The times. [volume] (Richmond, Va.) 1890-1903, 1890-06-03
sANKEas AMI sROHEAs
$4,000 S 41tH q u. f : III

- CU.U UO MOUTH, VA, XXX /
CE VI. 3O,YEAR BONDS, DAIEp JAZZ
AIRY lsT 1890 INTEREST PAY % DIE /
JANUARY AND JULY.
We control and offer for sale. al par ana
accrued interest, AM recommcnd 70 lnNSs-
tors. the above described bonds. reherNng
tine right (Which will very probably bo cA.l-
ciscdl To advance the price at any Tine "lul-
out notice. ,
portsmouth is 70 conservative and growing
city with "A population Of 1900. most nd-
vantageOusly situated on Norfolk haipor' OPP
pOsite the city Of Norfolk, Va.
it may now be considered piacti'hllN w
outlet and ocean terminus oi thr'e great ldl,-
road systems, to.wii 1he Seab )afd Air Line,
the Atlantic Coast Line. and the Richmond
and Danvillc, the two latter systems fesch-
ing the ocean over the Norfolk and Caiollla
Railroad completed Naich, le3ol, NhNu
they Jointly own. extending irom lafboro, y
c.. 10 Portsmouth, distance oil ABOUT iVV
miles.
made To the railroad facilities OF the pot, ny
the opening ia February, 1890, 0l me Ntldn-
Tie and DanNillc railroad from Portsmouth
To Danyille, which road is now being extend
ed under the charter Of another company INTO
the rapidly developing mineral region o.
Ne lake the following extracts from let
ter lust received from MI. james II. Ioomer,
the chairman of the Finance Committee Oh
the Common Council OF Portsmouth, VINO.
I
officially as follows:
Danyillc railroad has already done imuch TOT
the city and we are hoping for an increase
of business In all lines. PORTSMOUTH
has never regulated any OF her dcDls' ana
| TO-DAY there is no claim al any KIND against
| the city due and UNI aid
! for 1899 WAS about ,lGooOOO Ihe true Fal-
uatiOn for that year was conscrNatlFtly tsil-
| ana Ted at $4,000, 900. Since the close OF uie
| wear. new and important railroad Dnes nave
/ been opened aud other advances IN the
growth and pro perity OF the city nave taken
place. -,
me assessment now being made should
show very material increase inNaiues ol All
/ kinds. 90, -, .
The city tax rate OF Portsmouth Is $50, the
! same as That OF Norfolk.
The total bonded debt including this Issue
OF bonds, il s59l 300, OF about SID per capita.
Tie per capita debt Of Norfolk, for whose .
per cent. bonds inS has been bid, Is So, me
bonded debt per capita OF DanNlie, W., 4
city but little larger Than Portsmouth, ana
whose 3 per cent. bonds also cpIiiniah1 q ~ ~
MUM, h SIS. Al par and interest THESE
arc decidedly the cheapest anu most attiac'
tive high grade municipal bonds IN tue STATE
The available assets Of the city are valued
al about $500. 900, including one-hali interest
| IN the Norfolk County Ferries, sllO,OoO' aho
| public buildings valued at So3,OoO.
The legality and regularity of THIS issue o.
bonds mas been examined into and approve,
by Ouc cOunss, Messrs. Wnite & Oarhe''
leading LAWYERS Of Norfolk, Va.
| We especially recommend these bonds u
savings institutions, fducaries, and others t'
whom absolute security Is greater once
than hleh rate of instant
The bonds are redeemable AFTER l3lO ~ par
al the pleasure OF the city.
THOMAS BRANCH & co,
Bankers. Richmond. Va.
JOHN l.. WILLIAMS 4 son.
NAV. 1890. Bankers, Richmond. Va.
A full report of the affairs and finances o
Portsmouth NAV be found on pases 81 an'
81 of John l.. W illiams X Sons Manual q
Inye,tmenfs for 1890.