New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-10-30
Financial.
PROPOSALS FOR LOAN.
$500 000 MORT II F. R n n
0pNbNIOsOOOD DIANA RAILROAD PER

CENT. MORTGAGE BONDS
The Northern Indiana Railroad Company offer for sale
100000 Of their per cent mortgage, bonds with IN
terest coupons annexed.
They ure sums of 81 900 each PAYABLE August the LIST
1861 with interest at per cent semi annually on Ia OF
February and LIST Of August payable at the Mschancs
Bank this City. where the principal is also payable and
are secured BY mortgage Shepherd knapp, Esq, Of
New. York, in trust for the bond-holders.
They are issued under acts the Legislature of Indiana
authorizing their and the mortgage az above 10
sscsrs the same The of bonds be thus issued
under the mortgage limited to One Million Of dollar,
$500 600 of which been disposed Of and $500 900 are
now 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 at the
State line Of Michigan with the Michigan Southern road
tof which it extenson) through Ehhart, hshawaka'
eouth Bend aud Laports to the boundary OF Illinois, about
100 miles line TO and from Michigan City of about Is
miles connecting with the and line OF 10 miles from
Elkhart to Collaborating all about ls5 miles OF road
The Company hold also by lease and contract alne from
the western boundary Of Indiana 70 Chicago, OF about -
miles.
By an existing contract between this Company and the
Michigan Southern Company continuous line of railroads
formed from the head Of Lake Enc at Monroe and Toie
do in very direct through Southern Michigan and
Northern Indiana to Chcago-a distance ffem Monroe OF
246 miles, and from Toledo Of 23al to be under one su-
pentendence and management, and for all practical pr-
posss forming JOINT interest.
At Chicago thus line OF Road connects with the Chicago
ard Rock Island Road to be extended to the Mississippi
River at Rock Island 1876 miles long, and which is Under
contract.
Also with the Chicago and Galena Railroad about "a
miles of which about completed and IN use the en-
tire line of which, expected will be completed 10 'he
Mississippi River IN all next year
Also with the Illinois Central Railroad, to run nom
Caro- at the mouth of the ONO River, TO Chicago.
At Toledo it unites with the great chain OF Railroads
along Lake E,r,s to Cleveland Dunkrk and
Buffalo. This whole south shore line VIII probably be
completed the of the nett lad parts of it
Will be opened for use the present year.
The whole line Of Roads of this Company rs under con-
tract the grading and bridging so miles completed,
and the rails laid 50 miles of It, The iron has been pur-
chased for the whole Road from the boundary Of Mich
jgan to Chicago and most of 1t is delivered the line
ready for The Road finished 80 miles to South Bend.
to which point the running from Monroe and
Toledo and the work Of laying down the rails in active
progress upon the residue of the line The main line from
the East Laporte (ome Sc mes will he opened next
month and the whole road from Lake Erie to Chicago, IN
March next when the Journey from Lake Ere 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
Neary one million dollars subscribed To the stock
about $4,000 OF which taken 10 New-YoIk and the
Eastern States the remainder along the line OF the Road
Of so per cent has been paid these subscrp
tcps and the residue being regularly paid at the call Of
the Company.
For providing the remaining means required to complete
the work the Company have issued their Mortgage Bonds
70 the amount of one million of dollars IN all, above
satsd proceeds of most of which wanted to for
iron rails, machinery, &c
The mortgage empowers the Trustee. IN of failure
to pay either interest principal to take possession Of the
Road with ITS equipments and receive It's earnings or TO
sell the same ON due notice and apply the proceeds In
payment
That tins Road will prove Of great usefulness and
rro6t will at once be by reference TO map of It's line
and being essential Ink in the great cham
Of RAILWAYS from the City Of New York 70 the Mississippi
River along the southern extremity of the two great
Lakes trayer.iDg Is does Of the most productive
AGRICULTURAL regions tbs United States while its cost
mic M he less than one half the usual Of railroad, OF
III, same class M the Eastern States As local road
alone ryng All outlet the productive region It aversss
~. oo.sdent, believed thst viii pay large pro upon
Its cost without reference u It's connections
tn. rroof of tins Is found IN the earnings Of the Michigan
Southern Road ft the past five months which snsl It's
connexions are formed to be regarded local road.
and of about equal length With Northern Indiana
Road and trayerses country not productive,
For NAV ls5l.-.---- s2ilz7 For AUGUST 49, 2lss
For LIME do Psi For September Do. s3SH
Ter July do zO6 03i
wi Total 1854
yin thus be seen that the security offered Is Of the
highest cha racier.
Sealed proposals viii be received FOR amount not less
,ban e. COO mt, the 9Th dav Of November n@It, at
o'clock 2 NJ
Proposals may be addressed 20 WINsLOW, LANIERS
co No s. Wall st ~ L. c. LITCHFIELD, Treasurer
of the Company No "a Be@yerst indcrsed PROPOSALS TOT
Northern Indiana Railroad Bonds
Twenty-Five PER Of the purchase money VIII ee re-
Cured to be paid immediately upon acceptance OF he DDS
and the remainder equal menss the 18th OF Novem
her and the 10th Of December next Any purchaser VIII
he 81 liberty la7 full al once. aad interest upon 'Ae
bonds vii run from date of paymeat
Three hundred thousand dollars lone-hafthe amount
now offered vii be disposed Of absobuiey and without
reserve u The highest bidders.
The Company the. ish, 70 withdfa" ne remain
der II the oilers are not satisfactory.
All necessary information IN relation 10 the D'has %
gether with naIs zy be obtained by calling on "iH.iow
Laner Co or C. Li;chhed, at either II which places
eo1ies OF TIE bonds and mortgage may behsd
GEORGE BLISS. JOHN sTRYKER,
EDWIN c. LITCHFIELD. CALVIN BURR
HIGH WHITE Committee Of The DrectfJ'
N,.Ya-s o., 2a 1881 o2OD nj 2rW
MICHIGAN sou T II ( r y RAIL
w ROAD COMPANY The semi-aungal lnieresi
upon ihs Norrgsse Bonds If tss Company 4 payans on
lie 80 d4.oi Noyeser neat, aud VII be pdii On ae a
ttr ttat day present mon u ne Agl al Lse n "a
ics' Bans l.. {. LIlChflELD. treasurer
New-YssE c., 2: lasi. 80