New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-04-25
finanrial.
Western Ne York
Pennsylvania R. R. Co.'s
First Mortgage
Per Cent.
Fifty Year Bonds.
Issue of 100000.
Total Amount of Mortgage
S1O,OOO,OOO.
Tho MERCANTILE TRUST COMPANY Of Nsw.York.
Trustee.
Bonds oeo each with coupons attached and privilege
DATED DECEMBER list, 1887.
Principal and Interest Payable in Gold.
FREE FROM TAXES.
PRINCIPAL DUE JANUARY ISt, 1897.
Interest Payable January 1st and
July 1st, at the Company's Office,
NeW-York City.
BONDS. CANNOT Be Redeemed
BEFORE MATURITY.


These Bends are Issued in pursuance OF the Buffalo.
New.York and Philadelphia Reorganization Agreement
dated Feb 10, 1885, and authorized by tho unanimous
of tho stockholders of the company. the
Western New-York and Pennsylvania Railroad Company
sl,JOCOOO OF tho Bonds reserved for better
mens for the purchase construction Of additional
railroad or other property which will under tho
Mortgage, and tho remainder 900 additional Bonds
reserved to take up provide for like amount OF the
Warren and Franklin Railroad Companys Bonds maturing
| in 1896
These Bonds are First Lien upon tho Railroad and
Franchise OF the Western New.York and Pennsylvania
Railroad Company owned which may be acquired
hereafter except about so miles formerly the Warren and
Franklin Railroad also First Lien upon oil rolling
Stock equipment acquired by the sale Of tho First
Mortgage Bonds reserved above mentioned for that
purpose, and Second Lien all oGher rolling stock
and equipment. and upon the Western New.York and
Pennsylvania right to use the property Of the Union
Terminal Railroad Company OF Buffalo N. Y. also upon
Bonds and Stocks belonging to the Western NewYork
and Pennsylvania Railroad Company. which said
panys Second Mortgage Is First Lien. but with the
right reserved the First Mortgage Bondholders TO use
equipment and the terminal property though the
prior lien thereon should be enforced.
The cost OF the property on which these bonds are
First Lien Including the Warren and Franklin road
stands at s3O,OOO,O 900 on the books Of the old
| company.
The road passes through tho lumber coal and oil regions
OF Western NewYork and Pennsylvania and Its business
steadily Increasing having been undeveoped owing to
want sufficient rolling stock. Fifteen new loeomo-
ves and 1900 have recently been purchased at
ST5000o and will shortly all be in opera
tho property The plant and equipment are in good
condition. the receiver reports that there has been ex
pended nearly $780, 900 during his administration,
and that wooden bridges replaced with fon Iron rails
with STEEL treses filed IN and numerous improvements
introduced to prevent and slides New sIdings
constructed and of the old locomotives and
| cars rebuilt
In accordance with the reorganization plan the floating
debt old company has been settled the car trusts
have paid and the real estate mortgages 410o0
provided for. The company holds real estate, consid
which is not used In the operation OF
road also s495 900 second mortgage bonds reserved
in tho additional assets thus leaving no liens on
the property the and second mortgage bonds
The line OF road which is covered by this mortgage ex
tends from Buffalo, N. Y. to Emporium, Penn. With
branch to Clermont Penn, also from Buffalo. ~ Y, to
olean N. " via Oil City Penn. and other lines and
branches making total OF 037 miles upon which this
| First Mortgage FOE s1cooo0o0 Is at the rate Oh
about S1o, 800 per mile.
The company has running arrangements, for which
rental is paid about SO miles of road owned by tho
Lake Shore and Michigan Southern and the Philadelphia
! and Erie Railroad Companies
gross and net earnings for the six months ending
December 81 1857, according 70 the DOCKS Oh s COM
| pany, are as follows:
OPERATING opera expenses, rental and
| taAcS @N""'0-~No
interest int SaTnt ON the present Issue Of -
| 81, 100000 first mortgage
rem and Franklin h h bonds 22oooo 90
Surplus for the six months {. s121. 40 rs
| (Slgned),
| G. III. ALLEN,
President W. N. Y. p r R %.
CITY sT ESp c or NNFY; dT ENKf,w.YoRK. ~
On this 9th day of April A. d. 1888, before me por-
sonally came G. II. Allen to personally known and
known to mo to DO the President Of the Western New.
York and Pennsylvania Railroad Company. and having
been duly sworn. said that the foregoing Statement,
signed by him such President is true.
(Sgnod).
EDw. u. HAWKINS,
| fseal) Notary Public, NJ Y. City and County
referring the above prospectus signed by the Presi
dent the Company. and behalf OF Syndicate, we
offer the above s77oOo0O Bonds for public subscription
simultaneous Issue will DO made here and abroad By
the following firms:
Deutsche Effecten and WechseT Bank,
FRANKFURT ON. MAIN
Messrs. Job. Coll & Sochne,
ACKNOWLEDGEMENTS.
Anglo DeutsChe Bank,
HAMBURG
Messrs. H. 0yens & zonen,
S0ciete de Credit Suisse,
ZURICH
Messrs. Zahn G. Co.,
BasIer Bankverein,
Basler Deposition Bank,
BASEL
Messrs. Marcuard G. Co.,
BERNE
Messrs. De Pury G. Co.,
NEUFCHArEL.
Banque de MuIhOuse,
Messrs. E. W. Clark & Co.,
PHILADELPHIA
MessrS. {. Rollins Morse & Bro,
BOSTON.
Bank of Commerce,
Thus securing fer the Bends intern market
SUBSCRIPTIONS FOR THE ABOVE BONDS WILL
BE RECEIVED AT THE OFFICES OF THE UNDER
SIGNED on
APRIL 2J AND 26
AT THE PRICE OF o, AND ACCRUED INTEREST,
THE RIGHT BEING RESERVED TO ADVANCE
THE PRICE WITHOUT NOTICE AND TO REDUCE
OR REJECT ALL APPLICATIONS OFFERED.
Forms OF tho Bond and copies OF the Mortgage sb
tanned on application to the undorsigued
Bonds are now ready for delivery
| Dated ApIil 81. 1888
MAITLAND, PHELPS & co..
NETWORK.
KESSLER & CO.,