New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1858-01-06

Holders Of the unsecured bonds, extension certif-
caes and preferred stock of the Harlem Railroad Com
paby should be looking after their interests Their
indifference to the progress of the aid now asked ior
by the Company may result in the loss Of their whole
investment. Upon the failure of the Company to pro-
vide for any Of the acceptances Endorsed oy MI
Vanderbilt his mortgage becomes at once due, and he
takes possession of the whole property not covered by
the first or second mortgage. The Company ask for
subscription Of million Of dollars for clearing of the
floating debt of $50, OOO The following is the propo
ston Of the Company:
NEw-YoRK AND HARLEM RAILROAD CoMPASY-
Proposals FOR LoAy.-ln order to fund the foat-
ing debt of this Company, amounting to nearly $1JO
600 new issue of Mortgage Bonds, to the extent Of
one million dollars, has been decided on by the Board
of Directors the best mode of redeeming the Com
pany from the embarrassments under which It labors
by reason Of the high rates of interest paid upon this
debt. ,
subscriptions are accordingly invited from all hold
ers Of the secur les and stock of this Company for the
purchase Of the bonds thus TO be issued redeemabe IN
len years and bearing seven per cent interest, paya
bic semi-annuay.
To give the holders of unsecured bonds and out
standing extension certificates the preference M this
loan, subscriptions though solicited from all, VIII take
precedence in the following order:
First Preference To holders Of the unsecured Bonds
of the Company redeenabe in 1888, 1853, 1901, 1907
ard 1872.
Third: To the holders of Preferred Stock.
Payments to BIZ made as follows: Forty per cent in
cash and sixty per cent at par in the aforementioned
unsecured bonds extension certificates, or preferred
stock at any time before the 18th day OF January next
Any of the liabilities or acceptances OF the COMPANY
which duo, aud constituting part W the noatihS
debt, to be received as cash.
These bonds will be secured by mortgage on the
whole road its franchises real estate and rolling stock
subject to the first and second mortgages already
huff m herein provided a
first lien upon extension certificates TO the amount of
81 2i 600 issued for the construction OF % miles OF
the road from Dover Plains TO Chatham, which certi-
fcaes now hypOtlecdted as security tor the floating
debt are 10 be redeemed by the proceeds of this loan.
A. further security to the purchasers OF the new
bonds it is intended that $4,000 year shall he set
aside provided that is earned over and above ex-
penses and INTEREST," and employed 10 purchase In the
market each year the bonds of this issue-such bonds
so purchased TO be Immediately Cancelled.
Persons wishing subscribe TO this loan. or who are
Interested in the bonds stock of the Company are
referred to the Company Office, No 33 Pine street,
where a Committee OF the Directors will be III attend
ance daily from II 10 p m to give all required IN
formation respecting the terms OF the loan and the
condition Of the Company.
Dec. 4 ,s57 ALLAN CAMPBELL President
This will give the Company $4OO, 900 in money, and
the remainder of the $780, 600 will be raised from other
assets in their possession. The business of the road
has suffered this Winter in common with that OF all
railroads. but the economies which have been intro
duced under the able and practical administration of
Mr.. Campbell are than equivalent to this loss
The service has been reduced 700 miles per day.
Salaries have been cut down and the closest scrutiny
of all expenditures introduced. The consequence has
been that although in November the gross earnings
were 10000 less than in November 1856, the net
earnings 600 greater.
The following table of the railroad lines in the United
States is compiled from The american Roilray GUIDE:
Total number Of roads in the 81 4