The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-04-20

breswster the ton of which secured ON tbs
city OF Chicago Inc right operate by po
the tracks In front tbs cry the margin Of Lake
Michigan, to the mouth OF the river, taus placing
depot property at the outes OF commerce, and
10 the centre OF the business part Of Chicago Outside
the property conveyed by US 70 the Michigan Csn-
trial Company there - of ground enclosed.
Of which the freight depot 5S2 By 100, aud the
other, the drst gram depot 2CO eet by 100 "A the
business OF this and otner roads is developed 1t is pro-
poted to lay out second bssia and erect other grain
depots. Ihe first grain depot viii contain 100000
bushels, and viii readily elevate and nser from the
cars 70 vessels rs COO bushels per day
This depot property in aoeion TO the OF
this con papy, AFFORDS abundant sDacs to admit the
business Of other reads and great inducements for them
TO terminate 81 this point To effect ths WITH safety anu
convenience double track has extended to Csu-
met, fourteen miles. Also by arrangement entered
secured and sex laid North street snd tbs Chi
csgo river connecting the tracks Of the Chicago and Bur-
lington and Ga ena roads with the Illinois Central Rail
road, at an outlay 10 this company of SGT 900.
The rent thus secured gave net in 1855, OF
$50 634 Al loo, or per cent $75o,00o 1t is snttc
pstsd the will exceed 500 O00
and in 1857 $3.50 0O0, or per two millions OF
dollars. The connection referred to with the Chicago
and G,ena Road provides that oil tbs through ous.ess
from places Of FIeeport sha TO this p>nys
depot which is of great convenencs to Passengers sad
facilitates the transfer of freight East
The funded deSt consists of SIT 600 900 construct
bonds, of which S75S 600 unsold.
acres OF land b the terms Of the mortgsga no
issue If bonds can be made on this security Aso by
Io4 mi OF road upon which net 80 4ab 4llOO has
been already expended and the stations cepots ana
The payment of interest is secured by the income of
the road by the the balance
Of land, originally pledged for interest," and BY
the STOCK.
So 600 OOO Of tree land bonds have been issu
BY mortgage $4,000 acres of lands, Of which
76,776 "a OOo acres are Already under CONTRACT at
svsrsge OF ST. 81 per acre. amounting win interest," to
The assessed stock of the company nov held by SIS
and SO share has been assessed and
paid on 129 $50 shsIer.
Additional equipment has been provided the past year.
(2l engines and 227 cars making tae aggregate cost
So III 80 for So engines machinery, tools and 462
cars, tor particulars OF which see report OF COL K B.
Mason
ENGAGEMENTS WITH OTHER ROADS.
To aid in and the construction OF the Mineral
Point Railroad leading into the al regions OF WISDOM
sin, 80 miles in length, the ninos Contra and .ens
and Chicago les cssrsss Oct TO- 1895 with the
allowing SO per cent on gross earnings Tor ex-
pendiures, income of per cent, $685. 900 Per
mum should be assured TO ills constructors and allowed
to that company by discount Of 80 per cent upon all
busnsss 20 and from said Mineral Point Railroad
30 per cent shall make up any deficiency Of the earnings
OF the Mineral Point Railroad to meet 500 coo per an
1t viii be that this company assumes liza
bty except that arising from business furnished oy the
Mineral Point Railroad.
On the 18th January, 1855, agreement entered
into with the Ohio and Missi ppi road lay with
venient despatch third rail-, expense OF that
company from Sandova to ST. Louis, to afford ntl-
nuous oge and to enable the cars Of the company to
pass to ST. Louis without transhpmenr Of merchandise 70
the broad gauge q the Ohio Mississippi Railroad In
consideration o. their engagements his company agreed
the Ohio and Mississippi Railroad, secured BY
$500, 0C0 OF their bonds The rail partially
laid but afterwards taken up In order to complete that
road to Vinoennes The contract is therefore void Oae
half the amount advanced has bsen adjusted, and the
balance viii be covered BY he security.
