The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1891-04-25
FINANCIAL.

OFFICE OF .THE
ATCHIS0N, Topeka & SANTA
FE R. R. GO.
NO. 95 MILK STREET.
P.O. Box. SAG, BOSTON, April z, 1891.
TO THE
FIRST PREFERRED STOCKHOLDERS
st: Louis & San Francisco Railway
Company.
Inc Circular No. "a, issued by the Atehson
company to its stockholders, and dated May
90 lo9O, explained the manner In which the COM
MON ana fREFERRED STOCKS Of the ST. LOUIS &
DAN FRANCISCO RAILWAY COMPANY were ex-
changed Tor stock Of the Atchison Companv. II
further stated that the FIRST PRFFFpprD Srocvr
OF tho st. Louis & San francisco Railway Gamma
ny, being that held by ourselves. and amonn,ino
TO 4o,OOo shares' OF the par value Of $4,000 600.
90, was not disturbed; and so it has remained nm
til now, when the Atchlson Company is enabled
10 Judge, from practical experience and knowl-
edge, upon what terms TO base an equitable pro-
posal to the holders for an interchange Of seeur
ties.
The many complications arising from the con-
| troll OF the Atlantic & Pacific Railway Company
being exercised jointly by the Atchlson and the
| st. Louis & San Francisco Companies, and the
hopelessness CT working under divided owner
ship three railways really comprised In one sys-
tenn OF which the Atlantic & Pacific Railroad was
an integral portion, constituted the prime factors
| In determining the Atchlson Company to acquire
the stocks OF the st. Louis & San Francisco Com.
pany az the time Il did 90, and thus TO remove all
conflicting internal interests.
The Management of the St. Louis & San Fran
cisco Railway Company has decided to issue a
| New Consolidated four per cent. Gold Bond, COW
realizes. in amount $50 o60. 10000, subject only
TO prior liens OF present outstanding mortgages,
securing Bonds which will be gradually retired BY
the operation OF their respective Sinking Funds
and maturities. and be replaced by the new
Bonds.
The present total outstanding Direct Mortgage
Bonds Issues OF the st. Louis & San Francisco
Railway Company on its own and leased lines Is
6.o77 300; This will leave SIS, 922, 10000
available for the following purposes:-
To provide for retirement OF So, 800 10000 At
lantic & Pacific Railroad Company's Second Mort
Principal and Interest by the st. Louis & San
Francisco Railway Company; To provide for
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 the Company and
its properties In sound financial and physical
dition.
The Afchison Company will offer 81,
500 10000 Of the New Bend- of the -.
Louis a. Sam Francisco Railway C0mpa-
my, when issued. TO the bolders of So Lonis
a. San Francisco Railway Company's
First Preferred stock n basis OF ex-
change of par for par, each share OF stoe X
being entitled 20 500 I'm the New Bends.
These bonds draw Interest from October
., 1870, mt four per cent. The Atchison
Company also will extend this four per
cent. iaterest back 20 January Z, 1880, so
that First Preferred Stockholders, upen
surrender Of their certificates OF stock,
will receive Par in the New Bonds and I'm
terest i'm cash mt four cent, continuously
from January 4, 1880.
Holders OF First Preferred Stock of the
80. Louis a. San Francisco Hallway Com
pany desiring 10 make the exchange pro
posed will ptease apply for blank forms of
acceptance and Tor amy Information de-
sired, 20 the yiee-President, % Milk ST.,
Boston.
GEORGE q. mAGOUN, Chairman.
j. w. REINHART, Viee-President.
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