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

breskwAter the ccnsrr lion of which secured rom tbs
city OF Chicago the right 20 operate by ccomo pc
the tracks In front tbs ely, the margin OF Lake
Michigan TO the mouth OF the river, tsus placing the
depot property at the outlet OF commerce. and AcAeat
TO the centre OF the business part of Chicago. Outside
the property conveyed by us To the Michigan Csn-
trA Company there are ~ of ground enclosed.
The first basin has O3o feet Of water front side
OF which Ii the freight depot, 582 By 100, aud
other the hrst gram depot 200 iett by 100. As the
business Of this snc otner roads is developed 1t pro-
posed TO lay out second bssn, and erect other grain
depots. Ihs first grain depot will contain SOC 600
bushels, and will readily elevate and from the
cars 70 vessels rs, COO bushels per day
This depot property in aoeiuon TO the requirements
this company, AFFORDS abundant SPACE to admit TIE
business of other and great Inducements for them
convenience double track has extended to C.u-
met fourteen miles. Also by arrangement entered
secured and laid across North stree ana tbs Chi
cago river connecting the tracks Of the Chicago AND Bur-
ington and Ga ena roads with the Illinois Central Rail
road, IT an outlay TO this company of $27, 900.
The rent thus secured gave net revenue in 1855 OF
$50 ga Al l0e or per cent $780, 900. 1t is anci
patsd rents the present will exceed 500
and In 1857 $3.50 600, per two miliens OF
dollars The connection referred TO with the Chicago
and Galena Road PROVIDES that a tbs through business
from places west If Freeport shall pass thu p.nys
depot which Is of great convenience to Passengers Aa
facilitates the transfer of freight East.
FUNDED DEBT
The funded debt consists of SIT 900 900 construct
bonds of which S75s, coo are unsold
There bonds secured by q mortgage on 2 600 600
Of land By the terms the mortgage thsr
issue If bOnds can be made this security Also, by
-
been already expenced and ON the stations depots and
other buildings.
The payment of interest is secured by the income of
the road by the proceeds Of the balance OF
OF land originally pledged for interest," and BY
on the STOCK.
Of tree land bonds have been issusd
BY mortgage Sf5 900 of lands, Of which
76,776 "a 0Co already under contract, at
average Of s 81 per acre, amounting, win interest," to
| $685., 43l e5.
The assessed stock of the company is held by 65
and so share has been assessed and
Additional equipment has been provided the past year.
(2l engines and 81 eArs making toe aggregate cost
81 ga 777 81 for 81 engines machinery tools and 49,
Mason.
| ENGAGEMENTS WITH OTHER ROADS.
To aid in and the construction OF the Mineral
Point Railroad leading into the mineral VISION
sim 81 miles in length the Illinois Contra and Galena
| Mineral FONT Railroad Company that upon cost OF
100000 allowing SO per cent gross earnings for
pendi lures an income OF per cent $50 900 psr
should be assured us constructors and allowed
to that company by discount Of 80 per cent upon all
busnsss 10 and from said Mineral Point Railroad over
10 miles the roads OF the first parties until the said
20 cent shs make deficiency Of the earnings
Of the Mineral Point Railroad to meet $50 600 per an
nam. 1t vil be that this Company assumes no liza
bty except that arising from business furnished BY toe
Mineral Point Railroad.
into with the Ohio and Mississippi road lay with
venient despatch third rai at the expense Of that
company from Sandova to 81. Louis to afford ntI-
% uge and to enable the Of tue company
TO ST. Louis without trAnshpmenr OF merchandise
the broad gauge q the Ohio Mississippi Railroad In
consideration o. their engagements his company agreed
| to loan 5000 O0O for two years upon hs .es OF
| the Ohio and Mississippi Railroad, secured by
laid but afterwards taken up order complete that
road to Vincennes The contract is h.resore void Oae
half the amount advanced has bsen adjusted and the
balance will be covered by he security.
