New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1855-07-24

believe that the latter years mseh
frequently spoken Of hs admirable ronte Of this
road skriins the sutbern shores Of Lake. Ee aad
identical with The OF what II aud must ever be the
interp Of and ayrl IN tue Ont
States Iii fortunate for ha this roae l. occupied
BY road Of moderate cost The d. sree o. egahaens- yen
this road it. ENJOY greatly due 20 the au
public When propeI EXHIBITS made there Is little
danger that those mailing them = not live mp 70 them
MICHIGAN SOUTHERN AID YoRTHERS INDIANA
RAILROAD.
The Michigan Southern and Northern Indiana Rail
road extends from Toledo AMI Monroe, upon Lake
Erie to Chicago, at the head # Lake Michigan II
passes into or through the four States OF ono Neni-
gan Indiana and Illinois from which States charters
for the respective portions of the line have been from
time TO time obtained.
The portion of the road first built was that e1enllng
from Toledo TO Adrian 80 miller, which was constructed
under the charter of the Erie and Kalamazoo Railroad
which wac granted by the Legislature of Michigan, III
April 1888 with a al of ZOO 900, III nifty dollar
shares extend from Port Lawrence, near Toledo by
way of Adrian, and thence on the mos pracucaOi
route 10 such point on the Kqlasnszoo River AZ they
should deem most eligible. BY subsequent ahsuu
ment. they were allowed TO Terminate the WORK al
Adrian aud there connect with the Michigan SOUTH
ern road. Tie latter work vas char ere1 in May,
1896 by an act providing for the sale OF he me wh en-
he'd been cor struced from Monroe to Hlsdae by the
State and the organization OF the present company
By this act the road and its equipment we're 20 be soi
for the sum Of $500 000 of which $4,000 we're 10 be
paid within Thirty dave, and $4,000 additional within
thee uODtnH, hlttr Wnlcn tlc Noit ~ PN
in Possession of the work, on giving bond OF
100000 for the lulhllment of their contract The
remaiiiag $i59,OC0 were TO BE- discharged IN
eighteen equal semi-annnal Apayments, with SIX
per cent interest," failing 10 do this the com
psny were dissolved, and the property reverted to
The State Tee pas meat Of Tins sum might be made IN
cash or State Bonds II certain rates 1he route OF
the rev line was TO proceed from suitable point
at or near the mouth of the ship canal IN the City OF
Monroe through the villages or towns OF Petersburg,
Adrian llillsdae, and thence 10 COiwa.er, by way
Of J0ntsvllc if deemed the most practicable routei
and ilense TO Lake Michigan, the line heretofore
established IA the line of the Southern Railroad
branch line was also authorized 10 be buli, passing
through Tecumseh and Clinton TO the village OF vi All
chester in the County of W ashteaaw. No other east
end west roads aiteIward TO be chartered, any
TorfOr Of which shOnld within five miles OF their
iLe or commerce. within twenty miles OF Monroe, aud
proceed TO Lake Michigan, within an average dis
tance OF twenty miles from her line. Inc roai was
reGuirCd 90 be cOmpl ted from Hisdale 10 toldwater
within four years; from that place 70 point on the
ST. JOsephs River in eight and 10 the village OF Niles
within twelve years from date of charter. Three years
were allowed Tor the construction OF the Ieeuheeh
Branch this period was subsequently extended thIee
years. The rates OF toll aGd transportation wee not
10 exceed Il ose established by the STATE for the Soath
ern Road on the first OF January previous United
States and State troops and munitions OF war; when
required to take precedence of all other passen-
gers. The Company might own STEAMBOATS, or other
vessels, not exceeding SIX IN number. lue cOrpo-
rate stock was TO consist of 80 900 000 with the right
Ovef'e'i
each; but operations might be commenced on a SUD-
septon of $500 900. The Directory was to consist Of
nine shareholders. The Company were TO pay an an
nusl tax on their PAID IN capital oil cent iii 1891,
and after that date 2 cent for which they We're TO
beexempted from all other taxes and charges what
ever. The State taxes to take precedence OF all
other demands. Citizens of the State were to have
len to the amount of 90 for dc nands contracted
within lie limits. The State might purchase the road
and all its property at any time af er ;he lst of anu
sry 1867 by paying therefor the market value Of the
stock ano 10 y cent addition-the value to be fixed
by the average prce for the previous twelve months;
but not to be less than the amount of capital actually
paid in. The provisions of this charter made
liable To be altered repealed, 10y vote of twothirds
OF each branch of the Legislature.
A series of amendments was passed IN 1919 and 1850
authorizing the Company TO relay their road with
pattern of rail not less than Sc 10 3 yard and extend
ing the time of completing il, empowering them 10
issue bonds 10 any amount not exceeding the capital
stock and TO create guaranteed or construction
stock by the 9th section the Company ~ be
compensated for all loss damage resulting from
repeal of any section of the charter by the Legislature.
The Northern Indiana Company chartered by
the State o. Indiana in February, 1885, with capital
stock of $500 O00 in shares of 800 each under the
name of the Buffalo and Mississippi Railroad Com.
"pany" TO build railroad from the eastern line OF
the State, IN the direction of Maumee Bay, 10 the
western line in the direction Of the Rapids of the Hi
nois River. Rates OF toll were left optional the
Legislature reserying the right regulate the
not 10 reduce the annual dividends below l. g cent.
The counties through which the road passed
thorized 20 subscribe 10 lie stock. The work
quircd 10 be commenced in five aud finished within
Twelve years The right OF borrowing money to the
extent of $780, 600 granted. The charter was Inn
tied TO IS wears DURATION aud the State reserved the
right 70 purchase the road an fixtures after IS years,
by paying cost and expenses, with Il cent annual
interest from its commencement
by subsequent Ell actment passed ls37-l5j3 the
name Of the Company was changed 70 'The Northern
Indiana Railroad Company" the right 70 borrow
money 10 any amount necessary 10 comp etc the road
conferred the tine allowed for flushing the road
extended ten years the route changed, proceeding by
way of Michigan City toward Chicago; the CORPORA
non empowered 20 enter into running contracts or 10
consolidate with other Companies; branch author
lied TO be built from La Porte Goshen, South Bend
or Michigan City TO Lais, ette and their capital stock
permitted 10 be increased 10 the extent Of si5 600 per
mile beyond the original amount in addition to other
provisions contained in the General Railroad law Of
the State, passed in l5J2.
The charter granted by the Legislature of Illinois in
June, 1852, authorized the Nor hern Indiana COMPANY
10 construct a railroad from the City of Chicago ia
sOuthcasterly direction 20 point on the Indiana State
line, where Il would connect with the western division
Of the Buffalo and Mississippi Road Other provi-
sioDs aIe contained in the General Railroad laws Of
Illinois passed lsf9-ls54.
Under these charters the roads were CONNECTED and
tie entire line from Toledo and Monroe 10 Chicago
brought into use
The rosd Is 242I miles long from its terminus in Chi
csgo 10 Toledo or 2i6 10 Monroe. The route i one Of
tie favorable 10 be found even in the Western
country consisting Of long tango i~ued BY curves
OF large Tadi. The country trayersei By the line is
beautiful and productive, being almost continuous