The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-03-08
.SEAB0ARD' NEW
ISSUE Of BONDS
General Mortgage Filed in Nor
folk to Secure $4,000, ooo-Old
Bonds to BE Retired.
PURCHASE BIG LINERS
PURCHASE
Steamers for Washington-N Nor
folk Route Are Very
Handsome.
Especial to The Times pispatcl.

IL
NORFOLK, VA, March THE Sea-
board Air Line Railroad Company has
MED In the office OF the clerk OF the
Court OF Hastings In Portsmouth n gem
cral mortgage to secure the Issue of
Sls.oOO.OOO In bonds. guaranteed by tho
Morton Trust Company, with James j.
Burke, trustee.
cent, and are for twenty years. TIL.
proceeds VIII be used In retiring other
bonds and for improvements.
The mortgage Is in book form OF eight,
four pages. and will be recorded in every
state county and city clerks Office
through which the road runs. The State
OF Virginia will get less than 500 in
proportioned between the States throueh
which the rond runs on the number OF
miles In each State.
Buys Steamers for Line.
Announcement is made at Boston that
the new line which will run steamers
daily between Norfolk and Washington,
u. G., has bought the steamers City II
Worcester and c. III. Northam Of tie
New England Navigation Company, and
Dreamland, OF the Iron Steamboat Com
pany The two former are night boa:s.
which have been running on the Sound;
the latter Is a day boat, but will be
fitted with staterooms at once She is
the famous excursion steamer Republ.l.
renamed. She has a wooden hull but the
other two are steel boats. All three are
big, but the City OF Worcester is n mon
ster. She Is $40 feet long and Of 2,4So
gross tons register The Northam Is 325
feet long, of 1,4a6 gross tons register,
while the Dreamland Is 200 feet long and
OF 1,2S5 gross tons register.
The CITY OF Worcester Is nearly twtce
as large as the steamers Of the present
Norfolk and Washington line. The nh
| company's steamer Newport News Is Of
1885 gross tons. the Washing ton Of 1.243
gross tong. That of the City Of Worcester
| is 2,4s9. These Sound lines are famous
for their splendid fittings.
Mortgage Bay Shore Line.
| The Norfolk and Ocean View Railway
! Company. n subsidiary corporation, which
took over the property of the Bay Shor.
| Terminal Company for the Norfolk and
Portsmouth Traction Company. under
| Federal court sale, has filed mortgage
| in the office Of the city clerk OF the
| courts in favor of the Baltimore Trust
| and Guarantee Company. covering loan
| of s1,50O,000. The loan Is represented by
| a bond issue for the full amount, the
bonds being Of 1000 denomination, pay
able In gold coin thirty years after date
4 The bonds bear 1--WE per cent. interest
and are dated February sth.
| The loan is In accordance with res
olution adopted by the stockholders Ut
the Norfolk and Ocean View Railway
4 Company at n meeting held on F'cbru-
! airy sth, which provides for tho borrow
ing of the money for the payment Of tho
rights and franchises, property and 49,
sets formerly owned by the Bay Shoe
Terminal Company. and for the better
ment Of the property, as may he neces-
sary
or the sum borrowed 100000 Is immc-
diately used for the purposes above men
toned, and 100000 will be reserved fos
improvements and to pay any ndebted-
ness that may accrue against the COM
pany.