The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-03-28
finanriRl.
TO THE HOLDERS OF THE
Second Mortgage Bonds
The Texas & Pacific Railway Co.

THE ST. LOUIS, IRON MOUNTAIN AND
COMPANY, having
made provision to retire it's bonds prior in lien to ita
General Consolidated Railway and Land Grant Mort,
gage. now proposes subject to authorization and ap.
proval Of its stockholdersl to create an issue OF $50.
ooo. 900 of Thirty Year Four Per Cent. Gold Bonds,
which are to be used to fund and retro the Com.
pany's Five per cent. Gold Funding Notes. to retire
the existing Iron Mountain Car Trust Certificates; to
acquire the outstanding mortgage securities of Ger.
tain companies owning lines leased TO the St. Louis.
Iron Mountain and southern Railway Company. az.
gregating a mileage of more than 800 miles; to &C.
quire all or any part Of the Issue of the Second Mort
gage Five per cent. Bonds OF The Texas and Pacific
Railway Company; to make improvements. better.
ments and additions TO the properties OF the Com.
pany anu Tor other corporate purposes. The above
amount of the issue of new bonds may be increased
by not to exceed 100000 of additional bonds,
which will be reserved SO that they can be issued
from time to time only for the acquisition or con.
struCtion and equipment OF extensions and branches
to the Company's railways at a rate not exceeding
S12. 600 par value of such additional bonds for each
mile OF completed railroad constructed or acquired
upon which the new mortgage shall become a first
lien directly or by pledge Of the bonds aud stock
representing ownership.
The new bonds arc to be secured by a MORTGAGE
subject to the General Consolidated Mortgaee) on
all the railroads. terminals and equipment owned
by tho Company. and covering. as a FIRST and only
lien. all stocks and bonds embraced in the trust
OF the Gold Funding Note Indenturc. upon satisfac-
ton OF said indenture. and all leased and branch
line bonds and stocks cor the properties on which
they rest and all Texas and Pacific Second Mort.
gage Bonds which shall be taken up or acquired by
the use OF the new bonds or their proceeds, and all
betterments. improvements. additions. extensions
and branches so constructed or acquired.
HOLDERS OF SECOND MORTGAGE BONDS OF
THE TENAs AND PACIFIC RAILwAY COMPANY
who shall. On OR BEFORE APRIL 18TH.
1892, deposit their bonds. with coupons pertaining
theretD attached, with The Mercantile Trust Com.
pany. at its Office, No. 100 Broadway, New York CITY.
wi ! receive therefor negotiable certificates emitting
the holders u receive, upon the surrender thereof.
upon the due authorization by the stockholders and
execution OF tn" proposed mortgage and issue Of the
bonds secured thereby. prior TO September LIST. 1890
an amount of the new bonds equal at par 10 sixty.
Ave 90, per cent. Of the par amount of the deuos,ted
bonds. the new bonds TO bear interest from July lat
1929. Dcpositors have the privilege at the time OF
depositing Their bonds to elect to sell To Syndicate
at eighty five is5) per cent, Of their par value in
cash. the new bonds which they will he entitled IN
receive. such price To be payable at the ofice OF Tho
Mercantile" Trust Company, at the time of the issus
Of the new bonds. and suitable certificates will be
issued to d'positnrS so elect.ng tn sell, %cntItlinU
them 20 receive cash to tho amount above stated unon
surrender Of such certificates.
Upon execution OF the new mortgage the depositod
londs are To- h" transferred and delivered nv IN.
trust G. mpaiIy to III" 81. Louis. Iron Mountain and
Railway Company, and pledged under the
new mortgage in consideration Of the issue and do.
livery 10 the Trust Company Of tho new bonds in
cN"nanG" therefor, and the Trust Company there.
upon vii! deliver the new bonds to tho holder. a,
ltS certificates "i deposit entitled theretl. and also
to the Syndicate above mentioned upon recent from
IN" Syndicate Of the cash price thereof as aboye
stated for paym'nt to he holders Of certificates ~
dep "sit issued +" d'positurs who have elected TO
sell.
In cas-" th" rev mortGa &c should not be authorized
duly executed and the bonds Hereunder Ia.
ready (. drilvrry to the holders Of said certiacates
At the uih"c ~ The Mcrcantsi" Trust Company prior
70 September Ist. l-Yu. the deposited bonds are 10
be returned without charge In holders Of the resper.
certificates therefor upon surrender Of their car.
tfcatos.
Bonds not deposited on or before April 10. 1926.
VIII h" received n 1t all only upon such terms and
as the Railway Company hereafter may Ar
II ia expected that the new bonds will be issued
dcliv, red against the certificates Of deposit dur.
ing the nrst week OF July.
Dated March -, Isas.
The St. Louis, Iron Mountain & Southern R'wsv ca,
BY GEORGE ]. GOULD. President.
a. II. CALEB. Secretary.