Detroit evening times., 1945-02-12
LEGAL NOTICE

PeEe Marquette Railway COMPANY InYta--
Hon for BIDS for $4,000 600 First Mott
PeTe Marquette Railway Company herein
after called the company D. proposes 20
create issue OF 500 600. 900 principal
amount OF First Mortgage q Bonds, series ID
hereinafter called the Bonds j. under It's
First Mor'gaee and Deed OF Trust dated
July /, 1916. as heretofore supplemented.
ana a. 20 be further Supplemented by
Supplemental Indenture Hereinafter called
the proposed Supplemental Indenture'J 10
BankeES- Trust Company New YORK and
Hugh NICK. Landon Trustees and hereby
invites bids for the purchase Of $50. 600. 900
principal amount Of such Bonds, The Bonds
March l. 1850. viii bear interest payable
semi annually on March ! and September
at a rate (Which must be some multiple OF
the accepted bid viii be redeemable al the
option OF the Company, As whole or IN
published notice. or on any iptsfset-ess-
ment date prior 70 maturity on not less than
mined In accordance win The formula ap-
plying 20 general redemption set forth In
the draft OF the. Circular hereinafter re-
hts OF a SinklnE fund into which the Com
pany Will, so long as any OF the Bonds
payments. beginning on September l. le45
ot a OF lG OF the aggregate amount or
Bonds heretofore issued and sold by the
on March /, 194S, In certain additional
amounts contingent on net income. as more
iullN set tOIin IN Inc proposed supplemental
lndenture Bonds shah be redeemable for
the sinking fund on any interest payment
date. on not less than 30 days published
notice, at prices determined In accordance
with the separate formula applying 10 re-
demplion ior ne sinking iund set forth IN
the draft OF Circular. At the option of the
made either in cash or In Bonds. or partly
In cash and partly In Bonds. For this pur-
pose. Bonds shall be credited az the cost
thereof 70 the Company OF at the singing
fund redemption price prevailing on the next
ensuing redemption date, Whichever is lover
All Bonds redeemed or othcrwise ACQUIRED
through the operation OF the sinking fund
shall be Cancelled, and so long As any Of
the Bonds are outstanding, no bonds Of any
series may be issued under the Mortgage IN
The issuance OF the Bonds and the sale
Of $50 900 900 principal amount thereof re-
auire authorization of the Interstate Com.
merce Commission. Acceptance Of any bid
"ill be subject 70 and contingent upon OBJ
tanning such authorization.
The proceeds realized from the sale of the
$50 600 600 principal amount oi BONDS lo'
gcther with such additional funds from the
Companys treasury As may he necessary. will
be used for the redemption a. the earliest
o fi f @oFsre Nj ns ePT Sonds ssfa
3, and c. Of the Company.
This invitation for bids Is made pursuant
20 the regulations prescribed by the Inter
state Commerce Commission In its order %
October 6, 1919. as amended october 4,
ls2o s n it i posStt poo TX Psrs sr[. No ooo
600 principal amount OF Bonds. and no bid
AZ less than asl7F OF such principal amount
edn,SenSd sS4a P' Dss ss'gHa must Bto'ss ss sa6cd h
duplicate on the Form OF Bid, accompanying
the Invitation TO Bid bearing even date here
with whirh. together with draft OF Cir.
Cular setting forth information concerning
the Company and the Bonds. Is being dis
tribut-d 10 all persons ~ whom the Conn
pany has knowledFe as being possibly Inter
ested In the purchase ct the $50 600 600
oi Bonds Bids must be enclosed with ac-
curely sealed bearing no Indication ot the
name of The bidder or bidders or the amount
q s Gd se gndc c ,bp Pf9Pss 9Dss
signed al his office at $500 Terminal Tower,
Cleveland l. Ohio All bids must he re-
noon. Eastern standard Time (which is one
hour slower than Eastern War Time, on
February 10. l94S Bids 50 received VIII he
opened by the undersigned or, IN his alb
sence by W n Wcnncmsn. Vice-PrcSidcnt.
or n r Lohmeyer Secretary and Treasurer
~ the Company az said office Immediately
Time, on said date and persons represent
Ing bidders may be present and examine esch
must be accompanied by ccrtihed or bank
cashiers check or checks In New York Clear
E hSe e on gnoS ~ % :, 15sfgs, 6s py,s, 81 sS Psfe
Marquette Railway Company In the case Of
the successful bidder or bidders. such check
or checks will be retained by tho Company
as security FOR the faithful performance by
such bidder or bidders OF It's OF thel obl-
gation 90 take and pay Tor The $50 900 900
bid and IN the absence of default on the
part of such successful bidder or bidders
Will be applied on the purchase price thereof
AT other checks shall be returned promptly
after The award has been made. No interest
will be allowed on the amounts oi checks
FuEE!SAsa- -hy -hiddaEs-
The Company reserves tho riFht 70 re-
Iect Any and all hidk= Unless the Company
shall reject all bids notice ~ acceptance of
the most favorable bid. subject 20 the ap-
pToval - the Interstate Commerce Commis
sion. Will be given orally. Cr by telephone or
telegraph 90 the successful bidder or 20
the representative ~ the successful bidders
not later than O'Clock y m Eastern
Standard Time. on February 10 lA45, ana
all bids shall be irrcvocable until that time
ANY bid not accepted a. such time Will be
deemed 60 have been rejected Determination
0f the most favorable bid will be made on
mo basis ~ the lowest net Interest cost.
arrived At bv computing. a. the rate named
$50 600 600 and dcductinF therefrom the
premium. or adding thereto the discount n
any resulting from the price named In such
cory ~ the said First Morteage snd
Deed % Trust. - the supplements thereto.
and ~ a draft ~ the proposed supplemental
indenture ttn which documents reference "
made for more complete description ~ the
terms - the Bonds and ~, rights of the
holders thereof and COPY ~ ths eppli
sion and accompanying eShibits viii be avail
able for inspection AZ the office OF the Sec
rrfary ~ the Cowpauy. 5000 Terminal
Tower Cicyeisht ohio. and A. the office ~
me Corporate. Trustee Bankers Trust, Com.
pany 70 Wall street New YORK. y
PERE MARQUETTE RAILWAY COMPANY,
By r. J. BOWMAN.
Cleveland Cnip
February ,, loN