The Sumter banner. [volume] (Sumterville, S.C.) 1846-1855, 1851-07-09
S5oO,oOO SEVEN PER CENT. MORTGAGE
BONDS.


c[R Sealed proposals will he received by
the subscribers, until THURSDAY, the 10Th
day of July next, for three hundred thousand
dollars of the first and only Mortgage Bonds Of
the Wilmington aud Manchester Railroad Com
pany, bearing interest ut the rntc of seven per
cent. per annup, principal and interest redeem
able in the city Of New York--,hc principal Oh
the lst juno, 1866.
The Bonds are in sums Of S 900 each, with
coupons payable ut the Merchants Bank New
York. on the lst December and lu June in
cnch year, convertible into the capital stock Of
the Company, NJ the option Of the holders.
They are Issued under acts of the Legislatures
OF North and South Carnlina, secured by II
Mortgage or Decd of Trust. to Edward Sand.
ford, Esq, of New York, in trust for the hold.
crs of the Bonds.
The Deed Of Trust covers the entire line of
ihc Road completed and to be completed from
Wilmington. in \. c., to Manchester, in s. c.,
distance o! l62 miles. costing, when compile
ted Will, a heavy Il raj. and equipped, $1,000
o'o The extraordinary ahap;cdncss Of the
country 10 the construction of Il railway nc.
counts for this low cost
The Trustee liz empowered. in case of co
days d"tan!, in pnymcn, Of pri,.cipal or inter.
est. to take possess ion of The entire line Of Road
will It's equipments, stations, income, franchise,
&c., the same Ia sell II, his discretion To the
highest bidder for cash, 10 pay arrears Of pgn.
cipa! or interest.
The whole amount Of bonds authorized to he
IL
called for that pirE'nse in pril last and MI or.
der oft'e Kali Road. is 500. 900 To raise means
10 pay the residue of the iron rails and cuuip.
men'S;, only 100000 OF which are now offered
for sale.
The Company will owe no other debt when
the read is completed.
This road will prove An important link in the
great chain of railroad from Boston, New York
and Philadelphia 10 New Orleans, connecting
ut Wilmington with the Raleigh and Whining.
navy Enr Al 81
Manchester with the great South Carolina
Railroad leading from Charleston in the drcc.
tion of Montgomery, Alabama, now In the RI.
ccipl Of near million OF dollars annually from
lis hisinrss will avoid the present ,,i~ag grrrnbie
sea voyage from Wilmington To Charleston,
shorten the travc! 10 New Orleans one DAYS
time. facilitate the mails, and viii bring the
South III more Immediate and direct commune
CniiUn with the North
The position oi This Road. its conncc lions
North nni south. is easy grn,ics. (nonc over
thirty feet Ia The milc,i freedom from curves,
an! cheap construction. ~ such rs To pa, il be-
l"n! Tie cunp.iitrnu u. any oiltrr line OF road, f,
for l!lc immense inland travel between The
North and New Orleans.
The greater part OF this Road travcrsrs the
most popi"ms and fertile portions ol South Car.
"ii'ia, producing cotton, corn, &c., in great
abundance. Its local business alone will sup
por, IL In Som.ly
The ccnsns of lSjO shows ,ha; the District of
country which will tic trihuL.ry to this Road.
aud dependent OF il for transportation To tho
market, produced in lSi, seventy thousand
bales %! cotton, "i an average weight each ul
i5D lbs.
The Company has one million of available
sioCk subscribed, mos! OF which has been pail
III and applied tn construction. 10 which can b..
added n any time. al The option "f The Compn-
ny. S2OO,o0O, subscribed hy the State Of Norll,
Carolina, on certain coniiIu,.S.
Ii Is csiiun,cti tint Ihc net .,Inua! profits will
tsrr ,', IE.T
Ah"nt one halt ui the entire line has been
graded and hrld%ci, the CroSs.ics being in the
course ri delivery, and viii bc ready Tor the
iron rails immediately.
The entire line is under contract for grading
md bridging and i'll 4 forward slate towards
completion.
Six thousand two hundred tons iron rails, II
pattern, have been purchased and in course
OF delivery
About >7oooOo has already been expended in
construction, mcuding payment Tor the rails
purchased.
II is expected That nhou, 80 miles from Man.
chester Last y Ill he completed and in opr ration
~ The Fall this year, AMI The entire line To
W IlmaelOn carly nrN year.
The management of this Road Is in highly
respectable anI competent hands. No work
IN The south undertaken projected meets
with mrrr public favor than this.
For further nIrl more particular information
We refer 20 printed ''ENhbi, . giving full
contain, Map OF the line with lis many con
ncrtIOns, copies OF tie Bond and Mortgage,
opimlDn al counsel. Ne. prepared hy cen. W.
w. llarlct i'rrsidcn; of the Company, which
may he obtained on application at the office Of
the Company ~ Wilmington, y. G.. or Of
The undersigned, by mail or otherwise, with
any other Information desired.
We deem the security Il desirable one Tie
states OF North and South tarulInt and the
NariumS corporations chartered within their linn
ITS, Which have been borrowers al money, have
uniformly and under The mos, adverse circum.
stances promptly met IhG!r pcCuniary engage
lnrnis.-Puhitc sentiment in those States has
always taken high ground IN regard 10 I,l,ncinui
iuIlilmchi public an" private pccunlary obi
cations.
The $3Oo,OON will bc disposed OF absolutely
and without reserve TO The highest bidders.
Sealed proposals., for any amount no, less
than $1,000, Will hc received at the office of the
| Undersigned until O'clock on lO,h Of Iuly
prONimO.
Proposals to hc addressed To WINSIOW
LhNliIR. 500. % Wall street. New York
endorsed "PEoFoSkl.S FOR w ~ MAScnEs.
TER RAILROAD Bo%pS.'
Parties whose bids are accepted Will hc re-.
qnIrcd Ia pay twenty per cent upon The amount
awarded To hem upon beng notified of The ne.
ccpinncc at their bids. ana the remainder in
equal amounts on The iirst days of September.
October, November and December next, but
any party Will hc nj liberty 10 pay III full II,
once If desired Interest will commence from,
the day oi payment
WlNSLOW I.ANlER d CO., 81 Wall st.
June 18th, 1851. 81 1T