Daily Republican., 1881-05-03
PENNSYLTlNIlCOMPiNY.
Issue of $IO,OOO,OOO
In Ia per cent. Forty Year
FIRST MORTGAGE GOLD BONDS,
Under the Absolute Guarantee Of the
RAILROAD
COMPANY.
Coupon or Registered, free from National
and State Taxes.

The Pennsylvania Company is a corpora
ton chartered In 1870 for the purpose Of op
Grating, managing and developing the rail
ways west of littsburg controlled by the
Pennsylvania Railroad Company.
10 provide means for the requirement o
additional property and the further develop
ment OF the Pennsylvania Railroad C0mpa.
ny's system, the Pennsylvania Company has
decided to create First Mortgage 10 secure
| bonds to the amount Of 81, 900, 900 of VIII ich
the present issue forms part, bearing interest
at the rate OF ~ per cent. pei annum, paya.
bic January and July |, the principal ma
| turing in 1921, and both principal an inter.
est payable in Gold, in the city of New York.
from National and state Taxes
lhe bonds are issued in denomination of
Sl,mO each and EVERY BOND HAS IN
| DORSED THEREON THE ABSOLUTE
| IGuARANTEEUFTHEPENNSYLVANIA
RAiLRoAD COMPANY FOR INTEREST
AND PRINCIPAL.
The total authorized issue ls further secured
| 10y mortgage as first charge upon
| LIST. The leases for g)a years held hy the
Pennsylvania company, Of the pittshurg
Fort Wayne and Chlcngs the Cleveland and
l'ttsburA, and the Erie and the pittshurg
Railways. THESE LEASES ALONE have
from the twelve years from their date to De
cember 81, 1850, yielded an average yearly
net profit to the Pennsylvania Company eX
cccding one million dollars, which sum is
more than double the entire annual interest
nn the 100000 Bonds at present to be is
sued.
ID. The company's valuable real estate in
the cities Of littsburg, Allegheny and Chica.
20, and stocks and bonds ia its treasury, to
the par value Of about 2i0010oO being
mainly securities Of lines forming part Of the
Pennsylvania system,
The company further agrees (the perform.
anccs OF which agreement is likewise guar.
antced by the Pennsylvania Railroad Com.
phny) to purchase in every year in which
bonds Of this issue are offered at a price not
above par bonds equal to | Der cent. on the |
then outstanding issue Of said bonds, and the |
annual interest upon such bonds as shall |
have been before that time purchased, with |
said fund--a provision which should at all |
times protect the price of the bonds against |
any material decline below the issue price |
Tho PchnsylyMla Company has no other |
debts except S., eOl 900 in dehcuturcs, secured |
by deposit Of a. .0dN,0 ,000 Of the Pittsburx.
Fort Wayne and Chicago Railway stock (part |
OF the securities enumerated above, and its
l0nded deb; cannot under the law be in.
creased hey, nd the amount Of its full paid
capital stock, which at present is $2O. OO0, 900.
exclusively oN ned by the Pennsylvania Rail.
road Compan,.
The railway operated directly orlndlrectly
by the Penn ylvania Company comprise n
systcm OF 3,3 4 miles. and the NET EARN.
lNGS Of tha company for the year 1850 af.
ter the pa!m Mt Of all fixed charges, amour.
ted 10 AZ OIL 3g6 S5
Those Of the Pennsylvania Rail
road CoupaI on its lines east
ofl'ittsbrr b. after aymcntof
all lGcd charges, t............ 1855, 500 0l