)
U
F
THE
i C hi cago a n d St
C o mpan y
.
,
,
TO THE
S
T
O C
J U
KH O LDER
LY
1
,
1 889
.
C IN C INN AT I
E
P R E SS OF RO B ERT CL AR K
.
$
1889
.
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CO
.
S
,
L
o ui s
DI R EC TO R S
B O AR D O F
C O R N ELI US VA N DERB I LT
W I LLI AM K V A N DERB I LT
C HA U N C EY M DEP EVV
O RG AN
J P I ERP O N T M
G EO RG E B LI S S
H MC K T W OM B LEY
ES D LA YN G
J AM
S J B ROA DW ELL
A LE$ A N DER M C DO N A LD
O R LA N D S M ITH
M ELV I LLE E I N G A LLS
W I LLI AM P A N DERS O N
AMO S TO W N S EN D
J AM ES B A R N ETT
B EN J A
M I N S B RO W N
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C i n c i n n a ti , 0
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C l e v el a n d , 0
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O F FIC
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,
ER S
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.
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.
$
.
,
OSC A R G M U RRA Y
.
Vi c e P res i d e n t
S ec reta ry
Trea s u rer
Tra f$ e M a n a ger
.
,
.
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-
,
.
.
,
DRE$ EL MO RG A N
CC
Ne w Yo rk C i ty F i n a n c i a l a n d S to c k Tra n s fer
.
,
fi 9 2 889
,
Ag
en
ts
.
.
S
T A T EM ENT
OF
D
i recto rs
ho ld ers
the C level an d C in cinnati C hi
of
ca go a n d
THE
,
St
.
L
o ui s
.
Ry C o to the
W
.
J u l y 1, 1889
—
,
.
s to ck
.
_
O n th e 27 t h of J u n e 1889 th e C i n ci n n ati I n di an ap ol i s
St L o ui s a n d C hi c ago R ai lw ay C omp any th e Cl e velan d
C ol umb u s Ci n ci n n ati a n d In dian apoli s Railw ay C o mp a n y
an d th e I n di a n ap ol i s a n d St L oui s R ail way C ompa n y were
co n s ol id ate d u n de r th e n am e of th e Cl ev e l and C i n ci n n ati
Ch i c ago an d St L o u i s Rail w ay C omp an y an d fro m th e first
d ay of J u l y 1889 th e ac c o u n t s an d op e rati o n s o f th e th re e
c o n stit u e nt c omp a n i e s h ave be e n m e rge d i n to th e c o n sol i
date d c ompa n y A copy o f th e agre em e n t fo r c o n s oli dati o n
w i l l b e fo u n d at t h e e n d o f th i s rep o rt fo r t h e i nform ati o n
of st o ckh ol de rs
O w i n g t o th e d i fii c u l ty of c ombi n i ng th e rep orts o f th e
v a ri o u s c omp a ni e s an d m aki n g a c om preh e n si v e statem e n t
yo u r di re ctors h a v e th o u g h t i t ad vi sabl e t o o m it th e u su al
fo rm o f a n n u al rep ort o f e a r n i n gs e xpe n se s et c a n d s ub
m i t i n pl ace t h e re of th e fo l l ow i n g statem e n t of th e p rop e rty
o f t h e c o n sol id ate d c o m pa n y it s liabil i ti e s
an d s itu ati o n as
o f J uly 1 1889 togeth e r wi th s u ch i n fo rm ati o n as m ay b e of
i n tere st to th e sto ckh ol de rs
,
,
,
.
,
,
,
,
,
.
$
,
.
,
,
,
,
.
,
.
,
.
,
,
,
,
.
,
,
,
,
.
5
( )
W
W
S ta tem en t
6
f
o
the
Di recto rs
Th e l i n e s o f rail w ay ow n e d
p any are as fo l l ow s
O
B e e Li n e
C olumb u s
Old Bee Line
Old
$
“
sy stem from Gal i o n to
'
,
d i a n a po l i s
O ld
B ee L in e
NED
,
$
“
d
sy stem fro m C l evela n d t o
,
“
an
$
In
system from D el aw are
to
,
n ci n n ati t o
C
F
o
u
r
system
from
i
g
L afaye tte
O l d B ig F o u r system from L aw ren ceb urg
J u n cti o n t o L aw re n c ebu rg
Old I
S t L system from In di a n ap o li s t o
T e rre H aute
Old
$
Bi
“
,
$
“
,
.
