New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-11-18
fiuannal.
ATLANTIC AND PACIFIC RAILROAD COMPANY.
~ MILK-9T.

ATLANTIC AND PACIFIC RAILROAD COMPANY.
- MILK-sT.
BOSTON Oct 90 1885.
The holders Of conpsnys bonds It's west
ern Division o. dus 1870 and Of Its Central Dfvion
Ga dus 1922 hereby informed they erchnr-e those
bonds Of each class for amount par FOR OF new
-Four t Per Cent Guaranteed Trust Gold Bonds OF tbs
Company.
The are to be dated Jan l. 1887 so years.
to bear interest the a. Cent snnun
payable semsnnuAiy January and July and to be guar
rAntsed By each bond for due payment
principal and interest by the Aohison Topeka ana santa
Railroad Company San Frsnoisce Rail
way Company the extent half by each COMPANY ana
are 70 be secured by deposit such two oo
panes with The Mercantile Trust Company of New YORK Of
the bonds for which the bonds TO be given IN e
change
The necessity for making proposal the bondhodsr
has long received 20 the three com
panes and The advsabty Of Its acceptance
the part OF The bondhoders evident from the o
lowing statements
Notwithstanding the establishment Of through trans
continental line the and Pacific Railroad DO
tween the Mississippi aud Missouri rivers and the PACING
Coast by contract with Southern Pacific Railroad Company
and also BY the completion Of the California Southern Kali
road to connection with the Atlantic and Pacific ROAD sne
expectations OF the inception Of the
enterprise have realized satisfactory degree
fulfilled This has been which could not be
foreseen Delays construction occurred while the cost e1
ceeded careful estimates general depression in business has
existed active competition anil low rates have
prevailed and result OF all the earnings Of the Az
lsntc and Pacific road have this time been wholly
insufficient TO meet its fixed charges although the interest
its bonds has been regularly paid The funds for this
and the other fixed charges Of this
company have been from time time advanced by the
Achson Topeka and Fe and the ST Louis and San
Francisco c0mpanies because Of their respective In
their confidence the ultimate
of this railroad The present obligations OF those com
panies pay Of upon Atlantic and
Pcac bonds issued advance TO the extent OF Only
25 of the derived ~ them from the
business passing their respective limos and coming from
going road OF and Pacific COMPANY ana
their made only which TO be repaid
with interest In order maintain the sovency OF the
Atlantic and Pacific Company and in the hope of better
results in the future. the Atchlson and San Francisco
companies have already advanced largely IN excess
Of their obligations under traffic contracts; but the time
has when such assistance be longer expected
the companies have notice that VIII not be
continued They have however agreed that on the new
proposed each viii future absolutely guarantee the
payment OF oneha Of the Principal and Interest at per
COmpanys existing Indebtedness the
bondhodes accept such and in consideration
thereof exchange the existing ponds Of this company
plan already acquesced and approved By
many holders bonds and in large Its success
is contingent the assent before December a. oea
Of holders OF majority interest such assent is not
obtained By that time will be considered that the plan not
acceptable bonhOlders option of either COM
Be abandoned In that event cannot be expected
that other plan be advantageous to the
DondhOders as that that IN
can they 50 efectually protect their interests-
The Per Cent Bonds guaranteed to principal
and interest and with all the advantages stated ought TO be
highly regarded for and at command
ket value Approximate 10 that of the most approved
securities Of Ike character.
By the deposit OF the existing mortgage bonds the
that they exchanged the lien OF the
mortgages all the property viii continue for the
benefit OF the holders of the bonds.
The Mercantile Trust Company OF New-York Will be the
Trustee under Trust ndenture made by compa
MES to secure the bonds each Of which will be su
thenticaed by and copy the may there
The said Trust Company at New-York. and
Messrs. Sehgman 4 stetthelmer. Frankfurt-oM.
WIrttembergsche vereinsbank Stuttgart
Rheinische Creditbank Mannheim,
Fnisle der Rheinschen Creditbsnk, Karlsruhe
Filiale der Rheinschen Creditbank Heidelberg,
Filisle der Rheinschen Creiitbank, COn-tanE,
Filiale der Kheinischen CTeditbank, Freiburgi-B,
Alsberg. Goldberg & Co. Amsterdam,
will be prepared from holders Of the present bonds
the deposit with coupons attached be
changed stated. THE MERCANTILE TRUST COM
PASY OF NETWORK. ME~sRs. KIDDER PEABODY
CO.. OF BOSTON. and tie Frankurter Bank. at Frank
furt-o NJ. n Temporary receipts which VIII be
changeable for bonds ready.
Division bond deposited they will also
give 800 in cash interest for each
80 and for and Of the
proposed Bonds bearing Jan J.
The bonds have coupons annexed but pro-
Is also 10 be made for their regsrauon, and at the
the exchange they ready delivery receipts
Will be issued emitting the bonds
as soon as they be du 81 prepared
Applications ~u De made To have the Guaranteed Trust
Gold placed regular LIST Of the York
Exchange admitted Tor dealings al the Exchanges
abroad
BY order OF the Board
H. c. MUTT President
Approved:
EDWARD ?. WINS SLOW. President.
ST. LOUIS and san Francisco Railway Company.
Approved.
WILLIAM Z. STRONG. President
Afri,iaon Tnne.a and -arta Fe Raj road