The Tiffin tribune. (Tiffin, Ohio) 1868-1887, 1869-05-20

For approximation and hnllRNtiug....... 81, Coz
For wnter staiiOua aud sundty thcidCn-
tala '''s''s. i0l, 90
itJs 90,
The means relied upon consists OF
a cash local subscription OF $500. 600
and tho issue of 81 200, 900 Of First
Mortgage Bonds.
Wo have assurances from substan
tial capitalists in New York that
these bonds can bo sold at the usual
favorable rates, upon the amount OF
basis above mentioned.
AS necessary preliminary step,
tho people of Tillin subscribed $780,
600 to tho capital stock, and organ. .
ICED the company, by elocting a Board
Of Directors, with l.. A. Hall for
President aud myself Chief Eugin.
eor.
They have allotted to each town
and neighborhood along the line an
amount Of stock to be taken by each
in order to aggregate $500, 900; aud
most Of the points have now made up,
or nearly made up, their quota.
The amount assessed Toledo is
$500 900, aud as no further progress
can be safely made until il shall be
secured, we como TO you in the conf
dent expectation that you will cor
daily and promptly join in the en-.
terprise.
The policy Of the Board is to run
no risks-no work will bo put under
contract until tho money for tho
whole is provided--no bonds will be
prepared until the local subscriptions
arc complete.
IL is intended the stock in this com.
pany shall be aproftable Investment,
and the character of the Road shall
be credit to its projectors.
lts position in the not work Of rail.
rouds is such as forever to enjoy a
large aud increasing traffic, With
Toledo for its terminus, a city soon
to contain 100000 inhabitants, and
they to become great manufacturing
population, it points directly to Phil>
adelphia, Baltimore aud Washington
City.
AS ronte to New York il will be
second to none, present or prospec-
tive, A comparison Of distances may
bo hero properly introduced to cor
rect the general opiuiou Ia f@or OF
the route via Dunkirk
Toi,.Io q, Nam Val 81, ptt,.a,,.
IOlcdo 10 "a niles,
Orrstine TO Plit-hurE ..,..,...,.....,lSa
Ptlhourgto New York, VIA Allentown iSi
Totah"...,....... ...,., ,,,.,.,,,,,,,,,G ,G9l miles
Toledo to New York. via Dunkuk.
IHleuo :" cleveland; emilcs
Cleveland to - .... ..,,,lta
Dunhitk TO New lork.,.,",.,...,,."-,..".t60 "
Totaly.,...-..,.,,....,.,,, ...,..1i5 milei
Toledo TO New York, Via broad Gusgc,
Toledo 10 Cleveland ..',. ..,...... .,...as miles
Nle(eland 10 SAlamAncA,, ,, ,,.,,.,.,.,.,,,,.eth
SlAmanea TO New Tork.",....,...,,,.,,,.-.1it
Iotds,,,,,,,,,,..,,,.,,,..., miles
This route from Toledo to Pitts
burg and New York, must always pos
sess the advantage of less snow il
winter and coal as a cheaper fuel.
After comparison Of the gIosS re-
ceipts on most of the roads 10 Ohio, n,
one has yet estimated that our roa,
would receive less than $4,000 pc
mile per aunum;
This estimate on IS mpes i,,SiSo,ooo
| Allow 90 per cent, for ufk-
Leaves net proat 40 per cent Aiso 90,
Deduct Interest on si;2o9Ooo
10, :. so
sai,oO
| $500
Leaves a ns, profit OF sac, 900 to be an
lied as dividends on $500 600 stock, helm
over II per eeat per rennnm.
You will have noticed that no estimat
is made Ter rolling stock and machine shop.
for the reason that tho Pittsburg, ~. wayn
and Chicago Railroad Company will lens
tho road, put on the rolling stock, keep
in repairs for a period OF years, and ailo ,
forty percent OF the gross receipts f5t N
use.
tis proposed to close ,his lease A. ono,
AZ In their hands Il WILL be tar more attrae
tive to The public, aud command more hns
ness than IL fretained aud run by this com
pany.
As my individual opinion, feel safe {
asserting belief that the earnings OF IN
road will be more than double the amoun
heretofore stated. Fops hundred tons {
coal per day Is not large receipt in Oleve
land now, and your city, asa manuiae,ur
ing point and coal market eau very coon n
sai Cleveland, II coal OF equal quality can b
Land down as cheaply.
In the corner of Holmes County, ll2 mile
from Toledo by this Road. is = coal feld coz
tanning four VEINS in all lsi feet thick, q
over 10000 lonos available coal to'eaeh aer,
one We Is peculiarly good for smith forg
ing, another for iron furnaces, 10 be use
"nw,' aud another exeels for gas aud gen
erating steam, while fourth vein is the ca
mel coal. This amount Of coal traffic won't
lfurnisL over 100000 per year to this road