Evening star. [volume] (Washington, D.C.) 1854-1972, 1881-05-05

The Pennsylvania Company is q corporation
chartered In 1870 for tho purpose Of operating.
aging and developing the railways west of Pittsburg
controlled by the Peonsylvanis Railroad Company
To provide means for the acquireme at Of aadi-
tonsl property and the further de velopmsn of the
Pennsylvania Railroad Company's system, the
Pennsylvania Company has decided to create a
First Mortgage to secure Bonds to the amount OF
800 CCc Coo of which the present issus ferns part
bearing interest at the rats OF ~ per cent per
mum, payable January l aud July /. the principal
msturiDg in 1921, and both principal and interest
payable in Gold. in the city OF New York. free from
National and State Taxes.
The Bonds are is, ued in denominations of 81, 600
Zach. and EVERY BOND HAS ENDORSED
THEREON TIE ABSOLUTE GUARAN TEE OF
THE PENNSYLVANIA RAILROAD COMPANY
FOR PRINCIPAL AND INTEREST.
The total authorized issue is further secured by
mortgage as q first charge upon
LIST. The leases for 999 years. held by the Penn
tylvania Company, of the Pittsburg. Fort Wayne
and Chcag", the Cleveland and Pittsburg, and the
Erie AZ d the Pn;sburg Railways. THESE LEASES
ALONE have for the twelve years from their date
to December 81, 1880, yielded an average yearly
net profit TO the Pen sy lvania Company exceeding
one million dollars, which sum ia n ore than double
the entire annual interest the $l0 0Oe COO Bonds
at present to be issued
I'd. The company's valuable real estate in the
cities OF PittsburF. Allegheny and Chicsgo. and
stocks and bonds in it's treasury, to the par value
Of about S24. 600, 0C0. being mainly securities of
lines forming part of the Pennsylvania system.
The company further agrees (the performances of
which agreement is Hkewise arantesd by the
PenDsJlv ania Railroad Company to purchase In
every year in which bonds of this issue are offered
at pvice not above par. bonds equal to per c.nt
on the then outstanding issue Ct said bonds, and
the annusl interest upon such bonds as shall have
been before that time purchased. with said fund-a
provision VIII CHI should at all times protect the
price OF the bonds against any material decline be-
low the issue price.
The Fennss lvania Company has no oshsr debts
except 81, Sol, COO in debcntures secured by de.
poeit Of 81 COO, 600 Of the Pittsburg. Fort Wayne
and Chicago Railway stock (part of the securities
enumerated above). and its bonded DEBT cannot
under the Ian be increased beyond the amount of
its full paid capital stock. which at present is
500, 00e, GEO. exclusively owned by the Pennsylva-
MIA Rsilroad Company.
The railways operated directly or indirectly by
the Pennsylvania Company omprise a system of
8. 364 miles, and the NET e EARNINGS of that COM
pany for the year 1880. after the payment of all
fixed charges. amount to. ......... %, OIL 396 IS
Those OF the Pennsylvania Railroad
Company on Its lines east Of Pitts
burg. after payment OF all fixed
charges 1883 669 OIL
TOTAL NET REVENUE FOR 1880. 10. 7O9, 9S5 Sc
WHILE ONLY ST., 100. 009 will be required to meet
theintea est and sinking fund. WHEN THE WHOLE
OF TIE $40. Geo. leo BONDS ARE ISSUED.
Provision has been made to have Coupon Bond
registered in the owners name when desired. and
ALEC for their conversion into absolute Registered
Bonds, interest payable to the registered owner
only.
WILLIAM THAW,
Vice President Pennsylvania Company.
Approved:
g. B. ROBERTS.
President Fennsylvania Railroad Company.
The NJ dersigned, having secured control o: the
herein befo. described
TEN MILLION DOLLARS
4 Leg Per Cent. Gold bonds,
Offer the sane for pubic subscription a. the price
of leo per cent and ccued in crest to date of
delivery.
Subscription will be received until FRIDAY,
MAYO, bat the hight is reserved to close the sub
scriptons at 81 early dste without notice.
subscriptions will also be received
IN ENGLAND-by Messrs. LOUIS COHEN h
SONS, of London.
IN PHILADELpHLA-Py Messrs. DREXEL,
CO.
Thus securing for the bonds IN international
msrAet.
KUHN, LOEB & Co,
81 Nassau Street, New York.
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