New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-21
The Union Pacific Rail-
way Company.
EXECUTIVE DEPARTMENT.
Boston, Aug. 3, 1898.
TO the Holders of the SO Bonds Sc
cured by the Sinking Fund Mortgage
Of the Union Pacific Railroad TO-,
of December Is, 1873:

The bonds secured by the mortgage above referred to
become due sept. /. next On Jan. !, ls'5' tn'r'
were outstanding bonds To the amount OF s1l'ooJo Al
the same time there were the hands Of the Union
Trust Company Of New.Yofk the Trustee under the
mortgage. unnvcsteh balances applcabl" to the redemption
Of said bonds amounting to 500, during the
period from January first 10 Sepclc' ft of the current
year, IL " estimated that further remittance" derived from
the sales OF Land payments bills receivable. etc, Will
BE- made the TRUSTEE to the amount Of about 7'OoocO
IL i believed, Therefore chat At the maturity Of he loan
the Iru.tec will have In hand about G61I2 for OPP
pcation to such part o the debt may b. held by per
who may then wish 10 Icccyo payment The appi
cation Of these viii riucr the d"t 10 @311l tH ~
Against this balance oi indebtedness the Railway tom
pany holds contract. made by former pnfhas -
OF lands secured by the and Ia respect N which they
made (which however, are only released by IN"
Trustee receipt by 10 OF the fn amount ~ the con-
sidriaion) the amount Of which September ls, neat
making allowance for collections 10 D." MAJ" ~ thu
interval. will Approximate S3JG".902 ~. In addition t.
the the Trustee Will ala holt the
unsod lands the estimated value u which i t3o7h0p
This estimated value E, very con-eD alive being much
less than the appraised aud selling value. IN" value Of
the sccurty.-conract, aud un~oi lands ii'")2ls
exceed, the estimated lasne u the ndrb,clne,, *t75
3ai So by the ~ >" G77. 30.
The lands referred represent IA" uusoll portion 81
those granted to In!on Pacific Railroad Company IT,
Union Pacific Railway Company Is the successor
BY consolidation. IRE" from len othei
cumbrance cN,eptlng only debt ~ 5000 h" blanc"
No allowance has been mad in The FOREGOING si'"u"n
for possible far ~ purchasers 10 complete the p1y
ments provided for In their contracts II IL believed how
ever that not mors thnn 200 900 amount viii MT.
ms.ely be defaucd. But even II default b. mad" the
lands will become subject 10 ale and
viii exceed In value the du" upon them
Under the present mortgage the til" TO oil unsoli lind
land lands contract - vested
in the The proceeds OF all land sales
ore renlttsd directly 10 Trustee. applied IN
the Trust lndnture provided the purchase and
cer.on bond. secured hereunder. They do moi
pas, conipanS'> treasury. Meanwnur thr 1N""
on the unold land- the expenses OF advertising or m1k"
Ing the and the Interest tn out'tndng Doni~
have been paid pursuant the terms of the trust In
dcntuie ~ Railway COMPANY aud VIII continue = b"
laid by the Railway tompuny under the extension o4rro
ment.
Holders Of the bonds nsscn ina to the proposition
10 extend ARE requested TO immediately send their
DO nds to the MON Trust CO.. No. 80 broadway. New
York, IL. at the onice Of the mon Pncthc
RAILWAY TO-. No. 81 Ames Building. Boston, Mass,
for the purpose In ing the bonds Stamped and TO
enable the conpnny TO mix 10 coupon bonds the new
coupon sheets The Trust COMPANY will Issue its
receipts for all bonds thus deposited. mud will hold
said bond. until such n number thereof rave BEEN
deposited their extension guaranteed M will ennbc
IL 10 announce Tint the total amount Of bonds Inns been
pro ,ided for When the registered bonds shall have
been stamped. the Interest thereon will be RENTED 10
the Registered owners. hn- heretofore been the
practice.
To enable the company TO complet - its
and TO the extended coupon bonds the ncrr-snr,
ronpon sheets, holders OF such asserting bonds are
requested to present them n soon NJ possible
The september interest n bonds presented for rN-
tension will be paid on the presentation oil such bonds
for deposit.
THE TIME FOR EXTENSION or BONDS UNDER
THIS OFFER II LIMITED TO SEPT. 1sr, ANDTnE
AMOUNT THAT CAN DE EXTENDED - LIMITED
TO $500, 900.