.
.
,
.
T otal m i leage
o
w n ed
under
SED
0
AND
LE A
OP
E RA T E D
.
T h e C in ci n n ati L afayette an d C hi cago
Rail
w ay fro m T e mpleto n In d to Kan kak ee
i n clu di n g righ t to u s e track s of t h e
L ak e E ri e an d
e ste rn R ailw ay b etw ee n
L afayette a n d T empl et o n op e rate d u n de r
l e ase th e l esse e to p ay O pe rating e xp e n se s
tax e s an d i n te re st T h e C C C
St L
Ry C o o wn s al l of t h e seco n d m o rtgage
b o n ds a n d a l l of th e sto ck e x cep ti ng
o ut of a n i s su e of
Th e re are
o utst a n di n g
first m o rtgage s eve n
p e r c e n t b o n d s u p o n wh i ch th e c ompa n y
h as to p ay i n tere st an d w hi ch
i n c l u ded
i n it s fi x ed ch a rge s
,
$
.
,
,
,
,
,
,
,
,
.
.
.
.
.
.
.
.
,
,
mi les
,
C kvelcm d , Obt ai n n a ti , C hi ca go
,
an
Lo u i s
d St
.
Ry C o
.
.
7
Th e F ai rl an d F ran kli n an d M arti n svi ll e Rai l
,
road from F ai rl an d In d to Marti n s vill e
In d O p e rated fo r th e st o ckh o l ders ; t h e
S t L Ry C O ow n s th e e n
C C C
ti re stock ; n o b o n ds
Th e Ve r n o n G re e n sb u rg a n d R n s h v i l l e R ai l
ro a d fro m N o rth Ve r n o n I n d t o Rush
op e rat e d f o r t h e sto ckh ol de rs ;
V i ll e In d
St L Ry C O ow n s th e e u
the C C C
ti re b o n ded i n d ebte d n e ss an d
per cen t
o f th e sto ck ;
t o ta l sto c k
Th e C ol umb u s Ho p e a n d G ree n sb u rg R ai l ro ad
fro m C olu mb u s I n d t o G re e n sbu rg In d
op erate d fo r t h e sto ckh ol d ers ; th e C C
St L R y C o o wn s t h e e n ti re b o n de d
C
i n debte dn ess a n d
p e r c e n t of t h e
sto ck ; tot a l sto ck
Th e C i n ci n n ati an d S ou the r n Oh i o R i v e r R a i l
way from L aw re n c eb u rg In d to A u ro ra
I n d op e r a ted for th e stockh o l ders ; th e C
C C
St L Ry C o o w n i n g th e e n ti re
c ap i tal stock ; n o b o n ds
Th e Harri s o n B ra n ch R R from Va l l ey
J u n cti o n
t o H arriso n
th e C C C
St L Ry C O o wn s th e e n ti re sto ck ;
n o b o n ds
Th e Ka n kake e a n d S e n e c a R R fro m Ka n
k a k e e I11 to S e n e c a
ow n e d j oi ntly
by thi s c omp any an d th e C hi c ago Ro ck
Isl an d an d P acifi c Ry C o e a c h c om p any
o w n i ng o n e h al f o f th e sto ck a n d b o n ds ;
th e C C C
St L Ry C o O p e rate s t h e
,
.
.
,
,
,
,
.
.
.
.
.
.
.
m i l es
.
,
,
.
,
.
,
,
.
.
,
.
.
.
.
.
,
.
.
,
.
,
.
.
.
,
,
.
mil e s
.
.
,
.
,
,
m iles
.
'
,
.
.
.
,
,
,
.
,
.
.
.
.
.
.
.
,
.
.
.
,
,
.
,
,
,
.
.
,
-
.
.
.
.
.
.
.
.
.
