| Show 61 2 0 0 0 0 0 i Missouri Pacific Railroad Company t FIRST AND REFUNDING MORTGAGE 5 GOLD BONDS SERIES I I. I Dated February b 1 1931 Due February 1 1981 Interest Pa Payable able February 1 and August 1 1 in New Y York rk City Redeemable at the compan company's s option as a whole or in part upon 90 days days' as notice on August 1 1936 or on any interest payment date thereafter until and including including- August 1 i 17 at and accrued interest and thereafter at and accrued interest Coupon Bonds in in denomination of 1000 as to principal Registered Bonds in denominations of 1000 1000 and Coupon and Registered Bonds and the several denominations of Registered Bonds interchangeable I The issue and sale sale of these bonds arc are subject to authorization by the Interstate Commerce Commission GUARANTY TRUST COMPANY OF NEW V YORK CORPORATE TRUSTEE L. L W. W IT Baldwin Esq President of the tile Missouri Paci Pacific ic Railroad Company has JUIS furnished us with the following statement concerning the company and this issue of 01 bonds PROPERTY The Missouri Pacific Railroad Company operates more than miles of road o of ol approximately miles represent fee mite mileage age miles arc are lines lilies operated under contract and ad miles n Ies arc are leased lines and rights over other railroads The main lain lines of the company together with those of subsidiaries directly or indirectly e controlled i extend from the St. St Louis gateway westward t to a connection with the lines of the 50 owned Denver is Rio Grande Grandc Western Railroad Company est cst to the Mexican border and south to N New ew Orleans and other gulf ports PURPOSE OF ISSUE These bonds arc are being iss issued to provide for the tile retirement of principal principal principal prin prin- cipal amount of St. St Louis Iron Mountain I Sou Southern the ru rn Railway Company general consolidated railway and land grant mortgage 5 bonds maturing Ap April ril 1 1931 for the making of oC additions betterments and improvements to the compan company's s property and for other corporate purposes SECURITY Upon the satisfaction of the I ron Mountain consolidated mortgage now constituting a first lien on 1538 owned miles mUes the first and amI refunding mortgage bonds will be secured by a a. first lien on n miles les of owned railroad On 12 1209 09 additional miles of owned 0 railroad they will have ha havea haca a direct lien Hell subject to the prior liens of less tha than Ii 11 of bonds outstanding in iii the hands of ot the IlIC public Of the tile prior lien bonds all are secured cd by mortgages closed by the first and amI refunding mortgage and principal amount matur mature e c in the year ear 1933 The aggregate amount of fir first t and md refunding mortgage bonds and amI of prior lien Hen b outstanding in the hands of the public upon completion of this financing and the retirement o 0 of I f the Iron Mountain consolidated mortgage bonds ds will be at the rate of oC less than per mile of 0 owned railroad The bonds arc are also secured b by a first lien on all aU the bonds and capital st stock ck of the tIle Missouri Pacific Railroad Corporation in Nebraska owning 34 8 miles of railroad operated by the company compan under contract and on par value alue of or the Texas Pacific Railway Company 5 per pcr cent preferred stock EARNINGS Below arc are shown for the five years ended December 31 31 1930 the pan cOn company's s gross operating revenues re income available for fixed char charges fixed charges exclusive of interest charges on bonds junior to the first and refunding mortgage b bonds total fixed charges and net income Income Fixed Charges Charres Available Other Than Ihan ToUt Yati Ended cC l Gro Net tt December 31 Operating for Fixed Flud Interest on or Flied Fixed Iud Income Rc Churn Charges Junior Bonds Dondl Chaises Charns 1926 1927 1928 1929 1930 1 In the five years cars covered eo by the tile above table earnings s of the company available a for fOl fixed charges averaged more th than n 1 4 3 times all fixed char charges es other than Interest charges on Oil bonds junior to the first and refunding mortgage bonds and in 1930 a also Iso amounted to aver 1 4 3 s such charges Total fixed charges were verc covered ered on the average about 1 2 1 times in the year five and more marc than 13 times in the year ear 1930 EQUITY The Thc company together with its wholly owned Nebraska subsidiary has z a net investment invest invest- ment in road and equipment after reserves for tor depreciation o of equipment in excess of and investments in affiliated companies of more than a total of This compares with total funded debt an and d equipment trust obligations to be outstanding gh gf jn inc effect to this tills financing and the retirement of the Iron mountain consolidated mortgage bonds Of or orthIs this total debt represent bonds junior to the first and refunding mortgage bonds The company's balance sheet ot or December 31 1930 1030 shows outstanding par value 5 5 cumulative preferred stock on which unpaid accumulated dividends amount to 1825 a n share and par value common stock The Tile indicated indicate d market value based on current quotations of the bonds and stock of the company junior to the tile first and refunding mortgage bonds is over Dividends of 5 per annum are currently being pal d on the preferred stock TilE THE ABOVE BONDS ARE OFFERED FOR SUBSCRIPTION SUBJECT TO THE CONDITIONS STATED BELOW DELO AT Arf 95 H AND ACCRUED INTEREST Il TO fO YIELD OVER OVEn TO 10 MATURITY r Subscription books will be opened at the tite office of J. J P. P Morgan organ Co at 10 o'clock a. a m. m Tuesday January 27 1931 1931 and will be closed in ill their discretion The fhe right is c reserved to reject an any and all applications und and also in iii an any case crise to award a smaller sJ amount t than applied for All subscriptions subscription will be received subject to the tile due 1110 authorization issue and sale of 01 the bonds as planned and to approval ul by b counsel cl of 01 the form and validity of the tile related documents and proceedings The rue amounts due on allotments will vilI be P payable Jable a at t the tile office of J. J P. P Morgan i Co in New York funds to their order and and the late date of payment on or about February ry 17 1931 will be stated in the tue notices of allot allot- ment Temporary bonds or Ol interim receipts exchangeable for definitive bonds when received arc t to be bed d delivered J J. J r. r MORGAN CO KUHN LOEB CO GUARANTY CO COMPANY OF NEW YORK FIRST NATIONAL BANK NEW EW YORK THE NATIONAL CITY COMPANY COl CHASE SECURITIES CORPORATION BANKERS COMPANY COl OF NEW V YORK The above c offering is confined to banks s savings institutions an and registered 1 brokers and dealers deniers in securities in ill ill U Utah tail New York January 27 27 1031 2931 |
