New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-04-01
financial.
TO THE HOLDERS OF BONDS
OF THE
Lake Shore 4 Michigan Southern
Railway Company.

Under agreement the Lake Shore ana Michi
Southern Railway Company and ourselves we make
the following offer Of exchange into NEW 3if PER
CENT 1OO-YEAR GOLD BONDS to the holders OF
the existing issues mcnti)nei below
We will receive from the date hereof WITH.
FURTHER NOTICE. Bonds o. such issues. both
Registered and Coupon uhe latter having attached thereto
all Coupons maturing after LIST 1880. and thereafter
3ls per cent Bonds at the prce ot 02. will be de"
lversd FOR Bonds the computation ~
Of June list 1891 of 3s cent annual interest pay ao'e
semi ennually viz:
Fofevery 81 900 BUFFALO & ERIE RAILROAD
COMPANY . PER CENT MORTGAGE BOND.
due April 1st 1858 worth ga cent Interest basis
OF June lst 1897 g. $40 06 the holder VII! De eh'd
at 1927. to si.0i470 in the 81 per cent BONDS
For every $1,000 LAKE SHORE RAILWAY cow
PANY PER CENT. MORTGAGE bond. due
April l. 1899 worth So cent interest pass a.
Of June 1891 sl013l9 the holder Will be entitled at
1921 to sIoi7o2 IN the new 3's per cent. Bonds.
rs every $1,000 LAKE SHORE n MICHIGAN
SOUTHERN RAILWAY co. 70 CONSOLIDATED
MORTGAGE AND SINKING FUND totFoN
BOND, due July !. 1900 worth Sis per cent IN
,eres basis az OF June 1897 ST. 90 the holder will
he entitled. iO2s to 81 rs in the new ~ per cent
Bonis.
For every 81 900 OF the same issue REGISTERED
BOND, on which the April LIST. 1891. interest 10 the
amount OF Il, per cent will collected by the registered
owner directly from the Railway Company (vofth 81
80 sl75O-si 10 c0. the holder VIII he entitled
1922. to 81, Os5 ~ in the new 80 per cent bonds.
SOUTHERN RAILWAY GO. 70 SECOND MORT
GAGE BOND due December T. 1893 (woIth on 81 per
basis OF June \. 1891 sl2oi'''' the
VIII entitled. at iO2 =. 10 sl12"9 in the ne"
g. per cent. Bends.
w. Will receive Resietered Bonds only when dIiy en-
dorsed in blank: all thereon payable on or
1891. he collected and be received by
The registered directly from the Railway company
The exchang. will be OF the first day az june
1897 from which date Bonds Will bear interest.
70 he dol
Will be part OF IN issue aggregate principal sum
$50 100000 be made by the Lake Shore ana M'lIah
Southern Railway Company. dated June lst. 1881 ana
payable June st 1897 al the rate OF 80
per cent. per annur. payable semi annually; both prn-
cpai interest being payable In United states GOA
Coin OF present standard Of weight and hneness ana
VIII 10 secured by mortgage about to he made 10y Inc
Railway Company.
The MORTGAGE will provide that ell - the above
issues 0, existing bonds I've paid al maturity. So
that thereafter the $40 Bonds viii be secured by
First Mortgage upon railroads. ieasehold Interests equip
nent, franchises. and income Tow owned or hereafter
ACQUIRED by the Lake & Michigan southern Railway
Cornnany tnn complies satisfaction and discharge
O. each OF the existing Mortgages above mentioned the
bonds secured by such Mortgage viii be held by the
Trustee of the new Mortgage md will be kept alive as
security for the new Bonds 10 le Issued there
under.
tpon every exchange resulting the right ~ the de
posito- fraction OF new Bond. We Will buy
such fraction at price Of oi at tho option 81 the
dcposor viii sell 10 him A. the same price the frac-
ton necessary 10 complete Bond Tor $1,000
In exchange for each deposit EXISTING Ronds Will
issue our RECEIPT. showing the description and
amount deposited and the amount OF cash
received from or PAID with respect 10 any fraction
o, p Bond and the Of new Bonds TO which the
holder VIII be entitled.
The existing BONDS deposited with Us Will he lodged by
rs with the CONTINENTAL. TRUST COMPANY Of the
city Of New York. which VII hod the same as Gus
todan under an agreement with FOR the proec
ton oc all parties Upon presentation Of our
Receipts to the said Tfust Company after the
following the date thereof It viii stamp the TO the
effect that il holds under its fad agreement with rs
existing Ponds Of amount and description stated In
such Receipts respectively
The TT,is; Company viii retain ell existing Bonds
deposited with IL Clness reexchange herein
inter provided unit, shall be exchanged for TIE
new Bonds 10 issued By the Railway Company; and
AFTER such new Bonds shall be received by T.. viii de-
liver tie same upon surrender OF our Receipts
calm, f0r ar equivalent amount
A. soon as the new Bonds legally issued according
TO ou- Agreement with the Railway Company. due notice
VIII be given Thereof. ana upon presentation and
render O, our Receipts office the holders VIII be
entitled to receive 81 per Gold Bonds
stated therein.
II for any Railway Company shall not have
delivered proposed Bonds before the thirty
FIRST day % July 1891 then ana such event existing
Ends DEPOSITED with vs. Of the and description
stated IN our Receipts VIII returned through the
holders upon surrender thereof repayment being made
by the respectvs parties Of the amount Of cash received
e. set foun IN SAID receipt.
NEW YORK. March 20 1897.