,
,
.
miles
.
.
.
.
m il e s
.
t otal b o n ds
T h e compa n y h as a co n tract w i th th e
C e n tral Rai lro ad
dre d y e ars by w h i ch
th ro u gh trai n s i n a n d o u t of C hi cago a n d
fu r n i sh i t termi n al s i n th at c it y re ce i v i n g
th e refo r a p e rce n t age of th e b u s i n e s s i n
p aym e nt
Th e C i n ci n n ati a n d Sp ri ngfiel d R ai lway fro m
Sp ri ngfiel d
t o C i n ci n n ati
l e ase d
for n i n e ty n i n e yea rs le s se e t o p ay operat
i ng e x p e n se s an d fi x e d ch arge s a n y su r
p l u s t o go to st o ckh olders Th e ro ad b e
t we e n Sp ri ngfiel d an d D ayto n i s op erate d
u n de r a le ase from th e Ci n ci n n ati S a n
d u sky an d C le v el an d Ry C o a di stan ce
of
m i l e s at a re nt al of 35 pe r ce nt o f
i ts gross e ar n i n gs Th e C C C
St L
Ry C o ow n s
of th e capit al st o ck
an d
o f t h e b o n ds of th e C i n ci n
n ati an d Sp ri ngfiel d Ry C o ; t otal b o n d e d
deb t
sto ck
Th e M t G i l ead Sh o rt L i n e from E di son
t o M t G il e ad O l e ase d for twen ty y ears
fro m A p ri l 15 1880 an d ren e w abl e at o p
ti o n of thi s c o mp an y fo r o ne t w o or thre e
l i ke term s n o t to e x cee d i n aggregate
n i n ety n i n e y e ars t h e ro ad bei ng op erate d
fo r th e ow n e rs u n de r l e a se th e l es s ee t o
p ay o n e th i rd of th e n e t e arn i n g s t o th e
tr u stee s of M t G i l ea d T ow n sh ip M o rro w
c o u n ty 0
,
,
,
,
,
,
,
-
,
,
.
,
.
.
,
,
.
.
.
.
.
.
.
.
.
.
,
,
.
,
.
,
,
.
miles
.
,
,
,
,
,
-
,
-
.
,
,
mi l e s
.
C levela n d , C i n c i n n a ti
C hi ca go
,
St
and
.
W
Lo u i s
Ry C o
.
T he D ayto n an d U n ion R ai l ro ad from D ayto n
t o U n i o n C ity I n d j oi n t o w n e rsh ip
w ith th e C i n c i n n ati H ami lt on a n d D ay
to n R ai lroad C omp any an d o th ers ; op e r
ate d i n dep e n de nt ly by th e D ayto n an d
U n i o n C omp a n y
Th e St L o ui s A lto n an d T e rre Hau te R R
from E ast St L o u i s t o T erre Hau te 189
mi le s a n d th e A l to n B r a n ch fro m
an n
t o A lto n Ill 4 m ile s ; l e ase d at a n an n u al
re ntal of
wi th a p rovi s i o n th at
w h e n th e gro ss e ar n i ngs e x c eed
p er an n um 20 per c e n t of su ch ex ce ss i s t o
b e p ai d as ad di ti o n a l re nt al
Th e C ai ro Vi n c e n n e s an d Chi cago R ail w ay
e xte n di ng from D an ville t o C ai ro
26 1
m il es w i th a b ran ch fro m St Fran ci sv il l e
t o Vi n ce n n es 9 mi l e s O p e rat e d u n de r a
temp orary arran gem en t by wh i ch thi s c om
p any p ays
a ye ar
It i s e x
c ted
e
th
at
th
i
s
co
n
tract
wil
l
be
m
ad
e
p
p e rp et u al if app ro ve d by th e sto ckh olde rs
at th e c omi ng a nn u al m e eti n g an d fi ve
m illi o n s of 4 p er ce n t b o n ds i ss u e d i n p ay
m e n t fo r th e ro ad an d ren ta l s of
a
ye ar as s um ed
,
.
,
,
.
,
.
.
.
mil e s
.
,
,
,
,
9
,
,
.
