The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1893-06-06
BUSINESS NOTICES.
NORFOLK AND wRsTERN RAITRO.0
In COMPANY

PHILADELPHIA, June ], 1893.
10 Tue snars holders OF the Norfolk and Western
In the last annual report to the shareholders.
presented At meeting held May 81 last. II was
stated that at the close OF the year 1872 the com
peny had in its treasury or In lie use ms
So,9so,eOO OF Its 1OCyear mortgage bonds and had
outstanding bills payable amounting to S7SS, ms:
tnat the collateral loan or $2,UQ00lU was payabIe
December 81, 1898, and that S525 5000 convertible
aeoenture bonds would be payable January Is.
1884; and it was further stated that arrape ements
of these obligations.
TO meet these obligations and those incurred
IN IN properly completing the Ohio extension and
tne columbus terminal, to provide for the cash
payments due on car trust obligations and new
holders ~ ''e' " '"e enaee
.ssS;99ooCoj of it's lOCyear mortgage bonds, and
SoyoJoO, OF preferred shares, for S. $50 900 cash
and accrued interest on the bonds
nc shareholdeIs to have the privilege to pur-
chase for every 100 shares of common or preferred
on juno l3, 1Sl3 " LEAN
N,tOo of lo0y year bonds and 10 shares OF pre-
bond. va 'ne
Payable 10 per cent at the time of subscription.
which date the shares viii be deyePaSIe and ,bn
remaining u per cent and accrued interest IN the
deliverable VIZ ''"us VIII We
The right to purchase will expire June 10. lsas.
AZ D. m, and may he exercised AT the office of
at the office OF Messrs Vivian, gray & 20 s,S os
company's London Correspondence 10 Throw row
morton avenue, London.
Assignable receipts will be given for tho srs,
TWO payments, which must be surrendered when
certificates OF stock are delivered ami receint
VIII nc given Tor the third payment, which must
he surrendered when the final payment is m AIDE
and the bonds are delivered
SUBSCRIPTION blanks and forms for assignment
Vi tlSnts can Oe OBTAINED at either OF the above
named offices.
Transfer books will close June IS and rcopen
Arrangements have been made with A guarantee
Synolcate, VINO nave agreed to take AID nav for
al the ponds and shares not subscribed for by the
snareholuere,and the company IL thereby assured
that ample provision has been made for lis iinan-
cial requirements and that upon the completion
free OF all floating indebtedness and have annie
working capital.
The lOOyear mortgage bonds bear per cent.
interest, payable semi. annually j., nuary LIST and
July LIST. and arc first mortgage upon the Ohio
extension, i!2 miles in length; the steel bridge
across the ohio river; upon II miles OF the Norm
Carolina extension; upon various other short
pranches; and npon the extensive terminals nj
Lanoe r. point and Norfolk formerly the prop
cry OF the Norfolk Terminal Company. ttctc
representing cash expenditures OF over $1,000.
w: ana IL liz also general mortgage. subject TO
prior mortgages, upon the remaining property of
the company ut the date OF the n ortga.te October
1851, the mileage covered by the mortgage being
The mortgage is for sis,0C0.OcO, OF which sos.
uGOf00 arc held by tho trustee 10 retire nrjor
,nI Ea after which the looycar mortgage
The present proposed TRANSACTION beree wl S Si
outstanding of these bonds Si50ti5.too
inc gross earnings OF the company have in.
creased IRON S2,26I,2SS in 1851 to 50 g12 81 in
iS:2, and the net earnings from l,loi Uji In
1881 TO S31lS,2'5 III 1851, hut OH occount Of the
general business depression and tho on, ration of
n, miles of new road OH which the traffic de-
vediopmcnt had but begun, the net earnings i'm
, ,S were only Saaal,2J Notwithstanding which
the surplns income for the year, after the pay.
ment OF all fixed charges, was $72G,3I3.
inc exceptional severity of the weather during
the first two months OF the present wear caused \
slight railing on In earnings and an increase In
operating expenses, but the results OF the opcra.
tion or your line since then have been very salts
factory, ant! there is every reason to believe that
the surplus income over fixed charges for the
year lSti, notwithstanding the increased interest
income OF the preceding year, and thie without
counting on any net revenue during 1873 from
the ohio extension, lately opened, the traffic on
which IL increasing and gives promise OF great
expansion in the immediate future.
by order vi ilc board.
+. j. KIMBALL,
% anu President.