New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-10-22
FINANCIAL.

MICHIGAN SOUTHERN RAIL
1ThROAD COMPANY.-S400, 900 SEVEN PER
CENT. MORTGAGE L0AN-S,tled proposals for foar
hundred thousand dollars OF tive and only Mortgage
Bonds OF the Michigan Southern Raj oad Company bearing
seven per interest vii he received until 18th day OF
Tirs bond. are issued under the provisions OF special
sct OF the Legislature of Michigan authorizing The Compsny
to dispose sell their obiiEai"ns rhe within or with
on hai STATE a. slc rates prices may b. asreupon
md If sold below par. 10 be a. birding rs sold al par
The are sacnre by mortgage executed 70 shepherd
Knapp ESQ. ofthe City OF Ne"-4ofA' III nus 'o' ie oo"0
tbs mortgage covers the entire line Of the C9mpanys
Road IN Michigan whether already CUM OF HeIee ~ oe
constructed and it provides that bonds 20 an aio. o1 ~
cang one million of dolars IL ali may eiSsle o "ilSH
amount not more han $4,000 ean he issued qIl atef e
Road shall have been completed 10 onrSsS tfdc' ite
ance Of III mites from Lake Ere, 70 which point II VII %
security offered for the bonds therefore mortgage
lien and substantially the Only lien. npon road wulcl
when complete the stale Inc OF lndlaa VII nhse hen
" l4O miles of main line beside branch OF ~ ntS, anu
which VIII have cost intending the Original outlay ny NE
STATE and the reiav!Ig the present track, about SZoVV
of which : 800 600 VIII be represented by stock
The portion OF the road already operation aooGl ~
niles Yields an income ample 10 protect sie e,e ma
proposed be created and the length OF cunpeteu me
and consequent increase OF revenue II HA ~ S ~ i
fording security winch VIII place the payment o 'e o'
beyond all contingencies.
For August, 1850, the earnings were SIo,4l = 70,
September SUtS0 These receipts were derived rom nc
rond in It's present unfinished condition. FIFTY mics OF
completed will be added it within three months
and viii be extended to the ST Josephs RIVER al ie lui
ana State inc. early Spring, thus doubling the engA
ofthe main line now in operation.
This road is part continuous line of Railroads from
the CITY OF New-York TO TIE Mississippi River by way OF
the Ere Railroad and the Lake Shore Road and Is all mn
porfant Ink in the chain
Mississippi River either completed on the course OF con-
struction. ,.,
the means for the construction of the road ready for the
iron provided for by stock subscribed and oen pals ~
By regular nstameuJs and the proceeds OF the ooadS are
mainly required for the purchase OF iron heavy Il ran ana
equipments believed that railroad bonds before me
public offer greater Involvement Tor sale investment HeA
those OF this Company
The mortgage empowers the Trustees in Of failure,
10 pay principal OF the bonds take posses
sion OF the road and receive earnings sell H. endHe
notice and apply the proceeds 10 the eXtngulshment OF e
The bonds are in sums of GOO each payable the Me
chanics Bank in the City OF Newly ok, Nov 1860 With
" in New YORK On the Isl Nov and Isl May Interest
warrants orcoupons, are attached to the bonds
-Four hundred thousand dollars OF the bonds are now OF
Nered for sale, go
Sealed proposals for any amount not less than 1000 viii
be received until the 18th day OF November next -
Proposals may be addressed TO WINSLOW, lIANlEh
co 81 Nail-st. or T. c. LITCHF1ELD, Treasurer o.
Wals Endorsed Proposals for Michigan Southern Kali
road Bonds
laf the amount now ofered) will be disposed
of absolutely and without to the highest bidder
The Company reserve the right to withdraw the remainder
il the offers not satisfactory.
All necessary information in relation to the bonds ogeth
er with maps, may be obtained by calling on WlSSLON,
LANIER 4 co or Z. c. LlrCHFiELD, at either OF which
places copies OF the bonds and mortgages can be hau
Copies OF the bonds and mortgages may also be seen on
application Shepherd Knapp ESQ President OF the Me,
chancs Bank James Van Nostrand, Esq PRESIDENT OF
the Merchants Exchange Bank.
Parties whose bids accepted viii be required 70 pay
25 per npon the amount awarded TO Them mmed9Gy
npon being notified the acceptance OF their BIDS ana me
remainder equal amounts the st and 10Th OF Decei
Der next; but any party viii be at liberty to pay IN h al
Interest will commence from the day OF payment
countries OF THE DIRECTORS:
GEORGE BLISS JOHN STRYKE
CHARLES BUTLER, JOHN B. JERVIs,
ol9 II EDWIN C. LlTCuFIELD.