Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1891-04-29
COUNSEL.
Richard Olnoy. ESQ.

The properties and concessions which the Com.
pany will Immediately control embrace the exelu.
sye right for periof Of 70 years TO control the
lishtsrage. whar age and warehouse business Of
and operate railroad from CartaSena to the
Magdalena River, about 81 niles, the monopoly
Of sane for 20 years, land grant of about 40 900
baiId other railways. exemption from taxes and
duties upon material, &C., &c.
These concessions were obtained and are now
ly two years In investig collection Of data,
Surveys and estimates. The ordinary shares will
be issued to Mr.. McConnico In payment for the
dis rbutea 10 parties in Colo mbis and tnis ooun
try who have assisted him In the development of
the enterprise. No money consideration 10 to be
paid The Directors wish II to be understood that
hey are not the concessionaires, and that Nj.
NcConnico Is the sole owner Of the concessions.
u is estimated that the following expenditures
wi be necessary to carry out the project; viz:-
ror the purchase OF the 30 years monopoly con.
tract, including the present plant Of lighters and
tugs at Cartagena, construction OF waArves asd
warehouses. and % miles Ct railroad. equipment
Allow surpla, for contingencies. ....... i7s.0Oo
Capital required. .................ti,20 o. 600
Sources Of Revenue.
The estimated ne. earnings for 1899 Gree from
any iatereat or fixed charges based upon trafRc
already exits Ing as per reports Of Tobias. 9.
D., ard ". 2. Langan. are sS42,6is, ~ fully
detailed 10 the prospectus.
II these figures are realized the preferred shares
would receive over 10 per cent I'm dividend
AID per cent in sinking fund for the year 1892
Meantime the present annaal port earnings,
shown to be $50 GOO. should afford fair return on
the capital. as called in during construction.
While the foregoing figures show large return
on the invf stment, there are igportant additional
xpeetaiious. including promised subsidy from
tue Colombian government equal TO t2i6.670 gold
Establishment OF steamship ines, coaling stations
tharo hs.fr. Iona Nkn xuk. IL Ia
fruit culture. development Of town sites, etc., etc
as fully set forth in the prospectus.
The Directors and their friends have
subscribed for $3.50. 900 Of the Preferred
shares ~ par. aud In addition, 500, 900
81 shares have been reserved for subscrip-
zion NJ par by parties In Colombia wis
have expressed . desire 10 take that
amount, and whose cooperation will be
important.
THE OLD COLONY TRUST co.
of Boston is authorized to offer the remainder for
10 per cent. on application. 10 per cent. on allot
IN mt, and thereafter not more than 20 per cent.
In any one month. II NO allotment be made the
shall be binding unless $50, 900 Of the preferred
rhares are subscribed for.
Jhe Old Colooy Trust Company, ~ Trustee, will
held the concessions cess and grants. to protect the
ferred stock has been all retired.
Tho retirement OF Preferred stock pro.
viOess To y new and unusual extent, 9Os
tho return Of all cash capital and interest
without dspriving subscribers OF any oi
their proprietary interests. and gives
them . permanent participation In the
earnings.
Tne Directors will cause q farther special ex
animation to be made in their own interest before
more than 20 per cent. Of the subscriptions II
called up.
TREATIES.
he treaty made between the United States o,
America and the United states Of CoIoDbia, IL
1916, With subsequent conventions late a. 1905
guarantees the protection OF the rights and crop
elty o. American citizens Go up bia.
new extradition treaty, vatifed by the United
states nate, on March 2G,ISs' affords additions
security and II is expected that n reciprocity tYes
ty NAV soon be made upon similar lines TO tha
recently conclud d with Brazil.
Application will be mace a. soon a. practicable
for quota ion on the Boston Stock Exchange.
Pun reports and descriptive features, also COD
fes Of the concessions, esti mates OF enaiAeers
with mays and letters. more particularly one from
he Son. W. r. Curtis. Executive OfAcer Of Thu
Bureau Of American Republics. State Department
washington, dated 27ta March, 81, caa Be In.
spected at the Old Colony Trust Co.
Forms Of Application and full Prsspse.
fuses can be Obtained ~ the Old Cotoay
Trust Co, Ames Building, Boston
where Subscriptions will be Received
The subscription ,oiR ciose Saturday, May ed
| at . = NJ, and any be closed bs the old CoiOn1
Trust Co. rithouf notice 1efore that date.
Boston. ApriI r. 1901 anY27mou kveA