The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1893-06-04
BUSINESS NOTICES.
NORFOLK AND WESTERN RAIIHO10
~ COMPANY
= II.
~ . PHILADELPHIA, June :, ISa3
10 inc snare holders OF the Norfolk and Western
RnilrOad COmnonv. $50" 'SStS4A

~ COMPANY.
-, PHILADELPHIA, June 1904
10 me shSrt holders OF the Norfolk and Western
Railroad Company:
In the last annual report 10 the shareholders
presented ~ meeting held NAV "a In, !. ,re.
stated that ~ the close Of the wear lS.2 Inc con,
pany nad III Its treasury in lis Use as collateral
outstanding bills payable amounting 70 S;Ss no..
inst the collateral loan or $4,000 was pavahle
Reesmoes 81, 1893 aud that $525Coo convertible
ucnchture bonds would he payable January IL
lSi; and II was further state that arrangement
would oe made during the year for the fuudiug
10 meet these obligations and those Incurred
III properly completing the Ohio extension and
the Columbus terminal, to provide for tho cash
PdSmehts que on car trust obligations and u,w
roiing stock, and for working capital yonr board
OF directors has decided 10 offer 10 The share,
,S5,o1CoJ of its 1cc.ycar mortgage bonds. and
SoSo w oi preferred shares for So 30 900 cas-
ana accrued interest on the bonds
The shareholders to have the priyilecc 70 mr.
chase Tor every ioV shares OF com or preferred
shares, or part thereof, registered in their names
fltoo OF loO.year bonds and 10 shares Of nre
erre0 STOCK Tor Si,O59 and accrued interest on the
Payable 10 per cent. at the time Of subsc-;n,;o,
10 per cent June -, 10 per cent September 80 nj
wnicn aatc inc shares will be deliverable and the
remaining per cent. and accrued interest on m .
deliverable. "'i' 'e
The right to purchase will expire June Is. ls,s,
NJ : y. m, ana may he exercised at the Office Of
INC treasurer OF the company In Philadelphia or
at the Office OF Messrs Vivian, GRAY IL % rhn
company London correspondentsl, 10 Throg.
Assignablc receipts will be given for tho rrs,
TWO payments, which muet he surrendered when
cerilncates OF stock are delivered, and recein-
VIII he given for the third payment, which nus
ne surrendered when tho final payment liz made
ana the bonds are delivered.
Subscription blanks and forms for ossi,rr,.r,
Oh rlehts can he obtained ~ either OF the above
lmcd Offices.
Transfer books will close Jupc ~ ,rd -.,.
June p, 1898. N ~'i'0N
Announcements have been made with a guarantee
syh1lcate, VINO have agreed 10 take and nav FOR
az INC oohus ana shares not subscribe for hy tho
shareholders, and the company is thereby red
that ample provision has been made tor its finan.
cial requirements, and that upon tho completion
OF the transaction the COMPANY will he eptjrni,
free OF all boating indebtedness and have nnnic
working capital.
me l0Jyear mortgage bonds bear per cent
intcrest' payable sclni.nnnually January lst and
july LIST, and are first mortgage upon the Ohio
extension, 1o2 miles in length: the s;cei bridr.
across the ohio river; upon Il miles OF The Nor.b
Saroina extension; upon various other short
prahches and mlon the extensive terminals NJ
crty OF the Norfolk Terminal COMPANY incspo
representing cash expenditures OF over $40 0I0
~; anu 1t Is also general mortgage, subject 10
pflor mortgages, uI on the remaining ironer,v or
the company ut the date of the MORTGAGE tlctcber
a dsS' thc mileage covered by the mortgage being
-, The mortgage is for SIS, Oo0.OoO of which -,
usu,,oo are held by the trustee 10 retire prior
u. m9,fItsases, niter which the l00year mortgage
-,
The present proposed transaction there will hr
outstanding OF these bonds $lj.0j5,(00
INC gross earnings of the company have in
creased from S!,sd1,2SS in 1851 10 50 952 81 in
iSt2, ana the net earnings from 81 10, Osr in
lssi 20 S5,l's2'o IN ISL but on occouut OF the
general business depression and the operation ~
u mics or new road, on which the traffic do
yclopmcnt had but began, the net cnrn.po. i,
~? were only S2,..l2y9, notw .thstandinc Which
tne surplus income for the year. after INC pay.
mert OF all liked charges was $7aG.3iS. '"'
ne exceptional severity OF the weather durir,
INC ilfst TWO months OF the present year cau.rd ,
sllSht railing or III earnings and an Uucrc,-. IN
operating expenses. hut the results OF the oncra
non OF yonr line since then have been very salts
factory an! there is every reason to believe rha.
the surplus income over liked charges for no
year ISL, Notwithstanding the increased interest
payments, Will equal, II not exceed the snrnIns
Income of the preceding year and his ,yitho|,
coming on any net revenue during 1873 from
t . emo no extension, lately opened, the trafc on
expansion in the immediate future.
~ order OF .hc board.
n, +. j. kiMBALL,
W 'i-'' President.