New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-06-16
WILMINGTON and MANCHESTER

Ma LINING ION ana hANChf'ol En
w RAILROAD 5000 seven per cent MORT
GAGE BOkDS.-Sealcd proposals Will be received BY the
subscribers until TIT RSDAl the 10Th day Of July neTt
for three hundred thousand dollars OF ne hrSi ana Shy
Mortgage Bonds ot the Wilmington and hancheSer kai
road Company. bearing interest Al the rate Il seven pet
cent per snnum punepa and interest redeena'e IA NE
CIV ii New York the principal ON the LIST June, 1854
The Bonds Of y 00eech, with coupons pa's-
bic at the Merchants Bank Ne"-forko on me Deem,
her and list June each year, convertible INTO the capital
stock Of the Company NJ the option Of me holders
They issued under acts OF tho legslalu"s - h9hs
and south Carolina secured by MORTGAGE or Deed o.
Trust TO Edward S4ndford Esq, II Now-iofk, IA ussi
for the holders Of the Bonds. n,
eompeted and 20 he peted from Wilmington, IN N C.
10 Manchester IN : c. distance Of l62 miles, costing
when completed with heavy rail and equipped oVVoS
The extraordinary adapcdness OF the country 10 the con
structon Of railway accounts for this low cost -, =
The Trustee empowered m case OF bO days oelanh
payment of principal ~ interest, Ia take possession OF NC
entire hne of Road with its equipments stations moons
franchise, SC. the same 20 sell at ms discretion 70 .ns
highest bidder for cash pay arrears OF prh'p''
tsTest . =. A. ....., g.,
in April last and an order the Railroad Board, S6oOS
10 raise means 70 pay the residue Of the IRON rails ana op
ments only $500 600 Of which offered Tor sale
The Company will owe no other debt when tho ROAD
THIS road will prove important ink the great ehas
Of railroads from Boston, New York aud Philadelphia %
New Orleans, connecting at Wilmington with the Raleiss
and Wilmington Railway, now IN successful operation At
Manchester With the South Carolina Railroad loading
from Charleston IN the direction Of Montgomery Alabama
the % Ofncar million OF dollars annually from
business Will avoid the present disagccabe
Orleans days tine. facilitate the mails, and VIII bring
the South more Immediate and direct communication with
the North
The position Of this ad It's connections North and South
easy grades none thirty feet 20 the mic freedom
from curves aud cheap construction Is such A. 70 put be-
yond the competition any 9th Inc Of road Tor the
mense inland travel between ths North and New Orean,
The part Of this Road the most pOpgous
and fertile portions Of south Carolina producing cotton
SC IA great abundance It's local business alone Will
support II Handsomely
The census Of 1850 shows that she district II country
which viii be tributary TO this Road and dependent on
for transportation 10 market produced m 1919 seventy hoa
sand bales OF cotton, Of an average weight each Of ie bs
The Company has one million IT available stock suhscno-
ed OF which has been paid and applied 70 conTrue
ton, to which can be added Al any ne al the option u s
Company, $500 CO., subscribed ~ the State II North Caro-
linn certain conditions
Its estimated that the net annual pOhts VIII reach
About ene-hsif ii the entire line has been graded and
budRed The crOss-tes being the course Of delivery ana
viii be ready for the d. rails immediately.
The entire line under contract f1r grading aud bridging
snd m Il forward state toward completion
SIX thOr sand two hndred tuus rails, pattern, na's
been purchased aud az in the course fdehyep. -.
About 100000 has already been pended IA consas'A
including payment for tho rails purchased
IT'S expected that about so miles from Manchester East
vi" be completed and m operation IN the fai u ms veal
and the entire Inc 10 ilmingtOn early next yenr
The management of tins Roads IN highly respectable ana
competent hands No work the South undertaken "
projected meets with more public favor than this.
For further snd more particular Information We Ieie,pt
printed Exhibit" giving full details If the Road and ts AZ
fairs which contains Map II the line with IT, many con
necons copies Of the Bond and Horgago opinion o COZ
sell &c prepared ~ Gen. W W. Haree Proshent OF ne
Company, which may DO obtained application Al the o.
fee Of the Company at Wilmington, n c. or Of The unas
signed by mail other se with any other Information DO
sired
We deem the security a desirable The states Of
North and South Carolna and tho various corD0raohs
chartered within their limits which ave been borrowers
money have uniformly and under the most adverse ccin
stances prongty met thrr pecuniay eDgagemens Puhs
sentiment IN those States has always taken high ground
regard 10 punctua inent II bc and private pecnhaV
obligations. .
The s3COCC0 will be- disposed II absolutely snd withos
reserve a. the b. CHEST bidder. - NJ
Seslsd pfoposals r Any not less than 900, viii
he received the Office of the undersigned until "eoss
PTooosals 10 he shdrc,sed 10 WINSLOW, LANfER
co 50 Wall-st HswY York. endorsed " PROPOSALS FOA
" MANCHESTER RAILROAD BorDs
Parties whose BIDS accepted Will BE- required 70 pay
enty per upon the amount awarded 70 them uon
beng notified u the acceptance Of their BIDS AMI me ~
mander IN equal the hrs days Of Sepiehp~l
October November and December next but any panl VII
liberty pay full Al once II desired Interest WIZ
comm ence from the day II payment
Je9 tJyl0 WINSLOW. LANIER & co. 81 WalH