The times. [volume] (Richmond, Va.) 1890-1903, 1890-06-12
EsK YOUR GROCER FOR HE-No TEA.
AND TsKENo SUBSTITUTE. BEWARE
OF mutations.
BANKERs And saUAES.


We control and offer for sale. at par and
accrued interest. ana recommend % inVes'
tors. the above described bonds, rcservinl
the right (Which Will very probably bee eNet-
cisedl toadyance the price at any time With
out notice.
Portsmouth is a conservative and growing
city. with population Of l2.COp. most ad-
vantageou-ly situated on Norfolk llarbor, OPP
pOsite the city OF Norfolk. Va.
10 may nOg be considered practically the
outlet and ocean terminus of three great rail-
road systems. tO.wit: The Scab)ard Air Line
the Atlantic Coast Line. and the Richmond
and DanVillc. the two latter systems reach
ing the ocean over the Norfolk and Carolina
Railroad completed March, $500 which
they Jointly own, extending nom Iaiboro, y
g.. 10 Portsmouth, a distance of about loo
miles.
resides these roads. great addition was
made tO the railroad flclllics OF the port hA
the opening IN February, 1890. OF the ATTAIN
tie and Danyile railroad from Portsmouth
g. nanville, which road is now being extend
cd under the charter of another company INTO
the rapidly developing mineral region al
southwest Virginia.
We take the following extracts from LETT
ter Just received from Nh. James II. Toomer
tine chairman of the Finance committee of
the Common Council Of Portsmouth, who
I'M Ter date of April 2Sth, 1890. writes ne
officially as follows;
"lho opening of fhc Atlantic and
lanyillc Railroad has already done much for
the city. and we are hoping for am increase
Of business I'm an lines. Portsmouth
has never repudiaied any of her debts, and
to-day there is no claim oi any KIND against
tie city due and unpaid '
The assessed valuation Of taxable property
for 1889 Was about 4 OOOOOp. the true val
untiOn for that year was cOuscrNatFclN csti-
u,ated af s6uOp.OOO. since the close Of the
year. new and important railroad lines have
been opened and other advances u the
growth and pro perity of the city have taken
pace.
lrc assessment now being made should
show a yers matcria, increase inNaiue> oi all
kinds.
The city tax rate OF Portsmouth is $50 the
same as that OF Norfolk.
Tie total bonded debt. including this issue
of bonds. Is s50l 300, OF about SD per capiln.
lhe per capita debt ol NouOlN, for Whose D
per cent. bonds los has been bid. is So. Tine
bonded debt per capita of DtuNilief Va, q
city but little larger than Portsmouth. pnd
whose per cent bonds also command bfc-
mium. IL So. AZ par and interest these
are decidedly the cheapest ana most alItdc-
tive high gudc municipal bonds ln tle state.
The available assets of the city are valued
at about $500 600 including ouc-hait interest
m the Norfolk County Ferries, ,llO,UOO, ana
public buildings valued at ;S3OuO.
The legality and regularity of this issue 90
bonds ms been examined into and approved
bv our counsel. Me,srs. " hlte bafnclf,
leading LAWYERS Of NoriOlk, Va.
We especially recommend these bonds %
saving. Institutions, nduciarlcs, and others no
whom absolute security IS greater object
than hlau rate al instant
The bonds are rcicemablc AFTER 1910 Ai par
al the pleasure of the city.
THOMAS BRANCH a co.
Bankers. Richmond, Va.
JOHN T.. WILLIAMS a. son,
May 1890 Bankers. Richmond, Va.
4 fun report of tie affairs and finances oi
Portsmouth, may Dee found on pages 81 and
- Of John J.. " illiams * sons Manual ui
lnye.tmcnfs tor $500.