New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-03-25
financial.
TO THE HOLDERS OF BONDS
OF THE
Lake Shore & Michigan Southern
Railway Company.

Under an agreement, the Lake Shore and Mchi-
gan Southern Railway Company and ourselves, we make
the following offer Of exchange INTO NE" "'s TEL.
CENT. 1OO-YEAR GOLD BONDS to the holders OF
the existing issues mentioned below
We will from the date hereof tNih
FURTHER NOTICE. Bonds OF such Issues both
Registered Coupon uhe latter having attached thereto
Coupons maturing after June ist lso' ana
3ls cent. Bonds az the price OF lo2'1 VIII De ~
Iivered for the existing Bonds upon the computation
o, Iune LIST 1897 Of ga Der cent interest payable
semi annually. VIZ:
For every ST. 900 BUFFALO & ERIE RAILROAD
COMPANY I. PER CENT. MORTGAGE BOND
due April st worth 3is cent Interest basis
as OF ls 1871 500 oG). the holder Will be entitled
at 1924, sioi4 10 in the 3iA per cent Bonds
For every $1,000 LAKE SHORE RAILWAY COM
PANY PER CENT. MORTGAGE BOND que
April t. worth on 3s per cent Interest basis. as
OF June 1891 81 OI3l3 the holder VIII be entitled d,
l02is, to si,0iI02 in the 81 per cent bonds
For every $1,000 LAKE SHORE N MiCHi'AN
SOUTHERN RAILWAY co. "a CONSOLIDATED
MORTGAGE AND SINKING FUND COUPON
BOND due july /. 1900 (worh on 3's per cent. IN
terest basis Of l. 1891 sli305G the holder VIII
be entitled at Io2s to slIO29s the 81 per cent
Bonds.
For every 81 900 OF the same issue REGISTERED
BOND on which the April Ist 1891, interest 70 the
OF IA per cent Will be collected by the registered
owner directly from Railway Company tworth 81
1870 So less $l7Js1ii3oj the holder VIII be entitled
1924. to sOs5 ~ In the new 81. per cent Bonds
$1,000 LAKE SHOkE N
SOUTHERN RAILWAY co. 20 SECOND MoRT-
GAGE BOND, due December l. 1903 worth on 3is per
cent interest basis. OF June l. 1907 Si2ois 3D. the
holder Will be entitled. at l02is. to ll72oo IN the new
3s per cent. Bonds.
We Will receive Registered Bonds only when duly en-
dorsei in blank but all interest thereon payable on or
before June 1891 will be collected and be received ny
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
te Ftffy by IA In
Will be part an FOR the aggregate principal sum
Of SO be made BY the Lake Shore and Michigan
Southern Railway Company dated June ist 1871 ana
payable June list 1891 with Interest at the rate OF ga
per cent. per annum. payable sem! annually; boh pih-
clpal and interest being payable In United states Cold
Coin Of the present standard ot weight and hneness and
be secured by m5rtgage about t. be mace " '"1
Railway Company.
The MORTGAGE will provide that all Of the above
issues o, existing bonds are lie pad az maturity, 50
that thereafter the 9i4o Bonds will be secured ty
FRS, Mortgage upon railroads. easehoid interests equip
men, franchises and now Owned or hereafter
acquired By the Lake Shore Michigan Southern Halfway
Company Until the complete satisfaction and DISCHARGE
- each q the existing Mortgages above mentioned The
bonds secured b. such Mortgage Will be held by the
Trustee = the Mortgage and VIII be Kept awe az
ddtonal security the Bonds - be issued there
under.
Upon every exchange resulting IN the right Q, the de
p,sitor % receive fraction Of new Bond We VIII Ouy
such fraction al price az 1914 at the option OF the
eeposltor we will sell 10 him at the game price the iEe
ton necessary complete n Bord for Sl,oVO
In exchange FOR each deposit OF existing Bonds We VIII
issue our RECEIPT. showing the description and
amount of such deposited and the amount OK cash
received from paid to US with respect 70 any iaeoh
o. a Bond and the amount Of ne" bonus " "''~H ','
holder VIII be entitled
Tn. existing Bonds deposited with Us viii be lodged by
rs with the CONTINENTAL TRUST COMPANY Of tie
city u Sew York which will hod the same "a Gus
tian under en- agf~emen, made with for the pr'ec
rart.rs presentation OF orr