Evening star. [volume] (Washington, D.C.) 1854-1972, 1881-05-02
PENNSYLVANIA COMPANY.
Issue Of 80, 100000
In 1-2 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 corporation
chartered In 1879 for the purpose of operating man
aging and developing the railways west of Pttsbu
controlled by the Pennsylvania Rsilroad Company
To provide mesns for the requirement Of add
onal property and the further de 7eIopm ent of the
Pennsylvania Railroad Company's system, the
Pennsylvania Company has decided to create q
First Mortgage to secure Bonds to the amount Of
800 0Ce COO of whicA the present issue forms part
bearing interest at the rata OF ~ per cent per an
mum. payable January aud July l. the principal
mAturing 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
each. 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 first charge upon-
LIST. The leases for 999 yesrs. held by the Penn
sylvania Oompany, of the Pittsburg. Fort Wayne
and Chicago, the Cleveland and Pittsburg. and the
Erie An the Plttsburg Railways. THESE LEASES
ALONE have for the twelve years from their ds.e
to December 81, 1880, yielded an average yearly
net profit to the Pennsylvania Co npany exceeding
one million dolars, which sum is ore than double
the entire annual interest the S10 00e coo Bonds
at present to he Issued.
I'd. The company's valuable real estate in the
cities Of Pittsburg, Allegheny and Chicago and
stocks and bonds in Its treasury. to the par value
OF about S24. 900. 0C0. being mainly securities of
lines forming part of the Pennsylvania system.
The company further agrees the performance of
which agreement Is Gkewise guaranteed by the
Pennsylvania Railroad Company to purchase in
every year in which bonds OF this issue are offered
at price not above par. bonds equal to per csnt
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 VIII CHI should st all times protect the
price Of the bonds against any material decline be-
low the Issue price.
The Pennsy lyania Company has no other debts
except 81, 90l, GOO in debentures. secured by de-
post of 81. coo, GOO Of the Pitsburg, Fort Wayne
and Chicsg Hallway stock tpart of the securities
enumerated above), and it's bonded dest cannot
under the law be increased beyond the amount of
its fun paid capital stock, which at present is
800, COO, 0t0. exclusively owned by the Pennsylva-
MIA RaiIosd Company.
The railways operated directly or indirectly By
the Pennsylvania Company comprise q system of
8, 364 miles, and the NET EARNINGS of that COM
psny for the year 1880, after the payment of all
fixed charges amount to- So, OH, 396 IS
Those Of the PeDnsylvania Railroad
Company on It's lines east OF Pitts
burg, after payment Of all fixed
charges, $685. 569 "
TOTAL NET REVENUE FOR 1880. 10. 7O9, 9S5 SO
WHILE ONLY 81, 100, GOO will be required to meet
thejntel est and sinking fund, WHEN THE WHOLE
OF TIE $50, 0Ce, eco BONDS ARE ISSUED.
Provision has been made to have Coupon Bonds
registered in the owners name when desired, and
also 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 Fennsy!vsnia Railroad Company.
The undersigned, having secured control OF the
herehbefol described
TEN MILLION DOLLARS
4I.2 Per Cent. Gold Bonds.
Offer the same for pubic subscription at the price
of 1L0 IL per and accrued in crest to date of
delivery.
Subscription Will be received until FRIDAY,
MAY g. but the right is reserved to close the sub
scripttons at an early date. without notice.
Subscriptions will also be resolved
IN ENGLAND-by Messrs. LOUIS COHEN
SONS, of London.
IN PHILADELPHIA Messrs DREXEL
CO.
Thus securing for tia bonds an international
market
KUHN, LOEB & Co,
81 Nassau Street, New York.
m2s.5.3t