New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-12-05
financial.
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BrIARAILROkD SEVEN PER CENT MORTGAGE
poNDsSealed Proposals Will be received at the fsoe Of
the Company's AgoutS. 5Ies>rs. WINSLOW. LANltS
co Nc 81 Wall-st New York. uRtl TUESDAY. the
10th day of Decsu Der at clock NJ Tor the par
chase Of Compsnys Bonds amount aes eScee1as
$4,000
The Bonds are in sums $1,000 each payable hs LIST OF
February 1857 with per cent, semi annually,
q the Gays Of February and August IN the City Of
New-YOrk where the prnc a also pay able, and
are secured BY first and only mortgage deed OF trust to
George Gee. ESQ Of New YORK. trust for the bond
holders.
The bonds are issued by authority Of OF the LsgiA
OF Ohio giving special power TO make the bonds and
to secure them by mortgage the Road. Its franchises
and EQUIPMENTS and to sell the same, If need be- below
par waking such sale valid as If sold At par.
The mortgage covers Of 500 o Of which $780,
900 have been sold the remaining S60coe (ercepng the
S2Co oered will not be offered for sale Unta the
spring and summer OF next year.
This debt made pay for the rails ami equip
ments.
The mortgage covers the entire line OF road from C.svo-
land the Pennsylvania State line, IN the direction
of Ere distance seventy miles, known the Lake
Shore Road thirty miles OF which, nom Cleveland to
gainesville is completed and operation. The resi-
due Of the Road to the Pennsylvania Stats line will be
completed by the LIST July. 1882
This company now has the control of the railroad
constructing from the Ohio and State Line
Enc distance OF twenty five and half miles. making Is
in fact of the road. under manage
meat This part the line Will be completed about the
list July 1852.
The residue of the Lake Shore Roai lying between Erie
and Dunkrk and Buffalo will be completed By the 18th Of
December next, thus giving continuous line Of railway
from the City Of NewYokto Cincinnati by the LIST Of July
next.
The estimated cost of the Cleveland Panevs and Ash
cliitn x1as-
Gent for the entire line to Erie, 81 lss Near 100000
of Stock has already subscribed and $500 900 has
been expended the road The subscription list daily
being increased To provide the remaining to
plste the road this loan is resored 20.
The mortgage empowers the trustee in OF failure to
pay either principal TO take possession Of the
road and sell the highest bidder its franchises and
equpments due notice and apply the proceeds in pay
ment.
That this road Will prove Of great usefulness and
profit will be by reference TO map Of its line
and connections being Important link the great cham
Of Railways from the City Of NewYork to Cincinnati and
the Southwest and also Chicago and Gaena IN the north
west; connecting the east with the NewYork and Erie,
and Buffalo and Albany roads.
railway also about to be constructed from Enc, by
way ofSunbury, to Philadelphia
The amount Of business done by roads connecting with
it cas- aad generally known that further men,
ton reed not be made OF 1t here.
Proposals may be addressed to Winslow, Lahler Co,
No. 50 Wall-st., Endorsed Proposals for Cleveland
Painesyile aud Ashtabula Railroad Bonds"
The sale will be absolute and without reserve Is per
cent will be required TO be paid when bids accepted,
the residue in monthly payments Of as per cent. each
Accrued the bonds must be paid BY the pur
chaser No bill for less than 200 will be received.
All necessary information il relation to the road OF the
bonds together with map the road and its connections
may be had application to Messrs. WINSLow.
the Irving House, in this city.
By order of the Board Of Directors,
ALFRED KELLY, President.
New York, Nov. u.s. 1851. ns6 tDl6