New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-09-18
MICHIGAN SOUTHERN AND NORTHERN INDIAN
RAILROAD.

fhli4hOhD'
NEw.YoRK Wednesday, Sept l6 1857.
AT meeting Of the Board of Directors of this Com
parry, held this day at this Office
Present, Messrs. Ransom, Stryker, Edwin c. Itch
field. Morrison, Elisha c. Ltchfeld, Vermilye and
Keep
The following report was unanimously adopted and
ordered to be published:
GEO. II. FORD Secretary.
To the Stakeholder, Of the Michigan Southern and Aor'er" '
diana Railroad Company:
You have bee n called upon by us to meet at Adrian,
IN the State Michigan the 18th inst TO elect new Direct
, tine members the present Board having resigned to take
effect on that day In order that have before you the
proper data for such action may then deem necessary
We submit TO you herewith statement marked A. showing the
financial condition Of the Company as the same appears from
our books the let Of the present month In presenting this
statement deem proper to refer briefly to the condon
o the COMPANY, affairs from the time Of the )dation Of
tho Michigan Southern and Northern Indiana Railroad Com
papes into one corporation in April 1885, until we came into
Office in Mey, 1851.
II appesrs from the records Of this Company that the ih
Of MAY 1855 the Chief Engineer John b. Jerv esq sub
med report made up April 1855 in viii IN he estimated
A. Ce4 thc Of money thsi viii be required 20 be
expended complete the Jackson Branch and the Goshen OF
air line" On the 9Th May 1850 commite Of the Board
s.ng Of the President (Mt Wilkinson the Treasurer MG.
Edwin C. Lichfeld Messrs. Hamilton, White, Morgan
and S. John was appointed 10 ascertain and report
as prsc able the total amount Of additional means lover and
above present available Of the Company wheh viii
be required the floating debt and hnsh toe work Of con
.ucion sud to report the best method Of providing 'aca
additional means and plan T consolidating the entire H.
deLtedness OF the Company" ,..-..
,ncd into financial condition Of the Company at that time,
The Committee to the conclusion that SlGoO IA a4d
zion 10 the available then on hand woO be sufficient
Tor n. purposes and accordingly they submitted plan "nc1
@ oDds 10 the extent Of sscJoo Of which
10 be Issued only IN e1chanse the various
csse. OF bonds the Company then outstanding amounting
IN The aggregate that @ISVO were reserved Tor
double track and tie remaining 30 c were 70 be s3d by
he Conn
Speom prrtei works and pay it. Aoatins debt
enated that the bonds Would 9e a. east ~ g 'n1
and they would thus produce the required tor
these purposes Or the llh oei0oeI 10 the Cas s1slneeI
Mr.. JtT'is, submitted IeIpt rsAs.1s = $500 tas
az required complete the "oIs II progress on The lei
On tie iztG October 1885, the Company issued its Animal r.
port which ,outsined me zeiIa statement made up
Comrsp1 a h.t tine General Account to have be f
0rcIgdi1s Main Line Goshen Line, Jsk.oa Branch Erie
"-''e and Kalamszoo Roads
Equipment and steamboAts 49, -
Matenah %! ~
Stocks londs and mortgases'....'''''.'''' 7.15 3
S es iS blI and in the hand. Of cashier and
.''s'''''''''''''''''' -Si'iVo Il
Total........................ IA II
Capital stock: 80 a,
e,rre Of income sccouut.............. s7755 Is
T.l ......,............,,... -I5 2fsli II
q stsa,., Of the Company l~n Europe on ih Oct
ls5; ana with provide ne money required whou,
ling the stDckhJlGeEs
collation. BY him OF some OF US :. I'es "eI.
Of iOO were RENTED him IN esh 10 the Company
p,;,1 Cc, then assuming the estimates and the reports
.S.y 20 have been correct the funds pro-
S nS n,id mt the treasury finish all the works Of the
Comn,n, bich had been taken that date and TO
- t,,.iv ron is floating dbt II Il but justice how
rvr 20 our predecessors that the estimates upon which
Their sn.n PROVISIONS based were not verified b. the
reut, Prom various .sons the actGA cost oil the WORKS II
| pr gre exceeded the calculations 80,
sr,s-. fro orr books that from Oct 1855 70 Sept.
l. st there has been expended by th company upon the
lines embraced said estimate v ot NoIk soor
md nstes hc,ile %.53723 a or int-res,-hu' max ~
TOT of IN paid GccolEi OF "ork 10 progress Oct
SIS and xhi1b II va, esfimated wo@i D. Completed
sr S5I5 40 sine that time also works have been
| NeltSsrIl and nt,y e4pvulltures suthon-eG-
l adorable Of these mention. Two
.nts. hsve peer bct upon Lsse kreEv l-hor.
ned meeting II Board IN Serenee lSa Messrs WI
So f.vi. n t.r Stryker Edwin q Ltchneld EIshA G.
i,cheG HAn.ou White MoTg arc baron o-iIs present
the o,neI authorized meeting Of me sNecItve Connee
>eyient.r ls D, yo:e Al hesrs "AEIser s,Iyksr
~ LssE Wife M .ias C. L:Lss'd si''ss' &iHess "