New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-10-19
FINANCIAL.
SOUTHERN RAIL.
RAIL

y u 4 lis-
cFsST M6RTG ace L0AS-Se9Ied proposals Ca 5oi -.
hundred losald aolars OF the n, ard e5y Mortgage
seven per eeli interest," VIII be received GniH Sta dag D
ines, holds re jss.led .iiier the provisions Of special
sc nfte legislature Michigan, authorizing ne Company
Il, fisrcs, OF or SCH tiier Obligations, ehe wh't or WIZ
an, ,,t Sot str f,es or prices rs may b., rcaapss
md ii sold below ia; 10 lie % binding a5 II spi h par.
They mn, sq,rlre l n mortgage eNecutel 20 slepAna
Knapp Esq ofte CITY Ut Nc"-York IN r's iof the bond
hoideis
This mortgage covers lie entire line Of The Compaays
Road in AIchit Whether already butt OF hps 10 10
constructed ara provides 'hst bonds 70 M e., ot e.
amount more uu $4,000 be issued '!i after le
hoSu sig haSc been conpetet! to Slrsss tF'te as
ehce OF ~ miles from sAe Enc to Which poit u fTl ee
completed ty Tie drs OF January next
Tie security oee e Ton The bonds is ttere.ora mortgage
len and substantially the only en upon road whhA
when complete To the hne OF Indiana VIII have neg.
y l4g niles OF no ine. beside branch of 10 mics, All
State and Tie reias ING the present track about S2oG0e
Of which 81 r5c0060 VII berepresentcd By stock.
Tile portion Of tie road already in operation about %
miles, yields H income ample 10 protect the entire 3s
proposed 10 bscre"iee 0nd the length OF completed he
and consequent increase ofreNeuUe is daily Increasing a
forng security which Will place the payueu, OF Ia dea
beyond nil contingencies.
For August 1880 the earnings were Sl6Il7 n Ya,
September $z04Go These receipts Were derived fn he
road in It's present unfinished condition. Fy miles Of
completed road Will be adtel 10 ii within three slcl
md Will be extended totle ST. Josepfs River AZ lhe mn
am State line, carry next Spring. thus doubling henkA
ufthe main line NOW il, operation
the City of NewY ork TO the Mississippi Ryts, by way q
the Erie Railroad and Tie Lake Shore Road and is AMIN.
portanI link in the ciun.
Nearly lie whole OF this great line from New York o6e
Mississippi River either completed orin the courseofe co...
struction.
As the means orthe construction OF the road ready florida
iron are provided for M stock subscribed and being paidh
ty regular nsjamcR,S. and the proceeds OF the bonds
mainly required for The purchase OF iron heavy II rail @d
equipments it is believed thai no railroad bonds before lie
public offer greater ducement Tor safe investment lisa
those OF this Company
The mortgage empowers the Trustees in OF failure
TO paytle principal interest OF the bonds 70 take posses
sion of the road and receive It's earnings on 10 eel IL on ses
notice, and apply TIE proceeds TO the eNunsul'eh o ge
The bonds are In sums OF Geo each payable at tie Ne
clanics Bank Tic City OF New-fork, Nov 1850 Hlh
" in New-York, on The lst Nov and ls May Interest
Warrants or coupons, attached to the bonds
-Four hundred thousand dollars OF The bonds are nSwOs
fered for sale.
Sealed proposals Tor any amount not less thnu SlNwil
be received Until Tie 18Th day of November neXt
Proposals may be addressed TO WlNSLOW. lANIBRk
co. 81 Walsl to L. c. LIrcHEiELD, Treasurer, s.
Walst ndorsed Proposals for Michigan Souiherllsai
road Bonds
100000 (ulf the amount oGered( win be disposed
of absolutely and without reserve to the highest onde
The Company the right TO withdraw the rcrldnteF
If tie Offers are not satisfactory
All necessary information in relation 10 the 60nds qSSa'
or with maps. NAV be obHiucd by calling on WISSLOW,
LANlER 4 co. or +. C. LlTCHFIELD, at either OF which
places copies of tie bonds and mortgages can be had
Copies OF the bonds and mortgages may also DC seem
application Shepherd Knapp, Esq President OF me No.
ctancs' Bank to james Van Nostard, Esq PresideId
the Merchants Exchange Bank
Parties whose bids accepted will be required opy
25 per cent npou the awarded 10 them rlnede
npon being notified Of the acceptance OF their 3id ande
remainder in equal amounts on the 81 and ION al Deem
Der next; but any party will be at liberty 10 pay III iuA
once Interest Will commence from TIE uhy oil payment
Neyq-York Oct. s, 1850.
COMMITTEE OF THE DrREcToRs:
GEORGE BLISS, John John S $ EAb1eiR