New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1852-06-23
GALE of EIGHT PER CENT. FIRST

- MORTGAGE RAILROAD BoNDs-The PEORIA
and OQUAWkA RAILROAD CO Of Illinois offer Tor sale,
through S. DRAPER, their EIGHT PER CENT, FIRST
MORTGAGE BONDS for 100000, reimbsssbe In
NewYok in 1862 They part OF an issue OF 700 au
orstbe balance of which ue will not be put in this mark
ct ths They are secured By inst and only mos1
on then whole Road snc aer ana Spdsy The ns
coupors payable ni-ennualy at the American Tx
change Bank. in New-York.
hngon the Emporium of Iowa and extends esstsrly 20
miles the richest prairie lands Of the Western states
crossing the great Illinois cosed at about It's oroadest pan
and generally on level with its most valuable stratum OF
coal through the houshng commercial town OF feons 90
the Illinois River Soon after leaving the Mississippi ans
of Bran ch FIVE miles NORTH TO Oqusvks. NeH tses
burg IL connect with the Military Tract Railroad which
with its extension the Aurora Branch Road, viii open INTO
tant and nearly straight line from burngon, G6 miles 10
Lake Michigan About Is miles east from Peoria 1t crosses
Gaena ard Dubuque Burlington arc the district south
and wesa line that must be largely used during the winter
months while the Mssssppi IL frozen IL cIun sets at Its
utern proposed termination with the Ohio and Indiana
Railroads at and near Lafayette, Indiana
Peoria is destined to be most important point for West
EN- Railroads. cursory view OF the map will show how
desirable for the alton Of vast district of country
will be the contemplated Railway from Peoria east TO Losans
vile and Toledo ard Lafaystethere connecting with
the Indian pos and Beleontane Roads and completing
direct line Of Railroads vm the Atlantic TO Burlington
probably the shortest and best that be made from New
The PEORIA and ooUAwKA RAILROAD will be one
OF the cheapest ever built More than thirty miles ofis
feet to mile and the marnum grade aong the whole
hDe is only twenty-five feet.
The material and location of such favorable character
that responsible contractors have undertaken to complete
most ofhe Road for sum not exceeding $4,000 per mile
they The section Of fifty miles from Burlington 70
Knoxville nearly ready for the rails 1t estimated that
$4,000 per mile will finish and fully equip the whole Road
and thu expense Of working it viii be materially reduced
by the chesppess Of fuel along the ne the coal being adj
miraby adapted for cokng and use IN locomotives The
Road will Burlington, connect with the Railroad pro
posed to be made thence 70 the mouth Of the Plata
TO aid which grants Of land by Congress under
nderatioD of that body; thus extending the New-Ys
Ohio and Indians Roads via Fora Wayne nearly west
via Peoria and Burlington to the Missouri River
The individual subscriptions and subscriptions the
various towns 100000 and all considered
and likely to be increased The proceeds OF the
Bonds offered 10 be applied paying for the iron
for the western section Of tbs Road, which must nme
da'ey opening, be crowded with profitable business
from the ch agricultural and mineral products of the
country and from the vast through merchandise aud pa&
senger traffic which cow through roundabout channels
reaches Burlington and from that point circulated through
Iowa by Steamers and wedeyeloped system Of PLANK
Roads -
These Bonds will be sod at Auction on WEDNESDAY
noon, the sd June, at the Merchants Exchange