New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-12-18

\, sop,.mber neat. Accompanying eaen Oohd VIII DC
.c;o for ten shares Of stock, which the party sub
.or,bns thereto will have the option vi taxing on pay
-. esa of S y cent This privileged stock will not
N farther assessed until the roads are completed, and
at then unless necessary after exhsustpg all the pro-
eeds Of the land grant and al available resources.
TIE Trustees of the Mortgage are three Of our most
,sspertable ctzens-,he Hon. Greene c. Bronson, Mr.
ghepherd Knapp. President Of the Mechanics Bank,
and Mr. J. L. Souiter, President Of the Bank OF the
RepnbIc These gentlemen possess the confidence OF
tAe pobhc and sufficient guaranty Of the faithful
psrErmaace of the trust The stock privilege attached
- these bonds gives them speculative value, which,
n view Of large premiums obtained fur the Ihinois
Central rights Of the character, viii doubtless ~
kac attention. These rights, Of which there were
seven given with each bond, are selling at 23@|o
cent premium. The La Crosse road, gives ''n
rights to the bonds, has the same amount OF iana "
the mile, with route directly IN the line q trave'
east and west and without the land grant would douot
less be paying road. The circular OF the fpeaen''
annexed goes faly into the detail Of the proPosoo'
O,y,cr oy The LA Crosse AND MILWAUKEE,
RR Co., No. Wallst, N. T., Dec. ", ioso'
To rBy SrocKHoT DERs-Geateae On the otn
November last addressed a Circular 10 you nsae,
sonew hat ct length the past operations auu ,.'ao
l.r. OF the COMPANY; aud among other measures ex-
kibed plan OF finance by which We Proposeu " pr
vide the o. cessary funds for ohtoumg gu,
- eornlen0 our ~ stem of improvements AS copies
~ hst paper Lave been cent to every member OF the
Comnany Il 10 not necessary FOR me here 10 repeat tast
man farther tb sn To convey t. you an idea OF cnsn5e
sY modification which it is proposed 70 sdoPt. omee
Ssr;ng nv Crcuer printed and distributed, it hos at
1raete3 rae attention from some OF the sound
est busintss among our tfockhodsrs; ana aiter
}ul interchange Of i9eas and mature iioerauoD, we
have decided ON modification Of cur plan, which will
ss,ve at the same result by process more
beneficial TO stockholders individually than by the one
heretofore proposed. ..
amount of land applicable to tae road rom Madison
10 St Crox to be equal TO 1888 OO0 acres, worth Vs.
SIS OOO and that required xlO, 70 complete
eur roads, which would leave excess vi 81 33oooo,
which sum would be sufficient to pay our existing dept,
and refund 10 stockholders considerable part 81 the
amount paid by them on stock. Also, that OF tnis
40 $50 coo required to complete the road, then pro-
Dosed 10 raise s. by bonds issued on the sec1
sity of q mortgage which should include the roads
kom Nadison 10 st. CIox, and from Portage City 70
La Crosse and also the land applicable to the COO
srpetion of those roads and the Remainder ny means
Of the fall-padI stock of the Company wnich woad
Be esued to the present OF inture ds eH
ited stock dividends thereon to the amount OF all
lands sold and applied on payment OF bonds 80 issued
Instead, however, Of makng these bonds for the
amount Of IS 600 only, and racing $500 600 in
stock, We propose 10 issue bonds to the amount OF
$40 DOC, OOG secured the aforesaid lines of road,
equipments and lands, and these bonds are 70 form ,ns
means to build and equip their taid lines OF road
There bonds are of the denomination Of 81, QUO esch
and bear date lot February 49, and are rsdsemsois
Coupons annexed the of per cent payable
m the City of New-York. The Company reserve the
night to take up these Bonds at any time before their
maturity on paying to the holder the sam Of 81 100
AID accrued interest therefor being at the rate of 10
Der cent premium. 1t stated in the circular that
m order to give the strongest possible guarantee for
NE safe eepng and faithful application OF the funds
Of the Company, would be to select three
Trustees whose position and standing would give full
assurances to that effect The Comps have seiected
~ ShaphQ a..
T. SoutteY Trustees for such purpose aad they have
confidence in believing that these names furnish all
necessary guarantees for the faithful performance Of
Ne before mentioned trusts.
For the present. but 600 900 Of these bonds are to
10 Issued and disposed Of which will afford the CON-
psny the means TO prosecute their work during the en-
suing year.
The Company now offer ito their stockholders the !
privilege Of subscribing for ese 5onds to the amount
which they ma syeray hold of the captsl stock, on
Nc nth Coy of December inst the time OF closing the
books) Such subscription may be made at any ulne
1etween tho said 10Th day Of December and the I'd day
Of January 1857. The bonds are to be sold at ~
cent and accrued interchangeable 5 y cent at the
Sme Of subscribing, cent on the fret day o. Feb
April, May, June, July, August and September, 1887,
respectively. Accompanying each bond there will be
.crp for ten shares of stock, which the party sub
Inc cent on itspsr value. No further miscellaneous
viii be required TO be paid on this stock until the
reads shall be completed. and not then nor thereafter,
unlest me same Snail Do fequi'eu ny ioieo vi o"'0
unexpected emergency, to meet liabilities Of the Com,
pany after exhausng the ayais OF the lana grant ana
ether available resources.
few words of explanation will rem Ter clear to every
one the effect which this will have on the In
tsress Of stockholders, for whose benefit slone Is
prcpoted. The whole number of the stockholders
being the aggregate the owners OF the whole STOCK
or capital Of the Company it matters little to them a.
Vhs price the Company sells lite bonds to them, pro,
vided only that they be to each In the proportion oil
their respective interests and provided, also, that
thereby sufficient amount Of money is obtained 10
accomplish the object of the Company ia the compile
Ton Of It's work While, therefore, we consider these
bonds worth at least 80 cents ON the doNi YET 10
order to present motive to each io IaAs
lively interest In the operations OF the Company, we
uropoee TO give 10 each limited amount OF epresent
sue of bonds at 80 cent?, and also stock privilege,
Which it is estimated viii be clear bonus of Its en-
tire amount TO the holder
II as anticipated, the Land Fund should be sufficient
- nav the Bonds issued and in addition thereto refund
Me amount heretofore paid in Stock II folio We that
when the roads are completed the Stock Will DO In the
hands of the holders clear gain; or III other words
the Land Fund should pay all the cost OF the baildng
Of the road the Stockholders WIN be refunded ron
That source what they have paid IN Stock, and stu re-
main the owners Of the road Consequently, the To-
come from the earnings Of the Road shall be such as 70
make the Stock worth par or over the Shaes IN me
hands Of each will be to tnat amoant clear proht 70
The holder. And inasmuch each Stakeholder can
secure the benefit of the privileged Stock, by the pur-
chase OF Bonds at price below their actual value he
securesla material benefit without really dvestng him-
self Of any part of his capitals but on the contrary
can actually make sman advance IN tne "a sac .,
be derived from the Stock. The advantages howiog
from this operation viii be twoiold.
LIST To the Company as a whole by furnishing oil
the capital that win be required for its operations dur
ing the the ensuing year. and for The completion OIL inc
Western Division OF the road to La Crosse, and
% r. tha stock holders individually, bo.h in the