The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1891-04-20
ST.: Louis & San Francisco Railway
Company.

St. LOUIS gan frAnclScO halfway
Company.
The Circular No. "a, issued by the Atchlson
Company to its stockholders, and dated May
%, 1890, explained the manner in which the Com
MON and PREFERRED STOCKS OF the ST. LOUIS &
SAN FRANCISCO RAILWAY COMPANY were ex-
changed for stock Of the Atchison Company. It
further stated that the FIRST PREFERRED STOCK
Of tho ST. Louis & San francisco Railway Compa-
ny, being that held by ourselves, and amounting
to 5000 shares, Of the par value Of S4,50OO OO-
90, was not disturbed; and so it has remained I'M
til now, when the Atchison Company Is enabled
TO Judge, from practical experience and knowl-
edge, upon what terms to base an equitable pro-
posal to the holders for an interchange OF securi
ties.
The many complications arising from the con-
troll OF the Atlantic & Pacific Railway Company
being exercised jointly by the Atchison and the
st. Louis & San Francisco Companies, and the
hopelessness Of working under divided owner
ship, three railways really comprised in one sys-
an integral portion constituted the prime factors
in determining the Atchison Company to acquire
the stocks Of the st. Louis q San Francisco Com
pany at the time it did co. and thus to remove ali
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
ering all Of Its properties, equipment lands, and
realizes, in amount 0,0O0, 10000, subject only
to prior liens OF present outstanding mortgages,
securing Bonds which win 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 RAJ Company on Its own and leased lines is
New Consolidated four per cent. Gold Bonds
available for the following purposes:-
To provide for retirement OF $500, 10000 At
lantic s. Pacific Railroad Company's Second Mort
gage six per cent. Bonds, guaranteed both for
Principal and Interest by the st. Louis & San
complete and proper facilities and machinery
with which TO conduct operations in the nature OF
Round Houses. Machine Shops, Station and other
complete the road and to place the Company and
dltlon.
The Afchison Company will offer So
500 100000 of the New Bonds of the -.
Loui. a San Francisco Railway Compa-
nay, when issued. 10 the holders of So Leafs
a. San Francisco Railway Company
First Preferred stock ON n basis of ex-
change 81 par 70 Ter PoG each share Of stock
These bonds draw Interest from October
I, 1880, mt four per cent. The Atchison
Company also will extend this four per
cent. interest back 90 January 4, 1890, so
that First Preferred Stockholders, upon
surrender OF their certificates of stock,
will receive Par in the New Bonds and I'm
terest in cash mt four cent. continuously
from January 4, 1880.
Holders OF First Preferred stock of the
81. Louis a. San Francisco Railway Com
Pany desiring 90 make the exchange pro
posed Will please apply for blank forms of
acceptance and for any information de-
sired, 60 the vice-Presidenf, 95 Milk So,
GEORGE Q. mAGOUN, Chairman.
apl7 d6t