New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-11-30
OHIO and PENNSYLVANIA RAIL-

OROAD COMPANY-S5OOOOO SEVEN PER CENT
MORTGAGE LOAN-Sealed Proposals will be received
by subscribers until Saturday, the 7th day OF December
next for FIVE HUNDRED THOUSAND DOLLARS OF
the FIRST and only Mortgage Bonds of the ONO ana Penh,
syvania Railroad Company convertible INTO tne socS oi
the Company al the pleasure OF the holder al any e pre-
yious TO Their maturity bearing seven per cent per annun
interest and redeemable in NewYor on the st OF july
These Bonds are in sums of 1000 each with Coupons
attached payable NewYork on the ls OF each January
These Bonds Issued under The provisions Of the act,
OF the Legislatures OF Ohio aud Pennsylvania and are Se
cured by mortgage executed John j. Palmer, Esq OF
the City OF New'York, in trust for the Bondhoders
This mortgage covers the entire line OF the Road from
Pittsburgh to hlassillon IN the state OF ono distance 81
07 miles, the of which is estimated at S2o85uC ana
the Trustee empowered in of sixty days default IN
the payment interest principal OF the Bonds to take
possession of and sell the whole or any part OF the
one million ofdoars in all may be issued OF which amount
five hundred thousand dollars have already been disposed
Of principally in England in the purchase OF rails, spiked
chairs locomotives &c leaving only the bondsnow offered
be issued under the mortgage
The proceeds OF the entire issue are exclusively apBed
the supeTstrucure and equipment OF tue line from Ps
burgh Massion the means for the construction of the
road ready for the ron have been amply provided by rea
bic stock subscriptions among which the twin cities OF
Pittsburgh and Allegheny have each subscribed and paid in
The Ohio and Pennsylvania Railroad forms part OF the
great direct line Of Railroad between the cities OF New
York, Philadelphia and St. Louis, which, when finished
will be shorter than any OF the routes between NeW-York
and ST. Louis
ready for travel in 1852, by which time tile whole OF the
Ohio Pennsylvania road junction with The CIeve
ished.
The portion of the road between Pittsburgh and Massi
lon under contract and progressing rapidly and VIII
be in operation in 1881 from Pittsburgh Beaver Will
be opened for traffic in July next
The immense and rapidly increasingly commerce OF Pls
burghOned to The alhc to be derived from several OF e
wheat counties of Ohio through which this road passes, will
insure TO il large and productive business that never
be diverted by any other Toute this without taking into
consideration the long travel Joined the low cost OF con
srucon ESTIMATED ut only 1864 per mle) VIII insure
TO The stockholders his hy remunerstYe dividends and
there is little doubt that the right of converting these
Bonds into Stock AT par will be avaied OF by the Bond
holders and add greatly to the value OF the Bonds RS II
will enable the Bond holders to share in the profits Of
the when lis results shall become matter OF act, with
out mourning any risk while The road is being constructed
is confidently believed that the Bonds now offered for
afford of the safest and desirable securities
in the United States.
FIVE HUNDRED THOUSAND DOLLARS are now
Offered for sale
The entire amount will be disposed of absolutely and
without reserve TO the highest bidder.
Sealed proposals for any not less than 600 wi
be received the Office of the undersigned until o'clock
on the seventh day of December next.
Proposals TO be addressed to WlNSLOW, LANiER Y
CO 50 WasL New-i oTk, and indorsed proposals for
Ohio and Pennsy lvania Bonds"
printed exhibit Of the affairs OF the Company contain
ing map the road and lis counecuons together with CO
pies of tie bond and mortgage may be obtained on app
cation 10 John Palmer Esq the Merchants Bank, orto
the subscribers, who will furnish any further Information
which may he desired.
Parties whose bids are accepted win be required to pay
w euty per cent upon The amount awarded TO them lmne
daey upon being notified OF the acceptance OF heF Dos
and tie remainder in equal amounts the first day OF jan
uarv February March and April neX-but any party VIII
be at liberty to pay in fun at once
Interest will commence from the day OF payment
WINSLOW, LANIER i Co 81 Wal,st
Neyy-YOrk, 21st November, 1880 u<ZtDI