New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-04-25

The Circular No Ca issued by the Atchison Company 70
It's stockholders and dated May %. 1890 explained Ho
manner in which the COMMON and PREFERRt.D sloCA
Of the ST LOUIS & SAN FRANCISCO RAILWAY IONl'
PANY were exchanged :o stock Of Atchson Company
1t further stated that the FIRST PItEFEfhED SlOCh
Of the 81. Louis San Francisco Railway Company ochs
that held by yourselves and amounting 10 4OOVO shacs
oi the par value OF 81 500 000 not disturbed ana SO
It has remained until now. when the Atchison company -
enabled 20 Judge practical experience ana knoWeuge
upon what base equitable proposal TO the hou
for an interchange Of securities
The MANY complications arising from the control OF thc
Atlantic Pacific Railroad Company being exercised 'oh"
by the Atchson and the ST. Louis San Francisco Oo
panles and tho hopclessncss Of working unoer uVGeu
ownership three railways really compriSeu III one
OF which the Atlantic Pacific Railroad was an heIa'
portion constituted the prime factors In determining inc
Atchson COMPANY 70 acquire the stocks Of tho St. Louis
sar Francisco Company the time did So and thus TO
remove all conflicting internal interests
The Management OF the st. Louis and San Francisco
Railway Companv has decided to issue New Consolidated
four per cent. Gold Bond covering oil OF It's properties
equipment, lands and realizes IN amount soVOooOOVoo
subject only prior liens OF present outstanding mortgages
securing Bonds which will be gradually retired by inc
operation their respective Sinking Funds ana maturtes
and be replaced by the new Bonds.
The present total outstanding Direct Mortgage Bond
issues OF St. and San Francisco Railway Com
pany on It's own and leased lines is s30077,5Oo This
will leave s1S 90 New Consolidated four per cent
Gold Bonds available for the following purposes
To provide for retirement OF e2SOo'oUOOO Atlantic
and Pacific Railroad C0mpanys Second Mortgage SIX per
cent Bonds guaranteed both for principal and Interest
BY the St. Louis and San Francisco Railway Company.
provide complete and proper facilities and machinery
with which conduct operations in the nature OF Round
Houses Machine Shops, Station and other buildings
improved bridges and equipment to complete the ROAD ana
to place the company and its properties In sound financial
and physical condition.
The ATCHISON COMPANY will offer s4.5O0OOO
ofthc New Ronds OF the ~. Louis IL san Francisco
Railway Company. when issued. to the holders oil ~
Loui. and san Francisco Railway COmpnny's First
Preferred stock bns OF exchange oil par for par
each share stock being entitled TO S100 in the New
Bonds. These bonds draw Interest from October l,
1890 mt four per The Atchs0n Company also
will extend this four per cent interest back 70 Jnnu-
nry I, 1890, thnt First Preferred Stockholders
upon surrender of their certificates of stock viii re-
ceive pa the New Bonds and Int crest In cash ut four
per cent continuously from January I. 1890.
Holders of First Preferred stock of the 81 Louis N
san Francisco RAILWAY Company desiring TO make the
exchange proposed will please apply for blank forms
of and for Information desired TO the
vice-Prcsident, 95 Milk ST., Boston,
GEORGE c. MAGOUN. Chairman.
j. w. REINHART, Vce-Prcsidcnt.