New Britain herald., 1925-02-16
NEW HAVEN ROAD FINANCING FUNDS
SubscriptioDs'Suicisnt to Pay Bond Holders

Hartford, Feb. 16. -- Announce ment that subscriptions received tc the refinancing loan of the New Ha' ven railroad are sufficient to pay 1T
 cash and in full the holders of the
 bonds of the s23,000.000 issue ma
 turing April 1 and appreciation oi the part played by New England in. dustries in helping to float the new bonds, are contained in a letter from President Pearson of the railroad company to Mr. E. Kent Hubbard president of the Manufacturers as- sociation of Connecticut, made pub lie here today.
 MT. Pearson states that in response to requests from many holders of the bonds to be retired on April 1, it has also been arranged to give them the option of exchanging all or part of their holdings for a like amount of the new bonds, on the basis of par for par. Bonds for exchange must be placed with the company's de- positories by March 14, while the subscription lists for the new issue will be closed on March z.
 In expressing his appreciation of the cooperation of the industries To- cated along the lines of the New Ha- ven, which have subscribed to sev- eral million dollars worth of the re- financing bonds, Mir. Pearson de- clares that this cooperation has al- ready produced results of great present and future value, both 10 the road and to New England interests as whole. He states, however, that further subscriptions are still desir- ed, in order that a substantial degree of over subscription may impressive ly demonstrate the unity of trans portation and industrial interests for the common good of New England, and also to permit the proportionate scaling down of all subscriptions above, say, s1,Ooo,
 Company's Notice
 The company's notification to holders of the old bonds is as fol- lows:
 ''To the holders of the New York, New Haven and Hartford Railroad company's IS year. European loan of 1907 (90fo extended at 7Ge) matur- ing April 1. 1925:
 Subscriptions at par to the New York, New Haven and Hartford Railroad companys 15 year secured 6qo gold bonds have already been secured to an amount which will en- able the company to pay the Europ- can loan in full at maturity.
 ''The company, however, has been requested by holders of the Europ- can loan to permit them to exchange all or part of their holdings for the secured 6co gold bonds upon the same terms as subscribers, that is to say, par for par. These bonds are issued in coupon form registerable as to principal, in denominations of s10o. $500 and s1,o0O, and registered form in denominations of s1,OO0. $5,0OO and s10,OoO.
 Complying with this request, and in pursuance of the companys off cial statement of November 25, 1924, the company invites the holders of the European loan to exchange for such an amount of the secured 6r6 gold bonds as they may wish to take by depositing their European loan debentures (after cutting off the April coupon) with any one of the banks named as Repositories of this company and authorized to receive and receipt for the same, or by sending the same to the undersigned treasurer of the company. Holders of the European loan should state at the time of deposit how much there of they wish to be used in exchange and how much paid in cash on April 1, 1925. The privilege of depositing for exchange will expire at noon, March lk. 1n.5a