New-York tribune., 1899-02-19
s2,5oo,ooo
Michigan Telephone Company
CONSOLIDATED MORTGAGE
GOLD so BONDS

III
M are in coupon form with provision for registration of the principal
1bpv are practically First Mortgage as only S285o0O OF the
s75OOOO First Mortgage Bonds originally author
lied will remain outstanding.
II c... c,ona .................. %o~oOo
/ s, % w~tgoe So bonds due sSS@o
4 crd,ed Mtce soo issue. ASoWw %oS"Vo
/ . net earnings for five years. OF in
\ ent applicable II dividends So""
(Sl, letter bnqr from President Charles Ghddsn)
,a,1s, ,s.oSs Ss5 1885, sss 15.5es 1869
estimated that the subscribers approximate 10000
the above issue Of bonds subscription SO IA and accrued
t,rss 70 date OF delivery. payable as follows:
l amer cent or $50 per bond on application
IA p cent and accrued interest delivery March 18TH Apphca
will he made to the bonds listed the New York and Boston o'oCK
HISTORY The Michigan Telephone Company organized in 1883 under
Iriqan and has since acquired property rights
rl TELEGRAPH Construction Company OF Detroit, and the
.n Bell Telephone Company thus becoming the sole hcene OF e
mecan Bell Telephone Company the entire State which contains an oerat
mo- area Of 81 i3O square miles, and population by the last federal census Oh
s2nWO
PROPERTY The value of the property shown on the books
M Coanv December S227O01sl upon which Mers'
Stone Webster Electrical Engineers reported at that tne
ass ssss % : % 's:. the ss S n" s
subsequently there has expended construction $sO9o'963' or
M December g. 1898 OF approximately, 3OOoOOO Including
suc provided for by the proceeds OF this ISSUE the eoP na any WIZ III ~ ]
property valuation exclusive OF 1ranCnSeS' VI dooo' 9'o' ~
S27S5OOO outstanding bonds
lis dated February 6h s99 Mes Stone Webster report
Of recent examination part the follows:
t ~s' Grand % % %G n. nal % of ;At
] .S ,r tension. as f% n % st:% S %" e." bee" well
MANAGEMENT Michigan Telephone Company has recently
been secured by Telegraph Telephone Co., whose proposed policy
outlined in the following from Mr. Charles j. Gden the President
d each o aforementioned companies
GENTLEMEN: ~ - 6,. q M ,t.,,oD r1anlnne S COMPANY
he l ani" 5 Of the proceeds Of Mortgage Bonds
S To3 Moss @ 1 Bonds % t.. of the Com M
with the holders OF these bonds or ' purchase OF
S%l s',s To- "plaHo nG and
uNGley at tl following lIHCe pnn,nc. ero
For l @ ran , 1i onaDs
s % 4o s 'a?fs sa Sss to as.as 1sc s sass % % 9s @ ct
service sections the State not ALREADY ,S}
and copper district % Of the upper per peninsula % % ] t @ @
F~1S To pacns extra copper
Tu To- 1oy c cost Of
Our 1ag has nrrn that extensions and improvements
largely increased o providing
/ ~ @ ana 1GoT ng ~ ~ cHAs J G1IDIEN, President
MORTGAGE The trust deed provides bonds
Is follows:
S25OOO for extensions and TO Immediately retire s3c'OoO
fTs Mortgage bonds.
SOOO be reserved by Trustee for future extensions and to re-
l fire the remaining First Mortgage bonds outstanding
REPORTS legal requirements the preparation the bonds and
mortgage have performed under the SUPERVISION and with the approval OF
s Storey the physical condition OF the property has been
cnnel by As Webster whose valuation thereofis herein stated;
e accounts have been examined and reported by Mr. Henry A.
l Pe, expert public
II Copies of the reports areo open inspection
II Directors of the 1ichigan Telephone Company
ROBERT cowRY Western Union Telegraph co., c"agG ILL.,
FREDERICK FORBES Michigan Telephone co., Detroit M'n
CHARLES GIDDEN Telegraph Telephone Co., lowell Mass
WILLIAM Telephone Coz Chicago Ill
ROBERT T. LINCOLN Pulm"H Palace Car COZ Chicago % II,
JAMES McKlNsTRY Telephone co., Cleveland OH"
Il HUGH MCMILLAN pres. Commercial National Bank Detroit Men,
Subscriptions will received at our offices until Monday
February 2O o'clock M, unless terminated at our discretion
/ POOR & GREENOUGH
Il BANKERS