New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-11-27
FINANCIAL.
HIO and PENNSYLVANIA RA


OFROAD COMPANY.-S500.000 SEVEN PER CENT.
MORTGAGE LOAN-Sealed Proposals will be received
by the subscribers until Saturday the It'll day OF December
next for FIVE HUNDRED THOUSAND DOLLARS OF
the first and only Mortgage Bonds of the Ohio and Penn
syivane Railroad Company conyerloe INTO me STOCK OF
vous their maturity bearing seven per cent per ennqrn
interest, and redeemabe in NewYork the LIST of July
These Bonds are in sums of 1000 each with Coupons
attached payable in NewYok on the ls OF each January
These Bonds are issued under the provisions of the acts
of the Legislatures of Ohio and Pennsylvania and are Sc
cured bv mortgage executed to John j. Palmer Esq Of
the City of NewYork, i'll trust for the Bondholders
This mortgage the entire line OF the Road from
Pittsburgh Msssillon, in the State OF ONO distance OF
I07 mes the cost of which is estimated at $2Q950CO and
the Trustee empowered in case OF sixty days default IN
the payment of interest or principal of the Bonds TO take
possession Of use and sell the whole any part Of the
same and provides further that Bonds to the amount OF
one million dolarS in al may be issued otwhch amount
FIVE hundred thousand dollars have already been disposed
Of principally in England in the purchase of rails spikes
chairs locomotives &c. leaving only the bonds now offered
be issued under the mortgage.
The proceeds of The entire issue exclusively applied
to the superstrucure and equipment OF the ne from fs
burgh to Massion the means for the construction OF te
road ready for the iron have been amply provided By rea
BILE stock subscriptions among which the wln cues OF
Pittsburgh and Allegheny have each SUBSCRIBED ana pau ID
The Ohio and Pennsylvania Railroad forms part Of the
great direct line Of Railroad between NE ces o! view
York, Philadelphia and St Louis which, when hnshed
will be shorter Than any OF the routes between NewYorS
The line between philadelphia and Pittsburgh will be
ready for travel 1882 by which time the whole OF the
Ohio Pennsylvania road TO its junction win inc We've
Columbus and Cincinnati road Is intended 10 De mn
The portion of the road between Pittsburgh and Msssi
lon is now under and progressing rapidly ana VIII
be In operation in 1851 from Pittsburgh 10 beaver II w"
be opened for traffic in uiy next ,,,..
The immense and rapidly Increasingly commerce OF fs-
brgb Joined TO the traffic to be derived from several OF me
wheat counties through which this road passes VIII
insure large and productive business ha can never
be by any other routes this without taking into
consideration travel Joined to the low cost Of
scton ESTIMATED only 1864 per mile9 VIII Insure
to the stockholders hig hy remuneratYe dividends, and
RI. I.tit hat
Ronds into stook, par will be avaed OF by the Bond
holders and add greatly to the value OF the Bonds IL
will enable the Bond holders to share in the profits OF
the road when its results shall become matter OF with.
out mourning any risk while the road being constructed
1t is confidently believed that the Bonds offered for
sale afford one OF the safest and desirable secures
in the United States
FIVE HUNDRED THOUSAND DOLLARS are now
offered for sale.
The entire amount will be disposed of absolutely and
without reserve the highest bidder.
Sealed proposals for amount not less than 81 200 VIII
received the office of the undersigned until O'Clock
on the seventh day of December next
Proposals 10 be addressed TO WlNSLOW. LANlER
CO. 81 Wallst NewYork, and Endorsed Proposals for
Ohio and Pennsylvania Bonds
printed exhibit OF the affairs of the Company, contain
ing map the road and its connections together with
pies of the bond and mortgage may be obtained on app
cation John Palmer, Esq the Merchants Bank,
the subscribers who will furnish any further information
which may he desired.
Parties whose bids are accepted will be required pay
twenty per cent upon the amount awarded to them imme
datey upon being notified of the acceptance of their blds
and the remainder in equal amounts the first day OF jan
uary, February March and April nex-but any party will
be al liberty to pay in full at once
Interest will commence from the day of payment
WINSLOW, LANIER Il co 81 Wall-st.
New-YOrk 2lst November. 1880 nl2tD7