New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-10-11
100000
Edison Electric Illuminating Co. Of
Brooklyn
First Consolidated Mortgage 40 Bond.
DATED OCTOBER iST. 1895
DUE JANUARY lST. 1899.
,s-es: January ani July Principal and Interest pay
able in gold
THE STATE TRUST co. or NEW YORK.

DATED OCTOBER lS1'. lSeS.
III. 1ANr-A NY tS.r tnon

TIE Edison Company Incorporated under the law
=, ,he state OF New-York in 1851 but did not begin
,,sness un 1889 The operations Of the Company have
men profitable from The outset am the growth of the
h.snsss exceptional
The Edison Company con.ro, ot the C,tlzene
x,.cr, Illuminating Co. years since through the
u-chase Of the entire capital stock and recently ac-
,rcs the ownership CT the Municipal Eec-
,,e lAeht CO. Both companies whou, bonded in
S,s,eaaesS and the entire holdings OF the
,.dsed under present Consolidated Mortgage Of the
Edison Company
The union OF tho Eieon Company and the Kings County
r,ec,-ie Light and Company has now been per
,sc,ed through which is had control Of
r,.,ng business ana franchises in BROOKLYN excepting
Ixal company operating the old town OF Flatbush.
The Kings County Corpanys river front Is ad
r,blv located in immediate vicinity Of the Brook
,~n Bridge The Edison Company last year erected its
,,on Station at Of Goth Street directly upon the
eater and adjoining terminals Of Long Island Rail-
,ad Company. The methods introduced the
o, ana equipment marked electrical devel-
o,n,,n, The station is Of the largest capacity and
,ovs the laes, and best appa:atue and methods. The
consolidated COMPANIES have system modern and com
.e IN all respects and II will be possible utilize the
GIANTS and valuable franchises in the most economical
with reference the larger growth Of the city
The interest charges of the Edison Com
many including the Consolidated Mortgage
ponas now issued. Will he SI55.OOO per an
mum. The net income for the calendar year
1897 of the Edison and Municipal Companies,
applicable 10 charges. WAS S4S7.OOO which il
added 10 by normal increase this year.
The amount authorized under the mortgage will be
en- 600 600 but the present issue will be for only 5000
O the proceeds Of which will be applied 10 the payment
FAR the Municipal Companys stock Provision Is made
"a, the existing Mortgage 1900 GOO which. in
co-dance Of the deed OF trust has been
.onaly called redemption October 1s 1900 at 10
and interest. The Consolidated Mortgage will then be
arg, lien upon al! the properties Of the company, OF
..,.ver nature whether now owned hereafter be
1s 10 1vou
,op under the carefully guarded restrictions of the Mort
are and In no even; shall bonded Indebtedness Of
AZ company exceed share capital. or two-hirds Of
M value corporate properties. such value should
Be- greater than the share capital.
The properties Of the Kings County subject 10 Its prior
hens are also placed under the Edison Consolidated Mort
pge.
All Of the C e stock Of the Edison Company TO the
amount OF 600 representing az market valuations
IN equity Of IS $4,000 has been purchased by the Kings
contv through the Of Purchase Money &c Bonds
., The amount OF S5l16Oo0 In addition 10 the vendor
len upon stock and the mortgage security the Kings
County has secured s agreement BY the deposit
Of 100000 in with the Centred Trust Company as
Trustee.
The legal steps were all under the counsel Of
Msssrs Parsons Shepard q ogden. by which firm the
Edison C5npany's Consolidated Mortgage was drawn.
TIE Consolidated Mortgage IS Of the Edison Company
We believe to be an investment Of safe ana desirable
character.
Interim certificates Of the State Trust Company VIII be
asv.red pending the engraving Of the bonds. which Will
"a ready December Application will be made IN due
cuurs. for the listing OF the bonds upon the New 1ork
Stock Exchange. - -
WE OFFER THE UNSOLD BALANCE OF THE
90 OOOO 600. SUBJECT TO ADVANCE IN PRICE
on WITHDRAWAL WITHOUT NOTICE, Al
a3n AND ACCRUED INTEREST. fAhlNU
ABOUT 4-35 PER CENT.
Vermilye & Co..
NASSAU AND PINE SITS. hEw YORK.
Spencer TraSk & Co..
% .,1 x,.xI- SrpEET NEW YORK.