New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-11-08
FINANCIAL.
RUICHIGAN SOUTHERN RAIL
Nv MAN rpApAarU ION nnn cu,IruN

MICHIGAN SOUTHERN RAIL-
ARQA6 o90 SEEN FER ;
Bonds ofthe Michigan Southern Railroad Company bearing
November next
These bonds are issued under the provisions or special
actof the Legislature Of Michigan, authorizing the Company
dispose OF or sell their obligations either within or with
out that State at ouch rates or prices as may 9eedupon
and sold below par TO be as binding as sold NJ par
They are secured by mortgage executed 10 Shepherd
h kdpn Esq the City OF Ns"Y0k IN trust for tue bond
This mortgage covers the entire line of the Companya
Road in Michigan, whether already built or hereafter to be
constructed and provides that bonds 10 an amount not OK
ceedng million of dollars in all, may bessued; OF which
amount not more than S00OO can be issued until utter the
Road shall have been completed to Snrges' Prairie dis
of III miles from Lake Erie which point i! will be
| completed by the first OF January next
The security offered for the bonds is therefore mortgage
lien aud substantially the only Lien, upon road which
when complete to Tie sate line OF indana VIII nave near
ly 40 miles OF main line beside branch OF 10 miles and
which wall have cost, including the original outlay oy me
State and tho rcayng the prosest truck, about S250OVf
| of which ; ,5Co 600 viii be represented by stock.
The portion OF the road already in oPeraon about 20
miles yields income ample to protect the entire debl
proposed becreaed and The length Of completed line
and consequent increase revenue is daily Increasing az
forng security which will place the payment OF me deh
| beyond all contingencies.
September $2e48g These receipts were derived rom the
road in iis present unfinished condition Fiity mica OF
completed road will be added to il within three monLhs
and will be extended TO The St Josepha River at The ndl
State line, early next Spring. thus doubling he length
oftlc main line now in operation
This road is part Ot continuous line OF Railroads. from
The City of NewYork the Mississippi River by way OF
the Erie Railroad and the Lake Shore Road and ID an I'M
portant link i'll the chaln
Nearly the whole of this great line from NewYork 10 the
Mississippi River either completed or IN the course oil con-
atruction.
Az The neana for the construction OF The road ready for the
iron provided by stock subscribed ana peis paie m
by regular Instruments and the proceeds Vi we 9o ;
mainly required for the purchase OF ron Ieas5 6s tbs
public offer greater Involvement for saie uYeSiou' ]
those OF this Company. -, Attn.
TIE mortgage empowers Trustees, in case OF aare
TO Day principal of the bonds 10 axe Possea
Of The road and receive its earnings or 20 e ~ va 1Gs
notice, and apply The proceeds 10 Ihe eA'in Al'" " ~
Tie bonds are In sums OF 900 each payable al the Me-
chanic5 Bank, in the City OF HeNi oIh '9Y - aP'U %
interest per ceu per annum payabie seul,ehhua
" in Nc-York on The 1T NOV. aud lst May Interest
warrants or coupons, are attached 10 The 1onds
FOur hundred thousand dO!afS OI ud DOnus arp no" w
fered for sale a, nan ~,
be received unl lie l5ll day OF November next
Proposals may be addressed 10 WlNSLOW, LANlER
co 81 Wall-sl T.. C. LIrcHF1ELD, Treasurer, %
Waks Endorsed Proposals for Michigan Southern Rail-
road Bonds"
gaze coo thalf The oferedl will DC disposed
OF absolutely and without reserve 10 the highest bidder
The Company reserve the right 10 withdraw the femande5
If the offers are mol satisfactory.
Unnecessary Information 10 relation 10 the bonds, ogeth
with maps. may be obtained By calling on WlNSLOW
LANIER co. or z. C. ITCHFIELD. al either of which
places copies OF the bonds and mortgages can be had
Copes Of Tie bonds and mortgages may also be seen 90
application 70 Shepherd Knapp Esq President Of tbe Ne.
caic Bank or TO James Van NoaIrand Esq President Of
the Merchants Exchange Bank.
Parties whose bids accepted will be required 10 pay
. per cent npon lie awarded TO them immediately
npon being notified Of the acceptance Of their bids and he
remainder IN equal amounts the ls and 10th OF Deem.
Der neXt but any party w be al liberty 20 pay N iuH "a
once. Interest vii commence from he day OF payment
New-York, Oct 8, 1880
CoHMIrTEE CT TIE DIRECTORS.
GEORGE BLISS, JOHN STRYKER,
CHARLES BUTLER JOHN B. JBRVIS,
ol9d EDWIN C. LITCHFIELD.