New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1852-12-15
Proposals for Loan.
$11S ono CONVICTION and Len dax

vERTlBLE BONDS, guaranteed by the City of Covins.
The Covington and Lexington Railroad Company offer
for sale SOoO Of their per cent Convertible Bonds with
Coupons principal and interest guaranteed by the City OF
They are in sums Of 81 OCO EACH payable the LIST Septem
ber 1872 with Coupons payable halyeary in New-fors
Let March and lst September, where the principal sum
also payable They convertible into the capital stock
of the Company at the option OF the holder at any time be-
These Bonds are issued under the fullest legal sancton
they have the additional security OF the guarantee OF the
City of Coyngton authorized by special act OF tne Legs
ordinance OF the City Council Tue authority TO make
the guarantee extends only to $4,000 OF which those now
The Covingon and Lexington Railroad is 90 miles long,
connecting the City of Coylngton IN Kentucky opposite
Cincinnati, with the City OF Lexington 49,.
The estimated OF the road duly equipped IS s2Soh-
The present available stock subscription of the Company
is about 81. $50. COO which is being increased.
The entire debt ofthe Copany including the bonds now
offered for sale Is $4,000 The Charter OF the Company
limits the OF funded debt to the latter sum-
1hirtyeght miles of the line next to Covington VIII Dc
the residue of the line TO Lexington about the LIST Nove
Der, 1883.
The Iron Rails for the entire line purchased. mostly
of American manufacture at rates so less per tun than
About 81 455 CoChas been expended the work up to
this date.
This Rosd one of greet promise usefulness and
prot an inspection OF map will show that occupies an
position Lexington situate in the center
OF the wealthy and productive portion of the State OF
Kentucky The taxables OF the County OF fsyette, IN
rates valuation that of Bourbon County through which
the Road passes, 10 over Sl3,OOO,OoO.
This Road connects Lexington with Cincinnati, to which
latter point nearly all the trade and travel OF that portion OF
Kentucky naturally tends.
The amount of travel and transportation over this line
lie very large There question but the returns TO
the Stockholders will be highly satisfactory.
The completion of this Road will odd greatly to the value
Of property near IT. .
At Lexington, this Road will connect with the great
Southern Roads in the OF construction to Nash
ye Memphis New Orleans and Charleston, with the lines
running Maysvie and Louisville at Cincinnati with the
various Railway lines running north east and west ron
that city.
The security of the ample character being first
that of the Railway costing 81 1000 the entire debt OF
which but S6C00o and the guarantee of the CRY OF Gov
irgton with population OF 1900 souls and over
S5OsO0 taxables and rapidly increasing in wealth aud
population.
Sealed proposals will be received for any not less
than Geo. until Saturday the 18th day OF December nt
at 8 O'Clock p. NJ. - - - -
Proposals viii be addressed to WINSLOW, LANIER
L Co the Age nts OF the Company, No. % Walls New
York irdoIsed, Proposals for COyngton and Lexington
Railroad Bonds"
Onehaf the purchase money will be required to be paid
the time accepting the bids the residue thirty days
Any purchaser Will be at liberty pay in full at 1n-
terest the Bonds will from the day of payment
The above e75lO will be sold absolutely, and without
reserve, 10 the highest bidders.
For further information this subject we refer as above
to the Agents OF the Company, No. 50 Wall-st:
New-York Dec. 8. 1859. JOHN b. CASEY,
President Covington and Lexington Railroad Co.