New-York tribune., 1902-02-11
finantial.
st. Louis Southwestern
Railway Company
secured by Mortgage of February IL. 1901,
TO The Mercantile Trust Conn
pany, as Trustee.

Secured by Mortgage of February 12. 1901.
to The Mercantile Trust Conn
pany, as Trustee.
Tbs ST. Louis Southwestern Railway Company proposes
O) To finance the purchase system Of certain
branch lines and securities Of companies already
Quired or in process acquisition.
) To provide existing equipment obsaon. and Sor
expenditures already authorized for further equipment.
CD To make additional improvements and renewals Of
rosdbed and property which required provide
ereasing trarfc.
"a To provide definite resources for such further con-
struction. acquisitions and equipment lines be
found necessary IN the tributary
territory and the business OF the system.
The requirements purposes above indi-
Gated (subdivisons l. . and 81 the
neshborhood Of $4,000 0oO it is considered that
available resource OF at least SOO0oO should
oe constituted for the future purposes specified in sub
division 4.
The companys First Mortgage Certificates $4,000 ooO
and It's Second Mortgage Income Certificates 0oo
subject Increase are already outstanding
the amounts limited by Indentures securing them
Under the present Limitation Company's
for capital expenditures additional
equipment involves necessary Increase in the amount
which Is chargeable against income in determining net
earnings applicable payment on Second
Mortgage Income Certificates. construction and
QUESTION Of lines and property In the event
OF TIE merger liens hereinafter proposed) must be
financed largely the basis OF the independent security
thus produced acquired.
Under these conditions and the Company
may raise the money required for the above specified pu
its holders deemed proper and in the best
interest OF the holders Second Mortgage Income
Certificates to offer to said holders opportunity TO CO.
operate enable merger a substantial unihca
ton OF security with that and hereafter inde
pendenty avaahs the Company in carrying out the
foregoing purposes.
In determining the nature Of the new security
and character Of the lien protecting the the
Directors and Stockholders guided
by the extent OF cooperation the part CT the holders
OF the Second Mortgage Income Certificates.
The railway company accordingly requests
the holders of its Second Mortgage Income
Bond Certificates to deposit their Certificates
with The Mercantile Trust Company, No. l2O
Broadway, New York City. The Trust Conn
pany VIII receive such deposits up to and
including March 10th, 1902, upon the cOndi-
ton that all deposited Certificates may, upon
direction of the Railway Company and upon
advertised notice, be returned to the holders
of Deposit Receipts upon surrender thereof
without charge at auy time before May 31st.
then or heretofore so returned the holders
of deposit receipts shall have the right,
upon similar notice and upOn surrender OF
TIN cir deposit receipts, to receive new securi-
ties rights. or both, when and upon tho
conditions offered by the railway company
10 all depositors alike, or at their option, to
sell their certificates for cash at eighty per
cent. of their par value with accrued inter-
The acceptance of any Certificates and
the terms upon which they viii he received
Of at AID after March 10th, 1902. will rest
exclusively I'm the discretion of the railway
company.
D-positors will receive from The Com
pany negotiable Deposit Receipts which shall state that
issued upon the and conditions OF this
Application will be made FOR the listing OF the
Deposit Receipts the New York Stock Exchange.
Dated New York, February 9Th. 1902