[New York? 1871]. Folding pamphlet, 6 x 17 inches. Separated along one fold. A few later pencil annotations. Light wear and tanning. Good plus. Item #761
A scarce advertisement for bond investment in the Northern Pacific Railroad, issued in 1871 during the first great construction push on the line. Although the company was founded in 1865, ground was only broken on construction in 1870 after considerable backing by Jay Cooke. This pamphlet outlines the plans for the railroad to be built from St. Paul to Portland and Seattle, the prospects for passenger and freight business upon completion, and the extent of the land grants afforded the railroad by the federal government. The text goes on to describe the financial instruments on offer, their advantages over Treasury bonds (chiefly, a greater yield at 7-8% vs. 5-6%), and their security against the commercial and financial assets of the railroad as well as its land grants. With a map of the proposed route on the rearmost panel. A scarce call for investment in the Northern Pacific from its early history.