New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-04-16

rs crcuar No a. issued by the Atchison Company to
ia stockholders and dated May %, 1890, explained Se
manner in which the COMMON and PREFEkI.r.p o,1
=, ,be ST LOUIS & SAN FRANCISCO RAILWAY CoM'
pA were exchanged stock Of the Atchson company
II further stated that the FIRST PREFEhhhD STUN
q, the St. Louis San Francisco Railway company DeS
that held by yourselves. and amounting 70 ao,Ooo '
Of the par value of g. 500 ooo was not au ~
enabled 20 Judge practical experience anu kno"euse
non what terms to equitable proposal 70 ehe hou
ers for an interchange Of securities.
The uany complications arising from the control OF the
Atlantic Pacific Railroad Company being exercised 'oh'y
nv the Atehison and the ST. Louis San Francisco Co-
NAMES and the hopelessness OF working uhuef u'iueu
ownership three railways really eompfseu III one sSs'e
OF which the Atlantic Pacific Railroad was an lneegrai
portion. constituted tho prime factors In ueSetnilhs inc
Athson Company acquire the stocks OF the St. Louis
San Francisco Company the time 1t 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 ConsohuaVeu
four per cent Gold Bond covering all Of its properties
equipment lands and realities, IN amount $4,000 OO0OO'
subject only prior Hens OF present outstanding mortgages
securing Bonds which will be gradually retired by tho
operation their respective Sinking Funds and maurtcs
and be replaced by the new Bonds.
The present total outstanding Direct Mortgage Bond
issues OF st. Louis and San Francisco Railway Com
pany on its own and leased lines is $30077500 This
will leave s3 90 New Consolidated four per cent
Gold Bonds available for the following purposes:
To provide for retirement OF $500 10000 Atlantic
and Pacific Railroad Compony's Second Mortgage six per
cent Bonds guaranteed both for principal and interest
by the 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
place tho company and It's properties in sound financial
and physical condition
Tho ATCHISON COMPANY will offer $500, 900
ofthe New Bonds of the ST. Louis 81 san francisco
Railway Company when issued TO the holders of ~
Louis and san Francisco Railway Company's First
Preferred Stock basis of exchange of for par,
each share OF stock being entitled 81 90 in the New
Bonds. These bonds draw Interest from October l.,
1890. at four per cent. The Atchison Company also
will extend ths four per interest back 10 Janu-
AIRY 1, 1890. that First Preferred Stockholders,
upon surrender Of their certificates of stock, will re-
ceve par the New Bonds and Interest in cash Mt four
per cent continuously from January /. 1870
Holders Of First Preferred stock Of the 81 Louis ~
San Francisco Railway Company desiring 70 make the
exchange proposed will please apply for blank forms
acceptance and for Information desired TO the
Vice. President, 0j Milk ST. Boston.
GEORGE c. MAGOUN, Chairman
j. w. REMNANT, ce-Presidcnt.