The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-02-19
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Michigan Telephone Company
CONSOLIDATED MORTGAGE
GOLD SO BONDS
Part of an Authorized Issue of 90, 100000
Dated January a. 1899 Denomination $1,000 Due January t., 1eaa
Principal and semi-annual interest January 1 and July ~ payable
In Gold Coin of the United States of the present standard
of weight and fneness, at the Old Colony Trust
Company. Trustee, Boston.
Uhe bonds + in coupon form, with provision for registration of the
principal. They r practically a First Mortgage, a $ only
ses5,oo of the s75o.ooo First Mortgage Bonds
originally authorized will remain outstanding.
Share Capital . . s1Soooo
First Mortgage so bonds due 1917 . . SzsSoo
Consolidated Mtg. So bonds this issue .z5oooo z7Ss 900
auysten net earnings for five years,-afer payment Of
hsret-appncabhe to dividends $685. III
(@e letter oeODJ from FfesHent Charles Hdden
Subscriber, a.. r ISIS 1855 1893 1885, 5:Ss; 1865 5'se 1882 1'Ss:
It's estimated that the subscribers, December 81, 1892 will approximate $1,000
W. offer the above issue of bonds for subscription at 90 Ia and accrued
interest to date OIL delivery, payable asf follows:
per cent. o $50 per bond on application.
es Ia per cent It., and and. a .sruas at interest tel ts. MI upon On. d ell ReEga March War E,. 10th.
HISTORY. The Michigan Telephone Company was organized in 1888
udu u huso of the Stat of Michigan, and has since acquired the property ad rights Of the
Telephone and Telegraph Construction Company of Detroit, ad the Michigan Bell Telephone
pany for the entire State when contains an operating area OF $3.50 square miles, a"a a
DpnDEETV The Hrurtual,w vain of the ponrtv aS Shown on te bookS Of the
Company December 81, 1896, was sai27ooisi' upon which Mesrs Stone & Webster Ea:
eve have estimated carefully the osto If reproducing the plant, and believe
aath cannot DC replaced for an amount that is materially less than that given
'% subsequently there basb been expended on construction sso9s7e g. or total to December
nispc approximately, 100000 Including nwc construction provided TO- by the pro-
franchises of about So, 900, 900, to secure So, 1876, 900 outstanding
Ina letter to u, dated February 9Th, 1899, mesus. Stone & Webster report the results of
recent termination OF the major part o. the property as follows:
j.. THE esshanssp property If h COMPANY appears Ito have "1 been main
been made to sn he unasrs S ;m asyste md IN rGr rnn R' P"h1a a PsF a %, be beer nn Ss hs" s
both Grand Rapids ss m Jackson mehson,n THE a toln a ts ssysts% na nns Ss" %aas.5 been wei
MANAGEMENT. Control of the Michigan Telephone Company has recent,
been secured by the Erie Telesraph & Telephone dshe cS Go: Whose who e, PROPOSED d. policy o1y Il ii
thea emmtnd companies
GENTLEMEN: February 9 1899.
csn nns sS SaTs of ' %srsssi' the pa erd mssss" of sSs '" s%e to y o' on Of ss,SsoSoOo eoH.o"
First + purchase n cancel IN sasoo . ut,ana E,rss MSts.ss SonS
s tn purchase Of sses'oOo, Ieav'nE outstanding bond to tn "a vau o
Second To purcnAe AM n erect Exchange Buildings 70 thu exclusive u'
H % '; s%" h !ss s".sr na ns q o """ s"ss at ANA sssu.o Creek, Bay City, rn,a~.
., 1s ss% s' ss% si' ssss Nv: ~ land u me n s%.s'. ss n e :ss 's%s s al; s'1 a4 c
Buildings at Jackson, saginaw ID Grand Rapids 80.
Third To extend the s-dktan service 10 Il. important sections Of IN
s%%s. %. ;srsss, s ssysrss ,nS ,%. district n ss. IN" al 'S 1s"s.at Ss.ns' S Sa sss %P Ss
State and the entire o"s-dIstsnc service Of IN United states p canada.
pol, ." Quite :" a %ss1" ss sa%H ssS' throughout" &%%"" the 's state providing 'oT a iarss a"
Increasing business.
Fh 70 pay the cOt Of Onnectng new subscrDesa AT ali NcnA"ses i"
general additional Ito IN Companys extensv liant.
Character outlined have largely Increase n revenu Of the ieIopnone Com ON
ahes thereby providing for all liked charges n regular dvidends upo IN
capital Stock. Very truly yours
Signed CHA :. GLADDEN. fre"oe"'
/ MORTGAGE. The trust deed provides for total issue of 100000 bonds
follows: