The times. [volume] (Richmond, Va.) 1890-1903, 1890-06-04
pANAEas AZ nROaNns.
S150.00O S SIIY OF 9A P : s.

$3.50, 900 S S5SH OF Va. f : FFS
CENT. 3O,YEAR BONDS, DATED JANU-
AIRY Isr. 1890. INTEREST PAYABLE
JANUARY AND JULY.
We control and offer for sale. nc par and
accrued interest. AMI recommend 10 inyes-
tors, the above described bonds, reserVing
the right (Which Will very probably be eNer-
cised) to advance the price az any time with
out notice.
Portsmouth is conservative and growing
city. with a population OF 1000. most adj
vantageOuslv situated on Norfolk Harbor, Op-
posite the city OF Norfolk, Va.
IL may nov be considered practically the
outlet ana ocean terminus of three great rail-
road systems, iO.wit: The Seab)ard AIT Line,
the Atlantic Coast Line. and The Richmond
and DanVillc, the two latter systems refch-
ing the ocean over the Norfolk and Caroilna
Railroad completed March. 1890. which
they Jointly own. extending rom TarbOro, y.
C.. to Portsmouth, a distance OF about 100
miles.
BESIDES these roads, a great addition was
made to the railroad facilities Of the port by
the opening in February, 1890, OF the htlan-
tic and Danyille hallroad nom PORTSMOUTH
10 DanVille which road Is now being extend
cd under the 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 III. Ioomer,
the Common Council Of Portsmouth, who.
un Ter date Of April 2Sth, 1880, writes us
officially as follows:
'1he opening Of the Atlantic and
Danvilc 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
to-day there Is no claim OF any kind against
the city due and unpaid
The assessed valuation of taxable property
for 1889 was about si,OO0O0O The true vel
uatiOn for that year was cOn.ervatVely estl-
mated AT SCOOP 900 since the close OF the
year. new and important railroad lines have
been opened aud other advances IN the
growth and pro pefity Of the city have taken
place.
Ihe assessment now being made should
show a very material increase inyalues OF all
kinds.
The city tax rate OF Portsmouth is $50, the
same as that Of Norfolk.
The Total bonded debt. including this issue
Of bonds. j. sj9l ,aOO Orabouf SD per capita.
Tie per capita debt of Norfolk, for whose .
per cent. bouds lOS has been bid, Is So. Inc
bonded debt per cupita Of bdnNlile, a., q
CITY but little larger than Portsmouth, and
whose per cent. bonds also command a pre-
MUM. II SOS. At par and interest these
arc decidedly the cheapest and most attiac-
live high grade municipal bonds ln the STATE
The available assets Of the city are valued
az about S;6OOoO, lnclu ling Onc-half Interest
IN the Norfolk County Ferries, $4,000, uud
public buildings valued al $4,000
The legality and rcgu 0iltN OF TINS issue oi
bonds has been examined into and approved
by our counsel. Messrs. White * Gamcu
leading LAWYERS of Norfolk, Va.
We especially fcclm mend these bonds o.
saving, institutions. nduciaries, and others 10
whom absolute security Is a greater object
than hIgh rate Of instant.
The bonds are rclecmablc ate 1910 Al par
OF the pleasure of the city.
THOMAS BRANCH & co.
Bankers. Richmond, Va.
JOHN /. WILLIAMS x son,
May, 1890. Bankers Richmond, Va.
4 full report OF the affairs and finances OF
Portsmouth may be found on pages ~ and
81 of John l.. W iliams * sons Manual OF
Inye, tments for 1890.