New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-03-30
financial.
TO THE HOLDERS OF BONDS
OF THE
Lake Shore 4 Michigan Southern
Railway Company.

Under IN agreement between Lake Shore and Mich
gan Southern Railway Company and ourselves we naSs
the following orer u exchange into NE" ia rhn
CENT IoO-yEAR GOLD BONDS TO the holders OF
the existing issues mentioned below
We Will receive from the date hereof UNTIL
FURTHER NOTICE. Bonds Of such issues o''n
Registered Coupon Ohe latter having attached 's
all Coupons maturing after June LIST ls9') ana 'heI"
3is per cent Bonds AT price Of lO2a VIII De oe
livered for the existing Bonds upon the coinpa'Ao "
OF June is .so7 Of ~ cent annual interest pa''
eni-annualy. viz;
For every 81 900 DVFFALO & ERIE RAILROAD
COMPANY PER CENT. MORTGAGE BOND
due April LIST worth 81 cent interest oaS'@
as OF June ist 1897 0cl holder vii! be entitled
I024 sl.0l4 20 in the new 80 per cent. bonds
For every 81 900 LAKE SHORE RAILWAY COM
PAyY PER CENT MORTGAGE BOND que
April l. 1899 worth on a "a per cent interest basis as
OF June 1897 si03 100 the holder VIII be ent'el' d.
lO2t. TO Sl.Oi702 IN the new 81 per cent bonas.
- every $1,000 LAKE SHORE a MiCHiGAN
SOUTHERN RAILWAY co. 20 CONsohioAIED
MORTGAGE AND SINKING FUND COUPON
BOND. due July l. 1900 worth 3is per cent IN
terest basis OF June 1897 81 1880 the hoia"r wall
102is. to sl02ss In the new "a per cent
Bonds
For every $1,000 Of the issue REGISTERED
BOND, on which the April LIST. 1897. interest to the
amount Of IA per will be collected by the registered
owner directly from the Railway Company worth 81
1856 less sl7jo=slll3o6,. the holder Will be entitled
az 1922. % 81 Os59 81 the 3ig per cent bonds.
For every $1,000 LAKE SHORE ~ MICHIGAN
SOUTHERN RAILWAY co. 20 SECOND MohT-
GAGE BOND. due December l. 1893 (~orth on a ia per
cent interest basis OF June I. 1897. sl'-ohep tAe
holder VII. be entitled. Al lO-'=. 10 SI'l'-'o ia VIC ~"
g.. per Bonds
We will receive Regiatered Bonds only when dI-y e7-
dorsed in blank but all interest thereon payable On o.
before June 1891 will be collected and be received 0'
the registered owner directly the Railway Company
The exrhang- viii be made Of the first day OF june
1877 from which date Bonds vii bear Interest
The NEW BOSDs to be delivered by US IN exchange
VII be part q for the aggregate principal sum
OF So @, by the Lake Shore and Michigan
Southern Railway Company. dated June lst 1871 ana
n4yah.e June ls 1897. interest at the rae or "2
Qer cent per annum payable semi-annuh'iyi u"'' pr"
cpa interest being payable In United states "''1
CON 81 the present standard Of weight ard hneness ana
vii be secured by a mortgage ABOUT 10 Dr. "'Hue ~ ~
Railway Company.
The MORTGAGE Will provide tina; a.. Of the aooVe
issues existing oonds TO be paid al maturity -
that thereafter 3Sc Bonds will be secured py
FIRST Mortgage upon rl!roat leasehod interests equip
nent franchises and Income now owned or hereafter
.,i-sd bv tie lake shore Michigan Southern RAILWAY
Company Until complete satisfaction and d!Sc"H'se
o, each ~ the EXISTING Mortgages above mentioned 'he
bonds secured rs Mortgage will be held by the
Trustee = he Mortgage and Will be kept awe as
ss,io,al security Tor the Bonds be issued there
uude-
mon every exchang. resulting II the right OF the de
rosr q, receive fraction Of new Bond we viii buy
such fraction a. price 'f lo4 or at the option OF 'he
darrs,o- W will sell at The same price the tFac-
ton necsssar, to c9mpete Bond FOR $1,000
L. ox.hange f1r each deposit q existing Bonds we VIII
fssue o!- RECEIPT, showing the description and
amour, = such deposited. and the amount o. cash
received from or paid with respect 10 any fraction
- a Bond and the amount of new Bonds to winch the
holder VIII be entitled.
TIVE existing Bonds deposited With will be lodged BY
Dbl. With the CONTINENTAL. TRUST COMPANY. Of the
900, - N4w York which will ho.d the Gus
4or under an agreement made with for the protec
,, n Al, rares IN interest Upon presentation Of our
u.ent4 o. the said Trust Company IN or after the day
.f,t-, iii. late thereof will stamp the 70 the
e0sc- thai r. holds under said agreement with US
evisny Bonds of amount and description stated In
such Receipts respectively
m. Tr.s, Company will retain all existing Bonds
deposited unless in case of reexchange as herein
s,,e pr7vleD ua shat! be exchanged for the
af,er such new Bonds shall be received by IT. will de-
lv.r the - upon our surrender OF our here'pS
calling for equivalent amount
As soon Bonds are legally Issued according
70 our Agreement with Railway Company due notice
NJ, he given thereof. and upon presentation and sur
o-le- = our Receipts ofce. the holders Will be
r,i,ed 10 receive the said 81 cent Gold Bonds
as stated therein.
?, ,,r any reason the Railway Company shall not have
delivered the proposed Bonds before the thirty
e-s eay NJ Juy 1897 then and such event existing
Ponds DEPOSITED with us Of the amount and description
,-ed n our Receipts returned through us TO the
holders upoa surrender thereof repayment being made
by the respective parties OF The amount Of cash received
as set forth Il said receipt
NEW YORK March 30. 1897
CDCNED &. On