New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-10-25

Proposals flr Loan
5000. 600 nI!sf THEIR, H ERN / In n;
CENT. MORTGAGE BONDS.

CENT. MORTGAGE BONDS
TIE Northern Indiana Railroad Company offer for sale
100000 II their per cent. mortgage bones with N
terest coupons aunered
They uIe IN OF 81 90 each payable August Inc ls
1861, with interest per annually Isl OF
February and LIST of August payable at the Mechanics
Bank IN this City where the pr ncpa Is also PAYABLE and
secured by mortgage 20 Shepherd Knapp Esq. Of
New York, IN trust for the bond holders.
They issued under acts the Legislature of Indians
authorizing Their issue aud the above to
the same The of bonds 70 be thus issued
under the mortgage, limited to One Million Of dollars.
$4,000 OF which have been disposed Of and Se0Oooo are
now offered for sale
The mortgage the whole road Of the Company
Indiana. and IS the first and only lien thereon
This embraces the entire line from its connection al the
State line OF Michigan with the Michigan Southern road
(o which Is an eIension through Elkhar, Nshawaka.
South Bend ard Lapoe the boundary Of Illinois about
100 miles line to and from Michigan City Of about IS
miles. connecting with the and line Of 10 miles from
Elkhar to Goshenmakng all abou, l35 miles of road
The Company hold also by lease and contract ane from
the western boundary Of Indiana to Chicago OF about 10
miles.
BY existing contract between this Company and the
Michigan Southern Company continuous line ofrlroais
formed from the head If Lake Enc Monroe and Tole
do very direct through Southern Michigan and
Northern Indiana 10 Chcagoa distance frsm Monroe of
2.e miles, and from Toledo of 2i,a to be under one SUI
perneudence and cement and for all practical pGr
poses forming one joint interest
Al Chicago tins line Of Road connects with the Chicago
and Rock Island Road. be extended the Mississippi
River Rock Island $50 miles long, and which under
contract
Also with the Chicago and Gaena Railroad, about 81
miles of which about completed and the
tire line of which, expected, will be completed to the
Mississippi River in al next year
Also with the Illinois Central Railroad, 10 fon
Cairo. at the mouth Of the Ohio River, TO Chicago.
At Toledo it untes With the great cham of Railroads
along the shore of Lake Ere to Cleveland Dunkk and
Buffalo This whole south shore line Will probably be
completed the OF the next season, and parts Of il
will be opened for use the present, year.
The whole line of Roads Of this Company under cor
tract the grading and bridging 60 miles completed,
and the rails laid 30 miles of H. The has been pur
chased for the whole Road from the boundary of Mich
gan to Chicago, and most Of Is delivered on the line
ready for use The Road finished 30 miles South Bend
which point the now running from Monroe and
Toledo and the work Of laying down the rails active
progress upon the residue OF the line The main line from
the East Lapore some Sc miles will be opened nett
month and the whole road from Lake Erie to Chicago m
March next when the journey from Lake Erie to Chicago,
nav easily be made IN hours
The means for the construction and equipment OF the
Northern Indiana Road provided by stock and bonds
Nearly one million of dollars subscribed to the stock,
about $3.50 600 OF which taken IN Newfork and tue
Eastern States the remainder along the line OF the Road
An Of per cent has been paid these subscp
tcs and the residue being regularly paid at the call Of
the Company.
For providing the remaining means required 10 complete
the work the Company have issued their Mortgage Bonds
TO the of million Of dollars in ALL as above
stated proceeds of OF which wanted 70 pay fx
iron rails, machinery, &c.
The mortgage empowers the Trustee. Of failure
q Oh
Road with equipments and receive is earnings. or 70
sell the same on due notice and apply the proceeds
payment
That this Road will prove of srea, usefulness and
profit will be by reference TO map OF ITS line
and connections beng essential link in the great chain
Of railways from the City Of New York TO the Missssipp
River along the southern extremity Of the two great
lakes traversing AS does of the most productive
agricultural regions the United States while It's cost peg
mile Will be less than half the usual cost OF railroads
the same class the Eastern States. As local road
alone giving an outlet the productive 1t raverses
II is confidently believed that will large profit upon
its cost without reference to its connections
The proof of this found in the earnings of the Michigan
southern Railroad for past five months which, until its
connections are formed be regarded local road
and IS Of about equal length with the Northern Indiana
Road and tIaverses a country not productive rz
For May i85l...---- S2A427lFor August lSjl--- 296
For June do...--- 225lI For September do s52i'
For July, dO.-.------ 1OoO5i -.
Total. by@
Ity, thus be seen that the security offered of the
highest character.
Sealed will be received for amount not less
than 81 Geo. until the 18th day Of November neIt at
o'clock r NJ
PROPOSALS NAV be addressed to W1NsLOW, LANER
CO. No 50 Wall st, OF L. {. LIfCHFIELD, Treasurer
Of the Company No "A Beavers Endorsed Proposals f
Northern Indiana Railroad Bonds"
Twenty five per Of the purchase money VIII be re-
oured to be paid Immediately upon acceptance Of the BIDS
and the remainder equal payments on the 2oth Of Noven
Der and the 10th Of December next Any purchaser VIII
be at liberty to pay full at and interest upon tae
bonds will run from date of payment.
Three hundred thousand dollars -halfhe amount
now Ioifered will be disposed Of absolutely and without
reserve. to the highest bidders.
The Company the right TO withdraw the remain
der If the offers not satisfactory
All necessary information IN relation TO the bonds. To-
.e,her with maps may be obtained by calling on Wnslow
Ianier Co.. f. c. Ltchhed, at either Of which places
comics of the bords and mortgage may be had.
GEORGE BLISS. JOHN sTRfkER'
EDWIN C. IITCHFIELD, CALVIN BURR.
HUGH WHITE, Committee OF the directory.
New-York, Oct. 20, 1901