The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-02-27

dianspslis Rsirosd Comp which wiz BE- sold ct
auction to. day-Thursdsy-st the Merchants kx.
change cannot but attract capitalists who wish to make
safe and PROD abs investments. The Lafayette and
indian polls Railroad win, whom completed b sixty
two nilss long and the position Of the eastern and
western terminus IL such Is TO form mos favorable
connections With railroads extending to the Atlantic
sh Gro, and those extending Chicago onLaks MisAi
gan and st. Louis on the Mississippi. company
has already been formed for building road nom La
fayette to Chicago, and the Northern railroad
from Lafay to Springfield Ilnsis, win form cen
neoten with St. Louis. glance ct any good map o.
Ohio. Indiana and Illinois, shows that the Lafayette
and Indianapolis road forms the most important link
in the great chain Of roads connecting the East with
the West. This road lie In very for Yard condition
This Western division, from Lafayette to Lebanon
thirty three miles, has been graded. The Eastern
divison, rom Lebanon to Indianapolis, twenty six
and halt miles, Is progressing rapidly, and the
whole line will be ready for the ra by uy and the
road fully completed to have the advantage Of
the fall trade The company entirely free from debt
Of every and have carefully avoided swell
ing their stock cubs crptions BY irresponsible
The city Of Lafayette has obtained permission
to subscribe 500 600 to the capital stock The
company will complete its work without creating
Q floating debt, and with only q small funded
debt the whole proceeds of which will have been sp
piled to the purchase OF iron Tho funded debt 10
limited to the sum Of $4,000 The bondsars re-
deemable in this city In ten years and bear seven per
cent interest psyabls semi uslly at the Bank OF
America in New York convertible at the will of the
holder at any time within ave years alter the date
the bonds into the capital stock Of the company .
par with undousted and approved personal guaranty
accompanying the bonds for the prompt payment o,
the interest until the road Is completed properly and
reasonably equipped for 4 eommencem Of business
put in good runn ng order and actually operated with
cars and Locomotives from one end thereof to the
otherto be secured by mortgage or trust deed on the
road it's equipments Income, SC, including the iron
in transitu, in the usual form
The Lafay cite and indianapolis Railroad will com.
msnd very large local travel In this respect it Is
most svoraby situated In every foot OF its progress
it travsss the very best Fart OF Indiana, yield
ing large SURF its northern extremity rests at
the head OF steamboat on the Wabash river
and at the best markets the Wabash aud Eric
canal No less than five roads built or building into
Indianapolis, frsm the south aud east, will sock a
northwestern outlet over the Lsfsyet and India.
papoi. road and all the roads from the west smiux
for the Upper wabash River, from Springfield Illinois
to South Bend, In diana make q focus at Lafayette.
Valuable depot grounds to tie amount of 81. acres,
have been obtained and paid tor at Lafayette in the
heSrt OF BURNERS sRd fronting 600 feet the canal
at Indian polls have been donated for
pro duce eIot AID Eve acres for repairing yards &C.
BOTH conyenieDtly situated These, when the ro,d
is completed will be worth not less than $40 600 Suit
able grounds fer stations have also been obtained at
the ibtermt date villages
The following comparative statement Of the business
OF Western roads in operation, will furnish 1t is
presumed the SAT standard fer the pros
pective business of the L. and l. r. r. -
GROSS EARNINGS
Michigan Central r. 16iS 1S49. 1850.
length. ........... seOo.sss 90 $500 coo 90
Michigan Southern
X tunfnishedj
month. S102 1899
Little Miami X r.
ia miles in
length. szsoOs5I IS b32l I3sS 81 $io5 o9 "a
Madison and Indi-
anopolis X X.
(complet.d 0c-
tober, ls4T. SO
miles In length sl2 IS s2is1s9 80 $500 si3 40
Rating the earn rgs per mile of ths Lafayette and
Indiana polls read (62 Sc miles With those of the Nj
chgsn Central for 1860 they ~ould be. $4,000
" ith the little Miami ............,......50 500 00O
With the Madison and Indiana polls ...... 2is ooo
Or With the mtsne Of the three ...........2S733 3
1t estimated that the gross earning, Of the Lsa3-
cite and Indisrap pole Railroad will compare with the
Msdison and In diRnspols read ~htn frst compl.tsd
whish wouls give gross income Of. ..... S26oo0
Deeuct tor expense 80 Der cent. .....,... 10000
Lesves net earnings. ............ Slos Geo
equal TO twelve per cent its chartered capital Of
10000. The above table shows that the annual in.
cfesse the Western reads, since th cir lines
fnth.d, is steady, and more than fifteen per cent.
II h impression that the bonds Issued by most Of
Western railroad companies will converted into
stock long before they arrive at maturity. The net
esrungs likely 10 be 40 great nd the dividends
likely 20 be much larger than the rate Of interest
paid on th. bonds. that In nine cases out Of every
ten, conysrsions vilI be made The charters of the
Western reads are Of the meet liberal character
Dividend. unrestricted and II the net earnings OF
the roads In the exciting state OF the country With
all population, and resources but moderately de
veoped large enough to pay Elk eight and per
cent per anpum on the stock, what expect
when the country becomes dens-ly populated and
highly cultivated, II is opinion that the bonds o.
thess Western road. the best In vetents OF the
day and reeomm.n nd capitalists 10 lose the op.
portunty presented to day, TO purchase those about
being isued by the Lafsy cite and Indispapol, Rail
road Company.
The ANNEXED statement exhibits the aggregate move.
m,nt OF the banks OF this stat according to returns
made 70 ID. Comptroller the 2lst Of December
1850 compared with that Of September 20 1867
p.sKs rHE srArg Nsw YoEx.
sEsorRcEs
Sept 2s De- 81.
Loans and discounts except to
directors aud brokers SIS SOCIAL 800 07s spS
Loans and discounts to cirec
All other liabilities, .bs,iut.
OF coniiI gent. to dire 1tors 6hs 300 T72 SiS
a II sun. due from brokers'. 1875 sol 38ys ISL
Real estate. ................ 331l $50 3 80 2le
Bonds and mortgages........ $40 tCs 85a 10
Promi.ory note, other than
30 - a