Show HOCK ISLAND JONI Pro lr Leeds Issues I le Circular Clr StatIng New Nol hectic I ue of Will ISIli 11 bo ho b Asked New York Jan Ul W U Ii 1 Leeds of ot the tho Chicago Chiago Hodl Island bland Hallway company sent nt a 1 circe circular Halway lar tar today tolay to th tM stockholders of oC tho the company com setting forth that at nt the time meeting to he be held hell March 21 next they will wIb wil be hI asked to approve a u a I bond bOld Issue f sue of ot not exceeding the tho bonds to boar bear II Interest ll at the tue rate tate of 4 Pet pur cent mimi and to mature Inn tur a In iii 1331 1131 1 31 Of Ot the total sum stun O are arc to t be Issued forthwith are to be hc for tor retiring a lou Hock Island bonds are reserved to be lie Issued to provide funds for fur the amount of or 75 15 per percent Jr cent vent of or the tho purchase price rlee of securities of ot other oilier companies which may Iny ter Cr Iw lie acquired by 11 the time company 21 47 O are arc reserved res f d to II be Issued 1 not more than In any In one year for tor tho time cash ca h cost of ot future Improve or betterments anti and ore are oreto areto to o bo IJO held hell by the tho trustee to o bo be Ill Issued from rom time tI to time as 1 tho thom company shall shul furnish to the certificates stat slat In lag IK that It I has hal subsequent nt to Jan 1 I 1901 1904 expended an tin amount of at cash equal to tl the tho market of ot th new nI bonds so at Issued for tor or the thc acquisition of ot property prop erty erl which the railway company may many Iny un lawfully awfully acquire or In permanent or betterments Including on the tho th railroads subject to he thu new mortgage The Tho ho circular sets ell forth that Itt the board of ot directors decided It I to 10 bo ho prefer preferable able nt lt present to restrict refunding to the time requirements for Jor the tho ensuing 30 years enro This hl plan Wail deemed better than the ho former Cornier proposition which dated a to refunding period of ot 83 85 years It I t was wal itla thought olle to 10 limit the he aggregate M amount of the thu proposed sane to n a sum mum which would woul make moke the tho tew nelV bonds bon available for tor Investment under the tho New York bank law lam la |