The "Jolliet Cutoff leased by the Michigan Csn
ril company to secure continuous line rom ST. Louis
East. leads from Joliet to Lake Station, forty four
and half mills, and rent Of $50 600 per anuum ia
guaranteed OF which this corporation has Obligated ITSELF
the trains and bushes. 81 the CSearo Alton 'u and S.
Louis Railroad have been brought to the illinois Central
depot 1t Chicago. sfordirg TINS company vaiuabe
! revenue. There other Inducements which In
nuenced the leasing OF this road which will not probs
again be preente for the consideration of he company
The three cited All the engagements entered
! into with other companies.
| This company has with just consideration from
the citizens The Legislature and courts of nois and Il.
believed that the local feeling favorable to IL IN all
| parts of the State.
TIE elaborate statement Of the earnings Of the road for
1855 those Of the movements of and mercdan
disc hereto annexed, with the report of Col R. Mason
seturg forth the progress CT the country he first
tracsess pra les win be of csres. to ssocknoders and
II is conceived tina. careful scrutiny o. the results
already attsned and The consideration OF the effect not
only Ct the extraordinary land sales made By this cops
Dy, but OF the general immigration to Illinois, OF which
large soa-es drec ed TO the line Of this road will justify
tie belief that the ultimate value of the read for business
has pol been estimated and that Of its
reel estate its securities have reliance for the
ment Of the sccruing interest from the earnings of the
| rosd.
The liquidation of the bonds will commence next year.
10 which five millions of notes now possession of the
company, are appica BILE they may mature in the
respec i've years.
| The report OF the land Commissi ,ner herewith
SUBMITTED and examination OF the statistics of
the progress of the Try since It has been opened
by rsilroad con- muncsuon evidences the great
COST 81 III ns
free CT cost to the stockholders, the of this
great highway which unises he of The Northern
Lakes with those Of the Ohio aud Mississippi t. be
joined at Cairo by the MOBILE and Ohio Railroad, which
is making and substantial progress under admirable
management and will, when compisted form the great
avenue Of communication from the Northern States to
the important cities Of the Gulf of Mexico.
JehH y A. " ssssfora yso@.s E. w Walker
Jonathan Sturges Ebepezer Lane,
| Joseph W. AIsop, William a. Osborn,
Franklin Haven, Fred'k c. Gerhard,
| J. N A. Griswold Abram s. Hewitt
once of the Illinois Central Railroad Co March 1856.
The Milwaukee american OF the IA h inst. contains the
following correction of blunders made in previous
number Of that paper
OFFICE MILWAUKEE SUPERIOR RAILROAD Co. !
MILWAUKEE,. April H. 1856.
MEssRs EpToRs-Your comments Friday upon an arti-
Gle from the NEw YORK herald would Indicate that you
are not aware that entirely separate and disnst
organization from that OF the Green Bay, Awause and
Uhclgo Railroad exists Tor the construction of the road
nortbwardy by ths Lake Shore towns to Green Bay and
thence to Lake Superior.
The charter for the Milwaukee and Superior Railroad
Company granted this winter and the orgsnizstio
perfected the 9Th inst by the election or directors
and officers noted In your paper of the 7th inst.
The company ,seds all the rights and franchises
that the Green Bay, Milwaukee and Chicago Railroad
Company possesses north of Milwaukee, rming the
statement from tse NEW YORK HERALD
II Ia the design OF the Milwaukee and Superior Railroad
Company TO commence the Construction Of their road
this season. and to progress with 1t rapidly
can be provided for that puvpose.
believed that Nil wsuie is deeply interested in the
line contemplate by this charter for the purpose of
curing to herself the benefits to flow from direct
munication with the lumbsr regions in the vi:uity of
Green Bay ard the mineral regions Of Lake Superior
c. R ALTON, President N. h 8. R. R, Co.
he income OF the Cleveland and Pi.tsburg Railroad
for the year 1885, stated in Is annual report jus. pub
| lished, was follows:-
From passengers .............. $204, 041 "a
From freight $50 100 90
From mails, express, &c......... 2I,O37 40
- $751;, s'7 80
The current expenses for operating
and repairs Of road, repairs Of
equipment, &C. have been. $500, ses SO
And during the year the compa-
nv has Maid n account of