The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-03-08
PRICE TWO CENTS.
Illinois Central Vah, ~ond.


The following letter from Daniel Lord, Esq In rsIros
to The bonds OF h' Illinois Central Rsrc,d Company
IN reply 70 publication which appeared ,hi mcrnig
"a" opa'on was given ~ tAe solcltou Of the npoy
II Therefore comes irn an ON ~ source Nad ii,
intended TO rcfo's statements mace by professional gso
tismen for other perles.-
orr1cl ~ mE lIIroa c7saE,L RlnRoAp Co 7.
Nfw hri,t, yrb. ~ 1855. /
DAslsl loRD fhq.-sir-ue uonsttuctoa ot IA. r.o,t.
gigc deed mado ty this conpan, tAs lth Esn,s,,.,r
1sbl, conveying two niiots of R,rps of fand a. tn
noin tsniia lntroad apd brsuches, With the d,por ga
gns houi.n, tgihouit, sc % eer'a'n trustees ~.
purIose o. Taislrg funds from tno - tine "a.
prton Of the sad raroel and bfaucE-a L.s beeu uea
uoneo Of late, aud doubts espr.sfed re,her tho
does actually cenhrm ami eK,cuta tho nt.u-
uon o. tue company, Therefore. am rs4nestci ~
bi'cor 70 ask your opinion nrou the Habiecs, asi te
I,auet Jou W Visr should appear Ia yOu rc pt-,
any additional act which viii more fuby r.s, AMI
htm the prrn.soa 1nton, ci he eouyeyt The last
o. ne company, thouis nppe.t - ,i'anlc Nry truly
ycurs, Ae, " u oScoRh, Pros PROTEIN.
The clause ayluded to Ia thu above stter as fol.
lowe
And IL further agreed ,hat the sdd par.s Of tho
hrs PNt Their raccossora and all AMI r-f,on
pcrionr shomrocyrr, lawfully equtahly isriy M aay
er,a", right title or iut.r,s' Of IN TO the prem'ses
hcicnlehTr grantod, by, roa, uudrr, or In trust 'ar
them shah and viii ~ tim. tune. here aftsr
the reasonable tcquet and Al the proper costr and
charges Ike law of hs raid parties the second part
'b,r heirs and assigns. mAk-, do and execute. aud
s,uE. To be made Gone sad executed AL ani every rh
further and oTcr acts convey .uoos and
sutspc.r in ths Law for ths bette, ant nnre eassta
yos'ng and COO srmng the premises hereby granted
int1Idcd 80 b., Ia and tc the na par,s. of "a. 90
como part their heTs aHfgnn EAcir counsel earn
cd inths lv, shsll be reasonably devised advised
rtqu-td
10 tas Mr. LoRr~replIes ~ ,nnsxel--
The mortgage Il the Illinois Central kroad Company
to Morris hetchum, John hoos-, and samuel u. Lock
~ooe dated septts,bsr u, 1901 20 sovestecn
millions Of donfa the hoie, ~ construction bonls
o that ecDpany hhh been carefully examined by tn-,
and In M opinion IT. terns eonpr.hsuu very clearly,
and with all legal rufscioncy aHi effect, sho following
property
L. Aths roadway stations and aspots from the south
city Of Cairo, With the construction thereon
!? All thn roadway stations ard dnpcta Of the
main road 10 tie city OF q cago, with tho uctons
theron.
gsilroah from the northern terminus ~ the main ros,
being the sou thrrn terminus of ths pc- ani Michigan
canal rnd running by way % GAleoa, u point tbs
Mississippi rNr oppo''c u Dubuque, Ia io~s, With all
the copstruntipn thereon.
1. By the express language of tho mortgage, all this
- tho said tbr's parcels of roai beo.vn- arc also
granted ~ way Of mortgage, Including ths tolls, the
tse working Of IL tho rights. also auxiliary 10 the
maintaining aud contracting nf the road
A. tho rcsdbsA Ia conveyed and the s'otonr and do
pots by Lamo, the lands which they or,upy
1syed and The cousruc'ons aud erc ions VI s0rt
added thsIstp either before after the execution of
the mortgage, become real estas ati annared 10 tho
land part of n, and pass actually ami immediately
under the mortgage incuinb a. ovson tho
mt they added 90 the Lni, ~hsSh they dI,r
from tho rolling stock ~ hereafter nentlop.i
D. Two millions Of Of land part % that grantf
/, h. stata of III nois by 81 Congress. and ~ ths
state 20 The lFbai corporation And from the m,ia
and character of thcsc grants the lands thas cossf~d
~ tho mortgage taken uron the I'M late title ~
tho United aud the purpose and lien ~
the mortgage, exclusive 0t all 20 sblc grants, In
cUulercd or other eialns the COMPANY than tbs
wOttssg bonds.
no lana- are conveyed by Tho State ~ tho sano
trustees, In utt smsnR other thng. 10 h. thus mort
Fagrd. They cannot, therefore, by law 10 sublsotad
shor by'thn tah'.rn ~ tio railroad eosPsny "a
piier ar sup,fior claims.
g. urtlsmofs ia ~ defanlt in Ray ng the int-r
tho construction bonis secured by the mortgage
=" tie amount Of Who'll. years interest ths
amount q h,nds ~ any time actually ssusi, the tuA
',n have hr ught 20 take possession of all tie sboyo
mi ntunsd itcush, including tolls, inrot4s Nc And
.Gdtion, ito rght then Acrrgss TO take, undet tho
notgsRr, the 'nstner tenders cars mach merry tosls
and mAcTaA tt app.ttAIing To The road and a said
brsnchcs. Anl hh0ai tho trustees hRsitat. Tefurs
the toIGholdrrs themfsl,.. may By Appropriate pro
csedlngs Ia court, tuforoe tho ssCnritir1
The trustees are To scll the gagged property
rat0nabe notice and spaly he proecels 70 pay tiss
pftnt pal AID iItercst of the sonstrucnon Donds
The mortgage heBg daily rssgfdei, . lien supsrio~
70 any after acqufeI Judgments, subsequent grants
90 lbcumbrbnceh - the sDmplnyi % tho tAms
as vahd oEigagsa are.
T1e mortgage Il drawn With great care ani fairness Ia
aceuiae. unsrsbguous. sni IA the fails., manner
eomprshsnhivs 70 al ts particulars above nytlc.d
60 rot ttcons nj any andt 0aal or cobhrnsory dssd
from itV fsoai Company tho trustees the STATE of
Illinois. 10 fye ary pisr fusT
u. mortgage, FOR d. not .slYs hos Il be mDin
n0te comprehensive or efoetuAl In form.
Nav iohE March 3, lsJj. DASlf1s LORD.