New-York tribune., 1900-05-19

IO HOLDERS OF
Lnke Erie Division First Mortmns- s per
cent Bonds. due Oct LIST, 1926.
Wheeling Division First Mortgage 3 per
cent Bonds, due July 1st. 1928.
Extension a Improvement > per cent. Bonds,
due Feb. 1st. 1880.
Toledo Belt Railway Co. Ist Mortgage s per
cent. Bonds.
In order TO secure permanent City
OF Cleveland. and adequate facilities there the
Company has since tho reorganization Wheeling
q bake Erie Railway Company acquired the Cleveland
CaCAon Southern Railroad Bel. and Terminal
hsaiiroad in Cleveland. II acquire
Coshocton Southern Railroad and the terminals and
Southern Railroad Company. thus obtaining indie
pendent line through Canton Coshocton
and terminals in that city,
The Cleveland Canton & Southern Railroad connects
with the Wheeling & Lake at Navarro md
Sherrodsville. 1t Is upwards 200 length
Guiding branches and with Belt Line
Coshocton Southern the GAINESVILLE terminals
connecting with the Wheeling Erie at Coshocton.
the combined properties total mileage
45S miles
The Cleveland line enters Cleveland
vantageously. its terminals business
centre of the city. and Cleveland
Terminal Railroad gives many railroads
Cleveland many large manufacturing plants
and other important industries.
These combined roads form a short diseot
tween Wheeling ana the cities of Cleveland Toledo.
ana touch other important points. such Canton
GAINESVILLE and connect with the various
these towOs
The bonds cover the entire prop
erty owned. and will Coshocton & Southern
Railroad Company from Coshocton to GAINESVILLE,
being acquired a mortgage o
road including branches. and by a general
property consisting of
WHEN The EXISTING DIVISIONAL MORTGAGE
BONDS ARE RETIRED. BY EXCHANGE OR PAY
MENT. THESE NEW BONDS WILL BE A FIxsT
LIEN ON THE ENTIRE PROPERTY. The present
mortgages are first liens only portions prc0
OF he hole
The earnings of the Company
ing 3ls March 1900 the Cleveland
divisions being included only August 14th 1899
show net surplus and above all interest
and taxes FOR that Of sl503s9 satisfactory
showing IS irrespective property
will receive from the Improvements under way,
the earnings should within a reasonable time show a
substantial increase
The authorized capital Wheeling and Lake Erie
Railroad Company consists of:
s15Oo0 OG0 FIRST CONSOLIDATED MORT
GAGE 4q6 GOLD BONDS. DUE sEPTEM-
BER 1st, l949. INTEREST PAYABLE
MARCH LIST AND SEPTEMBER Ist.
To disposed
Set aside 10 retire by present
outstanding bonds Company ..... Sc 100000
Get aside for the purchase of he Cleveland.
Canton and Southern
properties, for payment retire
Of outstanding obliga-
purchase or new equip
and the general improvement of
the Company road and acquired prop
critics .--...--..-......-.-..-....- 100000
Held in the only for
extensions requirement
Of additional dock prop
critics -.............................. 100000
Total Observation-Disclosures. .sI5. 900 900
Sc 100000 FIRST PREFERRED NoN-CUMU-
LATIvE 4q, STOCK. ISSUE LIMITED.
To be disposed follows:
Issued in accordance wsh the Plan Of Re
organization Wheeling
Erie Railway Company dated Febru-
7th 1898. ss.....-.......-............ s25oo.oOo
Issued for the purchase Of the Cleveland
Canton Southern and Line
properties expenses. .......... 800 900
Ser aside be issued Bondhoders under
the offer exchange. 1.5so.OOO
Total ..-............ ............ s.. 900 900
si2 100000 SECOND PREFERRED NON
CUMULATIVE 40 STOCK ISSUE
LIMITED.
To be disposed follows:
Issued accordance with the Plan Of Re
organization OF the Wheeling and Lake
Erie Railway Company Febru-
eth, 1898. Observation-Disclosures. 81 600 600
Issued purchase Of the Cleveland
Canton and Southern Belt Line
properties, and for expenses .......... 32IO 600
Set aside 70 be issued Bondholders under
the terms Of the above offer Of
change ........-..-............... 1000
To remain in the treasury needs
Of the Company. y...-................... 1000 900
Total NEUTRALITY-SUSPICIOUS.. .s12 900 900
500. 600. 600 COMMON STOCK.
Disposed follows:
Previously outstanding and the hands Of
the public .sl5 900 900
Issued for the purchase the Cleveland
Canton Southern Belt Line prop
critics OBSERVATION-DISCLOSURES ..--........- 100000
To the treasury for future needs
OF the Company. OBSERVATION-DISCLOSURES. 1000
Total ........-....... 500 OOo. 900
The Company considers the benefit accruing from
which will uniformly the entire prasan,
property also future acquisitions as more ad-
than the divisional mortgages each
which only portion system; and recon-
exchange divisional for first con
5O-year 40 Bonds due 1s49 first
preferred stock and second preferred Wheel
| Lake Rrie Railroad Company. o the following