The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-02-21

governed by the state Of the cotton market aud there
fore IL 10 nst enssgh; however, We shall have
doing sosa D cause sPsnsrs are g:sax out Of stock
crop accounts 30 far oottSa has com g weak hands
to parties Who nast sell bat your crop sstiussss
Snestasy ssous ana .s
BY those who Jet psrst esim .ss Of 1855 900 b,ss
and under. Fair Upiands sold at Tld yesterday The
prices shade better
1t will b BY en- sdvertissm snt In another column
that the Lafayette and Raj road Company
will sell ct auction, ct the Merchants hsngs Wall
street on the 9th OF February, iust three hundred
and fifty thousand dollars (t3s0 O00J seven per cent
bonds secured BY the 6rst and only Hen upon the
entire road and all Its equipments, Cultures aud ap-
purtenances The trustees TO this mort gage Joseph
b. yarnum and Edward whitshouss OF this city and
the Hon. Albert White, Of Lafayette indiana. Toe
proceeds this sale of bonds viii be appropriated to
the purchase OF rails. The superstructurs, grading
and every expenditure the track but that for rails
and them has been provided for by the
iseue OF stock, which amounts to two hundred aud
sixty two thousand dollars (S262 OOo The road when
completed, will be sixty two miles long and will pass
through the most thriving and fertile sections Of
Indiana 1t Ia direct extension OF the Madison and
Indianapolis road to the Wabash canal and river and
forms important link in ths chain OF roads, that
will connect Chicago with Madison and Cnoinn on
the Ohio.
Lafayette is connected with Lake Erie by tn, Wa.
bssh and Erie canal, and enjoys steamboat navga.
ton to New Orleans and the other cities Of tho Mss
.ppi and the Ohio, from four to six months In the
yesr-whch 10 constantly enlsIging by the improve.
ments now making in the Wabash river. II Is the
fourth city In numbers in Indiana polls being
the second) and the nrst In commerce. II TO
define parslleosrsm, ray 90 miles in width by 500 In
length which should enclose the RICHEST land In the
Mississippi Valley, and most capable OF agrcultursl
production, Its eastern end would bs the Miami VAL
ley including Cincinnati it, northern line would skirt
the south shore of Lake Michigan, while its western
erd would be watered by the upper Mississippi and
include the rich prsriss Of eastern Iowa From Gin
cinnati, the manufacturing capital of the West two
lines of navigsble water proceeding the Ohio and Mis-
sssippi rivers the south and the great chain of
lakes on the north, Drought do~n to Cincinnati by
canal) almost meet at the western extremity of this
psrallelogrsm 1t IL obvious that central railroad
line to connect these two extremes and to drain the
vast products OF the interior we'll for personal
communication between re ions closely related,
must be an important one.
No less than We roads, built building iato Indiana
polls from the south and east will seek
outlet the Lafayette and indianapolis road And
bash river from Springfield Illinois to South Bend,
Indiana, make a focus at Lafayette. The Northern
Indiana Railroad Com pany, which has affiliated with
the Southern Michigan has secured the RICH. to build
to Lafayette from South Bsnd Michigan City, and
propoee to exert 1t at early dsyths Central Mich
gan PROTECTING to do the same thing. And this line
from the Southern Michigan falls Lafayette almost
into inuity With the Northsrn Gross Rsiroad of
Illinois now in the hands OF the Morgan and ssusa
mon Railroad Company on which, by their contrac.
with Illinois they required during the present and
each succeeding year to erpsnd at least $4,000
of spriDgaeld-the State having already in part
graded the line. -
One hundred aud twenty Eve miles Of direct extsn.
zion of the Lafayette and Indianapolis Railroad over
an unbroken surface Of rich and dry prairie, brings
TO Juliet or Lsekport the Illinois Central, and in
very direct transit to Chicago. An EN- pire, so to
speak 10 growing up north west of Lafayets, composed
Of trading and travelling people, who, In their
journeys being forced the head OF Lake Michi
gan viii not all thence take the lake shore route bu.
either s7irg returning viii choose pass along the
Genital line. and through Western capitals which
10 addition to the strong attraction Of Cincinnati will
bring thou,aras upon this road
The chartered capital o. this company Ia nine hun.
drsd thousand dollars but the road viii be constru tsd
and fully equipped, fsr less than that amount The
charter Is in every respect OF the most favorable
character aud without restrictions to proofs d.
vidends. II vii be seen by these statements that the
bonss oft;s com any hold out great inducements to
capitalists The high rate Of interest their security the
resources Of the company for trafc, the loE cost
the road the large prospective divasnds the CONVEX
Utility Of the bonds into stsck and the payment Of in
tersst In THE city place these securities In the fs.
rank, and will without cosbt, make them sought
after The bonds will be i,sued in sums OF 81 900 each
coupons attached dated February Is 1851 rsdsemabs
in ten years Terms Of payment, and further parteu
lars will be found in another column.