New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-10-27
Proposals for Lsa
Proposals for Loan
5000. OtNjHM ',sf Fi \ ERS 1N,

TONVf.NNVt DIANA RAILROAD PEa
CENT MORTGAGE BONDS.
The Northern Indiana Railroad COmpsnr sfer for sale
5000 eco Of 'hsir pes mortgage, bonds with m
teresi coupons saaeTsd
They sans Of 81 coe each parable August the LIST
1851 With p-or,st a; per ces, ssm ansuAlI en- LIST
February and lss Of August payable al the Seraincs
Bank 10 this City where the principal also payable ana
a-e secsred by mortgage TO shepherd Knapp. ESD, Il
New Yak 10 trust for the bond holders.
They are issued under otas Legislature Of tstans
authorizing their ssus and the mortgage above. TO
the The seount of boBds t. be thus ssaed
under the mortgage IS limited Ose MiAos Of nlars.
SOO Of which have disposed Of ami $500 90 are
offered for sale
The mortgage cover. the whol. road the Company
Isdrana and is the first ssd only hen theresn.
This embraces he line from connection n ne
State line Of Michigan with the Michigan Southern read
(of which is eTtenson through Elkhsrt hshawsks,
South Bend and Laporte boundary of Illinois sboat
100 miles lias to and from Michigan CITY Of abou, u
niles with the and line of 10 mhes fton
Elkhart Goshen-makins all about 1856 mes of read
The Company hold also BY lease and aiae su
the western boundary Of Indiana Chicago Of shout
miles
By existing contract between this Company and thu
Michigan Southern Company continuous line ofrsircads
formed from the head Of Lake Enc Monroe and rols
do in svsry direct through southern Michigan and
Northern Indiana Chicago-s distance frsm Monroe ID
Pas miles and from Toledo OF 23-sll to be under
pernendence and management, and for al practical par
poses forming one joint interest.
AT Chicago tins line OF Road connects with the Chicago
and Rock Island Road TO be extended to the Mssnppi
River at Rock Island 1870 miles long, and WHICH ssdsx
| contract
Also with the Chicago and Gslena Railroad, sbout 81
miles of which about completed AID IN the
tire line Of which, expected will be coupleted to the
| Mississippi River III all next wear
with Illinois Central Railroad
| CAIRO at the mouth Of the Ohio River. 20 Chicago
Al Toledo it unes with she chain Of Raii DADS
along the shore of Lake Enc Cleveland, Dunkirk md
Buffalo This whole south shore lns will probably be
completed the Of the next and parts NJ IL
| Will be opened for the pTesen. year.
The whole line of Roads OF this Company sadeS
tract the grading and bridging miles completed.
and the rails laid 80 miles Of This iron has beea
chased for tie whole Road from she boundary of Mch
igsnto Chicago and most Of is delivered on the line
ready for The Road finished 80 miles e. South Bead.
20 which point the running from Monroe and
Toledo snd the work Of laying down the RAIL. IN active
progress upon the residue the line The main Lne from
tie East Laports (some Sc miles will be opened next
month and the whole road from Lake Erie to Chicago
March next when the Journey from Lake Erie to Chicago,
| may easily be made in hours
The means for the and equipment u the
Northern Indiana Road provided by stock and bonds
Nearly one million Of dollar, subscribed TO the stock,
|
Eastern States the remainder along the line the Road
Ansyease Of SO per has been paid these subscp-
ns and the beng regularly paid at the can Of
the Company.
For providing the remaining required to complete
the work. the Company have issued their Mortgage Bonds
10 the amount of one million of dollars ALL above
stated proceeds of most Of which wanted to pay or
| iron rails, machinery. sc.
The mortgage empowers he Trustee, M case ~ failure
to pay either principal TO take possession of the
Road with lis equipments and It's earnings. or to
sell the same due notice and apply the proceeds m
| payment
That this Road will prove Of usefulness and
motif will at once be by reference Of rs line
and connections being essential link IN the great chaa
of railways the City Of New York to the Mississippi
River along the southern extremity of the two great
Lakes, traversng as does of the most productive
agricultural regions the United States. while its cost ps
mile will than half tho usual cost OF railroads.&c.
the same class m the Eastern States As local road
.oue giving outlet the productive region traverses
it's confidently believed that will large profit upon
| its cost without reference to its connections
The proof Of this is found the earnings Of the Michigan
Southern Railroad for the past five months which, until its
connections formed is to be regarded as local road
and of about equal length with the Northern Indiana
Road and uaversss a country not more productive. VIZ
For May 1851 ----- S2i427IFor August, lS5i.--- AiS
For June, 225ll For September do JAN
| For July, do------ UooSi ,,,c a..
Total -si'o''''
IL Will thus be that the security onoTed 10 OIL tae
/ highes character.
Sealed proposal will be received for amount rot less
than $1,000 until the 18th day Of November next, at
| o'clock NJ.
| Proposals may he addressed to WINSLOW. LANHR
! CO. No 50 Wall 81 or T.. c. LITCHFlELD, Treasurer
ofthe Company No II Besvers Endorsed Proposals for
| Northern Indiana Rsroad Bonds
Twenty-Five per of the purchase money will ne re-
aed to he paid Immediately upon acceptance of the bids
ard the remainder equal payments the 25h of Novem-
Der and the 10th December next Any purchaser VIII
be at liberty to pay full ut and interest upon the
| bonds will run from date OF payment.
Three hundred thousand dollars (one-halt the amount
now offered will be disposed Of absolutely aud without
| reserve, to the highest bidders
The Company reserve the right 20 withdraw the eInan-
| der II the offers are not satisfactory.
All necessary information relation to the bends. TO-
se,her with maps may be obtained by calling on Wnslow
Lanier Co. or E. c. LItchheld at either II which places
| comics of the bonds and mortgage may be had
| GEORGE BIISS JOHN STRYKER,
EDWIN C. LITCHEIELD, CALVIN BURR
| HUGH WHITE, COMMITTEE Of tAo directory
New-York, Oct 90. 1851.