New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-05-31


express recognition Of the hight Of the Company TO cary
their road into Indiana; and was so understood and sd
Tgbt DELAYED until the close Of the next session Of the
Michigan Legisatarea delay which The Company dd not
oppose r The that that tine viii be occupied IA tbs
construction Of the remaining hy miles Of the road from
Codwsterto the St joseph River Al Constantine
Its obvious that with This unobeciionsbe Qualification
az 10 time the Mchran Southern Railroad Company pos
se,ses an Die chartered authority 10 select It's own route
uio Indiana and thence under charter seady there ex
isng ard under tbs General Railroad Law Of Illinois 70
per'ectis continuous route 20 Chicago with what pre-
erse offasss your 10 the face Of hsie
aoknowled ged facts, make the following statement
"The present seek 70 hsv- the rOute changed
End 10 secure such powers vii enable them look 70
Chicago Ultimately terminus and 70 cOmpeie IN sons
degree with the Michigan Central Road Tor the long E.s
earn and Western travel and buErsss"
bss already been seen that 10 change OF route lece
sery enable IBIS Con- psny 70 oos 70 Chicago umai,
" IS ermir US" Wheher when hls Rsd . com1iei9s
hey compete in dsgrse win the Michigan Central
Road for The long Eastern and Western travel aad 61s
ness" your correspondent srpposee hej ain 70 90,
glsnce ct the Msp and kn1wledge q the Improvements
already in progress win enable al 70 Judge
In lees Than f7e iron road VIII exterd from tue
Atlantic a. New York TO the Mississippi River; and the
ultimate relative mporsnce Of the Mcl gsl Cerfra and
the Michigan soaSe Road depends upon which is TO
form the connecting ink from Lske Erie 10 Lake iicli-
gan. The NewYOrk aud Ere Railroad Is now under con-
tract 10 Lake Ee "a be completed within zar rom tls
time; End extension Of THE great work rom DlnSirk
westward Ede Is being actively cDnsirlced, and
is to be completed during the Summer snd Fa OF 1851
company IL eesdy organized 10 exierd the work from
Ereto Cleveland ia the State o. Ohio Beyond that po1t
rotd Is sready built running for nearly hYg nIles
lIs
Toledo, whele Il connecs with he Ers and Kalamazoo
Road which Is in NIL operation under permanent
lease 10 The Michigan Southern Railroad Company Foom
Ioeoo and Monroe 70 Adnau ana haoo on ne lne o. tas
Michigan Southern Road 10 HilsdGie C9idwaer, Con-
sianine ard through tie northern country o. lldsa a'd
Illinois 10 Chicago s he naiur route Tor ne eonneelyl
between the hesd Of Lake Enc and LAKE hichgsn under
charters, and shs now existing and secured ire Mlcnl
upo Ibis rorie II VIII fnsbed ColdwAter the pre-
season and before the cofe Of another VII hsYe been
extended from Constantine across ne sste Hns OF n
gan ard vii be pushingits way along the prares Of lnd
snd lllirois toward Chicago. There u VIII Connect
with the Gsera ard Union Railroad wc1 rs nov n &C
tive operation fOny-nre miles beyond Chicago, aud IL
being vigorously prosecuted with view 10 an early com
peuon The Mississippi at Gaena These are the respec
i've ns-srd ruch their present state Of progress IN
iron Road which is to be the medium Of communication,
travel ard commercial interchange between ihs East and
the West The Michigan Southern Roed upon this direct
route forms the NATURAL shortest and mos obvious A1d
feasible connecting Ink between the road which Is
being built along and around the southern shore OF Lsks
Erie, and that which VIII extend from the head OF lake
Nchrrn st Chic, 20 10 the Mississippi River Yolr cor
oDdeus Inference IT, therefore, very obvious one
thai when completed will compete very successfully
doubt" for the long Eastern ard Western travel snd
business with the Michigan Central Railroad" which is
north Of and of from the direct route and wcud enRthsn
disiance from the East to the West from 80 to loones
what Il will be via Toledo or Monroe, and he Aich
gan Southern Rsroad to Chicago.
Our Boston friends, who and control the Michigan
Central Road have discovered that the natural tendency OF
The Western trade and travel will be By OF the Mlchl
Southern Road he south shore line OF roads zTOund
Lake Erie and theDcs to NewYOrk. TO prevent this
suit and TO secure for road and their city r.. pos
fbe the traffic The West they eDdeavong procure
chartered authority TO extend their own road around Lake
cbighn and 10 rase funds to build an extension from
Detroit through 10 Conada-to carry freight snd passengers
down The st Lawrence and thence by OF the railroad
Leading from Ogdensbure to Boston TIE scheme wor.
