New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-10-26
MICHIGAN SOUTHERN RAIL-

aRoAD odpo SGSsS PE ds
Bonds of the Michigan Southern Railroad Company bearing
per interest," VIII be received until 18th day oS
TEese bonds are issued under the provisions OF special
ACT of the Legislature of Michigan authorizing the Company
to dispose of or sell their obligations either within or with
out that State III such prices may he agreedupo
and il sold below par TO be rs binding MS II sold NJ par
They scared ny mortgage executed 70 oHephrEa
SoiSers Esq VIC WY y ~ ' o...,.
This mortgage covers the entire line Of the Companys
Road in Michigan whether already built hereafter to be
constructed and provides that bonds amount not ex
ceedg million OF dollars in all may issuedi OF WINCH
amount more than 100000 can De issued ni aI'or inc
Road shall have been completed to sturgeS Prare as,
lance OF III miles from Lake Erie to which point II VIII Do
completed by the first OF January next
The security offered the bondsis therefore morSage
lien and substantially the only lien upon road ~ csr
when complete the state line OF Indiana VIII nave s
~ 40 miles OF main line beside branch of IN miles, ao
which will have cost including the Original oussF
State and the reuyng the present track aoou; ~''V'V
OF which 81 100000 Viii be represented by stoch'
The portion OF the road already in oper9tlo sool ~
miles Yields ample to protect c ei.o 1 is
and consequent Increase revenue daily increasing az
fordng security which will place The payment OF the deDI
For August, 1850, the earnings were $64l7H. For
September 1904 These receipts were derived from tho
road in s present unfinished condition. Fiiy miles OF
completed road will be added 10 within three months
and will be extended the ST. JosepRs River Al the lnd
State line early next Spring thus doubling The length
ofthe main line now in operation
This road is part of continuous line Of Railroads from
|
the Erie Railroad and the Lake Shore Road, and Is an in
portant link in the chain.
Nearly the whole of this great line from NewYork to tho
Mississippi River is either completed or IN Inc COURSE COLI
structlon.
As the means the construction OF the road ready for the
iron provided for by stock subscribed and beg pae IN
by regular mstamens and the proceeds OF the bonds are
mainy required for the purchase OF iron heaYy n fN anu
equipments, il is believed that railroad bonds before the
public offer greater inducemen for safe Investment ah
The mortgage empowers the Trustees in OF failure,
to pay tie principal or interest OF the bonds to take posses
sion of the road and receive s earnings sell H. on duo
notice, and apply tie proceeds to the exngsent OF mo
debt
chanics Bunk in the City OF New York, NOV 1850 with
at per cent annum payable semanGual
~ in New York, the LIST Nov. and Est May Interest
warrants orcoupons, are attached to the bonds
-Four hundred thousand dollars of the bonds are now Of
fered for sale
Sealed proposals for any amount less than 81 900 will
be received until the 18th day OF November next
Proposals may be addressed to WlNSL0W, LAM Err L
co. 81 Wall-st TO +. C. LTCBfIELD, Treasures 6I
Walst Endorsed Proposals for Michigan Southern Rail
road Bonds
100000 ialf the amount now ofered) win be disposed
of absolutely and without the highest bidder
The Company reserve the right to withdraw the remainder
If the offers are not satisfactory.
Unnecessary information in relation TO the bonds, togeth'
with mUps, may be obtained by calling WlNSLOWt
LANlER CO. or l.. C. LITCflFIELD, at either of which
places copies OF the bonds ard mortgages can be had
Copies of the bonds and mortgages may also be seen on
application TO Shepherd Knapp, Esq President OF the Me
chancs Bank, James Van Nosrand, Esq President o.
the Merchants Exchange Bank
Purtes whose bids accepted will be required 10 pay
% per cent npon the amount awarded to them Immediately
npOn being notified Of the acceptance of their bds and the
remainder in equal amounts the LIST and 18th Of Deem
Der next but any party Will be at liberty TO pay In full ~
once. Interest VIII commence from the day OF payment
Newton Oct. g. 1870.
COMMITTEE OF THE DIRECTORS.
CHARLES BUTLER, JOHN B. JEKYlS
ol9 If EDWIN C. LlTCHFIELD.