The Saline County journal. [volume] (Salina, Kan.) 1871-1893, 1875-05-06
Ebe Kansas Pacific and Union Pacific AgrC
meat


meat.
The following are the published terms
of the agreement Between tho Kansas
Pacific and Union Pacific Companies
which has lately been made:
THE AGREEMENT.
It is agreed between the Union Pa
cic Railroad Company as follows:
|. The said Kansas Pacific Railway
Company, incorporated under the laws
of Kansas, and the Colorado Central
Railway Company, incorporated under
the laws of Colorado, shall be consol-
idated under the name OF the Kansas
Pacific Railway Company, with capt.
tai of $40, 100000, and all necessary
and proper steps shall be taken TO effect
such consolidation in due and proper
form, in accordance with the laws gov
erning such corporations, and :he par
ties hereto agree TO do all in their power
to aid and effect the same.
,. OF the said consolidated capital
stock Sl0,000,000 par shall be issued
10 parties 10 be designated by the Union
Pacific Railroad Company, and thrcre-
UPON I'LL outstanding vi NV HAONN
Of the Colorado Central shat, be sur
rendered and Cancelled, and the residue
OF said consolidated stock shall be Is
sued to the Kansas Pacific Railway
Company, party hereto. TO be dlstrlbut-
ed in exchange among lis stockholders.
). The consolidated company shall
Issue its coupon mortgage bonds 10 the
amount of 100000, having thirty
years 10 run, and bearing seven per
cent. interest, the principal and interest
payable in lawful money of the United
States, in the city OF New York, which
said bonds shall also be secured by q
marriage 10 a trustee or trustee, TO be
agreed upon, and such bonds and mort
gage TO contain such clauses and proyis-
ions as may be determined by the con-
solidatcd company, and said mortgage
shall be subject TO the existing mortgage
on the Colorado Central, and 10 the eX-
isting mortgage on the Kansas Pacific
Railroad, and such consolidated mort
gage shall not however, include any OF
the lands of tho said last mentioned
Railway Company, lying between the
393d and the 404th mile posts on the line
OF said road, which said lands shall tie
excepted from such mortgage.
{ OF said S5,000,000 OF bonds, ST.
100000 shall be used by tho Kansas
Pacific Railway Company Consolida-
ted in retiring the outstanding income
bonds of the original Kansas Pacific
Railway Company ~ the rate of not
more than thirty per cent. Of their face,
exclusive Of interest, and 1925, 0tO, CT
thcrea5outs, of said consolidated bonds
shall be applied by the Kansas Paci1C
Railway Company Consolidated TO re-
tire, either bv ex, hange or otherwise,
that amount OF sn issue Of 81, l25, geo
of outstanding bonds issued by the Ar.
kansas Valley Railway Company, held
by parties other than the Kansas Pacit-
ic Hallway Company, who hold The resi-
due OF said issue.
). Of said $4,000, GOO OF bonds there
shall be issued TO the Union Pacific
Railroad Company bonds not exceed
ing 81 500. coo, which shall be used in
cxiinguisbing the indebtedness Of the
Colorado Central Railway Company !;
aud the Union Pacific Railroad Com
pany agree. tina, the said last named
company when consolidated, shall be
free from indebtedness, except iis iauded
debt, which does not exceed s..
g. The residue Of the said 5000. ESQ
bonds rot used and applied
~ before mentioned, shall remain ia the
treasury c; the consolidated company,
and from apart 81 SIS assets ard proper
IL, ard shall. he ased - far AZ T'ossItis
H. rsSs n ari retire s7'-S GOO rf trst