New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-04-21
financial.
TO THE HOLDERS OF BONDS
OF THE
Lake Shore & Michigan Southern
Railway Company.
flnanrlat,


gan Southern Railway Company and ourselves we make
the following offer OF exchange into NEW By PER
CENT 1OO-YEAR GOLD BONDS to the holders OF
the existing Issues mentioned below:
will the date hereof UNTIL,
FURTHER NOTICE. Bonds OF such issues. both
Registered and Coupon dhe latter having attached thereto
all Coupons maturing after June ls lo1. and thereafter
3a per Bonds the price of l02i2 will be de-
existing Bonds the computation as
June ist 1897 ga per annual interest payable
semi ANNUALLY viz:
For every $1,000 BUFFALO & ERIE RAILROAD
COMPANY PER CENT. MORTGAGE BOND.
due April lst 1898 worth 80 cent interest basis.
OF June 1st 1897 sl0iOo6 the holder will be entitled.
at 1921 to 81 Ola 30 in the new 3a per Bonds
For every 81 900 LAKE SHORE RAILWAY COM
PANY PER CENT. MORTGAGE BOND. due
April l. 1899 tworth 315 cent interest basis.
1897. Sl073 49, the holder will be entitled, at
iO2l, to 81 O47 o2 IN the new 3H pc. Bonds.
For every $1,000 LAKE SHORE & MICHIGAN
SOUTHERN RAILWAY co. 10 CONSOLIDATED
MORTGAGE AND SINKING FUND COUPON
BOND. due July l. 1900 (worth ga per cent in
teres basis June t. 1897 ST. o56 the holder will
be entitled 1924. to 81 1902 eS in the 3 cent
Bonds.
For every 81 900 Of the same issue REGISTERED
BOND, on which the April lst 1897 interest to the
amount Of ~ per be collected by the registered
owner directly from the Railway Company (worth ST.
100 So sl75O-s O6. the holder will be entitled.
at 1924 to 81. os5 81 in the new 81 per cent Bonds
For every $1,000 LAKE SHORE & MICHIGAN
GAGE BOND, due December l. 1903 worth on s1a per
cent interest basis OF June 1. 1897. l9D. the
holder will entitled. l0217 to sll725s in the new
ga cent. Bonds
We will receive Registered Bonds only when duly en-
dorset in blank; thereon payable
before 1897 will be collected and be received by
the registered directly from the Railway Company
The exchange will be made Of the first day OF June
1897 from which date the Bonds will bear interest
The NEW BONDS to be delivered by US in exchange
part the principal sum
OF 900 to be made by the Lake Shore and Michigan
Southern Railway Company. dated June LIST, 1897 and
payable June is 1897 with interest at the rate OF Ss
per per snnuam payable semiannualy both prin-
cpal and interest being payable in United States Gold
present standard OF weight and neness and
will be secured by mortgage about to he made BY the
Railway Company. r..p~
The MORTGAGE will provide that al OF the above
Of existing bonds to be paid maturity.
that thereafter tie 3e9s Bonds will be secured by
upon railroads. leasehod interests equip
ment franchises and income OWNED or hereafter
acquired by the Lake Shore Michigan Southern Railway
Company Until complete satisfaction discharge
each OF the existing Mortgages above mentioned the
bonds secured by such Mortgage will be held by the
Trustee Of tho Mortgage and will be kept alive
additional security for the Bonds to be issued there
under.
Upon exchange resulting the right of the de-
positor TO receive fraction OF Bond, will buy
such fraction the price OF l04 at the option Of the
depostor. will sell him the price the frac-
ton necessary 10 complete Bond for $1,000.
for each deposit Of existing Bonds will
issue our RECEIPT, showing the description and
such bonds deposited and the amount OF
received from paid with respect fraction
OF a Bond the CT Bonds to which the
holder Will be entitled
The existing Bonds deposited with will be lodged by
US with the CONTINENTAL TRUST COMPANY of the
City OF New York. which viii hod the same Gus
todan under made with for protec-
ton parties Upon presentation OF our
Receipts the said Trust Company after the day
following the thereof will stamp the
holds under said agreement with
existing Bonds of the and description stated
such Receipts respectively.
The Trust Company will all existing Bonds so
deposited with 1t unless in OF resxchange herein
after provided until the shall be exchanged for
new Bonds be issued by the Railway Company; and
Bonds shall be received by It, will
liver same upon surrender OF Receipts
calling for equivalent amount
the Bonds legally Issued according
will be given thereof upon presentation sur
entitled to receive 32 per Bonds
stated therein
II for any the Railway Company shall not have
delivered the proposed Bonds before the thirty
day Of July 1897 then and such existing
Bonds deposited with OF the and description
stated in our Receipts will be through
holders upon thereof. repayment being made
by the respective parties OF the OF cash received
set forth in said receipt
Marc