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Show I Two Million Dollars' Worth of New Bonds Are Offered to Shareholders. RUN THREE YEARS PAY SEVEN PER CENT Prior Liens of Six Millions Now Exist Against This Organization. Preslck'nl Barton Scwoll of the Bradon f'nppci iMlnos mnniiany has Issued a statement state-ment In rcsHJjMo tho recently authorized SI 000.000 boiW Issue, with instructions for stockholders liiEirinjr Ui pnrticipato heroin. All stockholders who -wero of record oil May 15, a r-: entitled to, subscribe sub-scribe for thrtsi; bonds' at par, tho basis boliiR ono 5500 bond for each 300 slmnis of stock hcicl on tljo above date. The -statement says: "Two kinds of warrants aro Issued. onci tcrtifvinp a. right of subscription for onci or niort- full bonds of S500 each, the other for fractional rishts of subscription upon a basis of S1.C61 par value of bonds for one share of slock. Any subscription for hond. on fractional rights to subscribe wll not bo received by the company unless un-less the nggrceatp o( such fractional rights presented equate the full subscription subscrip-tion for one or moro $500 bonds. "All warrants must be returned to C. K JJpman, treasurer, room 17H. 165 Broadwav, Nw Vork City, on or before be-fore June 15. Wll, willi (lie subscription subscrip-tion blank on the back of the warrant dulv -signed and accompanied by remlt-tanu remlt-tanu In Now York exchange for 50 per cent of the amount of the subscription. A negotiable- receipt will be returned to 'he subscriber. The balance of tho amount of Ihc subscription is payable on or beforo October 1G. 1911." Tin statement says thai the enllro Issue Is-sue has been underwritten. Tho bonds run for :i period of three years and bear 7 per cent Interest. They are payable In cr!d and are convertible at any time prior m March J. 1011. Into stock of tho com-pam com-pam at par. Tlny arc unsecured c.v-rept c.v-rept bv the obligation of the company In th bond expressed that It will not fur-ipu fur-ipu mortgage or encumber or pledge aw, of Us "properties or create any liens' ei claims asrainsl the same which shall take precedent s over this issue of bonds. horo are prior liens now existing of i bond issue of J4.000.000 and a second lr it issue of ?2. 000.000. |