New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-11-12
MICHIGAN SOUTHERN RAIL

~ j.
CENT MORTGAGE LoAN.-Sealed proposals for four
hundred thousand dollars Of the first snd only Morgsss
Bonds ofihe Michigan Southern Railroad Company besrte
per cent interest viii oe received art lsih day q
These bonds are Issued under The provisions q special
oftbe Legislature Of Michigan authorizing The Company
to pose OF or sell their obi aBons either within with
cut that State al such rates prices may be agreed upou
and sold below par 70 be az binding as II SOLD AZ
They are secured by mortgage executed 10 Shepherd
Knapp ESQ oftbe CITY oil AewfoTk in trust for The bond
This mortgage covers the errs line Of the Companys
Road IN Michigan, Whether already bat or hereafter to be-
constructed Gn provides M bonds 10 an amount not ex
ceeiing one million OF dollars il al may issued Of which
amount than SoDo eau be issued until after ms
Road shall have been completed 10 Surges Prairie die
lance III miles from Lake Erie, which point Il viii ba
completed by the first OF January next
The security offered for the bonds IS therefore mortgage
I;cn ard sIbstantiallv lie Only Hen upon road which
when complete 10 the state line of Indiana WIN have near
" 4O miles OF main line beside branch Of 10 miles, and
which WIN have cost including the original outlay by the
Stae and the relayng the preseat TRACK aood S2SoCC
OF which 81 ,50G.0 600 will be represented by stocz
The portion Of the road already in operation, about 70
niles Yields income ample 10 protect the entro debt
proposed TO be created and the length Of completed hne
and consequent increase OF is daily increasing AZ
fordng security which viii place the payment CT the debs
beyond all contingencies.
September $2l80 These receipts were derived nom ihe
road in It's present unfinished condition. Fty mics o.
completed road will be added TO ii within three nlonh9s
and will be extended 10 the ST. Jcsephs River al NE ind
ana line early Spring, thus doubling the lenga
This road IS part OF CONTINUOUS Railroads from
tine City of NewYork 70 the Mississippi River ~ way Or
Nearly the whole OF ths great line from New 70 thd
Mississippi River is either coeed or IN the courssof conr
As he means FOR the construction othe road ready for ths
iron are provided for by stock subscribed and beng paid IN
by regular nsaments, and tse proceeds OF e ponds arg
mainly required for the purcase OF iron heavy rail- and
eGpmens il Is believed that railroad bonds before ina
public offer greater iduceme1i FOR safe investment THAI
those of this Company
The morgagempowers the Trustees, In Of fsfrrc,
10 nav the principal or of the bonds TO take Possea-
sion of the road and receive It's earnings or 10 cell H. on qua
notice and apply the proceeds TO The extngushncni OF wa
debt. =, "a, ~,
clancs' Bank in the City OF NewYork, Nov 1850 WIZ
interest nj per per anuuln, peyabe een
w in New.York on the lst Noy snd tst May intereSe
warrants coupons, are attached 70 me oonds ~ s
-Four hundred thousand dollars Of The bonds are now OF
fered for sale -, No.. q, o,o zig
be received until the 10Th day of November neSL ,,,
Proposals. NAV be addressed TO WlNSLOW! LANlEh :
co. 50 Wal-st. 10 h &. LlTCHFiELp, lteasuIT y"
Wast Endorsed Proposals for Michigan Southern nSat'
road Bonds"
$500 OOO hef the amount now odered) win he disposed
OF absolutely and without the higheet bidder
The Company the right 10 withdraw me reulanuef
Ii the offers not satisfactory,
All necessary information in relation to the honda toget-
with maps, may be obtained 10y calling on WlNSLOWJ
LANIER co. or Z. C. LrCHFIELD at either OF which
piuces copies OF the bonds and mortgages can be had
Copies of the bonds and mortgages may aso be seen oa
application Shepherd Knapp Esq President Of the Mo-
cancs Bank, to James Van Nosrand Esq Preaiden Cd
the Merchants Exchange Bank.
Parties whose bids are accepted will be required to pay
25 per cent npon the awarded TO them Immediately
npon being notified Of the acceptance Of their bids and me
remainder In equal amounts on the Isl and loti OF oec9n'
Der next out any party will be at liberty 10 pay IN uh u
Interest will commence from the day OF payment
New York, Oct s. 1880
CoMMITTgE OF THE DIRECTORS
GEORGE BLISS JOHN STRIKER,
CHARLES BUTLER, JOHN B. JRRyIs,
ol9 If EDWIN C. LITCHFIELD