New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-03-08
. sad God Of Ere Tie sunsnry ana .hsrss Of the

N az
n y, - ;,,o tbs Treasury 81 the Commonwean DpnHs
- sspeIco fr the right Of way from Erie to the fehn
s,Ivsnia and Ohio state ine
The bill ives referred.
W o.ced few days since that the Toledo and Ilruoe
"a .te Ere and Wabash and 81 Louis Roads hsve aego
,d 600 of their Bonds at 30 and interest The Urea
amer Mr. Wbi,ehouse had previously negotiated s5ooooo
~ these Bonds These two roads form continuous line
tbroueh the Wabash Valley from Toledo, Ohio TO Dsnvie
u;noi, distance of 2ie miles The united capitals are
seeooO Of which 100000 is provided for by stock
subscriptions and the balance by frs! mortgage cent
5ens, redeerable in 1865 and convols into stock for
SIX yesn their date Let August is5s The mortgages
the whole line and are made the Farmers Loan
aud Trust Co Tru<cees The portion from Toledo 70
Fort wsyne-9e nlesw be opened in October next ana
the whole road to Denyle will be completes within Twelve
months OF the 100000 stock subscription % Y cent
1880 COO have been psid and the balance VII oe eausd
foc in nsten Of 10 cent eech 60 days Inc conn
tim of the Lake Erie Wabash and ST, Louis and Toledo
and Illinois Railroads with other important roads a. ther
eastern and western ernpi have been arranged on most
s;.fc.o,v bsss and when these two roads are finished
will he a continuous line from Toledo due west 10
N;s.ouri River distance Of nearly 700 miles Toledo IS
veadv connected with the Atlantic Ocean BY Railroad
estimated that both the way and through travel OF these
syl fully equal that Of any in the Western States ana
w reiph traffic be sufficient to call into reqlIsiton ther
nj capacity The right OF way for the whoe distance nas
ten secured and nearly all paid for 1000 tuns Of ras
arc already on hand 10000 yet to arrive are to be de
nversd within the next ave months Ample means are ct
The command Of the Companies for the entire completion
NJ 10th roads and they have Indebtedness excepting the
mortgage bonds above stated
he first mortgage bonds issued by this Company amount
r. 2s0OOOO which, with the secood mortgage now pro-
posed 10 be issued and sold 100000 makes s5OOooO Of
debt or abou. $4,000 p mile The subscribed and paid
mo stock ia &c 80 that the debt will be less than one
half the cost Of the road The parties engaged 10 the con-
struc,on Of this road guarantees OF the honest admin
straon of its finances and this with the convertible clause
n the bonds makes them worthy Of the attention OF IN
vestOrs.
The Ohio and Miggisspp Railroad is being pushed with
energy Within the next 60 days 81 miles Of the road
FRI m Cincinnati connecting with the Jeersonvle Rail
road will be opened and equipped with ample rolling stock
for the business Of the road This division forms coonec
ton with Louisville by the Jeersonvie Road AMI reduces
the time OF transit between the two cites from II to hours
by the river to not exceeding five hours by railway Ih
division of the Ohio and Mississippi Railroad will also form
the most direct route for reaching indianapolis and Terre
Baute Sixty days hence IS miles more of the western
end Of the road 100 miles graded and ready for the
rais will be opened and fully equipped thus forming by
connection with the Illinois Central which is soon TO be
opened the first connection by railroad of st Louis and
I
nois Central connection with Nashville and New Orleans
by the roads now in construction The gross receipts Of
these two divisions Of the road il is calculated will reach
from one and quarter TO and half millions of dollars
per aonum The rails for the entire road purchased
and paid for and about two thirds Of the whole amount are
already delivered the road in transit from
New Orleans the same and the remainder be delivered
this spring and summer
The original cost of the road estimated at 100000
and made for completion at that sum; but grow
ing conviction the part of the managers of the road OF
the magnitude and importance of the work and the i'm
mense amour. of business to be done it has induced
the latter to construct much better road than origin
SLY contemplated by reducing the grades from maxi
mum of 1ty TO that OF forty feet TO the mile large
portion Of the road also TO provide bridges culvers &c,
for double track, ard to than quadrupe the dmen
Of the depds ard machneshops aud also, q, very
hEze s1peps the Eastern Division have provided depot
.ecc-zodsors and grounds in the City OF Cincinnati
al lr.e6i.;,y on the bank OF the river The rolling
fek q he rad has also been largely increased the
grsEEiess Ct the original cOntrrc, In addition to the
sssong another item Of oot has been made which
cesned Of very great importance only the public
bet slso the interests OF the stock aud bondhoders
TIE tire originally agreed upon for the completion of the
road hos been shortened nearly and half years The
net earnings Of the road for thai period will is estimated
than pay the entire additional cost of the road
original contract
All Of these additional expenditures is estimated viii
reach the Of about two and half millions of dollars
Already there has been expended in the ron construction
and equipment Of the road about nine millions of dollars.
To the additional the companies propose raise
from two TO two and half millions of dollars by sale to
that extent of their Second Mortgage Bonds They
propose to issue OF this class 100000 II believed by
the Directors that with this negotiation made the entire
road from Cincinnati to st Louis and viii be opened
equipped and in suceefeul operation within twelve months
q, the oude from the LIT March inst The road completed
will cost from ell 900 600 10 eI2O0oOo and the Company
believe that Tor its length, bw grad4 and general SUBJ.
ssntia character it viii compare fsyofably in pont of
cot with any road in the United statss
The Boon Journal hos resumed is bisfy u the Lake
Sup rior Copper Mines
When first commenced these articles n in
tenon to place the companies In order according 10 de
veopment snccessful progress but many Of The
panies being managed in other pars Of the country,
change the plan, and details in regard 10 the mines
under Boston msnhge cement ssibe TO u.s.
conclude to 60 through the Boston list first.
The Forest Mining Company commenced work in the
winter OF $780, property Of 1880 of mineral
land lying on the western aide Of the River Ononagon
and twenty miles from the mouth IT has the range
Of hills those OF the Minnesota and National Companies,
which only interrupted in their regular BY the
valley Of ,he river The river nsvigable for large keel
boats the landing Of the Forest Company this land
ing the company for the convenience of shipment and
reliable supply of water have erected large stamp and
saw MILL driven by engine of 80 horse power, in
successful operation in the neghbcrhood OF this is
mineral house large frame warehouse and six dwelling
houses Leaving the landing is good road, about one
mile and half long with gradual rise of about 900 feet
TO the mine. Here is large clearing OF well cultivated
ground, comprising about 6ty of land with fifteen
good dwelling houses, mostly framed and aording suf
con accommodation for upward Of $50 men There are
also three whern houses, blacksmith shop stables, &c.
The mine was opened by sinking a shaft n OF