The sun. [volume] (New York [N.Y.]) 1833-1916, 1896-12-11
s2,sOO.OOO.
900.
The Toledo Traction Company
Consolidated First Mortgage
Five Per Cent. Gold Bonds.
DATED JULY Il, 1909. pUEJULY1 4, 1000.
INTEREST NuA AND July 1.
Principai and Interest payable in Cold Cola
OF the present standard OF weight
and nneness, in New York.
Coupon Bonds of 81. o Each,
with privilege OF registration OF principal.
Guaranty Trust Company OF New York, Trustee.

The Toledo Traction Company owns and operates
all tho street railways in the City OF Toledo, com.
priSing about 100 miles OF single track. and through
the Toledo Consolidated Electric Company and the
Western Electric Light and Power Company. controls
practically all the electric lighting, public and pri.
vate, and power business.
= The above bonds, of an Issue OF IS. 900. 900, arc 20.
cured by n mortgage to the Guaranty Trust Company
Of New York, covering nll the property, rights, and
franchises OF The Traction Company now owned or
hereafter acquired, also by separate Deed Of Trust.
all the property, rights, and franchises OF the Electric
Companies now owned or hereafter acquired. BY
this issue all the bonds OF tho System aso retired and
cancelled. except divisional liens of some OF tho
Companies forming the Traction Company. amount
Ing to se.2Oo,oo0. covering parts of the property. and
against which Consolidated Bonds OF an equal
amount are reserved with the Trustee.
The present issue OF bonds ia tho nrst and only
mortgage OF The Toledo Traction Company and
covera the entire property OF the System. subject to
the divisional liens as stated. The Chairman OF tho
Board OF Directors in his letter to us. copy OF which
we Will furnish upon application. states. the Com.
pany owns real estate appraised at about 81 900. 900,
and this issue of bonds is n nrst lien on about $500.
600 OF this real estate, including the new Central
Power Station, also upon several lines OF railway
and a large amount OF equipment, and upon all tho
lighting franchises and property. and upon the under.
ground conduit system, together with all future 40.
quired property. Provision 10 made in the MORTGAGE
for the issue OF an additional 81. 900. 900 bonds for fu-
ture extensions and improvements, but only at the
rate OF 7o per cent. of the actual cost OF such expen-
ditures. Tho mortgage Also provides for the re.
demption OF any of the bonds at los at any interest
period on giving 80 days notice by publication.
The statement OF earnings submitted shows that
the combined earnings of the railway companies
forming Tho Toledo Traction Company and tho Eiec.
trio Light Companies for the year ending June 8otn.
1926, previous to the consolidation. were. gross, 1910.
ala; net, after deducting taxes and all other charges.
S342. e2l. and that the present annual interest charges
are S2bt. 100.
The earnings of the Companies for years past have
shown ontinuousincreases 1t 10 estimated that the
gross earnings for the coming year will exceed
ties and with tho railway and electric lighting ope-.
rated from the new and complete Central Power Sta
tion, the net earnings arc expected to exceed $780,
900. or nearly double the annual interest chargea
The population OF the city of Toledo, based on tho
registration OF 1895. Is estimated at 100, 900.
Through Its great natural advantages It 10 an impor.
tant manufacturing and distributing centre and 10
increasing steadily in wealth and population.
We offer for subscription Sc o 900 OF
these bonds at % and Interest. The sub
scriPtion will BIO opened on Tuesday. De-
cember 18th, at 10 O'Clock A. M. closed on
Wednesday. December 16th, Mt o O'Clock
subscription aud TO aIiot less than the
amount applied for.
Guaranty Trust Co. Blair & Co.,
of New York, IS wall x4W S STREET
Go CEDAR STREET. n. Y.