The times. [volume] (Richmond, Va.) 1890-1903, 1890-06-13


We control and oncr for sale. "a par and
accrued interest. ami recommend To inNes- |
tors the above described bonds, itseiFih-
the right (Which Will very prohAplN zee eNri-
clsedl 10 advance tine price al any time "i'h-
ont notice.
Portsmouth is n conservative aud growing
city. with population Of l2uVu, most "n-
yautagcOuslv situated on Norfolk liafpor' op
pOslte the city of Norfolk. va,
10 may nov be considered piactlcdiiy ti'
outlet ana ocean terminus of three great rail-
road systems, to-wit he SeaDJard ar Line;
the Atlantic Coast Line. and the tlcnmonl
and Ianyille, The two latter systems fe.ch-
ing the ocean over the norfolk and 'arolina
Railroad completed March, loYO), Whlcn
they iointly own, extending from Iarboro, \.
c. to Portsmouth, distance oil about lOo
miles. ,,.,
besides these ro us, a great addition was
made 10 the railrlad facilities OF me pofi by
the 0peafug m February, 1890, on The attain
re and nungiile Railroad from Portsmouth
o. Danyille, which road Is now being extend
cd unaer The charter of another company INTO
the rapidly developing mineral region %
sOutnWest virginia.
No take the following extracts from lct-
Ter lust received nom Mr. james II. Ioomcr,
the chairman Of the Finance committee ol
fhe Common Council 81 Portsmouth,, VINO.
un Ter date Of April 2sth, 1880 writes Us
- .ihe opening Of the Atlantic and
| lanviIle iSailro3d has already done much for
| the city. and We are hoping Tor an increase
OF business in All lines. tottsiiiou.l,
has never repuGiated any OF her DEBTS, and
/ to-day there is no claim OF any KIND against
/ the city due and unIhld
! The assessed valuation 81 taxable property
| for 1899 WAS about flOOO'Ooo. Inc true Val
! nation FOR that year was conserNatNely csti-
! ,iated at SG,OOn,OOO. Since the close Oi the
year. new and important railroad lines nave
! been Opeued and other advances IN the
growth and pro perity VI the city have u1Aen
'ihe assessment now being made should
show "a very matcria! increase in values OF all
! kinds. ,.,a, a..
The city tax rate OF Portsmouth Is sl.sO, the
1 same a. that OF Norfolk.
| The total bonded debt, Including TINS issue
o. bonds l. 1891 300, or about $40 pei capita.
The per capita debt OF Norfolk, mr. whose .
per cent. bonds los has been pa, Is So; Inc
bonded debt per capita OF ldnNlle, va, =
| city but little larger Man Portsmouth,, ana
! whose 3 per cent. bonds also command pre-
MUM, il SOS. AT par and interest these
are decidedly the cheapest ana most at,t.ic'
tive high grade municipal bonds IN the state.
The available assets Of the city are valued
at about $500, 900. inclu iing one-halI ntefes!
IN the Norfolk Comfy Ferries, sllO,ovo, ana
public buildings valued AT sS3.OO0
The legality and regularity OF TINS hsue o.
bonds mas been examined into ana approved
by our counsel Messrs. White & carneiI
leading LAWYERS OF Norfolk, Va.
We especially recommend these bonds u
savings institutions, tiduciaries, and others I,
whom absolute security Is greater Object
than a high rate OF instant
The bonds are reieemabie after 1910 Al par
al the pleasure Of the city.
THOMAS BitANCH & co.
hankers. Richmond, Va.
JOHN l.. WILLIAMS * son,
MAY, 1880. Bankers. Richmond. Va.
A full report of the affairs and finances @
Portsmouth may be found on pages III an'
81 OF John l.. W iliains x sons Manual
lnye. tments for 1890.