New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-04-10
financial.
financial.
TO THE HOLDERS OF BONDS
OF THE
Lake Shore & Michigan Southern
Railway Company.

ryd., a. arr..m.nt between the Lake Shore MIchi-
gan Aouhern Railway Company and ourselves we make
the following offer OF exchange into NEW ~ FER
CENT. 1OO-YEAR GOLD BONDS 10 the hoiders OF
the existing issues mentioned below;
We will receive from the date hereof UNTIL
FURTHER NOTICE. Bonds OF such issues ooth
Registered and Coupon he latter having attached thereto
al Coupons maturing after June ls ls9U ana
3a per cent Bonds the price OF lO21s VIII De de-
for the existing BoSds upon the computation. as
Of June ist 1897 OF 3s cent annual interest payao's
semi annually. VIZ:
For every $1,000 BUFFALO & ERIE RAILROAD
COMPANY PER CENT. MORTGAGE BoND'
due April 1s 1893 tworth 3is cent interest basis
as OF June Ist 1897 S. O4oOe the holder will be entitled
1924 to 81 OLA. 10 the So per cent. Bonds
For every 8. 900 LAKE SHORE RAILWAY COM
PANY PER CENT. MORTGAGE BOND. due
April l. a az per interest basis. as
OF June 1897 sl073 i0 the holder Will be entitled al
l12il to 81 O47 O2 IN the 81 per cent. Bonds.
rsr every $1,000 LAKE SHORE & MICHIGAN
SOUTHERN RAILWAY co. 7gd CONSOLIDATED
MORTGAGE AND SINKING FUND COUPON
BOND, due July /. 1900 worth 3ia per cent in
teres basis OF 1897 ST. 3o56) the holder will
be entitled 1O2s to 81 1O29s in the new 3'a per cent
Bonds
For every $1,000 OF the same issue REGISTERED
BOND, which the April LIST. 1891 interest TO the
OF ~ per will be collected by the registered
owner directly from the Railway Company tworth 81
100 Sc less si75O=s 1900. the holder Will be entitled
at 1921 to 81 Os59 in the new 3'4 per cent Bonds
For every 81 900 LAKE SHORE & MICHIGAN
SOUTHERN RAILWAY co. 20 SECOND MORT
GAGE BOND, due December l. 1908 worth on 3ls per
cent interest basis OF June !. 1897. i9D, the
holder will be entitled 1924 to $,i72So In the new
81 per Bonds
We will receive Registered Bonds only when duly en-
dorsed blank: all thereon payable on or
1897 will be collected and be received by
the registered owner directly from the Railway Company
The exchange be made OF the first day OF June.
1897 from which date the Bonds VIII bear interest
The NEW BONDS to be delivered by us in exchange
vii. part for the aggregate principal sum
Of $4,000 to by Lake Shore and Michigan
Southern Railway Company. dated June list, 1897 and
payable 1897, with interest at the rate or 3ls
per per payable semi annually both pr'n-
cpa. and interest being payable in United states Colo
Coin OF the present standard weight and neness 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 are PAID maturity so
that thereafter the 3 Bonds will be secured by
First upon railroads. ieasehod interests equip
nent franchises and income now owned or hereafter
acquired by Lake Shore Michigan Southern Hallway
Company Until complete satisfaction and discharge
Of each OF the existing Mortgages above mentioned the
bonds secured by Mortgage will be held by the
Trustee Of the Mortgage and viii be Kept alive as
security Tor the Bonds to be issued there
under.
Upon every exchange resulting in the right OF the de-
postor to receive fraction Of new Bond We will buy
such fraction at price Of 1914 at the option OF the
denosito We will sell to him the price the frac
ton necessary to complete Bond for $1,000
In exchange for deposit OF existing Bonds we VIII
issue our RECEIPT. showing the description and
such bonds deposited ana the amour, OF cash
received from or paid 10 with respec, 10 any fractioA
OF A Bond and the Of new Bonds to which the
holder Will be entitled.
The existing Bonds deposited with will be lodged by
rs with the CONTINENTAL. TRUST COMPANY, OF the
CITY OF New York. which will ho:d the same as Gus
todinn under an agreement made with for the protec
ton Of all parties Upon presentation OF our
Receipts 10 the Trust Company on or after the day
allowing tn. date thereof. will stamp the same to the
effect that 1t holds under its said agreement with US
existing Bonds the amount and description stated In
such Receipts respectively.
The Trust Company Will retain all existing Bonds SO
deposited with unless OF reexchange as herein
after provided until the shall be exchanged for the
new Bonds to be issued by the Railway Company: and
after such Eonds shall be received by It, will de-
liver the upon surrender OF our receipts
calling for an equivalent amount.
As soon as the Bonds legally issued. according
10 our Agreement with the Railway Company. due notice
will he given thereof. and presentation and sur
render Of our Receipts office. the holders Will be
entitled 10 receive said 81. cent Gold Bonds.
stated therein.
II for any Railway Company shall not have
delivered proposed Bonds on or before the thirty
first day OF July 1891 then and in such event existing
Bonds deposited with us o. the amount and description
stated In our Receipts will be returned through US TO the
holders upon surrender thereof repayment being made
by the respective parties OF The amount OF cash received
as set faith in said receipt.
Mar