.
,
,
,
mil e s
.
,
,
.
,
,
,
$
.
,
,
,
mi le s
.
M aki ng a ltoge th e r 1422 mi l es o f m ai n t rack own e d o r
ope r ate d by th e c om p an y wi th 28 m il es o f do ubl e track o n
th e v ari o u s di vi si o n s a n d 4 12 m i le s o f si di n gs ; a to tal o f
186 2 m il e s of track ; t ogeth e r wi th 4 7 mi l es of D ayto n an d
U ni o n Railw ay p arti ally ow n e d an d op e rat e d i n h arm o ny
wi th thi s system an d 5 6 mil e s i nto Chi cago ov e r th e
,
,
,
,
.
10
S ta temen t
f
o
the
Di r ecto rs of
the
Illi n oi s Ce n tral o ve r wh i ch o u r c omp an y by c o nt ract c o n
t rol s th e m aki n g of rat e s a n d m an agem e nt of tra ffi c t o a n d
fro m i ts system
Al l of th e m ai n l i n e i s l ai d with ste el a n d w el l ball as ted
25 0 m il e s of si di n gs o n th e m ai n li n e are al s o lai d wi th
ste el Th e re are l eft i n th e b ra n ch es 118 mi l e s o f i ro n
Th e e qu ip m e n t of th e c on soli dat e d c o mp a n y o n t h e fi rst
o ffi
I u l y c o n si ste d o f 3 23 l o c om oti ve s 295 p asse n ge r cars an d
freigh t c ars
,
,
,
.
,
.
.
,
,
.
T h e gr o ss e arn in gs of th e en ti re system co n
s ol idat ed fo r th e yea r e nd i n g J u n e 3 0
1889 w ere
Th e op erati ng e x p e n se s w e re
74
N et
92
,
,
,
66
,
T h e fi x e d ch arge s o f th e n e w co mp a n y for
b o n d i n te re st re n tal s an d t ax e s ( th e l at
te r b ei ng e stim ate d ) w il l be
,
,
43
T h e c ap i tal sto c k o f th e n e w c o m pa n y c o n si sts o f
of p referre d s t o ck di vi de n ds o n whi c h are li m
$ 10
i t e d t o 5 p er ce n t a n d
of c omm on sto ck
A b al an c e sh ee t of th e company as of th e fi rst o f J u l y
i s a n n ex e d h eret o ; a l s o a m ap sh o w i n g th e rai l w ay of th e
c omp any a n d th e c o u n try th ro ugh wh i ch i t ex t e n ds
Th e c om p a ny h a s v e ry l arge term in al p rop erti e s i n th e
c i ti e s of C l ev el a n d
C o l umb u s Ci n c i n n ati In di a n ap ol is E a st
S t L o u i s an d th e i n te rm e di ate ci ti e s o n th e l i n e ; b u t ad di
t i o n a l tracks freigh t h ou ses an d sh op s are n e cess ary i n
orde r t o c o n s ol i date th es e termi n al s a n d w o rk th e l i n e as
e c on om i c al ly as i t sh o u l d b e Th e l a rge bu si n e ss of th e c om
p any furth e r m ake s i t n e ce ss ary th at addi ti o n al si de track s
sh o ul d b e p u t u p o n s om e p arts of th e l i n e an d th at at l east
25 m il e s of s ec o n d ( d o ubl e ) track sh o u l d al so b e b u ilt
B y th e p u rch as e of addi ti o n al c a r s a l arge savi ng i n e x
,
.
,
,
,
.
,
.
,
,
,
,
,
,
,
,
.
.
,
.
,
C lev ela n d
,
C i n ci n n a ti , C hi ca go
a n
d St
.
Lo u i s
Ry C o
.
