New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-04-10

M c,, NJ "a issued by the Atchlson Company to
lie stockhoders and dated May %, 1890 explained e
manner in which the COMMON and PKEfEtIsED olooh
90 ,ho SIT LOUIS & SAN FRANCISCO RAILWAY COM
~, rore exchanged for stock Of the Atchson Company
II further statei that the FIRST PREFEhliED STUN
~ the St Louis Francisco Railway Company pehs
that held by yourselves and amounting to 4oooo shate
% tho mar value Of s. 000 not disturbed and so
hos remained until now when the Atchison Company Is
enabled N Judge from practical experience and knowledge
non what terms TO equitable proposal to the hold
ers for an interchange OF securities.
The MANY complications arising from the control OF the
Atlantic Pacific Railroad Company being exercised lohsy
b the Atchison and the ST. Louis San Francisco Com
anies and the hopeessness OF working under dlNlded
ownership three railways really comprised In one system
Of which the Atlantic Pacific Railroad was an integral
portion constituted the prime factors In determining inc
chIon Company to acquire the stocks OF the ST. Louis
San Francisco Company the time IL did So and thus 70
remove all conflicting internal interests
The Management Of the St. Louis and San Francisco
Railway Company has decided TO issue New Consolidated
four per cent Gold Bond covering all of its properties,
u,nnen. lands and realities In amount $50 000 0G0 90,
subject only TO prior liens OF present outstanding mortgages
securing Bonds which will be gradually retired by tho
operaon OF their respective Sinking Funds and matues
and DO replaced by the new Bonds
The present total outstanding Direct Mortgage Bona
issues Of the St. Louis and San Francisco Railway Com
many on its own and leased lines is $50 077,500 This
viii leave s13 800 90 New Consolidated four per cent
Gold Bonds available for the following purposes
F-rcbOfOvv'Np
and Pacific Railroad Companys Second Mortgage six per
cent Bonds guaranteed both for principal and interest
by tho St. Louis and San Francisco Railway Company.
To provide complete and proper facilities and machinery
with which to conduct operations in the nature OF Round
Houses Machine Shops, Station and other buildings
improved bridges and equipment to complete the road and
to place tho company and properties in sound financial
and physical condition.
The ATCHlsON COMPANY will offer S4,5OOOO0
of The New Bonds Of The NJ. Louis IL San francisco
Railway Company. when issued. the holders of ~
Louis and san Francisco Hallway Company's First
Preferred stock basis OF exchange OF par for par
each share OF stock being entitled 10 500 In the New
Bonds. These bonds draw Interest from October 1,
1890. at four per The Atchison Company also
will extend this four per cent interest back 10 Jnnu-
airy 1, 1890, that First Preferred Stockholders
upon surrender of their certificates Of stock, will res
ceye par the New Bonds and Int In cash at four
per cent continuously from January 1, 1880.
Holders of First Preferred stock of the 81 Louis q
san Francisco Railway Company desiring TO make the
exchange proposed will please apply for blank forms
of for any Information desired TO the
| Vice. President, 0j Milk ST., Boston.
GEORGE G. MAGOUN, Chairman.
| ]. w. REMNANT, vice-Prcsident.