The times. [volume] (Richmond, Va.) 1890-1903, 1890-05-31
HANKgRs AND BROKEBs

$3.50. 600 S S5EH OF Va. f : FFIi
CENT. 8O-YEAR BONDS. DATED JANi-
AIRY 1sr. 1880. INTEREST PAYABLE
JANUARY ANDJULN.
We control and offer for sale at par and
accrued interest. ana recommend TO inyes-
tors. the above described bonds, rescrvng
the right (Which will very probably bc eXer-
ciscdl 10 advance the price al any time with
ont notice.
Portsmouth is q conservative and growing
city. with a population Of 10000, most adj
yantagco situated on Norfolk iimDOf, Op-
pOsifc the city of Norfolk, Va.
/ "a may now be considered practically the
outlet ana ocean terminus of three great raj
road systems. tO-wif: i hc Scab)ard AIT llne.
TIRE Atlaniic Coast Line. and the Richmond
and uanvlile. the two latter sysienis reach
ing the ocean over the Norfolk and Carolina
Railroad completed March, lo9pl. Mhlch
they Jointly own, extending from IaruOro, \.
C.. 10 Portsmouth, distance Of about 100
miles.
Htsidcs these roads, a great addition was
made 20 the railroad facilities of the porl by
the opening in February, 1890, Of The ATTAIN
tic ANA DanNille Railroad nom Portsmouth
To DanVillc, which road is now being extend
rd under The charter of another company into
The rapidly developing mineral region OF
~Outh west Virginia.
We take the following extracts from let
ter just received from Nh. James II. Ioomer,
the chairman of the Finance Committee OF
the Common Council Of Portsmouth. who.
un Ter date of April 2olh, 1890, writes las
officially as follows:
: che opening Of the Atlantic and
nanyille kailrOad has already done much Tor
The city. and we are hoping for an Increase
of business in all lines. Portsmouth
has never repUdiatcd any Of her debts and
to-day there is no claim of any Kind against
the CITY due and uuIall
The assessed valuation of taxable property
for 1850 WIS about Il. 600. 600. The true val
"a
mated at S6,OO1.OOO. since the close OF The
year. new and Important railroad lines have
been opened aud other advances in the
growth and property Of the city have taken
he assessment now being made should
show a very material increase invalues Of all
kinds.
The CITY tax rate Of Portsmouth is 81 so, the
same as that of Norfolk.
The total bonded debt, including this issue
of bonds, is S59l 300, or about clD per capita.
The per capita debt of Nouolk. for whose
uer cent. bonds 1OS has been bid, is $50. The
bonded debt per capita Of DanVillei Va,
CITY but little larger than Portsmouth, and
whose per cent. bonds also command a pre-
MUM. IL SOS. AT par and interest these
are Geci iedIV the cheapest and most attlac-
tive high grade municipal bonds IN me state.
The available assets of the city are valued
az about s36O,OOO, lncluilng One~hlli interest
IN the Norfolk County Ferries, SllOOOO, ana
public buildings valued az $4,000.
The legality and regularity of this issue OF
bonds mas been examined into and approved
hV our counsel, Messrs. White * Garnet,
leading lawyers OF NOriOlk. Va.
We especial Is recommend these bonds 10
saving, institutions, dducaries, and others 10
whom absolute security is greater Object
than hlah rate Ofinstant
The bonds are reieemable after 1910 at par,
at The pleasure of the city.
THOMAS BRANCH & CO..
Bankers. Richmond, Va.
JOHN L. WILLIAMS q son.
May, 1890. Bankers richmond, Va.
4 fun report Of the affairs and finances of
Portsmouth may be found ON pages 81 ana
~ of John l.. " iliaIns X sons Manual Of
Investments Tor 1870.