The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1893-06-07
FOR SALE.
FoR SALE
one-horse G. & @. electric motor
Apply at TIMES office. Hist.
BUSINESS NOTICES.
NORFOLK AND WESTERN RAILROAD
~ COMPANY


~. PHILADELPHIA, June /, 1873.
10 ING snare holders OF the Norfolk and Western
railroad Company:
In the last annual repo,t IN tho sh.r,hoid,rs
presented al meeting held May I'd last, 1t was
STATED that at the close OF the year 1872 the com.
pany mad In Its treasury or in lie use AZ collateral
S1,a'S,09O OF it's 10c year mortgage bonds and had
outstanding bills payable amounting to S7SS 0aS:
nec. re ~ fS "a, loan or $1,000 was payable
dcOcnture bonds would DO payable January IL
1871; and 1t was further state that arrangements
oil these obligations.
10 meet thcso obligations and those incurred
In properly completing the Ohio extension and
the Columbus terminal, to provide for the caab
payments uue on car trust Obligai iOns and new
rolilng Stock aud for working capital, your board
or directors has decided To offer TO the share.
holders
9S6 " OF It's ioC, year mortgage bonds, and
and accrued interest on the bonds
The shareholders to have the privilege to pur-
chsse ior every l0O shares OF common or preferred
shaTcs OF part thorcOr, registered In their names
on June l3, 1StI.
Sl!O OF 100-te bonds and 10 shares of pre-
bond. 'e'0'' oH Tue
Payable 10 per cen l. ut the time of subscription
which date the shares viii be deliverable, and the
remaining ~ per cent and accrued interest on the
deliverable. "''' NC
The right to purchase will expire June H. 1893
NJ D. M, anu may he exercised at the office of
Mt the office OF Mcssrs. Vivian, GRAY Il 20. 1t6e
companys London correspondence 10 rhfov.
morton avenue London
Assignahlc receipts will be given for tho frat
TWO payments, which must lie surrendered when
certificates OF stock are delivered, and receipt
Will he given tor the third payment which mnst
he surrendered when the final payment il made
and the bonds arc delivered,
Subscription blanks and forms for assignment
Oh rights Gan he obtained NJ either OF the above
named offices.
Transfer books will close June IL and rconep
June Il, lS.ci.
Arrangements have been made with n guarantees
syndicate. who nave agreed to take AID pay for
al! the bonds and shares not subscribed FOR bv the
shareholders, and the company i thereby assured
that ample provision hes been made forit. iinan-
cial requirements, and that upon the completion
o INC transaction thc company will bc entirely
Tree or all lioating indebtedness and have ample
working capital.
The lOO.ycar mortgage bonds bear per cent
interest. payable semi annually j, nuary lst and
july lst. and are II first mortgage upon the Ohio
extension, 1872 miles in length: the steel bridge
across the ONO river upon l. miles OF the North
CatoIina cXtcnsion; upon various other short
branches: and mon tho extensive terminals nj
Lambert Point and Norfolk, formerly the prop
representing cash expenditures OF over SlOn?O
u u: and II IL also n general mortgage sutIvci Ia
hraor ,rtgases' uton the remaining property Of
iSS' The mileage covered by the mortgage being
Eli miles.
The mortgage t. for Slj 900 OOO. of which So =
oJOtpo arc held by the trustee To retire prior
mortgages, after which the lC0-ycar mortgage
", WI he a iitst morigagc Upon the completion OF
outstanding of these bonds $i5Ui5,tOO
The gross earnings of the company have in
creased from S1,26I,2SS in lSSl TO 50 g52 S>l in
le92, and the net earnings from 81 10. Oji in
1881 to $3,l1S,2a5 in 1871, hut on occount OF the
ycncrai business depression and the opo ration OF
II, miles of new road, OH which the traffic dc.
vcl0pmcnt had but begun, the net earnings in
ls'e were only S2,92l,2. Notwithstanding which
the surplus income for the year after tho nav.
ment or all liked charges, was $72G3I3
The exceptional severity OF the weather during
the irst two months or the present year caused a
n in nit.rs
operating expenses. hut the results OF tho opera
ton or your line since then have been very salts
factory. an! there il every reason to believe thut
the surplus income over fixed charges for the
year lS'ci. notwithstanding the increased interest
payments, Will equal, II not exceed. the surplus
income OF the preceding year, and this without
counting on any net revenue during ls.3 from
the ONO extension lately opened, the traffic on
which Il increasing and gives promise OF great
by Ordcr OF the board
+. j. kIMBALL