| From the Raleigh Register |
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| February 11, 1863 |
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| To Capitalists |
| The Alabama & Mississippi
River{s} Railroad Company of Alabama,
will offer for sale at public auction, to the highest bidder, (not
less than par) on Wednesday, the 4th day of March, 1863, at the Bank
of Selma, in the City of Selma, $400,000 bonds of the Company, dated
January 1st, 1862, and due January 1st, 1875, and $42,000 bonds of the
City of Selma, dated January 1st, 1862, and due January 1st, 1882. The
last named bonds will be endorsed and guaranteed by the Railroad
Company. All these bonds bear 8 per cent interest, payable semi
annually, at the Commercial Bank of Alabama, at Selma, with coupons
attached for the interest. The bonds of the Company (interest and
principal) are secured by a mortgage, duly executed and recorded, on
the entire Railroad of the Company, with all its machinery and lands,
and franchise, and other appurtenances. The road commences at the City
of Selma, where it connects with the Alabama & Tennessee River
Railroad (completed 135 miles,) and now being extended under a
contract with the Confederate Government, to Rome, Georgia, and with a
daily line of steamboats, plying between Selma and Montgomery, and
extends West through a well cultivated and very fertile region via
Uniontown and Demopolis, about 77 miles, and is connected by means of
the Northeast & Southwest Alabama Railroad, with the Mobile &
Ohio, and Southern (Mississippi) Railroads, at Meridian, Mississippi.
Besides its very marked local advantages, securing to it a large local
business, this road holds a most favorable position, in the great
Eastern and Western line of travel between Texas, Arkansas, Louisiana
and Mississippi, and the Northern and Eastern portions of the
Confederacy, affording the most direct and shortest route from
Vicksburg, and all intermediate places to the Capitol of the
Confederacy, and the South Atlantic cities. -- Although the route
through from Selma to Meridian has been opened only within the last
few weeks, and is not yet working as regularly as it will, so soon as
the arrangements in progress are completed, the income already far
exceeds the sum required to make good the bonds proposed to be issued.
In short, it is believed, that no better securities than those bonds,
can be found in the Confederacy. Two prior liens exist, to wit: a
mortgage to secure $1509,000 bonds of the Company, due January next,
to be paid out of the proceeds of the bonds now offered; and which
will be received in payment for the latter bonds. Second, a mortgage
to secure $150,000 advanced by the Confederate Government for the
completion of the road and payable in 1872, unless sooner discharged,
as expected, by transportation for the Government. |
| Sealed proposals or bids,
directed to the undersigned at Demopolis, or W. S. Knox, Esq.,
Treasurer, at Selma, (who on application will give any information
desired) will receive due attention. |
| G. G. Griffin, President |
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