New-York tribune., 1874-04-06
same interest that he would be entitled TO receive on
the corresponding coupon of the Income Bonds.
This proposition may be more Ineligible if stated as
folIowa.

interest that he would be entitled 10 receive on
the corresponding coupon Of the Income Bonds.
This proposition may bemore Ineligible if stated as
follows:
Income bonds will draw as interest on the 1st
Sinking Fund Bonds will draw as interest on
lne Ist ol September ......................... MO
Cash difference to be paid at date Of exchange. $40
Certificates for fractions will be issued, redeema-
BILE in Sinking Fund Bonds with September cou-
pom on) when presented in multiples of five. The
holder Of one Income Bond will receive one Sinking
Fund Bond, scrip for one-fifth of another Sinking
Fund Bond, and two dollars in currency at time of
exchange. From this statement owners Of any
number, more or less than five, can readily calculate
what they will receive by the exchange.
The Directors consider the new Sinking Fund
Bond so desirable in point of security rate of inter-
est. and possibility of early redemption at par
through purchases for the Sinking Fund that they
have already exchanged the large amount of In
comes which they personally owned on these terms.
These exchanges, in conjunction with those of
other large holders, amount to nearly three millions
These terms will remain open for acceptance until
otherwise ordered by the Company. The earnings
of the road for the past four years have been:
1870. 1871.
Earnings. ....... 81 625.27 II S1.52l ,GS2 is
Expenses. 4677414 81 3.600566 SO
Net..............s29 .s29l7,s6s 27 s8,92l,ll5 80
repsn pssceh.age m FaGdid OF En- el s41Oo S7-1oo
1872: 1873.
Earnings. ,S92 COS SO S10,2G6,l03 CO
Expenses. 4,8O0573 48 4,94,S6l OF
Net aOS2 O5 S5,29l,9 "a
naPsr Percentags TaGd;I Of Ea- 5S9s1Oo 4s 6-1OO
ANNUAL INTEREST ON PRESENT BONDED DEBT.
First Mortgage Bonds. E. 81, ,6Si. .220 Gold.
Land Grant BOnds....... 5S9,6D Currency.
Income BOnds........-... lOO,WO currency.
The earnings of Omaha Bridge and interest on
Omaha Bridge Bonds are not included in this state
ment.
Very satisfactory progress is being made toward
the extinction of the Land Grant Bonds. The
cnues of the Land Department in 1873 sufficient
to redeem twelve hundred and ffty-five bonds at
their present market value. The number of these
Bonds outstanding on the 1st Of March was eight
thousand five hundred and sixty-six On the 2Sth
of February the Land Department held settlers
Understanding notes to the amount of 81 0G,
Cash assets i'll hands of Trustees on same date.
Sl92,G2S 49,
Copies of circulars relative to terms Of Exchange
of Bonds can be had on application.
MORTON, BLISS & Co.,
Financial Agents Union Pacific X. r. Co.
New-York, April 4, 1874
NEw-YoRK AND OswEGO MIDLAND RAILROAD
COMPANY.
First Mortgage Bondholders are requested to de-
pOst their bonds with the Farmers Loan aud Trust
Company prior to the 18th April, aud receive in ex-
change Trust Certificates emitting them TO repre-
sentaion by the Committee Of the United Foreign
and Resident First Mortgage Bondholders. For
further particulars apply to
HEIDELBACH. FRANK & Co,
Bankers No. 81 Exchange-place New-York.
THE RATE OF INTEREST FOR MONEY is always an
important subject to both borrower and lender. An
able and suggestive essay this topic by Prof. L.
b. Elliott of the Treasury Department. read at the
Portland Scientific Meeting, is reported fully In
TRIBUNE LECTURE EXTRA No 10. Price ID cents.
Address The TRIBUNE New-foTk.