The times. [volume] (Richmond, Va.) 1890-1903, 1890-05-18
p MIXERS AND BROKERS.
et5n nOO CITY OF PORTS,
SlOU.UUU MOUTH, VA. . PER
Cent. 3O-YEAR BONDS, DAIED JAN, - =,
AIRY 1sr. 1890. INTEREST PAY ABLE
JANUARY AND JULY.

AIRY lsT 1890. INTEREST fAl ADA-
JANUARY AND JULY.
We control and offer for sale, az par and
accrued interest. ani recommend I'D lilNNa-
TORS. the above described bonds, reeciFihs
the right (Which Will very pronaDly nt eN.i
ci.ed) to- advance the price al any time "l1u-
out notice. ..
Portsmouth is q conservative and growing
city. with q population OF y. ~. ht"et "'-
vantageOUs.v situated on ,ollolN Alai"ol' "r
posite the city of Norfolk, Va.
n may now be considered practically me
outlet and ocean terminus OF three great rdi. .
road systems, iO-wil The sean jiiG AT Llu' F.;
tire Atlantic Coast Line. ana ih. hlchiuoii ID
and Dauvilc. the TWO latter systems feach-
iu,, the ocean over the NOuOlk ana taiuil Il
Rallroad completed March, 1870, Whlrll
fheV Jointly own. extending nom Ialuoio, \.
e. To Portsmouth, distance Ol ABOUT wv
Eesides these roads, a great addition was
made to the railroad facilities OF the port hy
the opening I'M February, $500, OF me Nll,., 70
tic and DanNille Railroad nom Ioitaih'u Al
20 panVille, which road Is now peihg tAleli'-
ed under the charter of another company mo
the rapidly developing mineral region "l
southwest Virginia.
Wefale the following extracts from a let
ter just received itpia Ni james II. iVo'''' ,
the chairman OF the Finance committee Oh
the Common Council OF Portsmouth, "N''
unler date Of April 2Sth, 1880, writes us
officially as follows:
% cine opening OF til' = iiHNtl' '-.'
panVille Railroad mas already done inucl lui
the city. and we are hoping i,I an lhcIeas,
of business i'm an lines. portsmouth
has never rcpudiated any of her depis, lNt
today there is no claim OF any klhu against
the city due and unpaid
The asses sed valuation Of taxable property
for 1889 WAS about .i,O0OOoo. The true Val
uaiiOu for that year was con eiNau FtlF csH-
mated az 5000, 1900. since tne close Oh ti'
wear new and important railroad lines nav e.
growth and pro -pcrity OF the city nave t"N'h
place. ,...,.,
Ihe assessment now being made should
show very material increase in values Oh au
kinds. .,ooa.1
The city tax rate of Portsmouth is sl.sO, the
same as that of Norfolk.
the total bonded debt. including this issue
Of bonds, is s59l 800, orabout SO per capita.
The per capita debt OF Norfolk. for whose
per cent. bonds los has been bid, Is -; inc
bonded debt per capita of Danville, va, T,
city but little larger than Portsmouth, ana
whose per cent. bonds also command pre-
MUM. is SOS AT par and Interest these
are decidedly the cheapest ana most allh'-
tive high grade municipal bonds IN the STATE;
The available assets OF the CITY are valued
a about $3.50 600, including One-hai interest
In the Norfolk County Ferries, elIo,yO0' ana
public buildings valued at $4,000.
The legality and regularity OF tils ISSUE az
bonds has been examined into and approved
by our counsel, Messrs. White g. tuthell g
leading lawyers of Norfolk, Va.
We especially recommend these bonds %
saving Institutions, fiduciaries, ana others 10
whom absolute security Is greater onJrct
than a hIah rate Of Instant
The bonds are reiecmaDlc after 1910 80 par,
OF the pleasure OF the city.
THOMAS BRANCH q co
Bankers. Richmond, Va.
JOHN l.. WILLIAMS Il son,
May, 1890. Bankers Rchmohd' Va
A full report Of the affairs and finances OF
Portsmouth may be found ON pages ~ and
~ of ,Tohu l.. Williams * sons Manual OF
Investments tor 1890.