New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-11-10
fndnriai.
PROPOSALS FOR LOAN.
$500. 600 p n Q 4 s I II :; 4 J PA y

CENT MORTGAGE BONDS
tn. Northern Indiana Railroad Company otter iof sale
$500 oco Of ttsir psr cent mortgage ooI0' N''"
tsres, coupons annexed -, -.
Tn, nTs IN .uu. Of 81 go each payable ITuss the LIST
1851 with interest AZ per SEMI annually On Isl o'
February and list Of August, payable Al the ns'HA-
Rank IL his CITY, where the principal IS also PayAo. ~
are secured ~ mortgage 70 Shepherd Knapp Esq u
NezYork, N trust GoT the bond-holdsrs.
Thew are issued under acts Of the Lesisi2'ule o.
auther.4rr th.ir and the mortgage As Ao''''
erre n. same The amount OF bonds % De thus issued
pr5., ,Ae mortgage IS limited to one Million n dollars
s.eeooc of zach have been disposed Of and S6Voe are
TOW offered for sale.
Ttsmo-rs.gs covers the whole road Of the Company N
,rdara and IS the first snd only hen thereon.
..ntraces he entire line fom It's connection 1t the
s-a,, bre Of Michigan with the Michigan Southern road
tot hch It y IA ex;.nson through Elkhart NishAwaSa
South Bend apoe 70 the boundary Of Illinois about
100 mules. ns 20 and from Michigan CITY Of about -
miles csaneesn with the and line Of 10 miles from
Ekhar to Goshen-making IN al about l3o mules OF road
n. Company hold also by lease and contract, line from
the western boundary Of Indiana 10 Chicago OF aooa' u
miles.
Pvan existing contract between this Company and tAs
Michigan Southern Company, continuous line ofrsiEcad'
is armed rom the head of Lake Ere al Monroe and Toe
do IN avery through southern Michigan and
Northern Indiana Chcago-s distance frsn Monroe of
2s miles and from Toledo Of 2i3a 30 be under one su-
perutsndsnce and and for all practical pun
poses forming Joint interest
Al Chicago thus line II Road connects with the Chicago
aad Rock Island Road" to be extended 10 the Mississippi
River at Rock Island $50 miles long and watch under
contract
Also with the Chicago and Galena Railroad, about 81
miles of which s now completed and use the en-
tire hre Of which, Is expected, VIII be completed 70 the
Mississippi River IN all next year.
Also With the Illinois Central Railroad. to run hom
At Toledo II Hntes with the great cham OF Railroads
along the shore Of Lake Erie Cleveland. Dunkrk aud
Buffalo TINS whole south shore line VIII probably be
completed ID the course OF the next season. aad parts ci II
will be opened for use the present year.
The whole line Of Roads OF this Company under con-
tract the gran. and bridging GO miles are completed,
srd the rails LAID % miles of The has been pur-
chased for the whole Road from the boundary OF Moh-
igan to Chicago and OF delivered on the line
ready for use The Road finished 80 miles 10 South Bend,
70 which point the running from Monroe and
Toledo and the work Of laying down the rails IN active
progress upon the residue of the line The mann ns from
the East t. Lapoue (some % miles will be oPoned next
month and the whole road from Lake Erie to Chicago IN
March when the journey from Lake Ere TO Chicago
nav easily bc made IN S hours.
The means for the construction and equipment OF the
Northern Indiana Road provided by stock and bonds
Nearly one million Of dollars are subscribed to the seck
abont $3.50 600 of which is taken NewYork and the
Eastern States the remainder along ~ line N the hoad
An average Of per has been paid on these subscup
tons and the residue being regularly paid al the call Of
the Company
For providing the means required 70 complete
the work the Company issued their Mortgage Bonds
20 the amount OF million Of dollars ai as above
stated proceeds OF most OF which wanted to pay fo'
iron rails machinery, &c.
The mortgage empowers the Trustee, case OF failure
TO pay either principal TO take possession Of the
Road with ITS equipments and receive It's earnings or 30
sell the same on due notice and apply The proceeds IA
payment.
That this Road Will prove Of great usefulness and
rroft will at once y reference TO map Of its line
and connections being essential Ink in The great cham
of RAILWAYS from the City If New York 20 the Mississippi
River along the southern extremity OF the two great
Lakes trayersing As does of the most productive
agricultural regions the United States whe It's cost per
mile viii oe less half the usual cost Of railroads 81
the same class in the Eastern States As local road
alone giving an outlet the productive region 1t aveTses
1t confidently believed that viii pay large pront upon
ITS cost without reference 10 its connections
The proof of this found in the earnings Of the Michigan
routheru Railroad for the past five months which, until i've
connections formed 10 be regarded rs local road
and Of about equal length with the Northern Indiana
Road and travsrses country not more productive, VIZ
EoT May 1881 ...----- S2i427lFor August l3l--- 2N
For June, do 225lllFor September de- oz1
Tetal .. .....-.--.---- sl2e s54
Il Will thus be that the security offered OF the
highest character.
Sealed proposals viii be received for amount not less
than 81 OOO until 18th day of November next, at
O'clock NJ
Proposals. may be addressed 20 WINSLOW, LANIERk
CO. No % Wall St, or f. c. LITCHFIELD, Treasurer
Of the Company Bsaver- Endorsed Proposals isT
Northern Indiana Railroad Bombs"
Twenty-Five per cent Of the purchase money viii be re-
CURED paid immediately upon acceptance Of the bids
aud the remainder equal payments the a3h Of Nov9m-
Der and the 10th Of December next Any purchaser vii
b. at liberty to pay fl at once, and seresI upon the
bonds y B run from date Of payment
TAr,e hundred Thousand dollars tonehalf hs anne ant
Roi oiIered Will be disposed OF absolutely and without
reserve to the CHEST bidders.
The Company the right TO withdraw the feman-
der If the offers are not satisfactory.
All necessary information relation - the boDds, to-
ss,her with maps may be obtained by calling Winsos,
LansY Co. C. Litchfeld At either # which places
copies Of the bonds and mortgage may be had
GEORGE BLISS JOHN sTRYKER,
EDWIN c. LITCHFIELD, CALVIN BUhh,
HUGH WHITE. Committee Of the Directory.
New-Yors. Oct %. 1881. nj III
EALEN and CHICAGO UNION
~ RAIROAD-NOTICE TO STOCKHOLDERS
let DIVISlON-Notce rs hereby gwen 10 the Stockhod