11
.
pen ses c a n al so b e m ad e
th e c on s oli dated c om pa n i es p ai d
o r
o u t l ast yea r i n mi l eage t o fo reig n ro ads ab ou t
wh il e th e e xpe n d
t h e i n te re st at si x p e r c en t o n
i t u re o f p robably o n e a n d a h al f mi l l i o n s w o ul d c ar ry th e
bal a n c e to th e o th e r si de o f th e l edge r A ltoge th er fo r n ew
e qui pm e nt te rm i n al s si di n gs a n d d o ubl e tra c k i t w o u l d
se em ve ry desi rabl e th a t a fu n d of
sh o u l d be p r o
an d th i s sub$e c t sh a l l h a v e t h e c o n s i de rati on o f y o u r
v i d ed
Di re ctors at a n ear l y date
A ll of wh i c h i s re sp e c tfu lly s ubm i tted
,
,
,
,
,
.
.
,
.
,
,
,
,
,
.
.
$
.
VI
C
I N C I NNA TI
,
O n ro
Octo b er 10, 1889
.
.
E
.
S
I N$ A I L
.
P r es i d en t
.
S ta temen t
12
f
o
t he
Di recto rs of
W
The C level a n d C i n ci n n a ti C hi ca go
,
,
A L ANC E S
B
A
ETS
S S
and
.
.
.
.
.
.
.
o
.
.
.
.
.
n
0
‘
.
.
.
.
.
o
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
o
.
.
.
.
.
o
i
.
.
.
.
.
.
r
.
.
.
o
.
,
.
o
.
,
n
u
.
,
n
,
v
n
,
,
.
.
n
.
n
n
o
n
v
v
.
.
.
.
.
v
s
.
St
H EE T
Construction
B i g Four G rai E le ator
G eneral Supplie
C L C Ry First Mortgage B onds
C Ry Second M rtgage B onds
o L
G Ry First Mort g a g e B nds
o H
x a S Ry First Mortga g e B ond
R Ry First Mortg ag e B onds
< G
o a S Ry Second Mortga g e B onds
u a U R R I nco m e B o ds
C Ry P re f erred Stock
o L
ma son B ranc h R R Stock
M R R Stock
2 F
R R R Stock
< G
O H
G
O I St L
C Ry Stock
U a U R R Stock
I
Ry St ck
C C C
Central U D Ry C C inci nati P re f erred Stock
Ce ntral U D Ry C Cincin ati Co m m o Stock
U n on Depot C Colu m b s Stock
Ri er V ie w H otel Co Stock
G alion Stock Yards Co Stock
ICinci
dia apolis U nio Ry
nati C h a m b er f Co m m erce Certi fic tes
Ri er s ide Land
79
HG rarrison
A e ue La d
25
dy County La d
490 00
Real E state and o odla ds
28
P endleto
Sto e $ uarry
86
P lu m St Depot I m pro e m ent
93
Clark s H ill E le ator
02
Special B ond Rede m ptio E
Ad a ces to B ra c h Lines
Spring fi eld Ry
39
Ci
C L C R De b t Accou t
05
K S Ry Bo d
00
R Ry Co s truction Acc t
42
V G
C H G Ry Co struction Ace t
63
St Loui s E te sion
M t G ile d S h ort Li e
39
so
Less C redit B ala ce K S Ry
08
n
the$
n
n
n
u n
a
1
00
00
00
00
00
65
00
7 00 00
50
00
00
00
75
00
50
00
3 00 00
.
.
n
n
n
v
.
$
v
n
n
n
v
n
.
.
v
.
.
n
.
n
.
.
.
x
.
$
.
n
n
a
.
.
n
.
.
$
n
.
.
.
.
.
.
.
.
u
n
.
.
.
C s h i H and s f Tr e asur e r
B ills Recei b le
Statio Agent s B alances
A
t Rece i ab le B ala ces due f ro m R R Co s Tr
s
go s etc
U i ted States G o ern m e t
n
a
23
03
62
o
$
n
.
u n
s
v
n
,
$
.
.
,
$
,
.
n
.
n
v
.
Total
C
an
31
06
va
cc
13
72
.
