New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-10-18
FIN ANCIAI4.
RA | l.

MICHIGAN SOUTHERN RAIL
HRoAD Wa 0o0 DG sGSES for rG four
frsd bomsand dollars of The first md only Mortgage
Bonds ofh Michigan Southern Railroad Company bearing
per cent interest VIII be received uui Io DAY OF
these 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 State such rates prices be agreedupon,
and if sold below par to be us binding as sold at par
They secured by mortgage executed to Shepherd
Knapp Esq othe City OF NewYork, IN trust tor the bond
holders.
This mortgage covers the entire line of the COmpanys
ROad in Michigan whether already built or hereafter 10 be
constructed and provides that bonds amount not
cceng million dollars in all may eissued of which
amount not than 300 900 be issued until after tile
Road shnll have been completed Surges Prarie dis
of III miles from Lake Erie 10 which point 1t VIII be
completed by the first OF January next
The security offered for the boudis therefore mortgage
lien, and substantially the only lien upon road Which
when complete the stHte line Of Indiana, viii have near
ly 40 miles OF main line, beside branch of 10 miles, aud
winch wal have cost including the Original outlay by The
State and the RELAXING The present track, about S21OOOO0
of which 81 1000 will be represented by stock,
Tie portion OF the road already in operation about 70
miles, yields I'm income ample TO protect the entire debt
proposed be created and the length OF completed line
and consequent increase ofrevenue is daily increasing al
lordng security which will place the payment OF the debt
beyond Hll contingencies
For August 1850 the earnings Sl6,4l7 o. For
September S2048O These receipts derived from the
road in lis present unfinished condition Fifty miles Of
completed roud will be added to It within three months,
and will be extended to the St Josephs River the ndi
ana State line, early next Spring, thus doubling the length
oflhc main line NOW in operation.
This road is part OF continuous line of Railroads from
the City NewYork to The Mississippi River by way OF
tie Erie Railroad and the Lake Shore Road and is an inn
potHnt link IN the clan.
Nearly the whole OF this great line from NewYork the
Mississippi River is either completed orn the course OF CON
sIrltcion
As emeas for the construction Of the road ready for the
iron provided for by stock subscribed and being paid ill.,
by regular nsalmets and the proceeds OF tue bonds are
mnny required for lie purchase OF iron heavy II rail and
equipments il Is believed that no railroad bonds before the
public offer greater inducement for safe investment than
those OF this Company.
The mortgage empowers the Trustees, in Of failure,
bonds
sion Of le road aud receive It's earnings sell it, on due
notice and upPy the proceeds to the eXngsmen Of the
debt
The bonds are in sums of 81 600 EACH payable at the Me-
clanics Bank i'll tie City OF NeWYOrk Nov l. 1860 with
interest at seven per cent per annum, payable semldnnla
IL in New orb the 1s Nov. and st May Interest
warrants coupons, are attached to the bonds.
-Four hundred thousand dollars OF the bonds are now Of
f-red for sale.
Sealed proposals for any not less hnn 81 600 will
be- received until the 18th day Of November next.
Proposals may be addressed to WINSLOW. LANIER q
co. - Whilst or 10 T. {. LIrcHfiELD, Treasurer, 62
Nal-st ndOrsed Proposals for Michigan Southern Rail
road Bonds
$2O00GO 0taf the amount now ofered) viii be disposed
of absolutely and without reserve 10 the highest bidder
The Company The right Withdraw the remainder
II the Offers are not satisfactory
All necessary information in relation TO the bonds togeth-
er with uups may be obtained by calling on WINSLOW
LANIER < co or T. c. LITCHFIELD, at either OF which
places copies of The bonds and mortgages caH be had
Copies of the bonds and mortgages may also be
nppcHionto Shepherd Knapp, Esq President OF the Me
CHANCES Bunk to James Van Nosrand, Esq President Of
the Merchants Exchange Bunk
Parties whose bids accepted viii be required pay
p per cent npon the amount awarded 10 them Immediately
npOn being notified OF the acceptance OF their bids, and the
remainder in equal the LIST and 18th OF Decern
her next bat any party will be liberty pay in u
Nelg-York Oct. 8 1850
GEORGE BLISS, JOHN STRYKER
CHARLES BUTLER, JOHN b JERViS
OILS EDWIN c LITCHFIFLD