The times. [volume] (Richmond, Va.) 1890-1903, 1900-04-18
CONSOLIDATION
NOW EFFECTED
Seaboard Air Line Mergg-
ing a Reality.
BIG MORTGAGE FILED
Provides for the Issue of $4,000
000 of Bonds by the Company,
FORTUNE PAID IN REVENUES
FORTUNE PAID IN REVENUES
President John SHELTON Williams
Talks of The Greater scabcard's
Plans and states That All Com
nccti:.- Links .yyill BE Fin
ishcd This s.tcck-Einan-
ci:i Statns OF System.

The first mortgage of the Seaboard
Air L.ne Railway TO the Continental
Trust Company, of Baltimore, trustee,
was flied in the Chancery Court yesteri
day morning, having been recorded in
Petersburg previous TO being sent here.
The amount of tax on the mortgage was
about $500.
The consolidation of the various roads
that compose the Seabcard Air Line Rail-
way is now u matter of court record In
the Chancery Court of Richmond at ] ID
=. n. yesterday the new consoli-
dated mortgage of the reorganized Sea-
board Air Line Railway Company was
received. and will be subsequently IN
every other State through which the
line extends. Including North and South
Carolina. Georgia. Alabama and Florida.
Nearly all the tax was paid in 500
stamps-ihe highest denoInination-but
a considerable quantity of smaller value
and of a variety of coiors We're also used
10 make up fractional balances They
We're pasted in, page after page, the
mortgage being in the form OF 4 book
The mortgage. which covers the entire
new Seaboard system. is represented by
j per cent. gold bonds, which are to be
issued according TO recent statement
issued.
ine amount of the mortgage is s6e500.-
O9a. and on the document are S1a,2li In
internal revenue stamps. and Si,oia IN
State fees. The mortgage was nled III
Petersburg. The document contains ~
80 Mords and the amount of State fees
only covers the mileage in Virginia
which is about 100 miles. The entire
systeI.i comprises about 100 miles of
track.
ROADS CONVEYED.
The original record was made in Peters
urg. The deed conveys to the Contlnen-
lat Il ue,t Con5sny, the SeAhoafd AT
I.tne, the Richmond. Petersburg and Caro-
lima railroad ara the Various branches, IN
cIuc.ng the Seabcard ard Roanoke, the
Roanoke and Tar River. the Raleigh and
5iaston the Durham and Northern. the
Raleigh and Augusta Air Line, the Caro-
lima Central, the Georgia Carolina ana
Northern, the Seaboard Air Line Belt. the
Palmetto. the Chesterfield and kershaw,
the South Bound. the Florida Central and
Peninsula, the Losansville and Lawrence
VILE the Georgia and Alabama.
The Railroad Company is about TO is
sue bonds te be known as First Mort
gage 0-year 4 per cent. Gold Bonds not
/ 10 exceed sIa,0t0A3o and to secure the
same by mortgage upon the lines OF
railroads. equipment and terminals, with
terests and properties. for the further en-
largernent Improvement and extension
of the COMPANY.
This railroad company is the owner OF
a main line of railroads constructed and
in operation extending from It's northern
terminus. at the city Of Richmond. into
1ts southern terminus. at Ridgeway. N
c. and through leases and ownership OF
securities controls other lines of rail-
road forming with said main line
system of railroads in the States OF
Virginia. North Carolina, South Carolina
Georgia and Florida, reaching Richmond
and Portsmouth. in Virginia: Raleigh,
Wilmington and Durham, in North Caro-
lima: Savannah and Atlanta, in Georgia.
ad Jacksonville, Tampa and Lake Charm
in Florida as we'll as other important
points in each of said States.
FOR REDEEMING BONDS.
For the purpose of refunding, redeem-
ing and retiring the existing bonds OF the
several companies whose lines of rail-
road form part Of said system of rail-
roads which have not yet matured, and
for the purpose of providing means for
paynent Of said bonds and other in
debtedness as the same mature ana Be
ceme due and payable, and for the nur-
pose of providing for the further en-
larsement, bctterment, Improvement or
extension of its railroads ard properties
and the acquisition of equipment there
for. and for the other corporate purposes.
the railroad company is about TO issue
its bonds, TO be known as first mort
gage fifty year 4 per cent gold bonds
to an amount that shall not in any
event exceed in the aggregate the prin-
cjpal sum of S15,ee9000 at any time out
standing, and TO secure the same by a
mortgage upon lines OF the rallroad,
eauiprnent and terminals With their ap-
n,,rtenances and the leasehold interests,
,.;,ia md mr.
iss,,e of the bonds is to, be Ss2 900,
with the right TO increase such issue
from time 10 time Such bonds shall
hear the date of April i, 1890 and snail
become and he payable on April ], 1880
and snail bear interest at the rate OF
four per centum per annum, payable IN
patJ coin on the first days OF October
and April In each year. The said BONDS
shall he issued either as coupon or reg
ts.ered bonds. The coupon shall be Tor
the principal sum of Sl,oN each ana
,s,,ail give the holder the right to register
4hc principal thereof, and also the right
IA convert the same into a fully register
Oh bond. The registered bonds without
counons shall be for the principal sum
of $500 or such mnltiples thereot as tae
company by resolution OF It's board OF
directors may from time TO time pre-
...r,ba and may be issued originally
either as registered bonds or In ex-
change for coupon bonds in an equal
amount
LIEN ON THE LINES.
in order TO secure the payment of the
hanas with interest thereon, the railroad
company has caused to be executed a
mortgage or deed of trust to the conti-
mental Trust Company. OF baltimore trus-
tee. which shall be a first hen on its line
OF railroad from Richmond to Ridgeway,
". C.. and also all franchises, appurte-
nanccs and equipment thereof and also
d lien uppn all the lines of railroad and
properties owned. operated or controlled
By the company when such lines Of rail-