New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-03-28
financial.
TO THE HOLDERS OF BONDS
OF THE
Lake Shore & Michigan Southern
Railway Company.

Under an agreement between the Lake Shore and Michi
Southern Railway Company and ourselves, we HaHs
the following OFFER Of exchange into NEW Sa PER
CENT. 1OO-YEAR GOLD BONDS to the holders OF
the existing issues menr)ned below;
We Will receive from date hereof UNTIL
FURTHER NOTICE. Bonds Of such issues. both
Registered and Coupon the latter having attached thereto
all Coupons maturing 1870 and thereafter
new sa cent Bonds the price OF 1921 will be de-
vered FOR the existing Bonds the computation as
OF June 1897 Of 81 per interest payable
semi annually.
For every 81. 900 BUFFALO & ERIE RAILROAD
COMPANY PER CENT. MORTGAGE BOND.
due April ls 1898 worth 3 cent interest basis.
OF June 1891 5000 oG the holder will be entitled
1929. to s1.oi4.7o the 80 per Bonds
For every $1,000 LAKE SHORE RAILWAY CON-
PANY PER CENT. MORTGAGE BOND. due
April T. 1899 worth si4 interest basis as
1891 81 013 49, holder vii. be entitled al
1921 si047o2 m the 24 per cert. Bonds.
10 every $1,000 LAKE SHORE MICHIGAN
SOUTHERN RAILWAY co. 70 CONSOLIDATED
MORTGAGE AND SINKING FUND COUPON
BOND, due July /. 1900 worth 81 per cent In
teres basis 1871 81 5@. the holder will
be entitled. at io24 to sio29s IN the new 3 per cent
Bonds.
For every $1,000 0, tn. issue REGISTERED
BOND. which the April lst. 1897. Interest 70 the
ls4 per collected by the registered
owre- directly from the Railway Company tworth 81
1886 less si7J-sii30D the holder will be entitled
AZ 1924. % 81 0s5 81 In the new 81 cent Bonds
For every $1,000 LAKE SHORE & MICHIGAN
SOUTHERN HALLWAY co. ~ SECOND MORT
GAGE BOND. due December l. 1903 worth on 81 per
cent Interest basis t. 1907 81 2oi.9D. the
holder Will be entitled at l02ls. to sllI2o9 in the new
80 per Bonds.
We Will receive Registered Bonds only when duly en-
dorsei In blank but all Interest thereon payable on or
before June 1881. viii be collected and be received BY
the registered directly from the Railway Company
The exchange VIII be made OF the first day Of june
1897 from which Bonds VIII bear interest.
The NEW BONDS 10 be delivered by rs IN exchange
vii part Of an Issue FOR the aggregate principal
n so Lake Shore and Michigan
Southern Railway Company dated June ist 1891 and
payable June st. 1891 with interest at the rate OF ~
per per annur. payable semi-annuaily: both prn
cipal and being payable In United States Gold
Coin Of the standard Of weight and fneness and
Will be secured by mortgage about to be made by the
Railway Company.
The MORTGAGE will provide that all Of the above
issues OF existing bonds be paid at maturity. so
that thereafter the 3zc Bonds Will be secured by
First Mortgage upon railroads. easehold interests equip
ment. franchises. and income owned or hereafter
acquired by the Lake Shore Michigan Southern Railway
Company. Untl the complete satisfaction and discharge
Of the existing Mortgages above mentioned the
bonds secured by such Mortgage Will be held by tho
Of the Mortgage ard will be kept alive
security FOR the Bonds TO be issued there
under.
Upon every exchange resulting in the right Of the de-
positor receive fraction % Bond will buy
such price io4. or option Of the
depostor. will sell 20 the price the frac
ton necessary TO complete 4 Bond for s1.ooO
In exchange ror each deposit OF existing Bonds will
issue our RECEIPT. showing the description ard
Of bonds deposited and the amount OF cash
paid with respect 70 any fraction
OF Bond and the Of Bonds TO which the
holder VIII be entitled
The existing Bonds deposited with will be lodged by
US with the CONTINENTAL TRUST COMPANY. OF the
City OF New York. which will hold the Gus
todan under an agreement made with FOR the
ton Of all par;e. In Upon presentation Of
Receipts 10 Trust Company after the day
following thereof will stamp the 10 the
effect that Il holds under its said agreement with
Bonds OF and description stated in
Receipts respectively
The Trust Company viii retain all existing Bonds
deposited with rless in 81 reexchange herein
after provided shall be exchanged for the
new Bonds be issued by the Railway Company; and
such Bonds shall be received by It, will do
liver upon surrender Of our Receipts
calling for equivalent amount
As soon Bonds legally issued. according
our Agreement with the Railway Company. due notice
vii! be given thereof and upon presentation and
render Of our Receipts Office the holders will be
entitled 70 said 81 per Gold Bonds
stated therein.
I. any the Railway Company shall not have
delivered the proposed before the thirty
nrst day OF July 1897 such event existing
Bonds deposited % the amount ard description
stated IN our Receipts returned through 70 the
holders upon thereof. repayment being made
by the respective parties Of The amount Of cash received
as forth n said receipt.
NEW YORK March 90 1897.