New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-04-12
OFFICE OF THE
ATCHISON, topeka 6
SANTA Re R, R. CO.,
No. 95 Milk Street,
P o. BOX $40. BOSTON, April 7. 1891.
TO THE
FIRST PREFERRED STOCKHOLDERS,
St. Louis & San Francisco Railway
Company:

The Circular No o. issued by the Atchison company 70
It's stockholders and dated May %. 1890 explained zoe
manner In which the COMMON and PREFERbED sIoCh
Of the ST. LOUIS & SAN FRANCISCO RAILWAY COM
PANY were exchanged for stock of Achon Company
1t further stated that the FIRST PREFERtED SIOUX
OF the st. Louis san Francisco Railway Company Ocing
that held by yourselves and amounting TO 4oooo hareS
Of the par value OF g. 00 not disturbed ana so
It has remained until now when Atchson Company is
enabled to judge from practical experience ana knowledge
upon wha. terms to base equitable proposal 10 inc hou
ers for interchange OF securities.
Tho many complications arising from the control Of tho
Atlantic Pacific Railroad Company being exercised jointly
by tho Atchlson and the St. Louis San Francisco Com
panies, and the hOpelessness Of working under divided
ownership three railways really comprised In one system
OF which the Atlantic Pacific Railroad was an integral
portion, constituted the prime factors In determining the
Aehson Company to acquire tho stocks OF the St. Louis
San Francisco Company at the time t did So and thus to
remove all conflicting internal interests.
The Management OF the st. Louis and San Francisco
Railway Company decided issue New Consolidated
four per Gold Bond covering all Of its properties
equipment lands, and realities, IN amount s5OO0OOO OOO
subject only prior liens OF present outstanding mortgages
securing Bonds which Will be gradually retired by tho
operation Of their respective Sinking Funds and maturtos
and be replaced by the new Bonds
The present total outstanding Direct Mortgage Bond
issues Of the ST. Louis and san Francisco Railway Com
pany its and leased lines is ESQ 077,5o0 This
will leave 10000 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 complete the road and
to place the company and its properties in sound financial
and physical condition.
The ATCHIsON COMPANY will offer $4,000, 0OO
ofthe New Ronds of the st. Louis 81 san francisco
Railway Company. when issued. 10 the holders of -
Louis md San Frnncisco Railway Company's First
Preferred stock basis OF exchange of for par
each share OF stock being entitled TO 500 In the New
Bonds. These bonds draw Interest from October 1,
1850. ut four per cent. The Atcblson Company also
will extend this four per cent interest back TO Jauu
nry 1, 1890. that First Preferred stockholders,
upon surrender of their certificates of stock, will
cevc n the New Bonds and Int In cash ut four
per cent continuously from January !, 1890.
Holders of first Preferred stock of tho ~ Louis &
san Francisco Railway Company desiring make the
exchange proposed will please apply for blank forms
OF acceptance and for info desired the
Vice. President, % Milk ST., Boston.
GEORGE G. MAGOUN, Chairman.
J. w. REINHART, Vcc-President.