The 'sJolliet Cutoff leased by the Michigan Cen
tral company to continuous line rom Sc Louis
East. leads from Joliet to Lake Station forty four
and q half mills and rent of $50 600 per aunum is
n
to pay enc hail. tA 500 per Over this road
the trains and business Of the Chicago Alton and st.
Louis Railroad have been brought to the ILLINOIS Central
depot, 1t Chicago. aordirg TINS company valuable
revenue. There were other Inducements which in-
nuenced the leasing OF this road which will not probably
again be preentea for the consideration Of he company
The three cited are AL the engagements entered
into with other companies.
This company has me- with just consideration from
the citizens The legislature and courts of nois and Il
il believed tina. the local feeling is favorable to it in all
TIE elaborate statement earnings the road for
1855 those Of the OF and merchan
disc hereto annexed with the report of Col Mason,
settrg forth the progress Of the country he first
uved the hne only four years ago, across the then
racsless pra will be of Interest to stockholders and
II is conceived tina. careful scrutiny o. the results
already sttsned and the OF the effect not
only Ct the extraordinary land sales made by this
large ssae direc ed TO she line Of this road viii Justify
the belief hat the u value of the read for business
has DOT been over estimated and that Independent Of ts
reel estate its securities have reliance for the pay
nent OF the accrung interest from the earnings OF the
road.
The liquidation of the bonds viii commence next year
TO which five millions of notes possession of the
company, are appica BILE as they may mature in the
respec i've years.
The report Of the Land Commissioner, here With
submitted, and examination OF the statistics of
the progress of the Try since It has been opened
by railroad rmuncsuon evidences the great value OF
the company lands from which, in the opinion of the
Board the tire cost Of the road will be realized leaving
free Ct cost to the stockholders, the of this
great highway which unites he OF The Northern
Lakes with those Of the Ohio aud Mississippi t. be
ned at Cairo BY the MOBILE and Ohio Railroad which
IL making and substantial progress under admirable
management and will, when completed form the great
Of communication the Northern States to
the important cities of the Gulf Of Mexico.
Leroy NJ. Wiley, James +. JOY
John + A. Sandford Thomas f. Walker,
Jonathan StuIges Ebepezer Lane,
Joseph W. Asop, William Fl. Osborn,
Franklin haven, Fred'k G.. Gerhard.
J. n A. Griswold, Abram S. Hewitt.
Once of the Illinois Central Railroad Co March 1885,
The Mlwaubie Anri;an OF the IA inst contains the
following correction of blunders made in previous
number If that paper
OFFICE MILWAUKEE AVID SUPERIOR RAILROAD Co. J
MILWAUKEE, April IL, 1885,
MEssRs EDToRs-Your comments Friday. upon an arti.
Gle from the NEw YORK herald would Indicate that you
are not aware that entirely separate and dstin,t
organization from that Of the Green Bay Milwaukee and
chcsgo Railroad exists Tor the construction OF the road
northwardy by tbs Lake Shore towns Green Bay and
thence to Lake Superior.
The charter for the Milwaukee and Superior Railroad
Company granted this winter and the organic
perfected the 9Th inst by the election OF directors
and cicers noted In your paper of The 7th inst
The company succseds to all the rights and franchises
that the Green Bay, Milwaukee and Chicago Railroad
Company possesses north Of Milwaukee, conf rmng the
statement from the NEW YORK HERALD.
1t il the deiign Of the Milwaukee and Superior Railroad
Company to the construction Of their road
this season. and to progress with it rapidly
can be provided for that purpose
1t believed that Mil wsue is deeply interested in the
line contemplated BY this charter for the purpose of
curing to herself the benefits to flow from direct
mupication with the lumbsr regions in the v.inity of
Green Bay ard the mineral regions Of Lake Superior
c, R ALTON, President N. h g. R. r. Co.
The income Of the Cleveland and Pi.tsburg RailroA
for the year 1885, stated in It's annual report just pub
ished, was az tollows:-
FROM pbshsDBerb.. pLUf,V4I of
From freight. ............... $50 799 90
from mails, express, &c .... 81 ,O37 46
- 1851, s,7 80
The current expenses for operating
and repairs Of road, repairs Of
equipment &C.. have been. 1920, $3.50 83
And during the year the compa-
has paid on account Of