New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-11-01

CEALED PROPOSALS will be received ct the
- osce Of the NEw-YoRK AND ERIE RAILROAD
COMPANY In the City Of New ors un.B the dsy Of
January 1883 '9 20 purchase Of - GO 90 Of .Ss 800. &
annually The 's days Of February and Aas' ussa
In "a = is syw YORK AND ERIE RAILROAD COMPANY
Ill se themselves in said bgods 70 pay monthly commence
ing on the s, ,sS. ofihs United State. Trust Co. 70 Ss wi
"" :, Fa fs' RGscAD co tSs AM
me i,sus as long they can Be pareha,sdn or 1aaer
pa End Whenever the bonos q INC % 81 oI1nos %
eaA sPs i III ssE al aitI
COMPANY which can be purchased A. or ander par. Aad
R. e IPS;Ss Il p SHISosS cos sSS5'
q under rAr then the said shall nves the ssa
monthly and hs sserSng R,eri 70 ,sa s,sS' Of
e.n he purchased at the lowest And all boaas When
ssed BY The said Trust Co shall be cancelled By ~nfns
SSEw clSSS AND ERIE RAILROAD coapASY;' sst
the coupons such Cancelled bonds sh. Dc collected ~
I msnt. Of the NEw.Y6RK AND ERIE RAILROAD COW
PANY and the sceuins Interest, on the eonvsr.sn o. con
dueed the entire debt OF the Company 70 Amer
vested in such trust Co be closed and all Cancelled bend.
.1S the S1psS ptsIss, Tssni 10 tue
The successful biSders win be required to pay 10 cent ia
cash on notice Of the acceptance Of her BIDS cent
The ISeoms Bonds Of the NEw-YoRK and ERIE RAIL
The Directors of the NETWORK and ERIE RAILROAD
leave e state ths, i vii amply sufficient pay The aeos
Bonds redesmsele on the LIST fse,n., nsn ana sne ss.9
The unfinished work now Irder way. A.. .
every kind beyond the proceeds OF the present esn w 30
charged account and paid from me income o. ne
the monthly payment Of the sinking fund -,
Amer the negotiation OF the present loan and the
of The Income Bonds. the position OF the Company will be:
Stock .............,......'.'el OO4Wv
Bonds Of 1857 let mort.................. 100000
I.zfIQg ri
P PonSs o, issS conysr,ibe .......... 100000
Bonds OF 1871, convertible. 4S5l,0eo
Bonds Of 1875. present loan. '''''''''''' 4Voo,W9
~, ..ss.s7Sooo
In the opinion Of the Directors perfectly safe estimate
H. @ the Road for coming year Ooo oo
from which must be deducted: "a ,ooooo
E.psS, S:; ss per SSD debt sii5 os 1880
sintins 4@ooo-S5 $3.50
Net revenue eqa. to over per cent on stock sp ,.,
The Directors OF the Company confident these estimates
G be y s &c Ias ' '''
49,; ssssss So g 90 say 81 Pc: : ::s
The business the road depending mainly on the local r
ton cou@s: hTousa which g,s.e. In the opai.e.f
the MI nS "a. rosa s.rn ss
dollars If the future increase In the receipts be estmsted
ony is u cent per sunum which not much hafo
the average the past the above utmost espacyo
the road III be tested in 1885,
Az to the running expenses as they were only sl cent
in s6s and 1854 every probability that with nsd
on and an increase the traffic they be reduced
y cent but they have been estimated at IS v cent 10
leave ample gan for contingencies
The effect the monthly purchases BY the Trust Co.. Of the
Bonds their market value fail
be Immediate and will insure to the original purchasers
tain profit within moderate time for while the amount o1.
standing will decrease each month the absorption BY the Sink
ina Fund will constantly increase by the accruns Interest
the Bonds In the hands Of the Trust Co. In eight and han
the Snkrg Fund will absorb four million hundred
and sixty eight thousand and hty dollars estimating al
purchases of Bonds by the Sinking Fund to be made
That the Company will be In condition to make promptly the
monthly payments the Sinking Fund all acquainted
with the Income Of the Company doubt for moment All
the past difficulties of the Company have arisen from As
necessity contracting for expenditures before securing the
requisite funds hem This now entirely at an end
while the daily increasing of the Company must In
evitsbly the value Of its Bonds well Of
Stock the OF which will doubt long take nk
among solid investment stocks.
Proposals should be indosed Proposals for New York and
Erie Railroad Loan aud addressed to DANIEL DREW,
Treasurer. Erie place
Ner. York, Oct %, 1854 - -
HOMER RAMsDELL President
NATHANIEL MARSH, Secretary.
OFFICE OF MEssRs. DUNCAN, SHERMAN Co. BANxERs,l
NEW YORK, Oct D., 1851 !
TIME INTEREST DUE NOV l. on the BONDS