Morning journal and courier., 1881-05-23

THE CHICAGO, MILWAUKEE AND ST. PAUL RAILWAY COMPANY at the beginning of the cur rent year owned and operated about 3,7OO miles of railway.
 To further complete and consolidate it's system,an and especially the Southwestern portion Of the same, the Company has acquired number of connecting lines in the State of Iowa and in Dakota and is construct ing line of railway from Dubuque and Marion across the State of Iowa to Council Blufs opposite Omaha, with branches into Nebraska and Dakota in cuding three bridges across the Missouri and Mssis sippi rivers To provide for these purposes the Company has determined to issue its bonds cured by first mortgage at the rate of $2O,OOO per MILE OF COMPLETED AND EQUIPPED. ROAD, and further issues three bridges for addition al rolling stock when required by the increased traf fc of the Company and in it becomes requisite by increased traffic the Company may double track the line at not to exceed additional hypothecation of S8,00O mile. The deed of trust to the Farmers Loan and Trust Company sTRINGENTLY provides that NO BONDS CAN BE ISSUED except for the aforenamed purposes WHEN ACTUALLY ACCOM- PLISHlD.
 The Capital Stock of the Chicago, Milwaukee and St.
 Paul Railway Company is
 In Preferred Stock .S12, ,4O4,4s3 In Common shares. 15.4O4. .261 Making together s27, ,sOs, "A
 During the entire existence of this company divi- dends of per cent per the preferred stock have been paid, and from time to time dividends the common stock, which latter for 1879 amounted to per cent, while for 1880 per cent were paid upon the common stock.
 The gross earnings for the year. ending December 91
 1880, amounted to-. SIS, ,Os6, HIS 61 After deducting operating expenses
 and taxes s.--.-.-...------..--.--. 7,742,425 6s There left, net earnings..-... s5,343,692 8 And after paying interest the total bonded debt there remained profit for the year of S2 SCOT. 45, from which deducting the dividend of per cent. on both classes of stock, S1,946,6I Os, leaves balance of net profits Sso2, ,995 37, which, together with the surplus of former years leaves an undivided balance of income of $3,3G9,97 13.
 The rolling stock of the Company at the beginning of the year consisted of 4a5 locomotives and l3. 634 of various descriptions
 The new system which the Company is now con- structing and which this issue of bonds is made will make the shortest line from Chicago to Omaha and will enable share the transconti- mental traffic heretofore mainly controlled by the other lines extending east from Omaha; and it is pected that the superior location of the line by which these bonds secured and their redemption in gold coin will make the same exceptionally desirable investment.
 (Signed) JULIUS WADSWORTH, Vice-President. The undersigned, having secured con- trol of the above described loan, OFFER S5,00O.OOO for public subscription AT THE PRICE OF 100 and accrued interest, subject an ad- vance in price and to closing of subscrip- ton without notice. Subscriptions will likewise be received by the
 Deutsche Vereinsbank OF FRANKFORT, o. M., giving purchasers the adva ntage Of an intern n tiomaI market. KUHN, LOEB q CO.,, 31 Nassau Street, New York. my23&251 ' ARRABEE's Chocolate Macseo eoons Extra quality fA fre'1's Ep4. E. HA1L.4 SON.