New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-03-24
Finannal.
TO The HOLDERS OF BONDS
OF THE
Lake Shore & Michigan Southern
Railway Company.

Under agreement between the Lake Shore and Mcni-
gan Southern Railway Company and ourselves We make
the following offer Of exchange into NEW 3A PER
CENT. 1OO-YEAR GOLD BONDS to the holders OF
the existing issues mentioned below:
We will receive from date hereof UNTIL
FURTHER NOTICE. Bonds OF such issues. both
Registered Coupon attached thereto
al Coupons maturing after June ist 1s9. and thereafter
a. per Bonds the price OF 1924 viii be de-
livered FOR existing Bonds the computation as
Of June ist 1907 OF 81 cent annual interest," payable
seml-annnally. viz:
For every 1000 BUFFALO Il ERIE RAILROAD
COMPANY PER CENT. MORTGAGE BOND.
April worth a ~ per basis.
OF June list 1897 soi0 OF. the holder viii be entitled,
lO2ia. sol4 70 in the 81 per cent. Bonds.
For every $1,000 LAKE SHORE RAILWAY COM
PANY PER CENT. MORTGAGE BOND, due
April l. 1890 worth 81 per cent interest basis as
OF June l. 1907 slO73io the holder will be entitled at
lo2i,, to slO47o2 in the new 81 per Bonds.
For every $1,000 LAKE SHORE MICHIGAN
SOUTHERN RAILWAY co. 20 CONSOLIDATED
MORTGAGE AND SINKING FUND COUPON
BOND, due july T. 1900 worth on ~ per cent IN
te-est basis Of June 1891 81 1850 the holder will
he entitled at io2i1 Si102 rs the 3a cent;
Bonds
For every 81 900 Of the same issue REGISTERED
BOND. on which the April LIST. 1897 interest to the
amount OF IA per cent be collected By the registered
owner directly the Railway Company worth ST.
1896 less ST. 5O-s1I13OJ the holder VIII Be entitled,
at lOei. 10 81 0s5 81 in the 81 per cent Bonds
For every $1,000 LAKE SHORE d MICHIGAN
sOUTHERN RAILWAY co. "a SECOND MORT
GAGE BOND. due December ], 1903 worth on 39 per
cent Interest basis OF June I. 1897 s2oisD, the
holder viii be entitled ioes si.i7259 in the new
3is per Bonds.
We will receive Registered Bonds only when duly en-
dorsed in blank all interest thereon payable on or
before June 1891 VIII 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 VIII bear interest
The NEW BONDS TO be delivered by US in exchange
Will be part Of Issue for the aggregate principal sum
$50 900 by the Lake Shore and Michigan
Southern Railway Company, dated June LIST, 1877 and
payable 1897 with interest az the rate OF 32
per per annum. payable semi annually both prin-
cipal and nteres, being payable United States Cold
Coin present Of weight and Aneness and
viii be secured by mortgage about IL be made by the
Railway Company.
The MORTGAGE will provide that all Of the above
issues existing be pad maturity. 50
tina, thereafter the new 3laG Bonds will be secured by
First Mortgage upon railroads easehod interests equip
nent franchises. and income now owned or hereafter
acquired by Lake Shore Michigan Southern Railway
Company tntl complete and discharge
OF each OF Mortgages above mentioned the
bonds secured by Morteage will be held by the
Trustee Of the Mortgage ard Will be kept alive as
additional security the Bonds 70 be Issued there
under.
Upon every exchang. resulting in the right Of the de-
positor to receive fraction Of Bond will buy
fraction price Of lO4 the option Of the
deposor will sell him the price the frac-
ton necessary complete 4 Bond for $1,000
In exchange deposit OF existing Bonds We VIII
RECEIPT, showing the description and
OF bonds deposited and the amount OF cash
paid with respect 10 any fraction
OF a Bond and the amount Of new Bonds 10 which the
holder will entitled.
The existing Bonds deposited with viii be lodged oy
US with the CONTINENTAL. TRUST COMPANY, OF the
CITY Of New York which will ho.d Gus
todan agreement made with for the protec
ton Of all parties Upon presentation %
Receipts said Trust Company after the day
thereof. will stamp the the
effect holds under IT'S said agreement with
existing OF the and description stated in
such Receipts respectively.
The Trust Company Will retain all existing Bonds
deposited with II ness Of reexchange herein
after provided shall be exchanged for the
new Bonds 70 be issued by the Railway Company: and
after Bonds shall be received by IL, viii de
liver the upon surrender % our Receipts
calling for n equivalent amount.
the Bonds legally issued. according
Agreement with the Railway Company due
will given thereof. and upon presentation and
render Receipts office. the holders will be
entitled the said 3is per Gold Bonds
as stated therein.
II for any reason the Railway Company shall have
delivered proposed Bonds before thirty
first day July. 1897 then and in such existing
Bonds deposited OF the and description
stated Receipts Will be- returned
holders upon surrender thereof repayment being
by respective parties OF the OF received
: forth IN said receipt.
NEW YORK March 20. 1897.