The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-01-19
BIGGEST MORTGAGE
ON RECORD HERE
The Raleigh and Gaston's
Filed Yesterday.
REGISTRATION FEES $27
REVENUE STAMPS AMOUNT TO
$1,000.
THE PROVISIONS OF THE INSTRUMENT
The Bonds to be Issued by the Road Are Fifty
Year Gold Bonds, Drawing Five Per
Cent. Interest, Which is Also
Payable in Gold.

The trust deed made by the Raleigh
Trust Company, of Baltimore, was yes
terday filed with the register of deeds
of Wake county for registration. This
decd, as stated yesterday, is to secure
the issue of $5,000,00O first consolidated
mortgage and collateral trust fifty-year
per cent gold bonds, dated January
LIST, 1900, due January list, 1850. The
coupons are due january LIST and July
list.
The mortgage is given on the follow
ing railroads, stocks and properties:
The Raleigh and CASTOR Railroad, eX-
tending from Weldon to Raleigh, with
all its appurtenances, rights, privileges
and franchises. Also all the right. title
and interest which Raleigh and CASTOR
Company now has or may acquire here
after in the following roads
l. The Raleigh and Augusta Air Line
RailrQad extending from Raleigh to
UamIet, and the branch line from Ham
bet to Gibson. Also 5000 shares of the
capital stock Of the Raleigh and Castor
road, out of total issue of S,136 shares.
,. Georgia, Carolina and Northern Rail
way Company. from Monroe to Atlanta
Also 1O,I4O shares of common capital
stock of the road out OF Il total issue OF
GOO Shares, and ,, 461 shares of preferred
stock. being the entire issue of such stock.
y. The Carolina Central Railroad from
Wilmington to RutherfCrdtcn, with its
Henrietta, Hilton and Ellenboro
branches. Also 9,640 shares of common
capital stock, out of total issue of 10
u, d
stock out of total issue Of 5000 shares.
4. The Seaboard Air Lime Belt Rail
road Company from Belt Junction@to
Wanda Junction, in Georgia. Also 491
shares of its capital stock out of total
issue of 5000 shares.
D. The Durham and Northern Railroad.
from Durham to Henderson. Also 1900
shares of its CAPITAL stock out OF a total
issue of 2901 shares.
6. Amy and all other property of any
kind, including stocks. bonds. claims o.
indebtedness, which from time to time
hereafter which may be conveyed and
mOrtgaged or pledged and delive;cd by
the Railroad Company to the Trustee
According to the resolution adopted III
the stockholders meeting, and set forth IL
the instrument filed, this mortgage IS
made to enable the Raleigh and GaStlh
Railroad Company to issue bou.lS for
the purpose of refuEding, redeeming and
retiring the existing mortgage bonds OF
this company, for the purpose of provid-
ing for the future enlargement, better
ment improvement or extension of Its
railroad and properties and the acquisi-
ton and equipment thereof, and for its
other corporate purposes.
To do this the company will issue its
bonds to be known as first consolidated
mortgage and collateral trust fifty-year
; per cent gold bonds to the amount of
$1,000. coo pro sent issue, with the right
to increase such issue from time to time
for the purpose of refunding, redeeming
and retiring the existing bonds of the
Raleigh and Augusta Air Line Railroad
Company. aggrcgating S1,O00,000 par val
ne. and also the existing mortgage bonds
of the Georgia, Carolina and Northern
Railway Company, aggregating 1890
900 par value. as and when such increase
in the issue of this cOmpany'S said bonds
shall he authorized and approved by the
stockholders.
The bonds will bear date January J..
1900. and shall be payable ON the hrSt
day of january, 1850, in gold coin OF the
United States, and shall bear interest ut
the rate of ; per cent. per annun, paya-
bic in gold on the first days of JANUARY
and July in each year. The coupon bonds
shall be for the principal sum of Sl,OOo
each. The registered bonds without cou,
pous shall be for the principal sum OF
81 900 or such multiples thereof as the
company may by resolution prescribe.
This is the largest mortgage ever regis
tered in this county. The registration
fees are $27, and the revenue stamps
required OH it amount to $2,500.2O. There
were just fifty $50 stamps and two III
cent stamps.