The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-04-16

Increase In receipts in the six months ending Apr
lst loco'..'...... ..$45,81 81
This rate Of increase ON road which ct present has
but one end WIN give pretty good dsa Of its produce
tivensss when completed and all its sonnsctions made
This road commences Lynchsurg Virginia and win ter
inmate, when finished, ct point the Tennessee line
The whele distance is 2o4 miles, Of which 1856 miles are In
operation The company is in the market for loan Of
one million Of dcars for which second mortgage bonds
bearing per cent interest," with coupons attached viii
be issued principal payable the 30th june 1884, and
interest semi annually at the Bank Of America In this
city These bonds are issued under full authority Of the
stockholders for the purpose Of finishing and equppng
the road and they secured by second mortgage ON
the road with al the real estate, fixtures and equip
ments franchises appurtenances and privileges apper
tanning thereto. The first and prior mortgage u Tor
81 000 Of which 81 900 was taken by the State
Of Virginia, the following very advantageous terms
Six per cent interest and the principal to be nquidated
by payments annually OF per cent for thirty
years. commencing the LIST July 1855. The remaining
$500 900 sold at par The capital of the company
10 0o Of which Ii held by the State Of
Virginia. and the whole amount paid in s 1915 100
There has been expended the road about
construction, rolling stock and expenses, sum double
the amount Of both mortgages, which together do not
exceed $13 600 per mile OF road The road forms link
in the chain OF roads which to become probably the
most important route in the Union, giving almost
straight line from the Northern and Eastern cities to
those in the Gulf Of Mexico and the Mississippi short
ening the distance than two hundred miles, and
there is but link to be finished to afford con-
tnuous railroad transportation from the city Of Wash
ington to Montgomery, Alabama. But Independent OF
the travel that win to 1t part of the great
South and North line the Virginia and Tennessee rail
road has certain local business Of its own which is
clearly ascertained by the earnings Of last year, with
only eighty Ave miles open, ($l63 o29 79 being suf
fcent of itsefto support the road 1t passes almost ts
whole length through region Astounding with variety
of minerals Of the most valuable nature such Lead
COAL iron, "copper" salt and gypsum all Of which exist
in great abundance which have been hitherto neglected
but which fast being developed that they be
conveyed to market.
One per cent Of the amount Of the bonds Is to be set
apart from the earnings Of the road ally as sunk
ing fund for the redemption Of the bonds and the stock
holders have pledged themselves that no dividend on
stock shall be declared excepting from cash surplus,
after the interest and sinking fund have been provided
for The proposals for the bonds will be received By Mr.
Adrian Muller, No. ss Wan street, until O'Clock P.
NJ the Oath of May, when they win be opened in the
presence of the President authorized agent Of
the company.
The annexed statement exhibits the quantity and va
lue Of certain articles exported from this port during
the week ending and including Friday April 13th 1855,
distinguishing the destination and extent Of shipment
to each place.