New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-01-04
New.York. Lake Erie and Western
Railroad Company:

Railroad Company:
your directors have heretofore pointed ont ID me """'
r,or.s that, while your Company Is necessarily o''s''
, ,r :, make considerable expenditures 10 the
protection II It's property and Development OF ''s '"'
portaon facilities the basis On when "' '','"S "
oor,zod leaves II entirely without the power TO raise
means for such expenditures Some few assets '' i'''
,, ,, tho treasury Of tho Company from time To time
have been Disposed and their proceeds nave oe" '
8, far as they go; hut receipts from 'h's Sou
have Of course been totally insufficient ana Tor I'M"
rcoson vour Company for some years past "'s wv"
,ri.,of with a constantly Increasing floating DEBT now
amounting 10 nearly 100000. exclusive oil '''""''''
Of Car Trust obligations
r,o towns and pecular conditions Of the Companys
Second Consolidated Mortgage have practically p'''"'H
,, r,u.nv from securing the necessary funds 10y any
other mortgage security and IT has been ih'''m." "
Won in the annual reports that TINS '''t was """'
hiring embarrassment upon ti" corporation anu s''"
-, ,,. ir.re.s OF the Second Mortgage b'ndioId"ts
The financial conditions ~ the past summer em''.''
the existing situation and necessi'a''d '"e p"'s "
co,nuonv under the protection "t t''''N''S"'' '
p.,.rs derived u any for ordinary be''tn"h'
- ,,,.s and +, meet maturing trust obligations
have been Obliged adopt the course which the ''h"
iecr n In possession = Its property WOMB "''"
have adopted ny seeking RELIEF fh'o'Eh """'', "
,,e, Of interest the Sec NJ Consolidated Mortgage
bonds. ., 49,,
II Is true that the conditions w'l'h have ''"'' W.
company wcr. contemplated as a. i's'.H"'F III w. |
- the reorganization IN - WYNN 49,. 49,, -, ,,a
dated Mortgage was c''""'. "'' WI" "a, o,, ,f.,,
no foreclosure rgats should accrue To- TIE D''l'
unlcs, The Company sh.r'l l"far IN ir 'n'''' ~
sicc.ssec coupons. Th's peculiar provision N"s ~ |
limos lie, rived ,le Sec0nl Mortgage bonds u ie "'
character they wouI ie entitled - under ""i''F ''
clmsianc"s AMI u the ''f''n,'
pnnJ had been 'ot'"7 p'.''' .,.,...,, ,rnl, by de-
mul,lns IN icr,~, Obligations g. 81 course d's',r'i
io o., the Company AMI disastrous 20 - Second M'''
| gage i'adhoiIera ana 'he 't-'''iF 81 by, 80
any ''' " .,,i,. 80 recurrence T.
'nf ~ ~ - No. ,.
80, 49, -. -, ,...,s .,,.r o., ,..,r directors.
D.. , ,te ,e..ri'f
49,, ..n , ,,v n.,. ..,si,,ei un, SAB
''1 ...,., an. ,. o,,i .i..l.,. to .,-
'"'" co., a.. ., I'D, .t.,r g., is proposed
'r''S o''''''''' " .' '',' 80, . g.. -, n.,r
" 80 - -. o,., y,.,.. ,r~ rr~..ri
~" , :, -. ..t ,.,,.I, a,i~r bonds
t - -, ,..- t.i.,. .se nov rn.-i.
az 49,, ...'.., . .u ..,,,. ,,. il cash.
'nl :, give aleisa,. fr. ..r~ rights 60 ca-- = 81,
lef,ul, TIE nm.ur' - ia" -" A" 'f'f~S~ ",' ''.
fAc company - Us" '''.''' '.''
ne ,>i.,'ug ca- Trl.. sal 10 MAILING additions g. ''
properly - 'n "''""'''' ''
hD''"s de'f n.''' "''' n.. .t.,.,.,..
, 10 ,oat. ui,i.i, ., ,r...'.' Increasing 'hs i,'l
ciase.s of tie Company f1i ".'.l. '''''' W."
vitain e." ~arn.r1 '.4'.i' " '"
'h'
I'll. noe. ,,.r.r.g 81. VII -0r.- ii- gr0re-'i = 3D." Hrw
! York. IIi" Erie nni Weston I.''.'.' '
Guiding Us l~ss-l i . ~ ''- .N.t. ~ '-' wanna PIT,
.,n.la, p. s3oo-c-' t'sHs ..''r'r' a " lf- '"' go
rayat.. 7a el oir of 'e i''..'' '''"a.'a % visit
sas.5m 10, g. ar.a.'' "e rr..e' 80 '"'.''
Ln.an o.. "~"r Second '.".i''''.i V f'@ So "''
roue'' - f'r e.".' 'i'a'4 "' '''' ''' ''