Bisbee daily review., 1909-04-04

 TAXES OVER PROPERTIES
Canadian Company, 0rganiz- ed By F. s. Pearson, Has Purchased Railroad and Mining Interests

Purchased Railroad and
 Mining Interests
 The deal of Dr. F. s. Pearson and his Canadian company fer the Chi huahua and Pacific Railroad. the { Sierra Madre and Paciis railroad, the immense timber land holdings of the Sierra Madre Land and Lumber Co. 1 and other timber Hands in th.s state and Sonora now appears to bs cer- | tain. He has organized q corporation known as the Mexico Northwestern Railway Company" under the laws of Canada With a cap talization oi ! st0.000,000 gold to take over these 1 properties and has advertised for sale through the Bank of Scotland of the | first issue of bonds the amount of SS.000, 900 gold
 The company's a5briStyed prospec- tus and advert sement which appears below states that 1t is taking over the properties above named, ieavs ! the impression that it may take over | the Rio Grande. Sierra Madre and | Pacific railroad, which runs from El Paso and Juarez Nueva Casas Grandes and migat build the projected "a lroal ! from Chihuahua to MonclOva, C-ah., and states positively that cons der able railroad building will be done at once. that the sawm Ills at Meders, i will be started by July 1st next. and that later the railroad will be ex. tended through the Sierra Madres to I fh1 p1c fir cfaGf in CnuCr-a
 The prospectus and advertisement above mento.ned Is taken from the Glasgow tScorand) Evening Citizen of March 8 is as follows:
 Abridged Prospectus
 The subscription 1st will opan or l Monday, Marcn s. 1909. and close on CT before March II, 1909, at D. III
 The Mexico Transportatson Com. pany. Limited, incorporated under the laws of the Dominion of Canada An appl-cat OOn to the parliament oi the Dom nion of CInaia is pend ng 1 with the object of incrsas ng the l companys powers and changing the ] name to Mexico Northwestern Rail. 1 way Company. share capital auth2ri- | zed at S40,000000; issued, S15,00O,- 900. Bonds are first mortgaee fifty. year gold bonds, 5.000,0 pounds i sterling, of waicb 3,000.000 pounds are issued Csubj,ct to increase as be- 1! low mentioned) bearing interest at per cent per annum-
 The Bank of Scotland is author. ized by the contractors of this issue to offer on their behalf and to re- coive applications at 90 per cent for f2,4O0.000 five per cent first mort | gage ffty-year gold bonds, being part of the e3.000,000 of the above men tioned issue. h denom' nations of each. payable as follows: s10 on application. e25 on allotment, e25 on May 1, 1909, and e30 on June l, 1909, or the whole may be paid on :; allotment CT on any Wednesday pr.or to May lst, 1909, under discount at 1, the rate of per cent psr annum- | Interest at the rate of 6 psr cent per annum VII be charged on over due installments.
 | The first full half years interest coupon in respect of tSe bonds now offered will be paid on 1st of March, 1910. but the allottees will be en- titled in respect of the said bonds purchased to an interim coupon on 1st of September, 1909, for interest at the rate of per cent per annum, | calculated on the various install ments from tse due dates thereof to | 3fst Of August. 1909.
 The issue of e5,OO0.000 first mort | gage 50-year gold bonds. bearing in- terest at 5 per csnt per annum, is created under the authority of the bylaws of the Company and will De secured by trust deed in favor of the National Trust Company, Limited. l of Toronto. Canada. as trustees, to be dated March 9th. 1909. Under the terms of the trust deed the bonds are constituted specific first charge. first on the immovable property of the company and on all bonds. de benture, deyenture stock or other securities or shares of other com panies owned by it, and general | floating charge upon all other assets and property of the company. The l bond issue may. subject to and un- der the provisions of the trust deed, he increased for extensions of lines, construction of terminals, doub e 1 tracking and ether spec al purpose as therein mentioned, 1t being pro v.ded that all additional securities and assets acquired by such additional bends. or the proceeds thsreof, shall form additional security for the entire 1 bond issue.
 The said bonds will be dated the list of March. 1909, and are redeem able at par an tae fst of March, 1859 by means of annual payments by the company to the trustee. commencing 1srt of March. 1919. to be applied in annaal drawings at par or by pur case of the bonds on the market or by tender if they are al or below that price, or the bonds may be re deemed at 105 per cent at any time c: six months notice or on the com pany going into voluntary liquidation for amalgamating with any othel comp aoaornympc ally lyaily lyairly