The Portland daily press., 1889-06-04
new LOAN.
WATERVLIET
Turnpike & Railroad
COMPANY.
FIRST MORTGAGE
Six Per Cent. Bonds.
ISSUE S35o,oOo.
DATED MAY /, 1889. DUE MAY 1, 1919.
Interest Nay 4 and November 4, payable
ntthe Boston Safe Deposit and Trust
Company which il also Trustee
under the IN ortgage.

Inls Company was first incorporated in 1928 by
the Legislature Of the State Of New York, as a
adopted, giving rights for street railway system,
with perpetual franchise, which was then Con-
structed. This railway has been In successful
operation ever since. 1t Is now 10 be equipped
with the electric system of overhead wires, SINH
lar to those in successful operation In Boston,
places. The road now has 15 1-3 miles OF track
Commencing at Greenbush carriage bridge In
Albany passing all steamboat landings, all rail-
road depots, and the Post once, 1t runs through
Broadway In front Of Delavan House, thence
directly to the turnpike Of the Company, which
also runs through the famous Albany lumber
district At the terminus OF the turnpike road, IL
enters the village Of West Troy, and Is the only
population OF 5000. At Congress street bridge,
10 West Troy, turn-of will be made, and track
The last connection Is new one, and win largely
increase the earnings Of the road. At West Troy,
the United States Wateryliet Arsenal is located
Government, q, 100000 have been set apart for
furnishings and operating the Arsenal for the
torc ~ Of guns ana 1eavy %
necessity use this railway. The new bridge con
see a ss the @ aHd abnY
The following letter from the President shows
the condition and prospects OF the railway
'The average gross receipts for the past six
years from the Turnpike and Railroad business
ns snS & nave Psen osss o9 per
electrical road will be guaranteed Tor five years In
our contract not TO exceed go per cent. Of the
gross receipts SO that the balance applicable 10
fixed charges should exceed the amount required
to meet interest on the bonds without the ex-
pee'ea increased business Lnat must i come WIN
crease by reason OF better and more rapid service
would place the gross receipts for next year at
way work to be low estimate of increase, con-
sidering the new business TO be received from the
The turnpike OF the Company, which is owned
In fee-simple, Is the only carriage road from
Albany 70 Troy, and produces an average net
per annum. These receipts can be increased to
h The s e,Sp dx q s ss Sss g g
September 80, 1888, Is as follows:
Roadbed. Superstrueture and Rails. S239, $50. 90
Right OF Way, Real Estate, Buildings
and Fixtures. ACKNOWLEDGEMENTS. 46,202.6b
Horses and Harnesses. ............. 66,558.OO
Cars, Wagons Trucks, Sleighs and
sss4.1s4.74
Contemplated improvements. 165,0o0.00
s549,194.7
The new equipment will consist Of SO pound
steel sidebearing rails and:35 pound steel Trails;
station Of capacity Of 200 horsepower, with brick
win be capable Of hauling another ordinary car
WILLIAM BAYARD VAN RENSSELAER,.
1t Is now proposed to issue $3.50 900 frst mort
gage thirty-year six per cent. bonds to take up
tempiated improvements. Thirfy-six thousand
dollars Of these bonds are reserved TO provide for
improvements, and we are now prepared TO re-
eeive subscriptions for the balance remaining
unsold at 1924 and accrued interest. Ten per
cent. payable on allotment, and balance ON de-
livery OF bonds, which VIII be ready about July
LIST.
Legality Of the bonds has been examined by
Messrs. Storey, Thorndike q Hoar, Of Boston.
For further particulars apply to
| WOODBURY. & MOULT0N,
Corner Middle and Exchange Streets,
PORTLAND, ME-.
BREWSTER, COBB & ESTABROOK,
IS Congress Street, Boston, Mass y,
TIED
NorthoTnBankingCo.
-oFFERs FOR SALE
s per cent Debenture Bonds Of the Company,
legal Investment for Savings Banks.
per cent. First Mortgage Loans on real es-
| tate In the best sections OF Kansas.
per cent: 10-year Bonds Of the Arizona I'm.
| proyement Co., secured by irrigated lands and
| water rights and guaranteed BY the Maricopa
Loan and Trust Co. Capital, 100000; surplus,
per cent. First Mortgage Real Estate Loans Of
the Maricopa Loan and Trust Company, Of Pho
| nix, Arizona.
Also Bank stocks. Commercial Paper and other