New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-10-31
PROPOSALS FOR LOAN
&GN.WN) NOR MOTT I III ERN In In.

CENT. MORTGAGE BONDS
TIE Northern Indiana Railroad Company offer sr sale
100000 OF thelr per cent mortgage, bonds with
tsres, coupons annersd
They ure IN SUMS Of 900 each payable August the lst
,efl. with n'e-c- a. per cent; annually s. Of
February end lsr Of August psyabl. at the Mechanics
Bank IA 's Cy where the principal also payable, and
secured ny or-age W Shepherd Knapp, ESQ, Of
New York, in trust ET the bond-hohers
They are issued under acts of tue Legislature OF Indiana
authorizing hen issue and the as above, TO
tie same The bonds 70 be thus issued
unde tbe mortgage, hhaed to One Million Of dollars,
$500 Coo Of which have been Disposed Of an, $500 eco
nov offered for sale
The mortgage covers the whole road OF Company
Indiana, and Is the hrst and only lien
THIS embraces the entire line from connect at the
State line OF Michigan with the Michigan Southern road
(of which extension through ElkhaT H,shawasa
South Bend and Lapore boundary Of illinois about
zee miles line TO and from Michigan City Of about as
miles connecting with the same and line Of 10 miles from
Flkhart Goshenmakng all about l35 miles Of road
The Company hold also by lease and line from
the boundary Of Indiana 10 Chicago about %
miles.
b. existing contract this Company and
Michigan Southern Company Continuous line OF ralroais
Is formed from the head Of Lake Enc a. Monroe and roe
DO in very direct through Southern Michigan and
Northern Indiana to Chicago-a distance sr Monroe of
GAG miles, and from Toledo Of 2i3an be andsr
perinendence and agement and for all practical pu
poses forming one Joint interest
At Chicago this line Of Road connects with the Chicago
and Rock Island Road to be extended TO the Mississippi
River at Rock Island $50 miles long and which is under
contract
Also with the Chicago and Galena Railroad. about 81
miles Of which about completed and USE the
tire hne Of which it is expected will be completed to the
Mississippi River in all next year.
sha raj Da,lro 10 nm ,nnn
Caro- at the mouth Of the Ohio River Chicago.
At Toledo it unes with the great chain of Railroads
along the shore of Lake Ere TO Cleveland Dnkrk and
Buffalo This whole south shore line Sih probably he
completed IL Of the season, and parts Of it
will he opened for the present year.
The whole line of Roads Of this Company under
tract the grading and brds 60 mics completed,
and the laid so miles of it. The has been pur
chased for the whole Road from the boundary of Mich
igan 10 Chicago and Of it is delivered the line
ready for The Road finished 80 miles to South Bend
which point the are now running from Monroe and
Toledo and the work Of laying down the rails
progress upon the residue of the line The main line from
the East Laporte (some Sc niles will be opened ut
month. and the whole road from Lake Ere to Chicago
March when the from Lake Erie to Chicago.
may easily he rads IN hours
The for the construction and equipment Of the
Northern Indiana Road provided by stock and bonds
Nearly million Of dollars are subscribed 20 the stosk,
about $3.50 900 of which taken IN NevYork and the
Eastern States the remainder along the line Of the Road
average of per has been paid these snbscnp
tons 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
TO the of million Of dollars IN all as above
stated proceeds of most which wanted to pay for
iron rails. machinery, &c.
The mortgage empowers the Trustee, ease of failure
to pay either interest principal TO take Of the
Road with it's equipments and receive its earnings, or to
sell the same due notice and apply the proceeds IN
payment.
That this Road will prove one Of great usefulness and
prot will at be by reference to map OF Its line
and connections being essential link IN The great cham
of railways frem the City of New York to the Mississippi
River along the southern extremity of the two great
Lakes traversing does Of the most productive
agricultural the United States vhae its cost per
mile will be half the usual cost of railroads VI
the same class the Eastern States. As local road
alone giving an outlet TO productive region traverses
is confidently believed that will large profit upon
its without reference to its connexions
The proof this found In the earnings OF the MeAgaa
Southern Railroad for the past i've months which, until It's
formed Is to be regarded as local read
and is of about equal length with the Northern Indiana
Road and traverses a country productive. VIZ
10, NAV 1851 ..- s24 l27 For August, Is5i...- A96
Tor Juns do.--..---- 22,5II For September do 1921
For July, do------ WoV5l -.
Total slzo9Jf
II will thus be seen that the security offered of The
highest character
Sealed proposals viii be received for amount not less
tLan 81 Geo. until the 18th day Of November next at
o'clock p NJ.
PROPOSALS may be addressed to WINsLOW, LANIER
co No 81 Wall st, or f. c. LITCHFIELD, Treasurer
ofthe Company No "a Beaverst ndorsed Proposals for
Northern Indiana Railroad Bonds"
Twenty-Five per cent Of the purchase money will De re-
CURED to be paid immediately acceptance OF she bids
and the remainder equal payments the ash OF Novem-
Der and the 10th Of December next Any purchaser VIII
be At liberty to pay full at and interest upon the
bonds wilI run from date OF payment.
Three hundred thousand dollars ,one-haf the amount
offered vii disposed Of absolutely and without
reserve to the hgi est bid ers.
The Company reserve the night 70 withdraw the remain
Der, II the offers not satisfactory.
AL necessary information IN relation TO the bonds TO-
sehsr with maps may be obtained by calling Wnsow,
Ianier 4 Co ore C Ltchhed at either of which places
comics of the bonds and mortgage may be had
GEORGE BLISS. JOHN sTRfkER,
EDWIN C. LITCHEIELD, CALVIN BURR.
HUGH WHITE, Committee OF the DIRECTORY
New York Oct 20. 1851 ozOD nj u"
OFFICE OF THE NBw-YoRK GAS LIGHT CoxPAsY}