The times. [volume] (Richmond, Va.) 1890-1903, 1890-05-22
sANsEas ARD saOsEas
GtEO OOO CITY OF PORTS.
SIDU.VUU MOUTH. VA, . PER
Gent 3OIYEAR BONDS, DATED JAEN,J =
AIRY 1sT. $500 Interest fAl Api'H
JANUARY ANDJULI.

We control and offer for sale. at par ana
accrued interest. and recommend 10 lnNes-
tors inc above described bonds. fcscrNlht
the right (Which Will very proanlN Zee eArl-
ciscdl 20 advance the price al any time "lln-
out notice. $500, .....,,.,
CITY. with "a population OF $4,000. most a1-
vantageOuSiy situated on Norfolk hhippf' OPP
posite the city OF Norfolk, Va.
IL may now be considered practically me
outlct and ocean terminus OF three great rai'-
road systems, tO-wil: The SeaD)afd Air Line;
the Atlantic Coast Line, ana Inc NlchWoilh
ana Danylle. the two latter systems reach
inns, fine ocean over the Norfolk aud Carollua
Railroad completed March, $500, when
they Jointly own. extending from IarDOro, y.
g.. To- Portsmouth, distance Of about 100
miles. ,,,., $3.50.
Besides thc.e roads, "a great addition was
made 10 the railroad facilities oi the pprl Dy
the opening in February, 1890, OF me Atlah-
tic and DanNille haiirOad from Portsm"ui "a
10 Danvllc, which road Is now Delhg eAleuu-
eel under the charter Of another company INTO
the rapidly Developing hlicfal loEiOi vi
southwest Virginia.
Wc take the following extracts from let
ter lust received rom Mr.. James II. ioohei,
the chairman of the Finance committee vi
the Common Council Of Portsmouth, Who'
un Ter date Of April 2Sth, 1880, writes us
officially rs follows:
"The opening Of the Atlantic aud
Danville railroad has already done much Tor
y.
of business in all lines. ioI taIilOutii
has never repudiated any OF her deDts, ana
TODAY there is no claim OF any kind against
the city due aud unpaid
The assessed valuation OF taNaDic property
for 1889 was about "a 100000. The true val
uation for that year was conseryatiVely esti-
mated at s6.OOO,OOO. Since the close OF the
year, new and important railroad hhts nave
been opened aud other advances IN the
growth and pro ,perity OF the city nave taken
place. ,,
The assessment now being made should
show a very material increase inValues oil all
kinds.
The city tax rate of Portsmouth is sl.S0, the
same as that OF Norfolk.
The total bonded debt including TINS issue
OF Bonds Is S59l 100, or about rlO per capita.
The per capita debt OF norfolk, Tor whose
per cent. bonds los has been bld, Is So Inc
bonded debt per capita OF DanVillei va, a
city but little larger than Portsmouth, ana
whose per cent bonds alss command pre-
MUM, il SOS. Al par and interest these
are decidedly the cheapest ana inost atIitc-
tive high grade municipal bonds in HE state.
The available assets Of the city are valued
at about s36O, 600 including One-halt interest
in the Norfolk County Ferries, sllO'VOV' ana
public buildings valued M eS3OOo
The Legality and regularity OF this hsue oi
bonds has been examined into ana approved
by our counsel, 'Messrs. White * Gafnell,
leading lawyers OF Norfolk. Va:
We especially recommend these Donds 10
saving, Institutions, flduciarles, and others 10
whom absolute security Is a greater OBJECT
than a high rate Of instant.
The bonds are redeemable after 1910 at par.
al the pleasure of the city.
THOMAS BRANCH & co.
Bankers Richmond, Va.
JOHN l.. WILLIAMS x son,
May, 1890. Bankers kichinohu' va
A full report Of the affairs and finances Of
Portsmouth may be found ON pages 81 and
81 OF John l.. W illiams a sons Manual OF
Inyes tments for 1890.