The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1856-04-18
lars. without any available assets to meet it.

=.
except the surplus earnings of the Road, after
paying expenses and interest on the bonds, all
of which ought justly to be expended on the
same during the present season, and feeling
anxious to pay off these debts with as little
delay as possible, have felt constrained to re-
sort to some special measure to accomplish this
object And believing that furtherissue and
sale of bonds would do SO ut an early day, they
passed an order directing the President to
cause Il number, to the amount of three hun
bred thousand dollars, to be prepared ready
for sale, bearing interest at the rate of ten per
cent. per annum, payable in five years from
date ut the office of the Company at Evans
VILE They also ordered the President to eX
ecute or mortgage Subject to the prior mort
gage,) upon the whole road and equipments,
between Evansville and Terre Haute inclusive,
to secure the payment ofthe interest and prin-
cipal of said bonds when due.
The mortgage has been executed to Chaun-
cey Rose, OF Terre Haute, and John Ross, of
Vincennes, as Trustees; to secure this issue of
bonds, and placed upon the Records of the sew
eral counties, along the line Of the Road from
Evansville to Terre Haute. And the bonds
have been prepared, and are dated on the 18th
day of March, 1885, payable in five years from
date with interest, coupons attached, payable
semi annually on the first days of March and
September, in each year, at the office of the
Company at Evansville, until the principal
shall be paid.
Five hundred of these Bonds are of the de-,
nomination of one hundred dollars each, nla-
king $4,000; and five hundred of the denCm-
ination of five hundred dollars each, making
S25OOO0.
They are an undoubted security, and it is
expected that they will be promptly taken at
lhome by the stockholders and others inter-
ested in tho success of the Road, to the extent
which it may be desirable to dispose Of them
at present.
1t is not expected that,an amount of these
bonds exceeding $4,000 will be sold. This
amount will enable us to pay off the floating
debt, purchase additional machinery, and erect
such necessary buildings as will enable us to
operate the Road economically and success
fully. a...ss
The present bonded delt of the Company
is one million and ninety thousand dollars, the
! intereston which is payable semi-annually IN
the city of New York, at the rate ofsev per
cent per annum, making $4,000. The re-
Iceipts of the Road for six months, ending the
18th ofFebruary, as shown above, were $1l5,-
857 IS, and estimating the earnings of the
next six months at The same ratio, would
make the receipts for the present year 1921,
ia SO; and estimating 40 per cent on this
sum for expenses and repairs, would leave a
balance of $50, 726 OF, as net earnings--equal
to IL per cent on the stock of the Company
In view of these facts, and the largely IN
crcasing business of the Road we hope that
the stockholders, and others interested in the
success of the enterprise, will come forward
promptly and take sufficient amount of the
Bonds to enable us to pay off the floating debt
at once and, during the season, such further
sum as will be required to supply all facilities
for the convenient and economical operations
: of our business. This being accomplished We
, hase the assurance, in the experience of the
past year. that in the next and after years W.
shall be able, from our earnings, to pay semi
annual cash dividends on ourstock. 3 &
w. d. GRISWOLD President.
; March Is, 1856. so1 @TE