Morning journal and courier., 1881-06-20

These Bonds issued to provide for the extension 5s miles further north, to connection ther with the Grand Trunk Ha way, and to afford that Railway and extension is nearly completed, and viii be open Sept. l, forming line of s4 miles rom Toledo to Pcnttac on which these bonds are first mortgage.
 THE EARNINGS.
 The gross earnings expenses and net earnings of the Division from Toledo to Ann Arbor. 46 miles, for the last three months were as follows: On 46 Miles. Earnings. Expenses Net Mar rh.............-...$11, h.. ,487 S5.21o s6.277 MaH APE1i' 1s se6d 6d 6'5oo 'o S's90 Net earnings for the last three months SIS e75 The net earnings for the year at this rate would Interest on bonds at si5ooo per mile for 46 The present net earnings 46 miles already suci nt for the interest charges the whole issue of 26o first mortgage bonds that without any increase from the at1on of the extension to Pon tiac the inter the bonds is assured The bonds however, cover 38 additional miles Cf line, that will be extremely productive, from the valuable connec- If the earnings upon whole line be at same rate while the interest charges are only It is be- neved the earnings will increase in 8 large ratio. THE CONNECTIONS.
 Seven Railroads centre i'm Toledo, from Indiana and Ohio. The Toledo, Ann Arbor and Grand Trunk Railway. running northerly from To- railroads north of Toledo.
 At Milan, s2 miles from Toledo, connection is
 
 which route Is but k miles longer than the De- troit River line. This route is now used by the Wabash line for a large traffic between To- ledo and Detroit.
 At outh Lyons, Is miles north of Ann Arbor, con- nection will be made his month with the Detroit Lansing and Great Northern Railroad, the great lum Der road of Michig This connection " ill afford great traffic to Toledo.
 At Wixom, 24 miles north of Ann Arbor connection will be made with the Flint and Pere Marquette road.
 It's completion will give the '.Ann Arbor" route the importance of Through Line' for business that the Grand Trunk hitherto shut from that quarter will be able reach over it. via Toledo from seven lines of Railway centeriLg there from the South. The Crank Trunk Road of Canada has long aimed to reach Toledo.
 BOTH GENERAL AND LOCAL TRAFFIC.
 of the most fertile and thickly popula ted portions of Michigan, will have local busi- ness second to none in the State.
 The Ann Arbor Line by saving distance, will cure a large southeastwsrd traffic, and by it's adyan- taqes Toledo 1t is assured of large profitable northwestward traffic, which insures productive hauls both ways and consequent large net earnings on gross traffic.
 TERMS OF SUBSCRIPTION.
 The undersigned are now ready recei, subscrip- tions for the Bonds at 1O2H and accrued intere Ten per cent of the amount taken will payable at the time of subscription. Subscribers will have the option, July 1884, of paying in full or in five month y instalments The right is reserved to the price without notice Interest will be allowed all deposits made account of subscriptions at the rate of per cent. per annum. Pamphlet with map furnished on application. Subscriptions for S0,000 under will be filled before other allotments are