Daily Republican., 1881-05-02
NEW ADVERTISEMENTS.
PENNSYLV iNIlCOMPIW.
Issue Of $IO,ooo,OOo
In A Leg per cent. Forty Year
FIRST MORTGAGE GOLD BONDS.
Under the Absolute Guarantee of the
PENNSYLVANIA
RAILROAD
COMPANY.
Coupon or Registered, free from National
and State Taxes.

The Pennsylvania Company is a corpora
ton char cred in 1870 for the purpose Of Op-
Grating. managing and developing the rail-
ways west of lrttsturg controlled by the
Pennsylvania Railroad Company.
70 provide means for the requirement of
additional property and the further develop-
ment of the Pennsylvania Railroad COmpa-
ny's system, the Pennsylvania Company has
decided to create First Mortgage to secure
Bonds to the amount of $20.o00, O00 Of VIII ieh
the present issue forms part, bearing interest
at the rate of A.? per cent. pei annum. paya-
bic January and July |, the principal ma
turing in 1871. and both principal an inter
est payable in Gold. in the city OF New York,
from National and State Taxes.
The Bonds are issued in denomination of
81. 600 each and EVERY BOND HAS IN
DORSED THEREON THE ABSOLUTE
NEUTRALITY-SUSPICIOUS.
RAILROAD COMPANY FOR INTEREST
AND PRINCIPAL.
The total authorized issue is further secured
by mort gage as first charge upon.
lst. The easeg for 9gJ years held by The
pennsylvania Company. Of the Pittsburg,
Fort Wayne and Chicago the Cleveland and
I'ittshurl. and the Erie and the Pittsburg
Railways. THESE LEASES ALONE have
from the twelve years from their date to De
ccmber 81, 1850. yielded in average yearly
net profit to the Pennsylvania Company eX-
ceeding one million dollars. which sum is
more than double the entire annual interest
on the %lO,0OO, 900 Bonds at present to be is
sued.
ID Tho company's valuable real estate in
the cities Of pittsburg. Alleghany and Chic;I-
20, and stocks and bonds in its treasury. to
the par value Of about $24 0OJ000 being
mainly securities of lines forming part Of the
PennaylvNnin system.
The company further agrees (the perform
anccs Of which agreement is likewise guar
anteed by the Pennsylvania Railroad COM
Dany) to purchase in every year in which
bonds of this issue are offered at a price not
above par. bonds equal to l per 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.
! The Pennsylvania Company has no pther
| debts except S2,Wl 900 in dcbcnturcs. secured
| by deposit of s. 600 600 OF the Pittsburg.
| Fort Wayne and Chicago Railway stock (part
of the securities enumerated above, and its
bonded debt carnOt under the law be in
creased beyond the amount Of its full paid
capital stock. which at present is $50. 600 600,
exclusively owned by the Pennsylvania Rail-
road Company
The railways operated directly Ori Indirectly
by the Pennsylvania Company comprise a
system Of 1854 miles and the NET EARN
INtiS of that company for the year 1880, af
ter the payment of all fixed charges amoun-
ted to $3071. 800. So
Those Of the Pennsylvania Rail
road Company on its lines east
ofPittShurgh. aftcrpayment of
all fixed charges, to........... 1888, 569.ol