Weekly national intelligencer., 1851-10-25
100000 NORTHERN INDIANA RAILROAD
1PER CENT. MORTGAGE BONDS.

rest coupons annexed.
They of 900 each, payable August the lst.
1861 with interest per semannualy the Of
February and LIST of August payable the Mechancs Bank
in this city where the principal j; also payable and are E
in trust for the bond-holders
They issued under acts Of the Legislature of Indiana
the The Of bonds to be thus issued
der the mortgage is limited million Of dollars 900
Of have been disposed Of and now offered
for SALE
The mortgage the whole road of the Company
diana, and is the first and only lien thereon.
This embraces the entire line from its connexion at the State
line Of Michigan with the Michigan Southern road of which
it extension) through Elkha Mshawaka South Bend
line to and from Michigan city Of about Is miles, connecting
with the and line Of 10 miles from Elkhart to Goshen
making in all about 135 miles of road.
The Company hold also, by lease and contract line
from the western boundary Of Indiana to Chicago of about
Is miles.
Michigan Southern Company continuous line of railroads il
formed from the head of Lake Erie Monroe and Toledo
Hey e ana as e
and from Toledo Of 243a to be under perntendence
and management and for all practical purposes forming
At Chcago this line Of road connects with the Chicago
and Rock Island Road" to be extended the Mississippi
river at Rock Isnd $50 miles long, and which is under
contract.
Also with the Chicago and Galena Railroad about 81 miles
Of which about completed and in the entire line Of
which, it expected, will be completed to the Mississippi
Also with the Inoi. Central Railroad to from Cairo,
u
Toledo unites with great chain Of railroads along
the shore of Lake Erie to Cleveland Dunkrk and Buffalo.
This whole south shore line will probably be completed in
the of the next and parts OF will be opened
The whole line Of roads Of this company is under contract
the grading and bridging sixty miles are completed and
chased for the whole road from the boundary Of Michigan
Chicago and of it is delivered the line ready for
The road finished thirty miles to South Bend to which
point the running from Monroe and Toledo and
the work of laying down the rails 10 in active progress
the residue OF the line. The main line from the East to La
porte lsome fysx mile) will be opened next month, and
the whole road from Lake Erie to Chicago in March next
when the journey from Lake Erie Chicago, may easily be
made in eight hours
The construction equipment the North
ern Indiana road are provided by stock and bonds
Nearly million OF dollars subscribed to the stock
about 900 Of which taken in New York and the East
Staes the remainder along the line of the road An
average of cent has been paid these subscriptions
and the residue being regularly paid at the call of the
company.
For providing the remaining required complete
the work. the company have issued their mortgage bonds
proceeds Of most Of which wanted to pay for iron rails
machinery, sc.
The mortgage empowers the Trustee of failure
pay either interest principal take possession of the
the on due notice. and apply the proceeds in payment
That this road will OF usefulness and profit
will At once be seen BY reference to map Of its line and con
from the city Of New York the Mississippi river along the
southern extremity Of the two great lakes, aversinS it
does Of the most productive agricultural regions the
United Sates while its cost mile will be less than
halt the usual of railroads of the class in the Eastern
States As local road alone giving outlet the pro-
ductve region averses it is confidently believed that it
will large profit upon its cost without reference to its
connexions.
The proof of this found in the earnings Of the Michigan
Southern railroad for the past five months which, until its
is of about equal length Northern Indiana road
traverses country not more productive, viz: