New-York tribune., 1908-06-12
rpTE FINANCE PLANS
,.To Re Ertended, and Bank
ers to Bag Coupons.

.o- meeting the financial require
Further -. Erie Railroad Company We're an
rrents % o-a4.-ssv embracing the extension or the
sounoeN SS.,s issues mstnrins IN the current year
erg W. o-,-reroert under which hanhers are 10
snd 81 -. coupons for interest falling que at
rsrchsr.. r-ior to July !. 1909 Two months ago. "
sny tine ,.s,se-ee the directsrs authorised the
Ill be 'el,io .ao.o -,er cent three-yesr notes. of
,1e ot ,I,~;,,sn purchased s5.5soeao. prevent
vfch % S,4 nv the company on Its ss.heeeoo OF
nc "' -.,s On April S: an arrangement was
re'es -. purchase by Morgan syndicate ol
rsoe ~ &C. e nsaer Of the new Issue lor cash
20: nee ,be remaining sa5Haeo was reserved
-. and safe hereafter .,
n issue aH -,,,,h II is proposed to extend until
ne oo -e the 81 Elnn 600 per cent first mort
yaN + E.o IS ,hs Buffalo & Southwestern Rail
fzes bonus end she 81 100000 per cent second
-ssd Conlpa-, honds upon the Buffalo & South
ar h'o ..,s;or Of the Erie Railroad COMPANY
sefe'h Maturing on July l, lse- Inc interest
r,h iss-e. sxtsnded bonds Of both issues is TO De
-s* e 1snn5s may be deposited up 10 june ~ %
iN ,sorrar & Co, who Will purchase az par
VII .hs sards as may not be eNA'elioeu. Do"u'
sc, o ~. -s.tipe- their bonds for extension VIII
ssa -oxrasnt in cash Tor the .H's
80 go ,,svrnent OF s2o q bono.
So os- CO.. n the holders OF prior lien snd
y - bon5s under the first consolidated mort
ss'eS. erie Railroad Company ADVISES 'AeIi
so - s.si7ess depression has so reduced the net
81 ts -. .,,s-e will he 8 deficit in the amount
ss1nss g Meeting the fixed charges for the
rscsss1s -s;-s- On June 80 Among the steps
tss .'o .s+i-,r this situation, the circular con-
HSsl = = o--a1reraent has been made under whch
f-1sS' - ca ~, interest falling due at any time
~ oea'o 40oe may be purchased for cash END,
q 70 'I.,-.a '--1 lien Deposited and pledged under
rfh -.s..- ;-ssutrIre Of April s. 1908, as addi-
o. os. f,- f1,e issue Of s55, ,oooooo per cent
r'a.' ,,-o1,s zers OF the coupons agreeing TO
H'''s u. ~ - ne- for the amounts advanced for
s,,h purchases. Gov r.s,
- 'F---s .s,,a ,,r, July next on the two classes
" .-,a5 There are S3s. .aoe oo Of the prior
9 A-s- Se-e .,5 s44el2eao outstanding OF the gen
y - h,asS interest on which, at per cent,
I'd p -.x. Two half yearly periods will amount
,sgu The bankers paying this interest will
-. sE cr1upensation an equal amount OF notes
- !, the 81 500 6oo reserved
y. .s-,rae-sry relief Afforded by this arrange
- ,bs circular continues, viii probably suffice
= ,ss maintenance and operation OF the property
a-v fhs ri-rert calendar year, but viii not be
s.sn+ for completing the improvements begun
= -ss-s Ago The general mortgage bonds, from
:. Gals a. which il had been expected 10 get the
,ss sa- such improvements. are salable only at
.,l;4ive rT7ces AS the improvements all serve
= +-sasths7 the security Of the general lien and
--s-.l mortgage bonds. & plan is soon TO be
.,,,a5 far funding The coupons maturing on
"a. bonds fer period sufficiently long to enable
!, ss-ursnv rIt Of its current funds TO complete
=. i-nu-oyerlerts now under way, and thus get
8. bsssht Of the large expenditures already made.