85
42
20
46
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S ep tem b er 14 , 1889
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S ta tem en t
14
f
o
the
Di recto r s of
the
A G R E E M E N T O F C O N S OL ID A TIO N of th e C LEv
C OL UMB U S C I N C I NN A T I A N D IN DI ANA P OL IS RA I L AY
P A N Y th e
I N DI A NA P OLI S AN D S T Lo u I s { AI L AY
P AN Y a n d
th e C I N C I NN A TI I NDI ANAP OLI s S T Lo u I s
C H I C AG O RA IL A Y C O MP A N Y
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her ea s ,
the l i n e o f rai l ro ad of th e C le vel a n d C o l u m
b u s Ci n c i n n ati a n d I n di an ap oli s R ailw ay C omp a n y e x te n d s
fro m C le v el a n d i n th e St at e of Oh i o to I n di an ap o li s i n t h e
S tate of In dia n a th e s ai d c omp a n y bei n g a co n s ol i d ate d
comp any of t he States of Ohi o a n d I n di an a an d th e l i n e of
rai l ro ad o f th e I n dia n a p o l is an d S t L o u i s R ail w ay C o m
p an y e xte n ds from I n d i an ap ol i s t o T e rre H a u te i n th e S tat e
O f In di an a th e sai d c o m p an y be i n g a co rp o ratio n of t h e
State of I n di a n a a n d th e l i n e of r a i l road of th e C i n ci n n ati
I n di an ap o l i s S t L o ui s a n d C hi cago R ai lw ay C omp an y
t e n d s from C i n c i n n ati i n th e State o f O hi o t o L afay ette i n
th e S tate of In di an a t h e sai d compan y bei n g a co rp o rati o n
o f t h e State of In di a n a ; a n d
herea s th e l i n e of t h e l ast n am ed c omp any cro sses an d
i nte rs e cts the l i n es of th e fi rs t a n d s e c on d n am e d c omp an i e s
at In di an ap oli s formi ng w ith e ach o f th em an d formi n g
w ith each oth er co n ti n u o u s l i n e s o f rail ro a d ; an d th e s ai d
c omp an ie s are auth o ri z e d by th e l aw s of th e State s of O hi o
a n d I n di a n a t o con s o l i d ate t h ei r st o ck an d prop e rty a n d de
si re so to d o
T H E R E FO R E TH I S A GR E E MEN T
I T NE SS E TH $ Th at th e sai d
c ompan i e s acti ng h er ei n by th e auth o ri ty of r e s ol uti o n s o f
th e s ev e ral B o ards of Di re c t o r s th e re of a n d s ubj e ct to th e
rat i fi c ati o n of t h e sto ckh ol de rs th e re o f requ ir e d by l aw i n
of th e m u tu al agre e me n ts c ov e n an ts p ro
c o n si d e rati o n
v i si o n s an d gra n ts h erei n con tai n ed d o h e reby agre e to c on
s oli date th ei r ro ads p rop e rty ri gh ts a n d fran ch i se s s o as to
b e c ome o n e c orp o r a ti on a n d by th es e p re s e nt s d o m e rge an d
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C level a n d
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C i n ci n n a ti , C hi ca go
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Lo u i s
Ry C o
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15
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c o n soli date th ei r c api tal sto ck fra n chi se s a n d p rop erty i n to
Th e C le v el an d
o n e c ompa n y to b e k n o w n by th e n am e of
u po n
C i n c i n n a ti Ch i c ago a n d St L o u i s R a i l w a v C o m pa n y
t h e foll ow i n g t e r m s a n d c o n di tio n s t o wit
F I RS T A ll the rights fra n ch i ses p ri vi l eges p r o pe rty
app u rte n an c e s of eve ry des c ri p ti o n c h o se s i n acti o n d ebts
d u es a n d dem a n d s of e ach of th e se v e ra l c omp ani e s p a rti e s
h e reto sh al l ve st i n th e c on s ol i d at e d c o m pan y
