The Sumter banner. [volume] (Sumterville, S.C.) 1846-1855, 1851-07-02
Wilmington & Manchester
!, s &c. EsssllsEs
RAIL ROAD.
$500, 900 SEVEN PER CENT. MORTGAGE
,48fs.g3- BONDS

SoVooOU SEVEN fER GENE. MORTGAGE |
.,rTofay BONDS.
GW Scaled proposals will he received BIZ
tho Subscribers until THURSDAY, the 10Th |
day of July next, for three hundred thousand
dollars OF the first mud only Mortgage Bonds Of |
the Wilmington and Manchester Railroad Com
panY, bearing interest at the rate Of seven per
able in the ev n0
the lst juno, 1866
The Bonds nrc in sums of s 900 each, with
coupons payable nt the Merchants Bank, New
York, Oh the lst December and Is, June in !
each year, convertible into the capital stock of
the Company, at the option OF :he holders.
They arc issued under acts Of the Legislatures
ct North md South Carolina, secured by
Mortgage, or Deed Of Trust, to Edward Sand.
iord, Esq, OF New York, in trust TOR the hold.
crs of the Bonds.
The Deed Of Trust covers the entire lire of
the the, Road completed and to be completed from
wilmington; IN n. C., TO Manchester, in S. G.,
d'stnncc OF l62 miles, costing, when compile !
TED TED with n heavy II rail and equipped, $1,000.
ooV. The extraordinary uiap,cdncss of the |
country to the construction Of railway nc
counts for this low cost.
The Trustee is empowered in case of GO |
DAYS default III payment of principal or inter.
est. to take possession OF the entire line Of Road
WIN lts equipments, stations, income, franchise,
DC, tho same to sell ut his discretion To the
Cipal or interest
The whole amoun, Of bonds authorized to be
ISSUED by vote of the Stockholders ut n meeting
der of the Rail Road, is 5000, 900 to raise means
TO pay the residue Of the iron rails and equip.
nents, only S3O0OO0 OF which are now offered
for sale.
The Company will owe no other deb, when
This road will prove un important link in the
great chninofrailroad from Boston, New York
nnl PHILADELPHIA 10 New Orleans, connecting
at Wilmington with the Raleigh md Whining.
IN
Manchester with the great South Carolina |
Railroad, leading from Charleston in the ,ircc.
lion of Montgomery, Alabama, now in the re-
ceipt of near million of dollars annually from |
its business; will avoid the present ,iisgryeable
sea voyage from Wilmington 10 Charleston |
shorten the travel TO New Orleans one days |
time, facilitate the mails, and will bring the |
South in more immediate and direct cun,n,lni. |
cation with the North
Tho position Of this Road, its connections |
North nnd South, its easy grades, ozone over |
thirty feet 70 the milc,j freedom from curves |
and cheap construction. is such To pnt il be- |
yond the competition Of any other line of road |
for the Immense inland travel between the |
North and New Orleans.
The greater part Of this Road traverscs the
most popnlous and fertile portions of South Car.
olna, producing cotton, corn, &c, in great |
abundance. Its local business alone will sup |,
port it handsomely.
The census of 1850 shows that the Dstrr, of
country which will he tributary to this Road
market, produced i'll 1919 seventy thousand
bales Of cotton, of an average weight each Of
45O lbs
The Company has one million of available
stock subscribed, most of which has been paid
an and applied to construction, to which can he
added at any time, ut the option of the Comm
ny, $500, 1000, subscribed by the Stale of North
Carolina, on certain conditions
1t is estimated tha. the net annual profits will |
reach II per cent per nnnuul.
About one half Of the entire line has been
graded and bridged, the cross-ties being in the
course of delivery, md will be ready for the
iron rails Immediately.
Tho entire line is under contrac, for grading
and bridging and in n forward state towards
completion.
Six thousand two hundred tons iron rails, r.
pattern, have been purchased and are in course |
About 100000 has already been expended in
construction, including payment tor the rails
purchased
chester East will be completed and in operation
IN the Fnlt Of this yepr, and the entire line 10 |
Wilmington early next year.
The management Of this Road is in highly |
respectable and competent hands. No work |
jim the South undertaken or projected meets
with more public favor than this.
For further and more particular information
we refer to printed Exhibit y giving full |
details Of the Road and its affairs. which
contains Map Of the line with it's many con.
hections, copies of the Bond and Mortgage,
opinion of counsel, &c, prepared by Cen W.
w. Harlcc, President Of lle Cunm,ny. which
may be obtained or application at The Office of
the Company at Wilmington, N. C.. or of
tho undersigned, by mail or otherwise, with
any other information desired
:, we deem the security dcsirnbe one The
states OF North and South Carolina, and the
various corporations chartered within their lin.
its, which have been borrowers of money huy,
uniformly and under the most adverse circum.
stances promptly met their pccuniary engage.
nents.--Pubic sentiment in those States Rus
always taken high ground in regard to punctunI
fuliilment OF public and private pccuniary obi.
cations.
The 100000 will be disposed of absolutely
and without reserve TO the highest bidders
Sealed proposals. for any amount not less
than $'1O00, will be received ut the Office of The
undersigned until O'clock on 10Th of july |
proximO.
Proposals to DO addressed TO NVINSLOW.
LANlER, d CO., 81 Wall street, New York,
endorsed "PRorosALs FOR w. d MAYcuEs, |
TER RAILROAD f'oNps.'
Parties whose bids arc accepted will be re.
Gnired TO pay twenty per cent, upon the amonn, |
awarded 10 them upon being notified of the nc |
ccptnncc Of their bids and the remainder in |
equal amounts on the first days of September. |
October, November and December next, bnt |
any party will be at liberty to pay in full at
once ifdesired. Interest will commence from |
the day of payment
WlNSLOW LANIER e. CO, 50 Wall IT. |
J,iuo lSsIi 1851. 81 1t