New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-06-28
WILMINGTON and MANCHESTER

n u
w RAILROADS.&C. seven per cent. MORT
GAGE BONDS-Sealed proposals. VIII be received by the
Tor three hundred thousand dollars Of the first and pny
Mortgage Bonds Of the Wilmington and Manchester Rail
road Company bearing interest at the rate II seven per
cent per snnum principal and interest reieemabc the
CITY u NewYork' the principal on The lst June, 1900
Die at the Merchants Bank. NewYork, the is Decem
Der and Isl Juae IN each convertible into the capital
They issued under acts Of the LEGISLATURES o North
and South Carolina secured ~ Mortgage, OF Deed #
for the holders Of the Bonds.
completed and 10 be comble from Wilmington " c.
10 Manchester IN c. distance Of 52 miles. costing
whencompeted with heavy rail- and ca tipped s 6OO0Oo
The extraordinary adapedness OF the country the
structon Of railway accounts for this low cost.
The Trustee Is empowered IN case OF % days default in
ment of principal interest u take possession Of the
entire line If Road with It's equipments, stations, income
franchise, sc, the same 20 sell At hs DISCRETION to the
highest bidder for cash T. pay arrears Of principal OF m
The whole amount Il bonds authorized 10 be issued by
othe stock holders meeting called for that purpose
in Apr last and an order Of the Railroad Board 5000
70 raise 70 pay the residue Of the rails and equip
nents only $500 600 Of which offered for sale
The Company will owe DO other debt when the road Is
Tins road Will prove important Ink the great chain
Of railroads from Boston NewY0rk and Phllade pha 70
Orleans. connecting Wnington with the Raleigh
and Wilmington Railway, in successful operation
Manchester with the great South Carolina Railroad leading
from Charleston the direction Of Montgomery Alabama
now the receipt ofnear million dollar. annually from
It's business vii avoid the present disagreeable voyage
from Wilmington 10 Charleston shorten the travel y New
Orleans days time. facilitate the mails and Will bring
the South in more immediate and direct with
The position Of this Road connections North and South
It's easy grades none over thirty feet 10 the mile freedom
from curves and cheap CONSTRUCTION, such % put be-
yOnd the competition Of any other line Of road for the
mense inland travel between the North and ewOreans
The greater Pa Of ts Road rayerses the most pOpuOus
and fertile portions Of South Carolina, producing cotton
corn sc IN great abundance Its local business alone will
The census Of 1880 shows that the district Of country
which viii he tributary 10 this Road, and dependent Il
for transportation 10 market produced iSt9 seventy thou
sand bales 81 cotton " average weight each Of 40 bs
The Company has one mllOn Of available STOCK subscnb
ed most OF which has been paid Ia and applied constnlc
ton 10 which added any time at the Ouon Of the
Company goo 0oo subscribed by the State Of NOrthCa
1t es,lmaied nasthe annual profits VIII reach u
About nnehalf Of the entire line has been graded and
bndged the beng the Of delivery and
viii be ready flr the non rails lmmeiIatelv
The entire line under contract for grading and bridging
snd III 4 forward state toward completion.
SIX thousand hundred runs rails pattern have
been purchased anu are N the course II dsivery.
About 500 200 has already been Ipened constr
including payment i0T the rails purchased %.
Il expected that about 90 miles from Manchester East
VII te completed and operation the Fail u this year
and the entire line % Wilmington early next year
Tie Management Of this Rad a n highly AMI
Competent hands No work the South undertaken u
projected meets with more public favor than this.
For further and more particular Information refer %
printed EXhib giving full details Of the Road and ~ az
mrs which contains Map Of the line with is many CON-
necors copies ofthe Bond ard Mortgage opinion OF Coan-
sell &C, prepared by Gen " w. Harlee Presdeui Of the
Company, which may be obtained application at the Of
fee Of The Company al Wilmington, c or of the under
slTet.
We deem the security desirable The States Of
North and South Carolina. and the corporations
chaere within then Limits whch1ave been borrowers d
neaey have uniformly ahd under the most adverse ccnm
stances promptly e their pecuRlgy engagements Public
sentiment u those States has aBays en- his ground m
regard u punct fuhment u pablo and prva. pc1nay
obligations.
The S3oc oo Will lie disposed Of absolutely AID without
reserve 70 the highest BIDDER
Sealed proposals. fr any amount not less than 81 900 Will
- isceNea p me ONCE Of the undersigned until O'Clock
on the 10Th II July prOx.mO
Proposals q be addressed 70 WINSLOW LANiER 4
co 50 v alSt, NeW-York, endorsed PROPOSALS ToR
" MANcHEsTER RAILROAD BONDS"
PEItes whose bids accepted viii be required 70 pay
twenty PET cent the amount awarded 70 them upOr
beng nouted u the acceptance Of their bids and
mander equal amounts the irst DAYS OF September
OciobeT, November and December next but aay party will
oe II liberty to PSI full at IL desired Interest viii
commence from the day al payment
lesDyi0 WiSSLOW. LANIER & Co, 50 Wall-ss