New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-07-02
Total Corporate Stocks.

The balance is private stock, considerable amoum
of which is held in Germany, England and New'iosk'
but the largest amount held the line Of the road.
The fact that so large an amount OF the STOCK Oh INC
Company is held by municipal corporations, whose
constituents have the most direct interest IN the rosos
shows how strongly it is based in local wants, ana II
the confidence of those who will be its most vsuao'e
supporters.
The present funded debt secured upon the road
Real estate bonds the rosd........''.'" s,ooS
Toa.................... ........,....... $6sS.~S
The p,esent upfunded debt Of the road is between
81 100 OOO and 81 200 OO0 maturing during the present
anc several succeeding years, and subject TO conSa
erabe dminuton by bills and accounts due the Com
pany and other assets The total amount required 70
complete and equip the road at all points, according 70
the estimate of the Chief Engineer, is g. The
means of the Company for the completion OF the rosd
ard the payment Of its unfunded debt are:
First Mortsase Bonds Fort Wayne and Chicago Rail 49,
road os%st s.,. "S sonds Of the and Railroad
Company secured the Allegheny Bridge. now ,r,s.
Real Estsr Bonds scnrsd upon unsnambsrod real
estate not connected with the road :..".:.... Soo~
Ccnstruc,ien Bonds issued under the general mort.
ssse and now in market So 5000 lees $4,000 .u,
tnDsi c..h Stock Subscriptions, mostly Chicago
and stock ssresd to be taken by contractors about WV
The net earnings Of the road, which, il is believed,
will be equal, during the year commencing LIST July b
from $4,000 to 81 0O0, 900, will be applied to con-
struction and the payment of debts, until the cspts
of the company enlarged for those purposes, either
by the sale of the above securities now in market, or
by additional subscriptions TO capital stock. The poll
icy of the company is TO make the stock one OF per-
manebt value, ard they will, therefore, make no cash
dividend until the road is completed, and its unfunded
debt is paid As an asset for the redemption Of the
two Issues of real estate bonds amounting to $sis0OO
the company real estate outside OF the rosd,
worth at least 81 COO, which is held In trust by
Hugh McCullock, President Of the State Bank OF
JIdana with power to cell and apply or invest tho
proceeds for the redemption Of the real estate bonds
The rolling equipment of the road on lst March last
was: IS engines SO passenger cars II baggage cars,
543 freight cars li7 platform carr and cars.
and the equipment has been since considerably in
creased. The road, when completed will cost about
SIG 900 OOO and its revenue is estimated at 0OOO0o
per anBum.
The administration of the affairs Of the company
in the hands Of the following Directors and officers,
viz: Pennsylvania W. Cas-, Pittsburgh VIM.
Robinson, IT,, Pittsburgh; John Edgar Thompson,
Philadelphia; William Wade, Pittsburgh. Ohio
Charles T. Sherman, Mansfield; Charles n. RUSSELL
Massiop; John Larwil, Wooster. Robert Nelly
Upper Ssndufky. Indians-Samuel Hanna, Font
Wayne; William Williams Warsaw Joseph X. Edg-
erton. Fort Wayne A. L.. Wheeler, Plymouth. Ill-
nois-wilam b. Ogden, Chicago; John Evans, Chi
caeo Theodore T. Moran, Eew-York. Presidsnt-
GIo. w. CAss; yice-President, Joseph K. Edsert"u;
Treasurer, George Darse; Secretary asd AUDITOR
Thomas d. Messler; Chief Engineer, George W.
Leuffer; Superintendent. Joseph Ii. Moore Solicitor,
Charles T. Sherman.
AT the meeting Of the Board Of Directors OF tho
Michigan Southern Railroad Company, held thus
Afternoon Mr. j. NJ. Hopkins. former Secretary OF the
Company, was appointed Treasurer, end George d.
Ford as appointed Secretary. Both of these gen.
,lemen have been many years in the employment OF
the Company. Mr. Charles Minot, former Supsrn-
.pdent of tie Erie Railroad, was at the same time
appoint ed as the managing officer upon the line Of tho
cad, to reside at Chicago. The session was entirely
harmonious