The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-02-12

RESERVED In hands Of Trustee
10 DO used only 10 making
future extensions and I'm.
prOVoments ....s $I,000.0O0
The CITY GAS COMPANY was organ.
iDsd by Emerson Mclrtiin o %. for the purpose Il
acquiring the gas properties. rights and franchises in
Detroit Michigan.
The City Of Detroit has o population Of ovoq
$50. 900, and is one Of the most substantial and pres
porous cities in the country.
TEE BONDS
are Q prior lien on tho property. rights and fran.
ohises Of the Detroit City Gas Company. embracing
the p~roperties formerly Of the Mutual Gas Company,
the Detroit Gas Light Company and the Michigan
Gas Company che latter being o Company organized
for the purpose Of furnishing natural gas in the City
Of Detroit), and including all the gas properties In the
city.
The Company operates under q franchise granted
In 1898 for o term OF thirty years.
The rates received for gas are Is followsi
For manufactured gas for inumi.
nation LOO per 1000 fees
For manufactured gas for fuel.... 30 " " "
Tor natural gas."......."..... 30 "
THE MANUFACTURING PLANT
Of the Company 10 in excellent condition. being pro-
vided with the best modern appliances for tho eco
nomical manufacture OF gas. and Of adequate capaot
~ for several years to como.
THB DlsTRIBUTINe PLANT
consists Of col miles of mains for manufactured ga,
and 1876 miles for natural gas-a total Of 837 miles.
Tho natural gas mains include Q pipe line from Do
tFoit 70 Toledo. 4 distance Of about 81 miles.
THR HET EARAING
Of the Company for the Fiscal Year ending February
e6th. 1897. were o26g. 500. For the Fiscal Year ending
February 2sth. 1858. the net earnings will be about
$500. 600. estimated on tho basis Of increase as shown
~ the close Of the calendar year ending December
8lst. 1897.
that the net earnings for 1893 will DO not less than
$500. 900; for 1899. SSH. 900. and for 1900. $685..
900.
These estimates ara based upon results obtained
under practically the same management in cities Of
approximately equal population and similarly 10
Gated. as 20 cost OF operating expenses.
The bonds will be ready for delivery about the l0
of March.
Payments TO DO made to the undersigned or to the
Continental Trust Company. 80 Broad Street. New
York. and the Interim Receipts Of the Trust Com
pany issued therefor exchangeable for the bonds
"ueu Iohuy " OhNciy u 10 mhA0 ny
able to the order of Continental Trust COMPANY Il
the City OF New York.
Terms OF payment:-Ten per cent. on applications
balance on or before March LIST, 1893.
Application will DO made to have tho bonds Listed
on the New York Stock Exchange.
The mortgage securing tho bonds has been paass4
upon and approved by the following:
Mr.. SULLIVAN SMITH.
Messrs. TRACY. BOARDMAN q PLATE
Mr.. w. =. DOUTnIRT.
OF these bonds. o.. 800. 900 are offered at A AHD
INTEREST.
Applications for same may DO made TO the under
signed or the Continental Trust Company up to
O'Clock on February 18th. 1898. at which time aloe
ments will be made.
Right reserved to reject or reduce any subscription
EMERSON MCMILLIA 6 CO.. Bankers,
40 Wall Street, New York
MARQUARD & PARMlY, Bankers,
100 Broadway, New York
CHARLES D. BARNEY G CO., Bankers,
i22 South 4th ST., Philadelphia, Pa
{. n. MORRISON 6 CO., Bankers,
Baltimore, Nd