New-York tribune., 1913-04-02
EXTEND MATURING BONDS
st. Paul Road Makes Arrange
ments with Bankers.

The Chic so. Milwaukee & ST. Faul
Railway Company has made arrange
ments through Potter Choatc & Prentice
and Harris. Forbes & Co. TO extend 81
l55.oco Milwaukee 4 Northern Railroad
| Company first mortgage bonds until June
/ J., 1884. at an. interest rate Of AZ per cent,
payable scmi-annually june ] and Deem
/ ber /. Also like arrangement to exteud
the S.oS2eo Consolidated mortgage bonds
of the Milwaukee q Northern Railroad
Company TO June /. 1884. at an interest
rate OF AZ per cent payable semi-an-
nually June !. and December !.
Under this arrangement the holders of
these bonds are given the privilege of
having their bonds extended so that they
will not mature until June I. 1884. by de
posting them with the Farmers Loan
and Trust Company Of New York city.
and paying SIS for each first mortgage
bond so deposited and $40 for each Con-
solidated mortgage bond so deposited.
The coupons due June I. 1918. are 10 be
retained by the owners of the bonds.
! Upon so depositng their bonds with the
trust company they will receive trans
ferable receipts eXchangeablc for the
bcnds vnen extended and ready for de-
livery
The mortgages securing these two issues
will continue unimpaircd. the payment OF
principal and interest of both having been
assumed by the Chicago. Milwaukee d ST.
Paul Railway Company The first mort
gage bonds originally matured in 1910. but
were extended for three years. This issue
is a closed first mortgage. and covers IN
all 1855 miles of road. extending from
North Milwaukee to Green Bay. WIS,
with branches and against which the
first mortgage bonds are outstanding al
the rate of sl6 S03 mile The Consoli-
dated mortgage bonds. of which sJ,o92Wp
have been issued. are a first mortgage on
2l246 miles OF road, liC7S miles Of which
form a continuation of the main line cov-
cred by the first mortgage, extending
northward 70 Champion. Mich, together
with several branches. These bonds arc
also ~ second lien on the property Gov
cred by the first mortgage.
The Milwaukee IL Northern Railroad
Company was chartered IN June. 1880. and
in September. 1899. control Of the road
passed to tho Chicago. Milwaukee & 50.
Paul Railroad Company, the stock of the
former being exchanged for that of the
latter dollar for dollar In June. 1896. the
property OF the company was decided 10
the ST Paul. it's lines now forming AN
important part Of the St Paul system
which operates. In all. over 300 miles or
main line covering that section of the
country extending from the lakes 10 tho
Dakotas. and thence by It's Puget Sound
limo 10 the Pacific Northwest and reach
ing such cities as Chicago, St Paul
Minneapolis, Spokane. Seattle, Tacoma
Omaha and Kansas City.
As a legal investment for savings
banks the first mortgage bonds comply
with the laws governing such investments
i'm the states Of New York. Massachu-
setts. Connecticut, New Jersey, New
Hampshire. Maine. Rhode Island, Wiscon-
sin. Michigan. Minnesota, Missouri. Flor
ida and California. The Consolidated
mortgage bonds are a legal investment III
tho states of New York. Connccticut'
Rhode Island. New Hampshire and Min
ncsota