AIRY Isr. 1870. INTEREST PAY ABLE
JANUARY ANDJlLN

CENT. 3O-YEAR BONDS, DATED JAN -
AIRY ISL $500 INTEREST PAY ABLE
JANUARY ANDJULN.
We control and offer for sale. al par and
accrued interest an recommend 10 ihNts-
tors. the above described bonds, fcsctNlh-
tine right (Which VIII very pl"laniN u' ~, u
ci>cdI t0adyance tine price ut any tlihc WIN
portsmouth is conservative and growing
c.f, with "a population of 1900. most ad-
Nautagcously situated ON NoriolN iiAth"i' "l-
rosite the city OF N0riulk, va.
u may now bee considered piacOcallN me
oufiet and ocean terminus Oi three great ran 70
foad systems, t0 Wit: The Seab)ard AIT llne,
thr Allan ic Coast Line. and the klchmon }
and Uauyflle the two latter systems ne en-
mo tl,e or.nu over the Norfolk and Carroll a
nnflroad completed March, $500, whlch
fney Jointly own. extending nom larooio, ~.
a.. - Portsmouth, "a distance al about lOo
BESIDES these roads. a great addition was
riade to fho railroad facilities of the port 10y
the opening IN February, 1870, ol me AllHi,-
tie and UauNIlle lHllto1d nom lolt0i!'u'
ro Dauyille. which road is now being eNtehu-
el under the charter of another company ih'|
the RAPIDLY developing mineral region Oh
southwest Virginia.
Wctol,e the following extracts from let
ter lust received from Nj. James H. iv'h'i /,
thc chairman of the Finance committee Oh
tine Common Council OF Portsmouth, Nuo'
un icr date of April 2sth 1890 writes us
officially as follows: ...
che opening OF the Atlantic ana
uar,yflfe railroad has already done much Tot
tine CITY, and We are hoping Tor an lllcI'a9'
az business in am lines. PORTSMOUTH
has never rcpudiated any Of her dtpls' 'lt
to-day there is no claim of any KIND against
the city due and unpaid
for 1859 WIS about iOOOpD. Inc tr,' Nni-
uation for that year was con,erNdtN'IH ~
mated az s6OopMo since 5n' y'3 f,,,. h. ,,'
wear. new and important railroad llht nay =
been opened and other advances I'D ut
growth and pro ,pcrty Of the city nave taken
The assessment now being made should
show "a very material increase IN values "l I'll"
The city tax rate of Portsmouth is $50, Il G
same is that of NOftolk.
Inc fOtal bonded debt. including TINS issue
of bonds, is sl9l 300, or about so per y'
ILe nrr capita debt OF Norfolk. for whose
upr cent. bonds los Inns been bid, Is So Inc
bonded debt per capita OF btbNlhtl y a., d
CITY but little larger ihan portsmouth, anu
whose per cent. bonds also commune , '''-
MUM. + SIS. At par and interest thesc
arefpelpllv the cheapest ana most alllu'-
tive hieh ei,ide municipal bonds ln the 0i"t',
Theavainblc assets of the city are valued
al about s36rnOD. uclu ling one-hali lnleies,
ln the Nuilolk Count. Ferries. tllo''oo' "ilu
hubble buildings valued nt r~5,Ovp
The LEGALITY and rrgu arity ol th!s issue %,
bonds ms been examined INTO ana approves
bv our counsel. Mc~srs. hlle '"i"'''
leading LAWYERS of NoriOlE, va.
Ne ,sueciaIly rec lmmcnd these bonds u
saving, institutions, hduclarlcs, and others 10
whom absolute security is greater "nJec'
than "a hl-h rate OF instant 900
The bonds are re- ircuahlc alttI lolO ~ pan
at the pleasure of the city.
THOMAS BRANCH a 60
Bantcr-. Richmond. va.
JOHN J.. WILLIAM * son.
May, 1890. Bankers lN'"'H"""' '"'
4 fun report of the affairs and finances "l
Portsmouth may Doe found on pages 81 ana
y of John Nv Williams a Son Aaiiu"i OIL
lnye tmrnts for leoO.