Morning journal and courier., 1892-12-12
THE CONsoLIDATED ROAD.

to the roads need OF ready cash TO pay
for all the big improvements it is making. |
Beside the new tracks, money is needed |
for the new terminals. A handsome sum
of money will be required as the COM
pany's proportion for the new depot to be
built in Providence. Over 100000, will
have to come forth to pay for the grand |
new Office building of the company in New
Haven.
In our interview with Vice President
Tuttls last evening he eaid: "The money
to be derived from the certificates is not
for taking up leased line stocks, but for
permanent engagements and improve
ments of the roads facilities for doing its
business. The plan for the exchange of
the certificates ia clearly stated in the cir
stock for that of leased lines upon the ba-
sis of dividends now guaranteed thereon"
The railroad company declared Saturday
its usual quarterly dividend of 81 per
cent.
At the funeral of the late Wilson Ct.
Hunt, in New York city Saturday, several
of the Consolidated road directors attend
ed, including Director Trowbridge of tLis
city. Mr.. Hunt was not director
of the company at the time of his death. 1
He was director for years, but one year
ago be resigned owing to his age.
The title of G. Fl. Platt has been changed
from general superintendent to general
manager.
Following is the full text of the circular
which is self explanatory:
OFFICE OF THE NEW YORK, NEW HAVEN
AND HARTFORD RAILROAD CoM p 20,
ISSUE OF CONVERTIBLE DEBENTURE CERTIFICATES.
The increase of traffic and earnings derived
from the expenditures for improvements of the
company's plant and equipment during the last
five years has been 50 manifest that its board OF
directors has determined to complete them as
anticipated cannot be realized until they are f1n
already been expended upon them, Of which eight
mil ions have been provided from increase of
capital stock. The board does not think it wise
to issue at par the company's stock upon which
immediate dividends at the present rate might
S OF 90 e or to
an interest adverse to the stockholders by issu-
ing mortgage bonds.
The company therefoge proposes to issue e, on
debenture certificates to an amount not exceed
ing fifteen millions OF dollars
certificates wilt be held as trust fund to be dis
For the
York division, including ths Harlem River
branch.
A'o"
| Haven and New London.
For terminals, notably at Providence, New
For ddtons to The motive power
and equipment, an extension Of its block signal
she of ahs aeS 81
| company already incurred for the above pur-
Notice is hereby given to the stockholders that
/ they may subscribe for these convertible de-
| benture certificates during the month Of March,
1893 in the proportion Of forty per cent of their
| then holdings Of the company's capital stock.
| Stockholders may assign their right to subscribe.
| cordance with the terms of this circular will be
disposed of by the board Of directors.
| The transfer books will be and remain closed
| during the month Of March.
As the proceeds Of these convertible debenture
certificates cannot at once be expended with ad
ments and negotiable receipts win be. issued
| therefor. These installments of twenty five Ca5)
per cent. will be payable as follows,
On the first of October, 1893.
| On the first of April, 1894
On the first of October, 1894
Interest on paid insta!ments will be payable
of four par cent per annum.
| When full payment has been made, in accord
debenture certificates Registered or coupon, at
| the option Of the holder) will be Issued in ex.
changeitherefor in denominations OF one Thousand
| hundred GoO doliars:vhen necessary bearing
The noder Of these will be-
| titled to exchange the same on the first
day of April 1903, or within sixty days
| thereafter and longer, for shares Of the cap
ital stock Of the company at par if not then sur
| rendered for exchange they will become due and
payable in cash, on the first day of April, 1908
| These certificate swill be counterslgn-d by the
| Farmers Loan g. Trust company as registrar.
| ISSUE OF STOCK FOR THAT OF LEASED LINES.
In accordance with the understanding in 1899,
| when the company was authorized to increase
| its capital stock, an opportunity will be given to
the holders of stock in its leased lines become
stockholders of this company during the months
| of January and February, 1898. They will there
| of March for convertible debenture certificates.
| This company will issue and deliver of its
| stock:
One share for one share of the New York,
| Providence and Boston Railroad company.
One share for one share Of the Hartford and
| Connecticut Valley Railroad company.
One share for eight shares OF the preferred
Four shares for thirt shares of the New
| Haven and Derby railroad company.
| One share for four shares of the Danbury aud
| Norwalk Railroad company.
And (with the approval of the committee pro
vded for by the company's amended charter:
| Two shares for five shares Of the stock OF the
| New Haven and Northampton company;
stock Of the Boston and New York Air Line Rail
| road company;
One share for one share of the Nausatuck
Tires shares for four shares of the Shore Line
railway.
| 10 erect exchange, Certlf1cateS OF Snaro5 IN
| either of the companies named must be assigned
| to the New York, New Haven and Hartford Rail
| road company, and deposited during the months
of January and February, 1898, at either of this
following places:
At the Office of the treasurer Of the N. Y, N
| H and h. r. R. Co. in the city Of New Haven.
At the transfer office of the company, Room g.
Grand Cantral depot, New York.
At the Office of Drexel, Morgan s. Co., % Wall
street New York.
At the Office of the Farmers Loan and Trust
company, q William street, New York.
At the Office of the general agent of the com
pany, Sears building, Room 20o, 10 the city OF
Boston.
At the office of A. R. Lougley, treasurer's
| agent, Union station, Providence, r. l.
| At the Office of the Springfield Institution for
Savings, 10 the city of Springfield, Mass.
| By order Of the board Of directors.
| CHARLES P. CLARK, President.
ALL TRAINS HERE NOW LEAVE THE UNION
DEPOT.
To-day the new timetable on the Con
solidated road goes into effect. About the
only important changes are with regard &c
the Housatonic division. The first Derby
railroad train out of the Union depot went
out yesterday morning. After this all the
Derby trains leave the Union depot.