New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-10-24
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ScHO UnO NORTHERN IN

CENT MOHTGAGE BONDS.
Tie Northern Indiana Railroad Company offer for sale
100000 Of their per cent mortgage, bonds with m
terest coupons annexed.
They ue n of 81 900 each payable August the LIST
1861 with interest at per cent. semi annually on LIST VI
February and LIST Of August payable a. the Mechanics
Bank this City, where the principal also payable, and
are secured by mortgage TO Shepherd Knapp, ESD. N
New York. in trust for the bond holders.
They are under Of the Legi atuEe Of Indiana
authorizing Their issue and the mortgage above, to
secure the same The of bonds to be thus issued
under the mortgage. limited to One Mloa of dollars,
500 zoe Of which have been disposed Of and $500 600
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 ltScOnnection at the
State lire Of Michigan with the Michigan Southern road
(of which exension) hrOush Ekhar DllshawaAa,
South Bend and Lspoe, to the boundary Of Illinois about
100 miles: a line TO and from Michigan City Of about IS
miles, connecting with the and line OF 10 mules from
Elkhar TO Goshen-makBg all about i35 miles Of road
The Company hold also by lease and csntIct line from
the western boundary Of Indiana to Chicago of abou. 10
miles
by an existing contract between this Company and the
Michigan Southern Company continuous line of railroads
is formed the head OF Lake Erie at Monroe and Toe
do in very direct through Southern Michigan and
Northern Indiana Chcagoa distance frsm Monroe Of
2is miles and from Toledo Of 23al to be under one su-
poses forming one Joint interest.
At Chicago this line of Road connects with the Chicago
and Rock Island Road to be extended to the Mississippi
River Rock Island 1870 miles long, and which is under
contract.
Also with the Chicago and Gaisna Railroad about
miles ~hch about completed md IN use, tho en-
tire line OF which, expected will be completed to the
Mississippi River in all next year.
Also with the Illinois Central Railroad. TO run fom
Cairo. at the mouth Of the Ohio River. to Chicago.
Al Toledo it unes with the great chain of Railroads
along the shore Of Lake Erie to Cleveland Dunkrk and
Buffalo This whole south shore line viii probably be
completed the Of the neat season. and parts Of
will be opened for use the pressn, year.
The whole line OF Roads of this Company under con-
tract the grading and bridging so miles completed
and the rails laid so mules Of It, The iron has been pur
chased for the whole Road from the boundary of Mich
gsn CHICAGO and most Of 1t is delivered on the limo
ready for The Road finished 30 miles South Bend
TO which point the running from Monroe aud
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 s. miles, will be opened next
month and the whole road from Lake Erie to Chicago IN
March next when the journey from Lake Erie TO Chicago,
may easily he 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 u the stock,
abou, $3.50 coo which taken IN NewYoIk and the
Eastern States the remainder along the line Of the Road
An average so cent has been pad on these subscnp-
tons and the residue being regularly paid the call Of
the Company
For providing the remaining means required to complete
the work the Company have issued their Mortgage Bonds
TO the amount Of one million Of dollars all, above
stated proceeds of most OF which wanted to pay for
iron rails, machinery &c
Tho mortgage empowers the Trustee. case VI failure
to Day either principal 10 take possession Of the
Road with It's equipments and ITS earnings, or to
.uIa nplx he efa Fu
payment
That this Road will prove Of great usefulness and
proft will at once be seen BY reference map Of It's line
and connections being essential LINK in the great chain
of railways from the CITY Of New YORK 70 the Mississippi
River along the southern extremity Of the two grea!
Lakes traversng as II does Of the most productive
agricultural regions the United States while its cost pei
mile be ess half the usual cost Of railroads Of
the same class IN the Eastern States As local road
alone giving outlet to the productive region trayerses
it is confidently believed that viii pay large profit upon
its cost without reference 20 its connections.
The proof OF found the earnings VI the Michigan
southern Railroad fer past five months which, until it's
connections are formed Is be regarded local road
and Is of about equal length with the Northern Indiana
Road and a country not more productive. VIZ
Tor May 1851 S2i,iZ7 For August, ISL 2lS
For JnEe' d. S5soa " september u' e1-"
For IgJS oo'-----.- 'D'''' .slesoa
II will thus be that the security offered Is Of the
highest character
Sealed proposals will be received for amount not less
than 81 COO until the 18th day Of November next, at
o'clock r n
proposals NAV be addressed 10 WINSLOW, LANERA
Co. No 81 Wall ST, or +. c. LITCHFiELD, Treasurer
THE Company No "A Beavers 81 Endorsed Proposals Tor
Northern Indiana Railroad Bonds
Twenty-Five per cent Of the purchase money will be re-
CURED to be paid Immediately upon acceptance OF the bids
and the remainder equal payments the alta OF NOyem-
her and the 10th Of December next Any purchaser VIII
he at liberty to Pay in full at once, and interest upon the
bonds y III run from date Of payment
Three hundred thousand dollars oae-haf the amount
now offered VIII be disposed Of absolutely and without
reserve 10 TIE highest bidders.
The Compsny the right % withdraw the remain
der # tie offers not satisfactory
Al necessary information in relation 10 the bonds 20
ge'her viii maps MAJ obtained veaag on "nsi'"'
Laaler Co.. oTE C. Lchfeld. .. either Of which places
cories Old bonds and mortgage hay be had
GEORGE BLISS JOHN sTRYKER
EDWIN c. LITCHFIELD, CALVIN BUKh'
HUGH WHITE, Committee OF tns N'''
Ne'g-Iork, Oct 20, iSol-