The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-02-04
s1,4s6,417 IS

1855. $,4S6, At IS
TIE Company have expended during the past yssr for
the road the 81 o. SCI sss TO- which has been charged
10 The operating part on the first half and part
dividend of Eve per paid In July last and
like diyicesd s payable January 18th.
Frm the Jesrs earnings, the expenses, interest
dvcends and the Ell usl contribution Of $40 900 to
the sinking fun there remained las appears from the
income account abovs) surplus Of $l703s4 S. esti-
The road and 6xtarea have II main Aimed
now In good order The have deprecis and
to meet their value the board decided to appro
pirate this surplus considering it the proper to
Ths commissioners Of he linking fard hold forty ave
Of the bonds in .hca the fund first TO be invested
which they hsve purchased.
The construction stock will hereafter be led to the
dividends other OF the company nd 1t
mar any be exchanged by surrender OF the GER
tfcates held therefor.
II has ling been deemed matter of uch inter est to
this otmpsny that railroad should be constructed be-
tween Toeco and Detroit, but until the last session Of
the legislature Of Michigan no authority could be OBJ
tnfned n ON that STATE To authorize It.
The charter Of this company in the Safe Of Ohio
thorizes the construction Of much OF that road Is in
beirg the OHIO lire to Monroe. obtained nearly
years ago. and has been psid for At the time
the right OF way was procaret contra,t ade by
cur then Nos then Indiana Railroad Company for the
construction Of this fourteen miles Of road, by which
everything Except the rails chairs ana spxe inc udiog
ienoDg ana Sailassing, to be furnished and per-
formed by the contractor for 81 600 mile By
solidation this With Other obligations, assumed
This fourteen miles is but fair average Of the whole line
TO Detroit.
known that are construct ng what is called the
Goshen Air Line. which viii, when com eted be the
main line Of the road from Chicago Toledo We shall
then have the present road from Ekhart 1.-THE poot of
intersection Of the Eastern lins) east Monros dis
lance t LA miles, 10 good order and 10 be main ained
and operHd but having eastern terminus at Monroe
very limited In it, buness and of little promise for
future BY practical extension Of this road about 80
miles from Monroe, ,ch Detroit where there Is a
very large and increasing business This extension is
the portion Of the Toledo and Detroit Railroad beyond
that part heretofore med by the Northern Indiana
Railroad Com pany. We have nov road from Chicago
TO Monroe Of 242 miles, TO which add the distance
tro and We then have the shortest railroad line be.
tween Detroit Chicago This fact may show the res-
Why authority to AXE the road was 80 long with
COMPANY has been formed for the construction of so
much Of the road IL In the state Of Michigan. Seven
S2oo Tor the sole benefit Of this company and thew
form q majority Of the direction OF the ne~ COMPANY
and they intend to assume the construction OF the
he isssth Of road required to bs made Ia asout
. nilss We bsleve that 4 win be profitable road Of
Thsre Il railroad connec ion bet the south
Side Of Lake Eric and Detroit During navigation there
Detroit and IL cities Of Cleveland ssndusky aud roieio
Under tns Conviction that the value Of this extension
10 o. % .
and tAs ssss and economy With which may Be operated
vs hAvs proposed 70 lsas the road, when somplstsd
psstsd oopsstion Of road and lie inportaocs Is
- oasar eannot doubt but thai Win rs,siys tie ao
prssstiou Of ~ stsokholdsrs Of this company.
There ID no doubt but that the construction of
railroad between Detroit and Toledo would be at.
tended with all the advantages enumerated, and that
the through travel on the Michigan Southern would
beagey increased byis connection with Detroit the
Great Western, Canada, and the Suspensiou Bridge
route, but We are decidedly opposed to the principle
on which It's construction Is about being accomplish
ed. We are opposed to the Michigan Southern Com.
papy leasing any branch road and guaranteeing
eight per cent per annum on its cost. We do not