New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-05-06

NGV-Y0k Ontario
Western Railway Co.
ISSUE OF $2,5OO,OOO.
CONSOLIDATED FIRST MORTGAGE PER CENT
FIFTY.YEAR GOLD BONDS
At 81 per Gent.

Messrs. POOR & GEEBNoUGH authorized to re.
cei subscriptions for the above Bonds In denominations
of $1,000 $500 each bearing coupons from the lst Of
June next. Subscriptions arc payable rs follows: Ten
per cent on allotment and the remaining 81 per cent on
49, 1889 Negotiable receipts signed by the Rail
way Company will DO given TO nllotecs on payment Of
the rs nsalmen and dehnItye bonds Will b. exchanged
for these receipts when full paid after June 10
ThcS: bonds Issued for the purpose OF paying LOT
the extension now undcs construction OF tho ontario
Railway system into the anthracite coal neds near scrah
ton and providing the nccdiu equipment and they are
by consolidated Ars: mortgage upon tho ectire
main line branches, equipment and property OF the New
York. Ontario and Western Railway Company, including
deposit with tho trustee OF this mortgage OF al tho
$4,000 600 OF securities except $4,000 OF stock retained
for the purpose OF orgsnaton) created on the aorr'
said Scranton extension which Is known as the OntaiO
CaIbondIle and Scranton Railway Company.
The physical condition aud prospects OF tho railway
are fully SGT forth in letter from the President OF the
Company from which the following arc extracts
The system extends from Oswego Lake Ontario,
to udewates at Now.York lIarbor, and connects by
Of ts branches and leased lines with various I'M.
pOrtaat points
"Tb, Company 800 miles OF main line and branches
has 81 miles OF leased line, and vaIusbe rackage rights
81 miles Of the West Shore Railroad New.EoFk
Harbor for about two hundred year, making mile.
age worked By engines aga miles. The Company has
also for about two hundred the right all tho
West Shore Railroad terminals and connecting facilities
a. New.York City"
Tho gross earnings for the fiscal year ending soth
September 1883, cquacd IS 262 per mile OF road owned
The thr~s years ending 3Oth September, 1883, show
surplus credit OF profit and loss OF $3.50 $685. which
has been expended In betterments."
Tho tonnage OF anthracite coal shipped from the
Wyoming basn OF which Scranton Is the CENTRE amounted
IN the year 1888 90 OO0O OF TONS and the
ton OF branch Of 81 l.2 miles from Hancock station
tho main limo Will connect the New.York, ontario and
Western Railway with Scranton and will open up
the following markets for anthracite, coal:
/. Buffalo and the West via oneida, the junction with
the NcH.York Central the mileage the Ncw-York,
Ontario and Western system being 100 miles.
.. The New England States, via the bridge
the Hudson River at POughkecpssi our mileage bslng
142 miles.
.. Npw.York Harbor over main limo mile.
age from Scranton being 2l0 miles.
4. Canada and tho West the Roma. WATERFOWL
and OEGonsburg the Canadian Pacific and the
Grand Trunk Railway Of Cansdl."
Contracts tor large coal tonnage have already been
secured sufficient 70 justify the building Of the
tnsion aud u assure fair surplus over the interest
upon the capital required for It's eonstructon-hoss
already signed exceeding half million per
The proceeds Of tho present issue Of bonds will b.
applied exclusively 70 tho purposes above stated
THOMAS Z. FOWLER
Presldon. Ncw.York, Ontario and Western Railway.
Application will be made fog q quotation the New.
York Stock Exchange.
simultaneous OF these bonds IS made in London
by McssFs SATTERTHWAITE & CO., and Messrs.
FOSTER a. BRAITHWAITE, thus securing in.
tornauonal market. The subscription list will be closed
on before "Wednesday May 9th. Prospectuses su1
forms Of application may DO obtained OF ts Undersigned
POOR & GREENHOUSE,
80 wall-st., New-YOrk.
.Nnr