New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-10-31
MICHIGAN SOUTHERN Raj,
ITHROAD COMPANY "a iln non sgVFN pr,


CENT. MORTGAGE lGASt-Seeled proposals Tor fcsrr
hundred thousand dollars Of the first aIa onlY Mortgage
Bonds OF The Michigan Southern Railroad Company bearing
seven per cent interest," viii he received until l5h day 81
November next
These bonds are Issued uudef e provisions OF spee.
act of tie Legislature vi Mich. authorizing the Comparv
TO dispose OF or sell their obligations either within or With.
out that STATE 81 such raee Cs may be agreed upoa
and sold below par be IL binding As Il sold at par
They are seened by mortgage executed Shepherd
holders ~ 49, 'Y''@
This mortgage covers the entire line of the Conpsnv's
Road N Michigan whether already built OF hereafter DO
constructed and It provides thai bonds 10 M amount not e
ceedlng one million OF dollars al baissued of which
Road shall have been completed Srges PraiYie dis
tance of III miles from Lake Ene To which point Il win be
completed by The hrst OF January next
The security offered the boudsis therefor, mortgage
hen and substantially the only lea, upon tosd whca
H 20 miles OF main liae beside abranch of 10 miles ana
which viii have cost including the Original outlay by the
of which 81 500 coo viii heTepresented by stock
The norton Of tue road already In operation abouti7c
miles Yields income ample 10 protect the entire debs
proposed to be created and the length OF completed line
and consequent increase of revenue is daily increasing
rording security which will place The payment OF tho de
beyond all contingencies, 49, =
For August 1880, the earnings were $l6,47 q. Fr
September S204S0 These receipts were derived rom S
road in its present unfinished condition Fifty miles Of
completed road vii! be added TO 1t within thres month";
ana State line early next Spring thus doubling me enga
ofthe main line now in operation
the CITY of NewYork to the Mississippi River, oy way q
the Erie Railroad and the Lake Shore Rosd and Is an I'M
portant link in the chnin
Mississippi River either completed or in the course oil eon
struction.
As The means for the construction OF the road ready for tho
iron provided for by stock subscribed and bein pa n
BY regular nstamenS and the proceeds OF the 9onas are
mainly required for the purchase OF iron heavy II in ana
equipments is believed that no railroad bonds oeor rs
public offer greater inducenent for safe Investment man
those of this Company. - IN,
The mortgage empowers the lrusees ia Ce7o VI iauss
TO pay the principal interest OF the bonds TO take pos
sion OF the and receive its earnings or TO seu IT. on duo
notice. aud apply the proceeds to the extngshent OF me
The bonds are in sums of 900 EACH payable at the Me-
chancs' Bank in the City OF New York, Nov l, 1850, With
interest per cent per nnnum, payable seianGua'
" in New-York on the LIST Nov. and LIST May lptereSs
warrants or coupons are attached to the bonds.
-Four hundred thousand dollars OF the bonds are now oz
fered for sale. a, oooo III,
Sealed proposals for any not less than 81 600 WIZ
be received until the 18th day Of November next ,,
Proposals may be addressed TO WlNSLO", LANlEK e
co 50 Wall.st or to Z. c. LITcHFIELD, treasurer %
Wa-s Endorsed Proposals tor Mlcnlgsn oouNein H1'
100000 half the amount oered will be disposed
of absolutely and without reserve 10 inc MgheSt oauef
The Company reserve the nghi 10 wllauraW NO
If the offers are not satisfactory l., ,.,.
All uecessary information relation 10 the bonds ogeih'
er with maps may be Obtained by ealing on WlNSLGM,
places copies of the bonds and mortgages can be had
Copies of the bonds aud mortgages may aso De seen 20
application Shepherd Knapp, Esq President oi le si
c6anics Bank or 10 James Van Nosand Esq President o.
the Merchants Exchange Bank
Parties whose bids accepted Will be required 70 pug
25 per npon the amount awarded 10 thel
upon being notified OF the acceptance OF er pia anu s
remainder equal amounts on the ISL ana tot VI 'eSe'
Der next but any party win be liberty to pay N f
once Interest will commence from the day OF payment
ComMIrrEE OF THE DiREcroRs:
CHARLES BUTLER JOHN B. JERYIS
't ols EDWIN C LlTCHFlELD.