New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-10-16


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NFEaBTGAN sOUTHERN RAILROAD COM.
LfsPAhY.-@40O,00 SEVEN PER CENF aoRf
GAGE LOAN-SeAled proposals for four hundred thou
dollars Of the fret and only Mortgage Bonds OF the
Mchigsu Southern Railroad Company, bearing per
cent interest," will be received until 18Th day OF November
next.
These bcnds issued under the proylsons of speca
act tho Legislature OF Achgan, suhoriziig tho Com
pany 10 dispose Of or aell their obligations either within
or without that Eete, such raes prices may be
agreed upop ana sold below pA be binding Il
told al par
Ftey are occurred by mortgage executed 10 Shepherd
Knapp Esq of he City Of New York In trust for tbs bond
holders
Rhs porigpge covers line OF ,hs company =
Ropd in Michigen whether already built hereafter
conthu1ed md II provides that bonds TO amount not
exceeding million Of dollars in ell may be Issued; OF
which than 100000 can Issued until af.
Ter the Road ahs have been completed Sturees Prairie
dis ance OF III miles from Lake Erie which point
wiibe completed by the frat of January
Fue securty offered for the bonds is therefore mortgage
lien ard substantially The OILY Hen, upon road which
when complete to the stae line OF Indiana, will have near
IL 4O niles of line, beside branceofO miles, and
which Will have cos including the original outlay by the
slne and the reByng the present track about $25VO9
OF which 81 500 GEO will be represented By stock.
Tire portion OF The road already IN operation about 70
miles Yields an income ample to protect the entire debt
proposed be crested and tbs lensth OF completed line
apd increase of revenue daily increasing 81
ordpg security which Will place the psymeniof The debt
beyond all Contingencies
For August 1850, ihe earnings were $l6,4l7 Y. 10
Eepienber $2O46O The1e rseepts derived from The
road in II. prescnt upfn,hed condition Fifty miles OF
completed road will be added TO Il within three months
and Will be extended the 81. Joseph River al lhe lnd
arr State line early Spring, thus doubling the length
of the main line in operation.
This road ia part OF continuous line OF Railroads from
the city OF New York 10 e MafitsPp River, hy way OF
the Erie all road and the Lake Shore Road and s en- I'M
porisnt Iink il the chain.
tearly the whole OF this line from NeYofk tc The
Mssi,sppi River ia eiiher completed In ihe course
construction.
As the Iaeans for the construction of the road ready for
he are provided orby stock .ubsc.bed and being paid
in BIZ regular nsnmens and the proceeds OF the bonds
are any required for the puTchaae OF iron heavy TAIL
and equipments ss believe that 90 railroad bonds before
the public offer greaIsr nducsmanl Tor sAe hTs' eI An
hose OF this Company.
Tie mortgage empowers the Trustees N Gaze OF faure'
10 the principal or nterc, Of bonds take posses
ion OF the road and ecsive its earnings or to sell It Oh
due notice and apply the proceeds TO the exDguisanen'
OF the debt.
4be bonds are In gums OF $1,000 each payable at the
Mechanics Bsnb the City OF New ork, Nov lsl 90e
with nte per cent per snnum payapls sen-
arr
Interest warrants coupons attached to the honda
-Four hundred thousand tollar1 OF the bonds are now
offered for sao. .,,
gesled proposals. any amount not less han y OoV VII
he received until the 18th day OF November next
P,oro,sl, nav be addressed TO WINsLOW, LANlEk y
co 81 Wslst or to Z, C. LlTcHFIBLB, TREASURED o.
Watu. indorsed Proposals Tor Michigan Southern Raj
road Bonds"
AGO 600 th.f the amount oered) will be dissosed
Of absolutely and Without euerve to the highest oooef
The Company reser9e The right to Withdraw the remainder
# the offers are not Satisfactory.
Annecesssry information IN relation TO ihs oonas' "
eether with msps may Obtained by cslllng on WINS,
Low. LANIER & co. or E. C LITcHFfELD' al elmer o.
cb places copies 1.-THE bonds and mortgage can be hao
Copies Of the bonds and morigsge may also oe an "
application 10 Bbepherd Knapp, Esq President ol he as
ch.rics Bark or to James Ven Nosrand Esq ffo'losl
OF The MercbanEa' Exchange Bank,
Parties whose BIDS accepted viii be requifeQ 70 PA5
o. cert upon The amount awarded 10 them ilsdiaIs
Il mon being pohed OF The acceptance OF thar 64as
tb renardsr IN equA on me s' snd lon oil pe
rez, bu. npy rary viii be al liberty 10 cay IN la
8. once Iperas; v III commences !fom the day payment
Nev.York October 8, 1850
GEORGE BLISS
CHARLES BU*LER
JOHN sTRYKER
John g. JERVI5,
EDWIN G LITCHFlELo,