The times. [volume] (Richmond, Va.) 1890-1903, 1890-06-08

SIOU.UUU MOUTH. VA, PER
ONT 3O1YEAR BONDS, DATED JAM
AIRY lsT. 1880. INTEREST PAY ABLE
JANUARY ANDJULY.
We control and offer for sale. at par and
accrued interest, AMI recommend 10 lhNta-
tors the above described bondr. reserNihs
fhe right (Which Will very probably be excl
cisedt H. advance the price III any time with
porfsmcuth is q conservative and growing
civ with "a population Of $4,000. most at
vantageOuSlv situated on Norfolk tiaIDor' ol'-
posite the city of Norfolk. Va.
| n may now be considered piacNcallE lhe
outlet ana ocean terminus OF three great itl'-
road systems, ioNgii: The -eabJard AIT Line,
fbc Altar. ic Coast Line. and The Richmond
ana Danyilo the two latter systems reich
INC the ocean over the Norfolk aud Carolina
Railroad completed March, $500, winch
they Jointly own. extending rom IafDoIo: y.
g. 10 Portsmouth, distance OF about lOO
miles. ,,..,-.. $500,
resides the-c roads, q great addition was
made 10 The railroad facilities of the port by
the opening ina February, lsvo, oi thc Atliti-
| tie and DanNille lilfohd from loItSil'"'ii
to Danville which road is now being extend
cd undcr the charter of another company INTO
| the rapidly developing mineral region OF
southwest Virginia.
We lake the following extracts from iel-
ter lust received from Nj. James ii. I0Omer,
| The chairman OF the Finance Committee OF
| the Common Council Of Portsmouth, VINO,
un Ter date Of April 18th, 1880 writes IL
officially as follows; .,-..,. ,,.,
"Ihe opening OF the Atlantic aho
ranvilie railroad has already done much lvi
| the city and we are hoping for an increase
| OF business in all lines. lOilsliOu'i u
has never repudiated any Of her deOis, lid
| to-day there is no claim or any KIM "s"i"s'
| the city due and unpaid '
| The assessed valuation OF taxable property
| for 1889 was about s4.OOOoOO. me lrle 'ai-
uati0n for that year was cOnserNauNelF esu-
|.t.Ia. - ttf.. 4l. fl e
wear. new and important railroad lines nave
| been opened aud other advances III lhe
growth and pro peIity of the city have taken
| place. t,t
Inc assessment now being made should
show a very material increase in values OF an
The city tax rate of Portsmouth is $3.50, the
same as that of Norfolk. " ,.o
The Total bonded debt, including lhis issue
OF bonds. is s591 300, or about $40 per eaplIa:
The Der capita debt Of Norfolk, FOR whose
per cent bOuds los has been bid, Is So; me
bonded debt per capita OF DdnNiilel a. u
whose per cent. bonds also command pre-
MUM IL SIS. Al par and interest lhese
are decidedly The cheapest ana most al.l.c'
tive high grade municipal bonds IN tue o,'.'c ;
The available assets Oh the cry niv N i''1,
al about $3.50. 600, including One-hali interest,"
In the Norfolk County Ferries, ellO,oOo' uiiu
public buildings valued nj $4,000.
| The LEGALITY aud regularity OF TINS Issue oi
bonds has been examined mo anu "PfI '''. ~
by our counsel MeSsrs. White * utrhcu'
! leading LAWYERS Of Norfolk, Va.
We especially recommend these nonds 10
saving, Institutions. iiduclarlcs, ana othSis 10
whom absolute security - greater "'yoC'
| Than hIeh rate Of instant
The bonds are reieemabie after 1910 Al par,
al the pleasure Of the city.
THOMAS BRANCH < co
Bankers. Richmond, Va.
JOHN l.. WILLIAMS son,
May, 1890. Bankers hcnihohn, Va
4 full report of tie affairs ana finances Oh
Portsmouth may be found on pages 81 anu
! ~ of John j.. Williams a sons Manual OF
lnye tmenfs for 1880.