Morning journal and courier., 1881-06-21

Io|eoo, Ann All Afoof
 Grand Trunk By. First Mortgage 6 Per Cent.
 FOrty-Hear Gold Bonds Total Issue = SI,26O, 900. Interest payable Jan. l and July l, in New York.
 PRINCIPAL DUE JAN. 1, 1921. Issued at Rate of $I5,00O per Mile.
 These Bonds issued 10 provide for the extension of the Toledo and Ann Arbor line, to Pontiac Mich, a8 miles further north to connection ther with the Grand Trunk ai way and to afford that Railway and various inters-cted lines outlet to Toledo This extension is nearly completed, and will be open Sept. l, forming line of 84 miles Toledo to Pontiac, on which these bonds are first mortgage. THE EARNINGS.
 the Division from Toledo to Ann Arbor 46 miles, the last three months were follows: On 46 Niles. Earnings Expenses Net Mar h.. .S11.48 $5,21O $6,277 April 12,45l -6,5O0 6,89O May 13,5O0 1000 6,5O0 Net earnings for the last three months s1s, ,e75 The net earnings for the year at this rate would
 Interest on bonds at si5,Ooo per mile for 46 '''' miles is only A,4OO The present net earnings on 46 miles already su1ci mt harges on the whole issue of first mortgage bonds that without any
 tac the inter the bonds is assured The bonds, however, 3s additional miles If line that vii 1 tions secured.
 If the earnings upon the whole line be at same rate
 while the interest charges only s75OOO It is be. heyed the earnings will increase in 8 large ratio THE CONNECTIONS. Seven Railroads centre i'm Toledo. frorr Indiana and Ohio. The Toledo, Ann Arbor and Grand Trunk Railway, running northerly from To ledo, intersects and connects with nine ! At Milan, S2 miles from Toledo, connection is now made with the Wabash ailroad for Detroit which route is but x miles longer than the De- troit River line This route Is now used by the Wabash line for a large traffic between To,
 Al outh Lyons, Is miles north of Ann Arbor, con- nection will be made this month with the Detroit,
 Lansing and Great Northern Railroad, the great lu
 road of Michigan This connection VI i'll afford great tr fife 10 Toledo.
 At Wixom 4 miles north of Ann Arbor connection will be made with the lint and Pere Marquette
 Its completion will give the "Ann Arbor route the importance of Through Line" for business that
 the Grand Trunk hitherto shut of from that quarter win he able reach over it. via Toledo from seven lines of Railway centerihg there from the South. The Crank Trunk Road of Canada has long aimed to reach Toledo.
 BOTH GENERAL. AND LOCAL TRAFFIC. The Toledo Ann Arbor and Grand Trunk Railway
 trayerses one of the most fertile and thickly popua
 ted portions of Michigan, ard will have local busi- ness second to none in the State.
 The Ann Arbor Line, by saving distance, will Sc
 cure large southeastward traffic, and, by it's advAn-
 Toledo it is assured of large and profitable
 northwestward traffic which insures productive hauls l both ways, and consequent large net earnings on gross trafic.
 TERMS OF SUBSCRIPTION. The undersigned ready to recei' subscrip- tions for the Bonds at lO2 and accrued interest.
 Ten per cent of amount taken will be payable at the time of subscription Subscribers will have the
 option July 1884, paying in full CT in five month
 y The right is reserved to advance the
 without notice Interest will be allowed on all deposits made account of subscriptions. at the | rate of per cent per annum- Pamphlet with map
 furnished application. Subscriptions for sl0Ooe
 or under will De dlled before other allotments are made.
 ANTHONY, POOR & 0LPhANT, No. 45 Wall Street,
 jezost NEW YORK.