Thy ofhe ssgsciy and energy Of Yankee neighbors
Thus they have failed procure the legal power the
recuery means 10 carry these projects and ia is worthy
~ ~ 49, M s-cbsnt New
York how far such project II II can be msde successful
viii affect the substantial Interests Of their noble city The
trade and commerce Of the growing Wesiis prizs well
worthy struggling for add IL reeie but steady pereysr
Ing effort push ofw ard and sustain the line Of railways
connecting the EST and the Veal by the OF IN souh
hoIe Of Lake Erie to bring The treasures OF that rich and
rapidly developing region into the very lap OF our CONNER
Gle Emporium.
But while your correspondent denies the right Of the
Southern road 10 mske Itself thing bot "a purely ocsl
ny 10 tue bonds AID preferred stock, and now setns
10 negotiate euch tonds and stock IN rae the Necessary
ChicsS" win The Se,}rn OF embarrn ihem and II
possible preventing their success he p1rades s'aenent
o the company for the last yeer IN order a. he
says iht lyon mey udee ofihe value ofis pre-
ferfeo stock should any BE- issued"
The obvious design prejudice N advance he bonds
snd STOCK Of company which &c seeking 10 cary forward
dse region which tragers-f tut aleO q il= ermaa
.g points 4 The entire Lc o. rFays Of Which iis own
be cifcredtsbe Inc motive which prompts
him. Is deliberate msstSsmeut Of iact suppression
81 part 81 the truth, with se" 10 ccaio an crfoleJus
Impression
Probably no one kuoSa better than your eorrespon1eni
thai the mich ~ Southern Railroad Compsay has per-
mare letse Of The Erie ard kalamazoo Railroad which
took 6ect the let Of August Rcd und.r which since
AA GtlP BON fOaos br'n Ortrdir1 bF he I'll hgsn
boh roods from the frs, August last form part Of the
resei uef Of the Mcd gan southern Road and s1oll b.
nc u1fd many statement des snei 10 show the niOn
ard revenues 4 lte company r thu last year although
from he sci that iLe chsf,ers Of he tvo roads are ME
pendent each recnrng report % the Legislature Of rs
paTcuer annual busnes Il was supposed 10 be 1ecels1yy
and proper 10 these ormt reports 70 separate the business
OF he Tosd hom that 81 re Oher lis cbvo1s that
mel her report taken sepante would embrace the aafir
busnfEs Of he Michigan Southern Road for the
yesf but hat the earnings both k together are what
constitute 10 revenues.
Your correspondent has seized uron the report Of ITO
Michigan Southern Railroad FOR the wear 1919 (which is
" holly INDEPENDENT OF aud does not ipcid the re, ,t
upon the Ee ard kalamazoo road al the Adrian and TOE
onces and The earnings Of that portion OF the
Toad beiI Inc eaTnngs Of the COMPANY aud
o. suppose that his position IL inpregnAbs because
Is signed as should be bv the proper of
he COMPANY. The Teceuis from the Ede and KALAMAZOO
road from August 10 January last abou, S GEO yet
his item Is entirely omitted by your correspondent he
states The total earnings al COO when In truth they
retde $4,000 and staring with those false premises he
proceeds 10 coneoc statement Ia which by charging IN
crest the capital az per and Ouing entirely
6eo Of receipts on the Toledo poruon Of the road ne
hovs 90 net loss" ~ he terms T. to the company In
,er words he shows tfsi too thirds Of the eIrnfags dd
Vol pay interest the debt and per the entire
tai With those premises he figured net loss"
stereas he had taken The true amount OIL recepis the
slauce sner payment OF expenses ard interest would
how surplus Of earnings IN favor Of The rosd, although
consequence OF The prevalence Of the cholera AMI The
hort crops II well krOwn that AZ the western rOsds dur
ng the ss, year suffered large dmunon Of their ordi
sry business and this rOSd In With the others
Those who take such especial paine dscredi aud De.
" The value OF Other peoples Investments should take
ne occasionally TO examine into the value OF their own
have before the .Thifd ANIMAL Report Of the Di-
clcTs o. the Mchigsn Central Railroad CompanY 10 the
ocklO.Gsrt fgLed BY the President Of the company snd
urg ch al great length the report Of tbs Treasurer and
npefrtencepi. subjoiu statement Of tho condhloa
rtverUts Of that company Tor the year endink3i.t
n.y. lf4 slated Ia those various reports, In order thai
,ur cores ponden may judge Of the value OF is bonds
"a stocks should any be 'cfered to him
Receipts from jane 1919 10 Nay 81, 1880 Inclusive
ssseogtr 757 $
<if1BJ ~
isceilsneous l5221 a
Total. .Sf2r429 50
Perang expt mes and repairs. 259153 10
Surplus 1875 II
stock Of this Company, stated In
the same report, was s2s7seo
cnds, convertible and unconvefubls, bearing
Interest ~ per cent. 1916 $50
oDds besfing lD'ereGh per ceni.......... S54 500
hs pAys 3iz f63
Mssine ar aggregate of.................. $5EsS3ss
ln addition 70 come anal smonni. inclrdsi 49,,