Proposition for the purchase of the Southern Railroad of the State.

The following proposition is most respectfully submitted to the Legislature of the state of Michigan:

The following named persons, with their associates, offer to purchase the Southern Railroad and Palmyra and Jacksonburg Branch on the terms herein specified:

1. The price offered is five hundred and fifty thousand dollars, payable in the State debt, according to the provisions of the Central Railroad Company's charter; ten thousand dollars in fifteen days, and ninety thousand dollars in ninety-three days from the passage of the bill accepting this proposition; and the remainder in five equal instalments, to be paid, one instalment annually from the end of said ninety-three days, interest at six per cent. on the whole amount unpaid, payable semi-annually from the time of taking possession, which shall be delivered on payment of one hundred thousand dollars.

2. This Southern Railroad Company to ave the privilege of making a connection with the Erie and Kalamazoo Railroad on such terms as may be agreed upon by and between the two companies; a copy of the terms of such agreement, signed by the officers of the respective companies, shall be filed in the office of the Secretary of State.

3. This company shall complete the Palmyra and Jacksonburg Railroad to Clinton, within twelve months from the time of taking possession of the road, and shall have power to resume the connection of this branch with the Erie and Kalamazoo Railroad, if that company shall consent.

4. Within five years this company shall complete said road to a point as far west as the meridian of Coldwater; and shall have the privilege of selecting their route westwardly of Hillsdale: Provided, That they shall not, at any place west of the meridian of Coldwater, establish the line of said road north of the line of the Southern Railroad as established by the State.

5. This company shall have all the privileges and franchises contained in the charter of the Central Railroad Company, so far as the difference of geographical position will permit, as well as such other, if any, as are contained in the bill reported to incorporate J. J. Godfroy and others, as the Southern Railroad Company with such amendments to said bill as may be necessary to carry out this proposition. The provisions in scc. 19, in said bill, for keeping the Railroad in condition for business from Monroe to Hillsdale, to be binding upon and assumed by this company.

This proposition is made by the following persons: Ira Bidwell, Elihue L. Clark, Addison J. Comstock, Edward H. Winans, Isaac French, George Crane, Daniel D. Sinclair, Langford G. Berry, William O. Howard, James W. King, Ambrose S. Berry, Alfred L. Millerd, Henry Hart, Filder S. Snow, and Danforth Keyes; who with their associates propose to purchase the road.

D. D. SINCLAIR, Agent.