Bradford reporter. [volume] (Towanda, Pa.) 1844-1884, 1855-04-07
NORTH PENNSYLVANIA RAIL ROAD co.

NORTH PENNSYLVANIA RAIL ROAD co.
The North Pennsylvania Railroad Company
have advertised for a mortgage loan of $780,
000 bids for 81 .000, 900 of which will be re-
ceived at the Company's office, in Philadelphia,
until the 2lst of May next. The bonds will
be issued of the denomination of $1,000 and
$500, with coupons interest at the rate Of six
per cent, payable January and July, and will
run thirty years, to the lst Of January, 1885.
The bonds are secured by a first mortgage on
the entire length of the road and branches,
from Philadelphia to the Lehigh river, with all
its depotS, equipments appurtcnanccS and in
come. The Company have already expended
in cash on the property which it offers in secu-
rity by mortgage for the epayment of these bonds,
tions money sufficient to complete and equip
the work some twenty miles ont of Philadel
phia The proposed loan will be wholly ex-
pended on the road north from Doylestown,
and is said to be amply sufficient to complete
it through to the Lchigh river. The Ledger,
in its money article, has the following very
sensible remarks in regard to the Importance
of this road to the commercial and other inter-
ests of Philadelphia:
The region of couutry through Which this
road runs is one of the most productive in the
State, and is believed by the entcrprising gen
tleman who have taken its construction in hand
to be essential to the trade Of our city and the
prosperity of its commercial interests 1t is
emphaticalIy a Philadelphia enterprise, and
aims to continue to this city, profitable trade
in our own State, the longer enjoyment of which,
however, is threatened by the increased fac-
ties offered for reaching more distant market
1t has become manifest that to retain what our
merchants have long enjoyed, something better
than the wagoning of produce and merchandise
must be afforded. The North Pennsylvania
Railroad is the result of this conviction, and
to carry the purpose into effect, up to the 23d
inst, $2,G96, $50 had been subscribed in this
city and along the line Of the road. Besides
its commercial Importance there Is reason to
believe, that it will be rcmuncrativc from ordi-
nary freight and passenger business. But this
is not the only resource of reveuue. The Coal
trade, it will be seen, is largely relied on, as
the following extract from the Companys Cir
cular will show -" The Reading Railroad the
Schuykill Navigation and the Lchigh Naviga-
tion, the distributing arteries of the Schuylkill
and the Lehigh coal regions are approximating
their tonnage, and if the mining operations in
the Schuylkill and Lehgh Valleys increase in
the four years next to come, in ratio CORE
spending to the four years last gone by the ex-
cess tonnage will soon require new lines to car
ry it to market
The Company, in anticipation of the growing
wants of trade and travel, are having the line |
Of the road graded for a double track, thus
giving additional value to the security offered
for the loan asked.
We have no doubt that this loan will be rea-
div obtained The affairs of the North Penn !
svlvania Railroad have been managed by Prec-
ident FERSoS with consummate prudence and
ability, and while other Roads are depressed
and brought under the hammer, this road is
out of debt, and possesses the confidence of the
public The policy pursued, has been, to push
the road no faster than the means Of the Com
pany would permit, in the meantime demon
stratng its utility and value to the commercial
interests of Philadelphia, and looking to its
ultimate completion to its natural outlet at the
State Line
The task which has devolved upon Mr.. FEr-
NON has been delicate and aricrous one
Understanding fully the fertility and value of
the country which was to be brought back to
an acquaintance with Philadelphia by means
Vi MS project, he has labored increasingly to