S E C ON D — T he c o n sol i dated comp a n y sh all assu m e a n d be
bo und by a l l li ab i li ti e s a n d O bli gati o n s of e ach of th e se v eral
comp an i e s p arti e s h e reto
T H I R D— Th e c api tal sto ck O f th e c o n sol i date d c o m p a n y
sh al l am o u n t to thi rty m i lli o n fi v e h u n dre d th o u s a n d d ol l ars
divi de d i n to c om mo n a n d p refe rred sto ck as fo l lo w s $ Tw o
h u n dre d an d fi v e th o u sa n d sh ares of o n e h u n dred d oll ars
e ach am o u n ti n g to twe nty m i lli o n fi ve h u n d re d th ou sa n d
dol l ar s of comm o n stock an d o n e h u n d re d th o u s a n d sh are s
of o n e h u n dre d doll ars each a m o u n ti n g to t e n m i ll i on s o f d ol
l ars of p refe rre d sto c k Th e n e t ea rn i n gs of th e c on sol i date d
c omp an y i n e a c h an d e v e ry year sh a ll b e di v i de d a s fol low s $
fi rst n o t e x c ee di ng fi ve p er c e n t i n qu arte rl y i n stall me n t s to
th e h ol ders of t h e p refe rre d sto c k ; a n d t h e resi d u e as m ay
b e ordere d from ti m e t o t i me b v th e R o a d of D i rec to rs
s t o ck begi n n i ng w ith
a m o n g th e h ol de rs of th e c om m o n
th e fiscal ye ar ne x t afte r th e ratifi cati o n O f th i s agre em e n t
F O UR TII — Th e c o n s o l id ated c ompany sh al l n o t i ssu e a n y
e vi d e n c e s of fu n de d d ebt o r e x e c ute a n y l e ase o f r a i lw a y
p rope rty wh i ch m a y e n tai l i n c re ased fi x ed c h a rges ex cept
by th e c o n se n t O f a maj o ri ty i n i n te re st O f t h e h o lde rs o f
t h e sai d p refe rred stock to b e e x press e d i n w ri ting u n d e r
th ei r sig n at u res resp ec t i v e l y o r declare d at a m e eti n g o f
p refe rre d stockh ol d e rs t o be c all ed f o r th at p u r
s u ch
po se ; wi th th e e x c epti o n o f t h e fiv e m ill i o n fo u r pe r c e n t
o n e h u n d re d y e ar b o n ds o r oth e r e v i d e n c e of i n debte dn e ss
p ropose d to b e i ssu e d fo r th e p u r c h ase o r a c qu i rem e n t i n
l awfu l fo rm o f th e C ai ro Vi n ce n n es a n d C hi c ago Rail way
whi ch sai d ev i d en c e O f i n debte d n e ss i s h e reby auth o ri z ed
i f s ai d p u rchase o r ac qu i reme n t sh all hereafte r b e dete r
mined u pon
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W
Sta tem en t
16
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the
f
o
Di recto rs of
the
F I ETH —Th e
n u mb er o f di re ctors of th e
c om p an y sh al l b e fiftee n an d t h e o ffic e rs sh al l
de n t a V i c e Pre si d e nt a T re as u re r an d a S
Th e re s i de n ce of s ai d D i re ct o rs a n d o f fic e rs
fol l ow s $ s ev e n D i re cto rs i n th e Ci ty of N e w
S tate of N e w Yo rk ; e igh t Di r e cto rs i n th e S ta
i
n the ci ty o f
n ci n n ati
five
i
n
th
e
c
i
ty
of
C
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tw
o
(
an d o n e i n th e ci t y of C ol umbu s) Th e I r esi
s i de i n th e ci ty of C i n ci n n ati a n d S tate o f Oh
u r e r a n d th e S e c retary i n th e c ity of C i n e i n n a t
th e V i c e Pre si de n t i n th e C i ty of Ne w
o f Oh i o
St ate of N ew Yo rk
Th e n am e s a n d pl ac e s o f re si de n c e of th e first
D i re ct o rs o f th e c o n s ol i d ate d c omp a n y wh o sh all s e
s u ch u nt il th ei r s u cce sso rs sh al l h av e b e e n el e ct e d
fi e d ac c o rdi n g t o l aw sh al l b e a s follow s $
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14
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15
