The times. [volume] (Richmond, Va.) 1890-1903, 1890-05-23
sAngEEs AND psoK2Ks.
$50, 1000 & G5tH o "a, F - F 4.
CENT. 3O-YEAR BONDS, DATED .JA,NN1.-
AIRY 1sT 1890. INTEREST PAl ABLE
-IANI-ARN AND JIIN.

We control ard offer for sale. at par ami
accrued interest, and recommend ID inNt'-
tors. the above described bonds, icsciflh-
the right (Which Will very probably Dee cN. t.
cised) To- advance the price at any time Will
out notice.
Portsmouth is q conservative and growing
city. with population Of l2nou most an-
vantageOusy situated ON Norfolk ilAiuoI' up
pOsite the city Of Norfolk, Va.
10 may now bc considered practically lhe
outlet and ocean terminus OF tfrDr great i.4--
road systems, tO-wit The SeaDJ1il Alf iln';
| the Atlantic Coast Line. and the hichmoh ]
and DauVille, the two latter systems reicf-
ing the ocean over the Norfolk aud Cafoli
Railroad completed March, lo.Jl. "hlci
they Jointly own. extending liolh lhfn'l", ~.
C.. to Portsmouth, distance 81 about 100
miles.
besides these roads, n great addition was
made to the railroad facilities OF inc lois 10y
the opening i'm February, 1890, Of The Allhn-
tic and Danyiile Railroad from Portsnoul
TO DanyIlle. which road is now being "Nteut-
ed under the charter of another company ni D
the rapidly developing mineral region ''
southwest Virginia.
We lake the following extracts from lc.-
ter lust received from Nj. James II. loomcf,
the chairman of the Finance committee 'i
the Common Council of Portsmouth,, wnn,
un Ter date OF April 2Sth, looO, writes us
officially rs follows:
FIhe opening Of the Atlantic and
Danyille railroad has already done much Tor
the city. and we are hoping for am increase
OF business i'm all lines. Portsmouth
has never repudiated any OF her DEBTS AMI
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.OOO,OOO. The true Nil-
uation for that year was cOnservatiVely e>.-
mated at s6,OOo,OOO. Since the close az th'
year. new and important railroad lines have
been opened and other advances IN On"
growth and pro perity OF the city nave taken
place.
show a very material increase In values OF ali
kinds.
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, 300, or about : 10 per capita.
The per capita debt OF Norfolk, for whose >
per cent. bonds lO5 has been bid, is So. IT,"
bonded debt per capita OF Ddnvile, Va.
city but little larger than Portsmouth, and
whose > per cent. bonds also cpminani q nit-
MUM, IL Sos. At par and interest Iir'c
are decidedly the cheapest and most altiaf-
tive hign grade municipal bonds in the state.
The available assets of the city axe valued
az about s36o.OOO. including one-halt interest
IN the Norfolk County Ferries, sllO,OOO, ana
public buildings valued at $4,000
The legality and regularity Of TINS ISSUE OF
bonds has been examined into ana approved
bV our counsel, MeSsrs. Whlte * Oorheti,
leading lawyers Of Norfolk, va.
We especially recommend these bonds 10
savings Institutions, fduciaries, ana Otheisio
whom absolute security Is "a greater oDlccl
than high rate Of instant. $3.50
The bonds are reieemaDlc after 1910 Al par
al the pleasure Of the city.
THOMAS BRANCH a co.
Bankers. Richmond, Va.
JOHN l. WILLIAMS & son,
Nav, 1890 Bankers, Richmond, Va.
A full report Of the affairs and finances az
Portsmouth may be found on pages 81 and
50 Of John l.. Williams & sons Manual Oh
Investments for 1890.