New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-11-12
PROPOSALS FOR LOAN.
&GElWM N,!s ERNIN
CENT. MORTGAGE BONDS.

The Northern Indiana Rulroat Company arsr for sale
100000 Of then Per cent Mortgage, bonds With m
'eres, coupons annexed.
They suns Of g. 60 Zach rsrasle Asxuss Al. In
1881, With interest per ceat ssn annually u
fsorrsy and ist Of August. payable Al the Mechanism
Bank n this City where the PRINCIPAL also payable, aa
are secured by mortgage 70 Sheppard Knapp, ESQ Of
New. York, IN trust Cor the boAd-hsld.r,
They are Issued under tas Lexsstr, n In a.na
authorizing their snd the mersas, a. allow. n,
secure the sane The amount Of boads b. thu. ,ael
ander the mortgage Is limited One Mlcs Of dollar,
sl0OOO OF hich have been disposed III S ssoo are
now offered aor sale.
The mortgage covers the whole road u the Company "a
Indiana, AID Is the hrst and only hen thereon
THIS embraces The entire line hon connection At the
State line Michigan With the Michigan Southern read
(ofwhich eIiensionl through Elkhart. Ashawass.
South Bend and Lapore the boundary Of Illinois, sboss
100 miles: line to and from Mich g~n City Of about ~
niles connecting with the same. and line Of 10 miles om
Elkhar Goshen making all about I,5 miles Of road.
The Company hold also BY lease and contract ane rom
the western boundary OF Indiana - Chsosso. Of about
miles.
b. existing contract between :hIs Company and the
Michigan So hern Company CONTINUOUS lime Of railroads
formed Fl, the head Of Lake Ere Moaroe and rols
do IN yey direct through southern Michigan and
Northern indiana 10 Chcasoa distance from Monroe Of
2as miles aud from Toledo Of 2s3-Ail to be under al
perntendence and management. and Tor all practical
poses forming one JOnt interest
At Chicago this line OF Road with ne Chicago
and Rock Island Road" 10 M e,-aded the Asss~pp
River Rock Island, $50 miles long, and which 10 under
contract.
Also with the Chicago AMI Gslens RAILROAD. about a
miles of which abOat completed and IN the
tire bne OF which, expected viii be completed 10 the
Mississippi Rvor In ali nett
Also with the Illinois Central Railroad 70 run Ron
Caro-, at the mouth Of the Ohio River, to Chicago
At Toledo il whites with the great chain OF Railroads
along the shore of Lake Enc 10 Cleveland. Dmhs and
Buffalo This whole south shore line viii probably 10
completed the OF the SEASON. aad parts Of
Will be opened for use the present rear.
The whole line Of Roads Of his Company ander
tract the grading and bridging 90 niles completed
and the rails LAID miles Of IT, The iron has been pur-
chased for the whole Road from the boundary of Mich
gan Chicago and most Of 1t Is delivered the linz
ready for The Road finished 50 miles TO South Bend
which point the now ruanng from Moaros and
Toledo and the work Of laying down the rails active
progress upon residue Of the line The main line fon
the East TO Laporte some IS msb will be opened aext
month and the whole road from Lake Eric to Chicago.
March next when the journey from Lake Erie to Chicago,
may easily he made IN hours
Tn, means for the construction aud equipment OF the
Northern Indiana Road provided stock and bonds
Nearly one million Of dollars subscribed 20 the stock.
about sS5osO OF which is taken n New-York and the
Eastern States the remainder along the line u the Road
An average of per has been paid these subscrp-
tons and the residue being regularly paid at the eah Of
the Company.
For providing the remaining means required 70 complete
the work Company have ssaed their Mortgage Bonds
10 the amount of million Of dollars In ALL a. shove
stated proceeds of OF which wanted 90 pay fs
iron rails, machinery, sc.
The mortgage empowers the Trustee. m case Of failure
to pay ether intel principal take possession Of thu
Road with ito equipments and receive us earnings % to
sell the same, due notice. and apply the proceeds 10
payment.
That this Road will proYs one Of great usefuns" ana
profit will at be bs reference 70 map OF m s
and connections being essential link in the great chain
Of railways from the City Of New Ycrk 10 the Mississippi
River along the southern extremity Of tho two great
Lakes trayerslng as does one oil the most productive
agricultural regions in the United states whls ss oos pss
mile will be less than half the usual cost OF railroads Of
the same class IN Eastern States. As local road
alone giving an outlet the productive region avsTses
il confidently believed that Will pay large prohf apoa
its cost without reference ~ its connections.
The proof Of found the earnings Of the Michigan
eouhern Railroad for the past i've uoaths, which, until re
connections formed. to be regarded local read,
and of about equal length with the Northern Indiana
Road and country not more productive. via
For MAY 1851 ...-. s2,iz1lFor August, ls5i---- Ai3
For June, do....---- n,5l For September do. S.sn
For July, dO.-.------ 2o.t0sl
Total. sfn9ot
twill thus be seen that the security offered u of the
highest Oh aracter
Sealed proposals will be received for amoaat act lees
than $780, until the eth day Of November nett, s
O'Clock p III.
Proposals may be addressed TO WINsLOw, LAEfDR
co, No 81 Wall ST, OF 4. c. LIfCHEIELD, Treasurer
of the Company No "a Boavers ndorsed fss
Northern Indiana Railroad Bonds"
Twenty five per cent Of the purchase will 20
CURED to be paid Immediately upon acceptance Of the BIDS
aud the remainder equal payments the 25s Of Novem
Der and the 10th Of December next Any purchaser vii
be- liberty pay full ut once, end interest," the
bonds Will run from date # payment
Three hundred thousand dollars (one-haf the amount
BOW ofered) Will be disposed Of absolutely and -tboat
reserve TO the hi CHEST bidders.
The Company the right TO withdraw The remain
der, n the offers not satisfactory.
All necessary information IN relation 70 the ponds, to-
sether With maps may be obtained by calling winslow.
Llnier Co.. or L C. Lchfeld at sthsr Il which places
copies of the bonds snd mortgage may he had
GEORGE BLISS JOHN sTRYKER
EDWIN c. LITCHFIELp. CALVIN BURR
HUGH WHITE. Committee Of the Directory.
New York, Oct %. 1851. TIA
4 SSESSMENT.-The Board Of Direct
have ordered an ASsE sShENT OF FIFTEEN CENTS
SHARE each share a stock IN he WarFick Nine,
numbered from 10 % No eleven thousand, and rom
No eleven thousand humid ed aud 10 No eleven
thousand hundred and III inclusive, payable On ~
''''i' inc ''''' ''' u ''''''" WARREN cURRIER,
Secretary VI American hnisg Co
Windsor Vermont, Nov. T. 1851 nZ IL
NEW YORK. November !, 1881
nDNrEk RANK The President and