Morning journal and courier., 1881-06-22

Toledo, Ann A. Arbof
 Grand Trunk By. First Mortgage 6 Per Cent.
 Forty-aear Gold Bonds Total Hssue -- $s, s,2GO,OOO. Interest psyable Jan. an" July H. ih
 New York.
 PRINCIPAL DUE JAN. 1, s921. Issued at Rate of $l5,0O0 per mi!e.
 Thess Bonds are issued O provide for the extension of the role1 1o and Ann Arbor ine, to Pontiac, Mich,
 mss further north, to connecIion tner "l.n .ns
 Irand Trunk way. and to aftord that Hallway ana vsrions inters rtet lines outlet to Toledo This extension is now arIy completed and will De open Pontiac on which these bonds are first mortgage. THE EARNINGS. rboa-,zs earnings expenses and net earnings of the Div from Toledo to Ann Arbor 4o miles, 1'r the last three months were ss follows:
 On 46 Mics Earnings n Expenses 51a .e Net Net MT h--....- -hId,4o e'soo oao apEli' l35OO 1000 $500 Net earnings for the last three months .s6, The net earnings for the year at tht rate would ooo Interest on bonds at $15,OOO per mile for 4s miles is only -..--! 4ifzo0 The present net earnings 46 miles are already
 4 IT aso % first mortgage bonds so that without any from the ope stion of inc e1tensl0h 70 lac the iuter St the londs Is assured ine ponds additional miles i line, tQAt VIII extremely productive, from the Valusoie oonneo tions secured ,, ,.t. as on Al miles. he net earnings vii be $iS. oV,'
 hie the interest ohargsn @ are Sng i sras ratio THE CONNECTIONS. Seven Railroads centre i'm Toledo. from Grand Trunk Railway. running northeriy rom 10, ledo inrtrsecss and connects with n1ne .4 ss;ian a5 miles from Toledo connection is nov, made with the Wabash ailroad for Detroit, ubicb route but < mules longe' than the De- toit River line This route is now used by the Wa aba .ine for a large traffic between To-
 Al ontb lyons Is miles north of Ann Arbor, con- nection ill be made his month with the Detroit' Iansipg and Great Northern Railroad the great lnfa La, na5 of Nichig n This connection iiI affOs d great a fife 50 T''etio. At Wixou 24 miles north of Ann Arb0r, connection will be made with the lint and Pere Marquette road .h. importance of Through Line" for businees that
 he Grand Trunk hitherto shut of from hat quarter able reach over 1CleOO from ~sfsn lines of Railway centeriLg there from the south. The Crank Trunk Road of Canada has long aimed to reach toledo
 ROTH GENERAL AND LOCAL TRAFFIC.
 The Toledo Ann Arbor and Grand Trunk Railway of the most er,e ana tnieky ocp bns ness second none in the State
 The Ann arbor Line. by saving distance, Will SC cure large southeastwsrd trafnc and, by its ady.n taoes in Toledo assured of large and prchtaoe northvestyard traffic which insures productive hauls both ways and consequent large net earnings on gross traffic.
 TERMS OF SUBSCRIPTION. The undersigned ready to recei' subscr1p- tons for the Bonds at 1O21s and accrued inte, est Ten per cent the amount taken will be payable at the time subscription Subscribers will have the option July lss1 of payi in full or in five month Iy irsaImenfs The right is reserved to advance the price without noti e. Interest will be allowed on a deposits made account of subscriptions as Ine rate ofF per cent per apnuIn Pamphl-t with MsL furnished application. Subscriptions for sto"Ve or undsr will be nlled before other aIOtnenfs are made
 aaTHOaY, POOR & 0LIPHANT,
 No. 45 Wall Street, ieaos St NEW YORK.