The times. [volume] (Richmond, Va.) 1890-1903, 1890-05-16

G1SO OOn CITY OF PORTS.
= iDV. VOV MOUTH, VA, PER
CENT 3O.YEAE BONDS. DATED JANU-
AIRY I~I I~g1. INTEREST PAYABLE
JANUARY ANpJULl.

GENT. 30. y rAE IFNil-f IAIfb JANt-
jANCslH i>DJUiA.
Wecouuol and offer for sale. az par and
accrued interest AMI recommend 10 lnNes-
f.f~ fI. above described bonds. TcSerNing
f.. right (which VIII very probably bee eXer-
c.ei foadNance tuc price at any time with
N.f notice.
Portsmouth is % conservative and growing
CITY with 60 population of 10000, most adj
saufaecuus.v situate on Norfolk Harbor Op-
rosItc The cItN oi Norfolk. Va.
10 muF u0w Doe considered practically the
outlet and ocean terminus of three great rail-
road systems. to.WIi: The Seah1ard Air Line,
thc Nfnn. Coast Line. ana The Richmond
aui luuVillt. fhe two latter systems reach
INE flD ocean over the NOiiplk ana Carolina
Railroad completed March, $500. which
they jointly own, extending from ldrhoro, y.
e.. 90 Portsmouth, distance OF about 100
miles.
Besides these roads, "a great addition was
made Co the railroad facilities of the port by
the opening 90 February, 1890, of the allan
tIr ANA DanNillc railroad from Portsmouth
fo ptnNille. which road is now being extend
ga under the charter OF another company into
the rapidly developing mineral region 81
southwest Virginia.
Ne lake the following extracts from "a let
far Just received from AI. James II. IoOmer,
ihc chairman of the Finance Committee OF
the Common Council Of Portsmouth,, who.
un Ter date of April 2sth, 1890, writes us
officially as follows.
'Ihc opening Of the Atlantic and
Iauyillc railroad has already done much Tor
fac city. aud We are hoping for an increase
i.f ilf.fuess fn AN lines Portsmouth
hi. never repudiated any of her debts, and
TODAY there is no claim Of any Kind against
the city due and unpaid
flr 1850 was about s f,OOO.OOO. The true val
uHtiou for that wear was cOnserNallNely tsu-
mated at sG.OOl.OuO. Since the close OF the
wear. new and Important railroad lines nave
a |IH.. 4 III
growth and prosperity of the city nave taken
Ile assessment now being made should
show very material increase inNalues oil all
kinds. 49,.
Ihe city tax rate OF Portsmouth is Sl.oO, the
Same as That OF Norfolk.
Inc Total bonded debt. including this issue
ofh0uds ia s59I BOO or about Si5 per capita,
1.. mr. cttita debt Of Norfolk, for whose
nef cent. bonds lOS has been hid, Is -, me
bonded debt per capita OF DdhNllle. ' d.,
cIfy hut little larger IMAM PORTSMOUTH anu
whose = ucr cent. bonds also command a pre-
ruIurn + s8S Al par and interest these
are decidedly the cheapest and most altiiic-
tive high grade municipal hohd. III thv ot"'O,
The available assets Of the city are Naiueu
al aDOut $3.50 900, lnclullng One-hai interest,"
len tb. Norfolk County Ferries, $4,000, ana
public hulldings valued at Ss3,Ooo.
Tho legality AND regularity OF TINS issue OIL
bonds hls been examined mo anu "pPlNNVu
by our counsel. Massrs. Whlie naihet''
leading LAWYERS OF Norfolk. Va.
Ne especially recommend these bonds 10
savings Institutions, n1uciarics, and othefsio
whom absolute security Is "a greater oi9cct
Than hifh rate OF instant.
Tire bonds are rciccmable after 1910 Al par,
at The pleasure Of the city.
THOMAS BRANCH q co.
Bankers. Richmond, Va.
JOHN T.. WILLIAMS & son,
May, 1890. BANKERS honin"hu' va
a fun report OF the affairs and finances OF
found 81 and
- Of John H. " illams a sons Manual Of
Investments for lo;D.