The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-02-02

GALE OF BONDa-wuMRDING6 3 NOuNT-AN-
> drew Mount Aue ieneer $500 900 seven per cent
convertible mortgage bonds Of the Catawissa, Wams-
port and Erie Railroad Coppany.-The uniersgned
authorized BY this company to Offer At auction $4,000
"f their per cent bonds secured by Arst aud only
mortgage their road to cost g. 400 600 and convcrt
bile into the Of the company ut any time before
1901 These bonds in Of 81 00) each intsfes.
PayaS Vet Se a. the hank OF North Ame IN
place in 1867 They secured by mortgages made 10
aac Seymour and Elias Fasett trustees for the bond
holders. The Catawissa, wiamsport ana Erie road ex-
tends from what is called the base of the Broad Msun-
TAIN where it connects with the Little seauy i to WI
Tananend the Little Schuykil! connection 10 the
Beaver Meadow Railroad, distance Of thirteen miles
either de Of the ne not seeding five miles in lsnsh
The portion Of the line from Tmanend to CatawissA thr
tyhv. miles i gradedfor double track Also the branch
OF thirteen miles to Beaver Meadows.
10 lay down the track and furnish the graded road est
To con ,truct from Tamaneni TO the connection
with the Little Schuykin. ................ 10000
The extension from C.tawissa to wamsport loo 600
Total. $4,000, 90
To produce this sum the company have issued IL ccC,
GOO in bonds secured by mortgage with the right %
issue $500 600 under the mortgage after the
road Is in operation to Catawissa. This gives-
To lay the track, &C. ON the graded road. 5000 GOO
To connect with the Little Schuykill. 100000
And leaves the $500 applicable to the extension to
Williamspoft. For this sum, with the balance in stock
of the Company, they have offers from Responsible con
grade and do all the work. and furnish all the
materials.
The whole cost Of the road will stand thus:-
PRESENT stock. w 80
Stock to complete to Wiliiamsp port 100000
Total. 80, 90
Deduct from this the value Of the coal lands Of
the Company Observation-Disclosures. 100000
Total. a.soo 900
Or, for whole distance 90 miles, SIS 4s3 per mile
ncctions, one with the wiiamsport and Emira Road,
now under contract uniting It with the New York and
ncctons and the other with the sunbury Road
making important link in new, and shortest great
trunk line between the West and tide water The
rangements all complete for opening this entire
new line Of communication Erie the lake to New
York. Philadelphia and Baltimore, to wit, the Sunbury
and Erie from the lake TO Willamsport the Cattawss
Wilamsport ard Erie. from Williamsport to Tamaqua
the Little Schuykll to Port Clinton; and the Reading and
Philadelphia, to Philadelphia; or from TamaqHa, the
Leiah Valley Road to Eason, thence the New Jer
sey Central to New York The only roads remaining to
be completed TO consummate these connections the
Catawssa Wilamsport and Erie, and the Sunbury and
Eric both of which In part contract and the
Parts not yet let only wait the settlement Of qucs
By this proposed line Of roads the distance evs
land aud New York Is 05 miles less than by Buffalo and Al
bany 10 miles less than by the Eric Road and SO miles hes
than by the Cleveland and Pttsburg and PcnnsyIvania
Cen raj Line while the grades compare quite favorAby
While the projectors claim for this road these advantages
of through traffic. they also claim that for local freight
business it will have superior in the country. It
passes through broad extent OF country at present
without rail access to the scaboard This region ID ex-
ceedpgly rich in agricultural and mineral products and
the road renerates the very heart Of vast deposits Of
both bitumnous and anthracite coal and Of
beds OF iron the tonnage OF which viii far exceed that
of any agricultural district however fertile. Looking
upon the map, it viii be that the distance
between the buffalo and Albany, and the New York and
Erie is about seventy miles, between the Pennsylvania
Central and Baltmoreand Ohio about the same; while
space left between the New York and Erie and Pennsy
yana Central, about hundred and fifty miles. The
proposed line occupies about the centre Of this
Thus when this line is completed there will be five great
thoroughares from the Atlantic to the lakes in nearly pa
rael lines with space between each Of about seventy
miles, distance quite sufficient to afford ample local
through business. It is believed that the connection
of this road with Emird, by the Williamsport and
Emra Railroad will add very largely to its traffic By
this route from Niagara Falls 10 Philadelphia is but four
hundred and fourteen miles, whereas by Albany and New
York is 55S saving IA miles Of travel by this route.
lance TO New York is 271 miles add t. this the distance
to Philadelphia, 90 miles makes 1874 from Elmra 70 Phil
ade hia, whereas, by this route it will be but 26S
ing 100 miles, and bringing Emira 10 miles Phila
derhia by this route than via New York, by The New
York and kie When 1t borne in mind that the whole
tide Of pleasure travel during the season Il from
South to North, that the interchange of products be
great the importance ef this Communication can hardly
be overraed The bonds viii be sold on Wednesday, the
10Th day of February, at the Merchants Exchange at
| 12tl o'clock p. NJ, by WIIMERDINGS & MOUNT.
Twenty per cent Of the purchase money will be required
uron the day of sale, the remainder In monthly install
| ments Of ten per cent. The purchasers however, win
have the option of paying in full Exhibits containing
full particulars the condition and prospects Of the road
| with map can be had ut the agents Office.
| VIM D. LEWIS President G. w. and T. r II.
GILBERT Coz JOHNSON. Agents. corner Exchange place
| and William street