The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-06-21
ISSUE OF
S5,OOO,OOO
FIRST MORTGAGE
five Per CENT. GOLD BONDS
OF THE
Consolidated Gas Company
OF
The City Of Pittsburgh, Pa.
Dated February l.. 1898. Maturing Fobru.
airy I, I948. interest Payable Feb
ruary lst and August let In
the cities Of New York
and Baltimore.
Total Amount Of Mortgage, $5,OOO,OOO.
MARYLAND TRUST COMPANY, BALTIMORE

IhOSIEE.
These are Coupon Bonds of 81, 900 each to bearer,
with privilege OF registration OF principal. or OF
both principal and interest.
Principal and interest are payable in gold coin OF
the United States of, or equal to. tho present
standard OF weight and nnenesS. without deduction
Of any United States, State. County. or Municipal
tax or taxes. which said gas company. its success.
sors, or assigns, may be required TO pay. deduct,
or retain therefrom under any present or future
law, said gas company agreeing to pay Ruch tax
or taxes.
The CONSOLIDATED "a COMPANY OF THE
CITY OF PITTSBURGH Incorporated May 10.
1871. charter porpotuRD IN the owner Of the fran
chises and property of the following Pittsburgh
Gas Companies;
CONSOLIDATED GAS COMPANY
PITTsBURGH GAS COMPANY.
EAST N GAS COMPANY. N
A COMPANY.
1t also owns all the bonds and all the shares OF stock
of the ALLEGHENY ILLUMINATING COMPANY Of
the City of Allegheny, which latter company is the
owner Of all the property, rights. and franchises OF
the ALLEGHENY A COMPANY.
These companies, with the SOUTH SIDE GAS CON-
PANY. which supplies the district south OF the
Monongahela River, constitute all the gas manufAc-
turing companies operating in the c,ttes Of Pittu-
burgh and Allegheny. The exclusive right to manu-
facture gas in tho two cities. as 70 are advised. IL
now vested in them.
The CAPITALIZATION of the CONSOLIDATED GAs
COMPANY is as follows:
First Mortgage o per cent. 5o.Year Gold
Bonds. ..... $4,000. 600
o per cent. Cumulative Preferred Stock,
with tho provision that dividends must
be paid II earned NORTHUMBERLAND. $500. 900
Common stock. 1000, ooU
| Total capitalization Sl1. 500. 600
all of which has been issued save $500. 600 OF the
Preferred Stock, which. so far as the same may be
| outra In the annuiaItiop ~ thn can,h Az 1-.
Company. will be so used. Any portion of the $780,.
600 Preferred Stock remaining after such acquisition
may DO used from time to time for additional i'm
provements or extensions.
Tho bonds now offered are secured by q nrst mort
gage of all the property-real. personal. and mixed
of the above Pittsburgh Companies; and are further
secured by the pledge with the Trustee OF the %. ooo,.
900 First Mortgage Bonds GALL the bonds). ana the
$4,000. 900 Capital Stock Cll the stock) OF tho Allie
gheny Illuminating Company of the City of Allie.
gheny.
A moro fully set forth in q letter Of Col. John A.
Tompklns, expert accountant Of Baltimore. the nc.
counts OF tho several gas companies were examined
by him. for us, prior to their consolidation. with the
following average per annum as reported by him
for the years 1894 TO 1897 inclusive:
GROSS .Ses%. 7os 20
E1PENsEs 278.o20 40
e EARNINGS. .041s.2 Aa os
Az wan W v hio bbAt0Hloub tuht
without the advantages which may fairly DO antici.
pated from consolidation. these companies have
during tho past four years earned an average
amount moro than suficient to pay per cont. In.
terest on tho 05. 900. 900 bonds and o per cent. divi.
dends on the Sc. 500. 900 Preferred Stock of the Con.
Golidated Gas Company.
In addition to the report of Col. Tompkina, We
ask reference to q synopsis accompanying the pros.
pectus by Mr.. F. II. Hambleton of Baltimore. Gas
Expert. OF his report upon the extent. situation,
condition. output, values. &C.. of the gas companies
now consolidated. 1t will be observed that Mr.. Ham.
bleton estimates the present values of the real
estate. buildings and plant, pipes, meters and services,
franchises and business as establiShed. at not less
than 5000. ooo."
Oh. 500. 900 honda OF the above issue having
been taken NJ an Investment (by former own.
era OF tho constituent proDertIOa), We now
offer the remaining o., 500. 900 bonds for
subscription. at lOco and accrued interest.
payable Tuesday, June 2Sth. 1905. when
the bends will be reRdS fer delivery.
Application will DO made to have these bonds
"listed" on the Baltimore. Philadelphia and Pitts.
burgh Stock Exchanges.
All LOCALITIES connected with the consolidation,
form of bond and mortgage. and issue. have been ap.
proved by our counsel, John G. johnson. Esq, OF
Philadelphia, q copy OF whose opinion and OF tho
mortgage may be seen At our respective oflces.
The aubNcriptiOn viii be opened at the of1css
or the undoFaiEned at 10 O'Clock on the mora
ing OF "Wednesday. Juno :2d. 1905. and close
At q o'clock p. M. on Thursday. june 38d,
1898.
Allotments will be made as promptly as possible.
The right Is reserved to reject applications. to close
tho subscriptions earlier than said date and to
sllot smaller amounts than those applied for.
Copies of the Prospectus, SC. may be obtained At
our offices.
BROWN BROTHERS & COMPANY,
New York, Philadelphia and Boston.