New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-10-30
NrICHIGAN SOUTHERN RAIL

lYERO4D COMPANY-S80O,0 900 SEVEN PER
CENT MORTGAGE LOAS--Seded proposals for four
SprJr ibossDd dollars of the 6rsl and only Mortgage
Bonds the Michigan Southern railroad Company bearing
per interest," viii he received uin loh Jay %
Thee. bonds are ssuei under the provisions OF special
arr otle .ssne nf Michigan, authorizing the Company
to dispose OF or sell obligations. either within or With
thai such prices may be az reed upon
ard If sold below par 20 TX, r. binding as sold par
They secured by mortgage executed TO shepherd
Knapp ESQ OF Inc City OF NeSforG in uust tor inc ood
This mortgage the entire line OF the Compsnys
Road in Michigan whether ready built or hereafter 70 DO
constructed and provides thai bonds amount not ex-
cedng million OF dollars in all may be issued; OF which
amount not more than +0 600 can be issued until AFTER ina
Road shall have been completed 10 Snrges Psine, dis
lance of II miles from Lake Ee which point viii be
completed by the first Of January next
The security offered for the bonds is therefore mortgage
when complete the line of Indiana, will have
" 4O miles line, beside branch of 10 miles, ard
State and the relaxing the presea track about S0o0o
OF which 81 500 O6O VIII be represented by stock
TIE portion of the road already in operation, ahout7o
miles Yields income ample to protect the entire de6s
proposed be created and the length OF completed hns
and consequent increase OF revenue daily increasing az
ording security when VIII place me pdyIusas vi o oeVs
beyond all contingencies .,,.
septenlbeT $40 4Se These receipts derived from the
road in liz present unfinished condition. Fifty miles OK
completed road will be sddei 10 II wilhn 'hres ton5Ss
and will be extended 10 the ST Josephs River al me lh'
ana State line, early next Sprng mus uouohIs '0
ofthe mainline now In operation ,,.,. e.,.-.
the Civ of New.York te the Mississippi River, by way OF
the Erie Railroad aud the Lake Shore Road ao IL an al
poran link in the cham WI IT,
Nearly the whole OF this great lire rom olA " no
Mississippi River is either composed or III VIC VI W.
structiOn. 49,, .,, t.. ,ha
The means for the construction OF the road ready sor me
iron are provided for by stock subscribed and eelhg pa IN
by regular nsalents and the proceeds of the bonds ara
mainly required for the purchase OF iron heavy All s
equpmens ii is beiey al that railroad bonds oeioe o
public offer greater nducerneut Tor safe Investment i1
The mortgage empowers the Trustees in OF failure
to pay the principal interest OF the bonds 10 ke possess
sion OF road and receive it's earnings or 10 se H. aue
notice, and apply The proceeds 10 tue eA'us ~ ~
debt ,,... W.,
chanics Bank in the City OF New-f ofk roy y leoV WIN
interest at per cent per annum payable
~ in New-York, on the Isl NOV ana ISL nay. in'e'o~s
warrants or coupons, attached to the bonds ~
-Four hundred thousand dollars OF the bonds are no" oi
Sealed proposals for any amount not less than 81 GOO wiz
be received until the 18th day of November next
co 81 WalsL or to Z. c. LITcHFIELD, Treasurer, 62
Wallst Endorsed Proposals tor Michigan soulherh fA
road Bonds" ~, - ,,,noaaa
500 COO (helf the ofered( VIII be dlsposea
of absolutely and without reserve 10 Tue hghest
The Company reserve the right to Withdraw ING relSuu'a
If the offers not satisfactory
All necessary information in relation to the bonds t9ge1
fANIER co or E. G. LITCHFIELD, at either of which
places copies Of the bonds and mortgages can be mad
Copies of the bonds and mortgages may also oe seen pi
application Shepherd Knapp, Esq Presldehno vi e NC
chancs Bank or 10 James Van Nosrand Esq President OF
the Merchants Exchange Bank 80
Parties whose bids are accepted will be required 10 pay
% per cent npon awarded to them lnnedatsy
nn5n henp notified of the acceptance of their Bids ana tho
remainder in equal the st and 10Th OF Decei
Der next any party win be OF liberty 10 pay N m Do
once. Interest Will commence rom the oay VI Payi'oh@
N'" CoMMlrTEE OF THE DrREcroRs
CH9RIEs BITiER. JOHN B. JERVIs
ol9n EDWIN C. LITCHFIELD.