New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-11-07

tn lCHlGaN SOUTHERN RAIL
yaRQAD C0MPAN9-Si0O,U 900 SEVEN PTR
CENT MORTGAGES LQAN.-Se1ged proposals s,r tn S-n
Bonos ofle Michigan Southern Railroad COMPANY b,s
seen pr cent interest, VIII be received uEl In day q
These bords gre tssged under the provisions N ,,.
aci OF the Leisar, OF Michigan authorizing TIE Con5nsn
10 dispose OF or SCI Lheif obligations either within OF win
out that State such or prices as ra he srel 80,
ard # sold below par, 6e binding AZ ii sold ~
- phey are secnred by mortgage executed to Shepherd
hodes ''' y VIC Wy % 0'A N ''s' 0' ms O0nd-
This morgsge covers the entire line Of the compauys
Road III hlchlgar whether already built or hereafter 30 h.
constructed sid provides that bonds 70 amount ex
cens one million OF dollars all may he issued; cE which
amount not more shsn $1,000 can be issued uni AFTER Ia
hoaa saS nave been completed 10 Sulrges' Prairie as
lance OF miles from Lake Ere TO which point II win he
completed by the inst OF January next
The security offered for the bonds therefore orsAga
ten, and substantially the only leu upon road which
when complete 10 tie line OF Indiana viii hAya nssr
~ lao miles OF iran ane beside branch OF 10 naes ara
which VIII have cost, including the original OUTLAY ev he
of which 81, 5C00C0 Ill be represented by sto4k 's
The portion OF the road already in operation sbou, 70
miles yields an income ample protect The entire 9sbs
proposed 10 be created, and the length OF completed line
and consequent increase of revenue is daily increasing AZ
foing security which will place the payment OF lie ds6f
bevond all contingencies.
For August, lS5a. the earnings were sls.4l7 y. 70,
September $04SG These receipts derived rom The
completed road viii be added 10 within iSfse oo,St,
and viii be extended TO The St Joseph's River ndt,
State line early next Spring thus doubling The length
ofhe main line now IN operation
This road is part OF line Of Railroads. from
the City of NewYorh the Mississippi River, by way Of
the Erie Railroad and the Lake Shore Road, and Is an i'm
poriant link in the chain.
Nearly the whole OF this great line from NewYork to Tia
Mississippi River Is either completed or IL me course OF co.,
structon.
As The means for the construction OF the road ready for Tia
iron are provided By stock subscribed and being paid In
by regular uslmes and the proceeds OF the bonds arc
mainly required for the purchase OF iron heavy r a2
equipments believed that railroad bonds before a
public offer greater Involvement for safe Investment man
those of this Company.
The mortgage empowers Trustees IN case OF alrrs
pay the principal interest OF the bonds 10 uSe posss
eon OF the earnings or 10 sell H. on dua
notice. and apply the proceeds to the extngusenI OF Tie
debt
chancs Bank, the City OF York. Nov l, 1850 with
interest per per annu, payable eni-anrlsl
Nv in New York on the LIST Nov and Isl May Interest
warrants or coupons, attached 10 the bonds.
Four hundred thousand dollars OF The oonds are new O.
Sealed proposals for any amount not less than win
be received until the 18th day of November next
Proposals may be addressed to WlNSLOW, LANlEBA
co 50 Wal-st. or to Z. c. LGrcHFIELD, Treasurer -
Wast Endorsed Proposals for Michigan southern Kali
SSo0005 hnf the amount now oaeredl win be disposal
of absolutely and without 10 the highest bidder
The Company reserve the right 10 WIdraW e Ieinandf
If the offers not satisfactory.
All necessary ntornatos in relation to the bonds: toge
er with maps may be obtained by calling on WlNSLOW,
LANIER ( co or L. C. LrTCHFlELD. at either OF which
places copies of the bonds and mortgages can be had
Copies of the bonds and mortgages may ago be seen on
application Shepherd Knapp Esq Presldento me Me,
chancs Bank or to James Van NOsrand Esq Pfcsldent OF
the Merchants Exchange Bank.
Parties whose bids are accepted will be required 10 pay
% per cent npon awarded to Them ninedSlef
npon being notified OF tie acceptance of their bids and tho
remainder equal amounts on the ls and ION OF oece.
Der next; but any party VII be al hoeIy 10 pay IL u "
once Interest viii commence from the day or payment
COMMITTEE OF the DIRECTORS.
GEORGE BLISS, JOHN STRfRER,
CHARLES BUTLER JOHN B. JERVIS,
ol9 ii EDWIN C. LITCHFIELD.