The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-04-08
9iuameml.
TO THE HOLDERS OF THE
Second Mortgage Bonds
The Texas & Pacific Railway Co.

THE ST. LOUIS, IRON MOUNTAIN AND
SOUTHERN RAILWAY COMPANY, having
made provision TO retire its bonds prior In lien to Its
General Consolidated Railway and Land Grant Mort.
gage, now proposes (subject to authorization and APP
proval OF its stockholders) to create an issue OF $780,
600, 900 Of Thirty Year Four Per Cent. Gold Bonds.
which arc to DO used to fund and retire 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
pregating 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 and for other corporate purposes. The above
amount Of the issue OF new bonds may be increased
by not to exceed SO. ooo. 900 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
sl2, 900 par value OF such additional bonds for each
mile of completed railroad constructed or acquired
upon which the new mortgage shall become a nrst
lien directly or by pledge OF the bonds and stock
representing ownership.
The new bonds are to be secured by a mortgage
(subject to tho General Consolidated Mortgage on
all tho railroads, terminals and equipment owned
by the Company. and covering. as q FIRST and only
lien, all STOCKS ana DOnus eHDrhCtu III ~ u
of the Gold Funding Note Indenture, upon satisfac-
ton of said indenture. aud all leased and branch
line bonds and stocks (or 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
bettermcnts. improvements. additions. extensions.
and branches so constructed or acquired.
OLDER OF SECOND MORTGAGE OF
THE M PACIFIC RAILwA COMPANY
who shall, ON OR BEFOR APRIL 18TH,
1890, deposit their bonds. with coupons pertaining
thereto attached, with The Mercantile Trust Com
pany, at its office. No. 100 Broadway, New York City.
will receive therefor negotiable certificates emitting
the holders to receive. upon the surrender thereof.
upon the due authorization by the stockholders and
execution of the proposed mortgage and issue of the
bonds secured thereby. prior to september LIST. 1899.
an amount OF the new bonds equal at par to sixty
Ave 85) per cent. of the par amount of the deposited
bonds, the new bonds to bear interest from July LIST.
1899. Depositors have the privilege at the time of
depositing their bonds to elect to sell to a Syndicate
at eighty.hve (s5j per cent. of their par value In
cash. the new bonds which they will be entitled to
receive, such price to be payable at the Office of The
Mercantile Trust Company. at the time Of the issue
of the new bonds. and suitable certificates will be
issued to depositors so electing to sell. emitting
them to receive cash to the amount above stated upon
surrender of such certificates.
Upon execution of the new mortgage the deposited
bonds are to be transferred and delivered by tho
Trust company to the st. Louis. Iron Mountain and
Southern Hallway Company, and pledged under the
new mortgage in consideration OF the Issue and de-
livery to the Trust Company Of the new bonds in
exchange therefor. and the Trust Company there
upon will deliver the new bonds to the holders OF
it's certificates of deposit entitled thereto, and also
to the Syndicate above mentioned upon receipt from
the Syndicate of the cash price thereof as above
stated for payment to the holders of certificates OF
deposit issued TO dcpositors who have elected to
sell.
In case the new mortgage should not be authorized
and duly executed and the bonds Hereunder be
ready for delivery to the holders OF said certificates
at the office Of Tho Mercantile Trust Company prior
to September LIST. 1899. the deposited bonds are to
be returned without charge to holders of the respec-
tive certificates therefor upon surrender of their GER
tfcates.
Bonds not deposited on or before April 16. 1899,
will be received df at alb only upon such terms and
conditionsa as the Railway Company hereafter may hx.
1t is expected that tho new bonds will be issued
and delivered against the certificates of deposit dur
ing the first week of July.
Dated March 81. 1899.
The St. Louis. Iron Mountain & Southern R'way Co.
BY GEORGE J. GOULD, President
A. H. CALEF. Secretary.