New-York tribune., 1881-09-13
RAILROAD INTERESTS.
DENVER AND RIO GRANDE EXCEssEs.
STATEMENT BY THE PRESIDENT OF THE CON-
PANY-THR ISSUE OF BONDS EXPLAINED


PANX-THK ISSUE OF BONDS EXPLAINED.
A communication was sent TO the Stool, Fx
cnange yesterday by the president OF the Denver and
- mo 1rande Railway Company. The president of the
otoch Exchange was compelled by its length to read
y asyhopsW "ft The statement in full is follows
10 me Prestdent or tte Neic- Fork SsocE Ercbqnge
.b DEAN SIR: An impression is sought be conveyed
b' n D9vlng out consolidated bonds of higher mum
Pay IA some way is chargeabe with irreguarity This
and through tho mining districts Of coorado "a any ~
connection with the Denver and Rio Grande Western
IN Nlab IN the early part of last wear ii had
Spcr SSp3ta @ 59a @ miles, b 1 hss pFaeoa completed
If.'- ,oii IA adunon to the said 1000 miles,
scy-,r,i ',Js ,E arc Under construction, on which
which the rails ties aud other mSeraIs si' aUe r0p
been contracted large part Of the expense of s re-
5Ae iensta OF extensions built with the aid OF
mileage Of the %u co, % , oe 80 mies ana he total
means er iis work provided by subscriptions 40 the
agreeing to pay up in instamens as roS,Ted by fbS
Mofh ana beng Quilted 10 receive their securities as
Nhen TINS general plan was adopted by the company
none none oi i4e consolidated bonds were listed the Ex
Sol9c l1dsi snnul application made the ad-
msslon OF the bonds then subscribed for So AZ 600
bnDds "a 1,it 1 s n'l19, lhe hslng or additional
tr,ted % - "ip1iod toF put lbe company tACn
cSc that no railway bonds should be listed after it's
oxcy ~ @ m ''ahs, actuaI$ completed road at the
u Ao Oh Course, al, Il tne Obligations ability
the mor@age expressly provided for the coun-
on 4''r y..a -n - acc "a LnsilY co4peted traoA,
Gated oi the WORK ac1uly done material furnished and
AMOUNT eApGnoed 0Le len o the mortgage attaching
company could not ulder the rule OF the Exchange
az once listed bonds 10 me subs .rhers W9ne
construction was Progressing. This, however was not
scrpons sne IN ToGi c I % & ae company co M IN tag sab
% Gt 70 py IoI larotd already completely and IN oper
iiad the company completed lines first out OF the
Oi oSher"ise AID ten issued It's bonds ard had
subscription plan; or II all the subsequent subscriptions
H Hs Dech originally contemplated and included IN
they could an have been admitted apparently under the
ali yb ,S .i0n sIoou however, The subscribers and
were informed OF the condition brought about by the
bonds would meanwhile remain unlisted aid w6is fhe
were equally secured Dy tne mortgage, and had been
VIII they would under Tie new rue, only have the aG-
Nauasc OF market the stock Exchange as me lines
shoH DC con pi' tel aud the higher nunDcrs admitted
il'e tnV3 codl De hOid as any other unlisted
Dcen for many months selling usually at a frac-
'l9H 9 'c' luan the quoted price for bonds listed.
od frst mortgage bonds into the consos, As aud when
sI0Io00O q lie o.I boa1 lave been cx i
Gona"lS ol reserved numbers which have since been
exception the company has Issued consolidated bond.
oAJ ior subscription, as above shown; and of course
John A. stewart ANA LOUIS H. Meyer, except in accord
ance with the mortgage Tor property air,d, under IL.
lien. Nhcn tLe remaining mirage subscribed for is
3"npet,d ad he remaining subscribed bonds issued
he toal couNdaed bonds except those issued now OF
hereafter against Old bonds canc.lled VIII De Tor ll25
81 - ~ 'o % an"nh FloCooOoo, Or the average rate
f" floy-o per nlie al new road. Whereas, undcr the
terms OF the mortgage tue company issue on ac-
old road SI5SI750t r. m is nlos Eheiuding the
amount ana tie $3.50 900 wit - 057 300 NAV be
puposeS OF new tracks and other betteunents ON op-
AZ lr - The company concerned IL would bc pleased
10 nave al the bonds Issued 10 subscribers listed M
once at the Exchange, bal this being mosDc lrhcr
IpAcauon Wlu bc made 10 list bonds a. soon s a roaud
amount of - 0UoC0U can bc admitted. which requires
iVo- HlIeS u al 10 be completed Yours respcctuy,
WILLIAM j. PALMER, President.