The sun., 1899-04-03
fiuanfial.
TO THE HOLDERS OF THE
Second Mortgage Bonds
The Texas & Pacific Railway Co.

THE ST. LOUIS, IROS MOUNTAIN AND
SOUTHERN RAILWAY COMPANY, having
made provision % retire Its bonds prior in lien 70 its
General Consolidated Railway and Land Grant Mort.
gage now proposes tsubjec 10 authorization and APP
proval of its hOders to create issue of $780,
ooo, 900 OF Thrty.Year -Four Per Cent. Gold Bonds,
which are 10 be used to fund and retro the Com.
panys Five per cent. Gold Funding Notes. 10 retire
the existing Iron Mountain Car Trust Certihcates: to
esquire the outstanding mortgage securities OF Ger.
tain companies owning lines leased 10 the st. Louis
Iron Mountain and Southern Railway Company. az.
RreRating mileage OF moro than 82O miles; u ac
aure all or part OF the issue of the Second Mort
gage Five per cent. Bonds Of Tho Texas ana Pacihc
Railway Company; to mako improvements. better
ments and additions TO tho properties Of the Com.
pany and for other corporate purposes. The above
amount OF the issue OF bonds may be increased
by not TO exceed slOOOO.Uoo Of additional bonds.
which will bo reserved go that they can be Issued
from time to tno only for the acquisition or con-
struction and equipment of extensions and branches
TO the Company railways at a rate not exceeding
a12 600 par value OF such additional bonds tor 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 and stock
representing ownership
RE new bonds to be secured by mortgage
(subject 10 tho General Consolidated Mortgage) on
all the railroads. terminals and equipment owned
by the Company. and covering. as u first and only
lien. all stocks and bonds embraced in the trust
Of the Gold Funding Note Indenture upon satsfac-
ton OF said ndenture. aud all leased and branch
line bonds and stocks or the properties on which
they rest aud all T,Ias and Pacific Second Mort
gage Bonds which shall be taken up or acquired by
the of tho new bonds or their proceeds. and all
betterrnents improvements additions extensions.
and branches SO constructed or acquired.
HOLDERS OF SECOND MORTGAGE BONDS OF
THE TEXAS AND PACIFIC HALLWAY COMPANY
who shall, on OR BEFORE APRIL 18TH,
1899, deposit their bonds. with coupons pertaining
thereto sttached, with The Mercantile Trust Com.
pany. at its Office No. l2o 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, pror to September 1st 1899.
an amount OF the new bonds equal at par to sixty
FIVE C65 per cent Of the amount Of the deposited
bonds the bonds to bear interest from July lst
1899. DepOsitors have the privilege at the time Of
deposng their bonds to elect to sell TO Syndicate
at eighty.fve tHbJ per cent. OF their par value in
cash, the bonds which they will be entitled to
receive such price to be- payable at the Office OF The
Mercantile Trust Company, NJ the time OF the issue
of the bonds. aud suitable certificates will be
ISSUED to depostors electIng to sell. emitting
them 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 the
Trust Company 10 the 81 LOUIS, iron MOuutdln hnu
Southern Railway Company and pledged under the
new mortgage in consideration Of the issue and de-
livery 10 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
its certificates Of deposit entitled thereto. and also
20 the Syndicate above mentioned receipt from
the Syndicate OF the cash price thereof as above
stated for payment TO the holders OF certificates OF
deposit issued 10 depositors 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 The Mercantile Trust Company prior
10 September 1st. ls9s the deposited bonds are to
be returned without charge to holders of the respec
tive certificates therefor upon surrender Of their
tifcates.
Bonds not deposited before April ID. 1892
will be received df at alb only upon such terms and
condition as the Railway Company hereafter may hI
Itis expected that tho now bonds will be issued
and delivered against tho certificates OF deposit dur
ing the first week of July.
Dated March 81. 1892
The st. Louis, Iron Mountain & Southern R'way Co.
BY GEORGE ]. GOULD. President
A. H. CALEF. Secretary.