The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-02-17

First Mortgage per bonds, 1917...... $2ssooo
Consolidated Mge cent bonds this 27s5OOo
Average earnings five years-afr payment
of interestappicable to dividends $1s3U
prssden Charles onddsnJ
Subscribers l2,1s7 1908 1881 1868 1862
estimated subscribers 1892 approximate 3d. 900
We offer the above issue of bonds for subscription SO
interest to date of delivery, payable as follows:
per $50 per application
90 Ia cent and interest upon delivery 18th
Application will be made have the bonds listed the Now York and Boston Exchanges
HISTORY Michigan Telephone Company organized 1888
rights the Telephone and Telegraph Company Detroit the
Michigan Bell Telephone Company thus
Bell Telephone contains an operating
area miles, and population by the last federal
PROPERTY The structural value of the property shown the books
& Webster, Electrical Engineers, reported at that time:
1--WE have estimated carefully the cost Of
Subsequently expended or total to
December $685. of approximately Including pro-
@ for by the proceeds this ISSUE the Company will have
ton exclusive of franchises of about 5OOOOOO
So, 7e5, 900 outstanding bonds.
In letter to dated February 9th $780, Messrs Stone report
results recent examination of the major property follows:
the
SYSTEM has
apparently
Gently been secured by the Erie Telegraph Telephone proposed
policy outlined the following Gdden the Pre-
dent each of the aforementioned companies
Gentlemen: February 1899
The
phone Company have authorized
Consolidated Mortgage Bonds to be applied follows:
First To purchase and
Bonds of the Company Contract
these the par
Second exclusive
In Detroit for Branch Exchange Buildings, FIVE
For Main Exchange Buildings one each at Battle
The Company already owns land and buildings
Tbd IT, enSo1 H., saglna wv ana Grand Rapids
thereby connecting this district with all upper
service of the United saa d o Hs the
fur'n To placing extra copper metallic circuits for
large increasing business. 1890 s ~
and general additions to the plant
character outlined Telephone Com
pan thereby providing for all fixed upon the
Csisned> cHAs j. a11DDEN President.
MORTGAGE. The provides for total issue of 100000 bonds
co00o offered for Immediately retire $6 900 First
Mortgage bonds O'''O' '9
remaining First Mortgage bonds outstanding
REPORTS All requirements preparation Of the bonds and mort
gage nave been performed under the supervision and with the approval
Storey lhonde the physical condition of the determined BY
s Stone Webster whose valuation thereof herein the accounts
accountant F
Copies of the Reports Open to Inspection
Directors of the Michigan Telephone Company
RoEERr cLowRY Uice Telegraph COS chica
EREDERcK FORBES Michigan Telephone co., Detroit
CHARLES GL1DDEN Telegraph & Telephone Co.,
-O'OP"'i'e ~
Union Telephone 60, cnc
N"No"e Oo'' Sihc7
ROBERT LINCOLN Palace Car Co., Chicago
~'i oo''' chicago
JAMES Cleveland Telephone Co., ,ve
land o.
MCMILLAN National Bank Detroit Mich
Subscriptions for the bonds will be our ces until
Monday, February Goth, NJ unless Srer term
mated discretion.
POOR & GREENOUGH
BANKERS,
So Devonshire St, Boston
lS Wall Street, New York