New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1852-12-02
DEREMPTORY SALE of RAILROAD

4 BONDS THE BUFFALO. CORNING and NEW.
YORK RAILROAD COMPANY viii sell by Auction
through SIMEON DRAPER, On WEDNESDAY, Dec. Is
III o'clock he Merchants Exchange $50 go OF their
hIst Mortgage Bonds These Bonds Tor 90 EACH aud
nature lst Apn 1851 They bear coupons for interest the
rate OF y Ont per annuIn due the LIST April and LIST
October tie Bank Of Commerce ia this city They are
secured by The st and only Mortgage their whole road
and franchises, made TO john A Stevens, James 5. L.
Srsnahan, and John A c. Gray, Trustees and con-
gerbe the option Of the holder into the Capital Stock
OF the company, any ilae before 1871 The Mortgage
provide for issue IN al Of 100000 Of Bonds spec
hee o ~ Consecutive portions Of the road thrown
o.tn 10 pub &C tEiffc. $4,000 we're sold last May;
$1,000 arc now % be Disposed Of and the balance !,
not . b. offered tn next Summer after the other portions
ui Pho W0rA completed
The rosi lie now hished and running 10 Conesrus d.
lance OF u miles ana graded tor nearly u miles further
Batavia The IRON purchased ard paid for Tor ts whole
distance When, IN Nay asf 10000 Of tue Bonds Of this
Company were offered Il auct0n the eastern section OF the
load had only ust been put IA operation and all estimate
OF lis earnings were merely con ectuTa. The have
nov Oteh running SINCE May on an average about y miles,
and tue net earnings equal 70 fully 10 - tls
entire cost OF the whole 81 mile section completed As
yetoLy tue way trac has contributed % tue receipts
winch baye ben constantly increasing. and the Directors
anticipate, with wegrOunded confidence, continued
Augmentation from the channels OF traffic they are
opening II believed that the receipts now exec
those OF any other OF uninsh railroad In ts
state OF similar length, and 50 short time IN operation
The whole work is under contract Buffalo where To-
caroD secured or Depot 5uidin and tie Directors eel
enTe confidence n saying that the ~1 run over 'he
Coming b Buffalo 1874 miles Its grading. masonry aud
bridging Of the besJ characters tine Depot buildings are
neat aud subsnta snd the entire work will compare Ia
yorably with any other the county IL ras are OF the
heavy pattern and are ad tue brOd gauge, l)rniDg
the connecting ink between the Enc Railroad Corning
and the Great Lskes at Buffalo The Buffalo and Bmnt-
ford Road Of the broad gauge, snd Will continue
this channel q RAILROAD couCn;cat on to Detroit and the
ksr West The dsEic. 0. country througi which the But
fa.o Corning and NewfoTt Rood runs Is the most pro-
dutye the estern part Of ts State, and affords local
tre sufficient 70 snian and pey rood dividends On the
road ard the Directors with confidence
far share Of the through travel Ia addition Tie ch2rec
Of tie Bonds Offered such that the Direct can
say with sincerity that they equal any Railroad
IN the the net earnDgs or that part Of
the road running being Sufficient make certain the
payment Of principal End interest the whole amount Of
Bonds the Company sutho.zed TO iss1e, thus placing
their safety beyond WESTON Tie convertible clause adds
greatly to Their real value a Investment