The times. [volume] (Richmond, Va.) 1890-1903, 1896-07-28

Dio1oed 81 $50 coo
The above real estate is subject 10 a
prior lien amounting TO only No.H@ for
the payment Of which the State has a j.
ready made ample provision by law, and
the University b. further forbidden by
Jaw 10 contract any other debt than those
above named without am express act or
the Legislature saLCtioning it.
Bur. besides this real estate. the loan
IS secured as the first lien upon personal
property. etc. Of present value largely
in excess OF the lean. and of the ultimate
value of over SJD,Ou1, from which II can
be realized fla full at any time in case OF
default IN the payment Of either principal
or interest.
Ii will thus be seen that. indopen lontly
OF any aid provided by the state, the
value Of the property pledged as security
for the bonds is lefter providing for said
50. 100 mortgage on the real estate more
than six times the amount ~ che loan.
The deed Of trust also further amply
secures the bonds 10y providing Tor IN
surance ON the buildings and the estab-
lshment Of a sinking fund 10 cover the
principal at maturity.
II may be added that the buildings
and Improvements already upon the land
include thirteen professors houses, two
hundred and ten dOrmit0ries FOR students,
the museum. gymnasium. inirmary, OBJ
serVatOry, hotels, bOardlng-hOuscs, lee
turc-rooms. halls. offices, and the henu-
ufuliy arranged grounds or the lnlNer-
ceeds Of tie loan and other contrihutione
already in hand viii make the buildings
more complete ana valuable than ever
before
The University is a free school for Nir-
.,inia studert and while 10 Is an inCor-
poratcd institution. the beneficial owner
shin OF IL Is in the state; and the state.
I'm maintaining It's pubnc scnooi system,
and protecting its interest IN the property
pledged for the bonds, would necessarily
FNn..H
curity therefor should by possibility fail.
Thc annual income Of the University .
$4,000 Its whole fixed charges for all
the interest and sinking funds (Which
have by law and under the terms Of the
deed Of trust 10 be met In preference 10
every other expenditure are less than
$4,000 per annum.
For seventy years, and during all the
vicissitudes through which every inan-
cial interest in the State has passed i'm
that time, tho University has continued
with "a steadily-increaSlng prosperity. and
IL stands now with renewed assurance
Of continued progress ana aa'anceme ~
but whether prosperous or not. the prin-
cipal and interest Of the bonds offered
are secured beyond doubt or question,
even II the doors of the institution shoulI
ba closed tomorrow.
A. Is submitted that an investment Is
seldom placed upon the market Offering
such inducements in the way Of undOubt-
"a and unGuestioned security, immunity
from taxation. ana so good rate or
interest: aud 10 investors seeking safe
and remuneratiye returns il affords an
opportunity rarely TO be met with FOR
placing their funds.
Issued by order OF the rector and
visitors, this 10Th day OF June. 1896
W c. y. RANDOLPH. Rector.
Attest.
L. r. WATTS.
MARSHALL MCCORMICK,
". HARMON.
Finance Committee.
The bonds above referred TO are now
Offered for sale.
For further Information. price OF bonds.
&c address JOHN NJ. WHITE,
JAMES ID. JONES,
Agents Cor Finance Committee,
jy2l-tu. tr&suGt CharlottesNille, va.