New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-10-21
Co-Uartnersbip.
GnanriaI.
$6OO.O UU DIANA m N A R + II r "A J PER

S6OO.UUU DIANA d = A RA II Re "A J PER
CENT MORTGAGE BONDS.
The Northern Indiana Railroad Company offer for sale
5000 600 Of their per cent mortgage bonds with IN
terest coupons annexed
They Of 81 600 each payable August the ISL
1861 with Exest at per cent. semi annually on ISL OF
February and LIST Of August, payable at the Mechamcs
Bank this City, where the principal rs also payable ana
are secured by mortgage to Shepherd knapp Esq., Oh
New. York in trust for the bond-holders
They are issued under Of the Legislature of Indiana,
authorizing their issue and the mortgage as above to
secure the same The amount Of bonds 20 be thus issued
under the mortgage, rs limited to One Million OF dollars
$500 Of which have been disposed Of and s6OOooO are
offered for sale
The mortgage covers the whole road of the Company IN
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
of which il is an eIensonl through Elkhart, Mshawaka
South Bend and Lapore to the boundary a Illinois about
100 miles line and from Michigan City OF about %
miles connecting with the same and line Of 10 mules from
Flkhart 10 Collaborating all about 1876 miles Of road
The Company hold also by lease and contract aline from
the western boundary Of Indiana to Chicago of about /,
miles
By an existing contract between tins Company and the
Michigan Southern Company, continuous line ofraikoads
is formed from head Of Lake Erie at Monroe and Toe-
do in very through Southern Michigan and
246 miles and Toledo Of 243-a to be under one su-
pentendence and and for all practical pur-
poses forming one jeint interest
At Chicago this line Of Road connects with the Chicago
and Rock Island Road" to be extended to the Mississippi
Ryr at Rock Island $50 miles long, and which under
contract.
Also. with the Chicago and Galena Railroad. about "a
miles Of which about completed and use the en-
tire line of which. expected, will be completed to the
Nssissipui River in all next year.
Also with the Illinois Central Railroad, to run from
Caro-, at the mouth Of the Ohio River TO Chicago.
At Toledo it unes with the great cham of Railroads
along the shore Of Lake Enc to Cleveland. Dunk and
Buffalo This whole south shore line Will probably be
completed IN the Of The next season. anc parts OF II
Will be opened for the present year
The whole line Of Roads Of tins Company under con-
tract the grading and bridging 60 miles completed,
and the rails laid 50 miles Of At The iron has been pur-
chased for vhoe Road from the boundary OF Mich
gan Chicago, and most Of is delivered on the line
ready for The Road finished 80 miles to South Bend
to which point the now running from Monroe and
Toledo and the work laying down the rails in active
progress upon the residue Il the line The main line from
the East to Lapone (some Sc miles, will be opened next
month and the whole road Lake Erie to Chicago IN
March next, when the journey from Lake Enc 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 million of dollars subscribed to The stock,
about $1,000 Of which taken IN Nsw-York and the
Eastern States the remainder along the line II the Road
An Of 50 per cent has been pad on these 'unc
ts and the residue is being regularly paid at the call OF
the Company
For providing the remaining means required 10 conpiee
the the Company have issued their Mortgage Bonds
TO the amount Of million Of dollars in all as above
stated proceeds OF most OF which are wanted to pay Tor
iron rails machinery. &C.
~ Trust in u
10 paw either principal to take possession OF the
Road with lis equipments and its earnings OF 10
sell the same Oh due notice and apply the proceeds IN
payment.
That this Road will prove one Of great usefuness and
profit will at once by reference 10 map of It's line
and comedians being essential INK IN the great chan
of RAILWAYS from the Cry Of NewYok 60 the Mississippi
River along the southern extremity OF the two grea.
Lakes traversing does OF the most productive
agricultural egons the United States while s cost per
mile VIII he less than half the usual cost u railroads OF
the same class IN the Eastern States As local road
alone giving outlet to the productive region raverses
ii, conhdentl, believed that will pay large profit upon
its cos, without reference 10 ats connections.
The proof this found the earnings OF the Michigan
eouthern Railroad fox the past I'VE months which, until its
connections are formed Is be regarded local road
and Is of about equal length with the Northern Indiana
Road and traverses csunry not more productive, VIZ
For May. lS5l.-..-.. s2it27 For August, iS5l- AlS
For June de- 22-5ll For September do. Sj,ZH
For July, do..------- NeVSl - az,
SlSosos
II Wi, thus be the security offered IS Of the
highest character
Sealed Will be received for amount not less
than sloto until the 18th day Of November next, al
O'Clock T Nj.
Proposals may he addressed to WINSLOW. LANER
co Nc 50 Wall 81. "a Z. c. LITCHFiELD, Treasurer
ofhe Company No "A Besver-'t ineOssed Proposals. o'
N,thern Indiana Railroad b nts'
Twenty-Five per Il the purchase money vii be re
n,red 10 he paid immediately acceptance OF the oos
and the remainder equal payments on the 2oh OF NoVe-
her ard the 10th Of December next Any purchaser WILL
hs At liberty 90 pay full at and interest upon 'he
bonds viii run from date OF payment
Three hundred thousand dollars tonehaf'ne amount
ioasred Will be disposed Of Absolutely and without
reserve. to the highest bidders
The COMPANY reserve the night 10 wIihd'a" the fsA
der If the offers are no; satisfactory.
All necessary information IN relation 70 the ooh0s, -
r,,her with maps may he obtained by calling on
I,n,.r Co. or E C. Lohfsld. al either Of when P'A''
comics Of the bonds and mortgage may be nae.
~ropcrrruss JOHN STRYKER-
EbWIS c. LiTCHFIELD, CALVIN Btkk: ,.c,o,,
HUGH WHITE, Sen4n4''se "a '' ~
New-lork, Oct. 60 ls5l. -
n.