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C o rn e l i u s Va n de rbi lt N ew Yo rk
i lli am K V a n de rb il t
Ch au n c ey M D ep e w
J Pi e rp o n t M organ
G e orge B l i ss
H Me K T w ombl ey
J am es D L ayng
S J B ro ad w ell
Ci n ci n n ati Oh io
A l e x an der Mc Do n a l d
O rl an d Smi th
M ellv i ll e E I n gall s
W il li am I A n de rso n
A m os T ow n s e n d
Cl e vel an d Oh i o
T rum an P Han dy
B e nj ami n S B rown C ol u mb u s O h i o
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S I $ TH — Th e m an n e r of co n verti n g th e c api tal stoc k o f
e ach o f th e c o n stit u e n t comp a n i es p arti e s h e ret o i n to th e
c a p ital sto ck of th e c O ns o l i d a t e d c o mp a n y sh al l be as fol l ow s
F o r e ach sh ar e Of th e p re se n t cap ital s t o ek of th e C i n
I n di an ap o l i s St L o u i s , an d C hi c a go R ai lw ay C om
C i n n a ti
p an y s hal l b e i s su e d u p o n the s u rre n d er th e reof to th e c o n
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S ta tem en t
18
the
f
o
Di recto r s of
t he
abl e t o th e p aym e n t of d i v i de n ds up o n th e sai d p re f e rr ed
s to ck sh al l b e c omp ut ed as c ertai n ed an d de te rmi n ed fo r ea c h
th re e m o n th s e n di n g o n th e th i rti e th d a y of S eptembe r o n
th e th i rty fir s t day O f D ec emb e r o n th e thi rty fir s t day o f
M arch a n d o n th e th i rti eth day of J u n e resp ec ti vely i n each
an d e v e ry ye ar i n th e m a n n e r foll ow i ng i e
F ro m t h e e arn in gs d e rive d fro m th e op e rati o n s o f t h e
rail ro ads O f t h e c o n s ol i dated c ompa n y h e reby fo rm ed d u ri ng
s u ch th re e m o n th s sh al l be d ed u c te d all th e e xpe n se s of
re p ai rin g a n d re n ew i n g th e rai l
o p er ati n g an d m ai nt ain i ng
ro ads and e qu ip me n ts an d f o r c arryi n g o n th ei r b u si n e s s
i n cl udi n g am ou n ts d u e for re n t a l l ea s e of l a n d a n d oth e r
prop e rty d uri ng t h e p e ri o d c o ve re d by s u ch c ompu tati on
th e am o u n t of i n te re st o n any b o n ds a n d obligati o n s O f s u c h
rai l w ay c o mp an i es ac c ru e d d u ri n g th e pe ri od of s u ch c o m
p ut ati o n an d all ta x e s a n d ass ess m e n t s l e vi e d d uri ng t h e
sai d th re e m o n ths by l aw fu l a uth ori ty up o n th e rail way
co mp a n y or i ts p r o p e rty o r whi c h th e s ai d rai lw ay c o m
p an y i s o r m ay beco m e l i a bl e t o p ay
T h e n e t i n c om e w hi c h m ay a ri s e i n a n y o n e fi sc al y e ar
t o w i t fro m th e thi rti eth d a y of J u n e i n o n e ye ar t o th e
thi rti eth d ay o f J u n e i n t h e n ex t s u c c e edi ng y ear appl i cabl e
t o th e p aym e n t of di v i d e n d s u po n th e s ai d p refe rre d st o ck
sh al l o nly b e appl i e d t o t h e ex te n t o f fiv e p e r cen t for th e
s ai d fi scal ye ar b u t th e n et i n co m e i n a n y o n e qu arte r w h i ch
sh al l e x ce e d th e s um n e cess ary to p ro v i de a di v i de n d of o n e
a n d o n e qu a rt e r p e r c e n t f o r th a t qu arte r m ay be ap pl ie d to
th e p aym e n t of a ny d efi c i e n c y of th e n et i n c o m e o f a n y
oth er qu arte r of s ai d fi scal y e ar
E I GH TH — T h i s agre em e n t fo r co n s ol i d ati o n sh al l tak e
e ff e ct u p o n i ts bei ng adop te d by th e di re cto rs of th e co n
an d up o n r a tifi cati o n an d a dop ti o n by
s t i t u e n t c om p a n i es
t h e sto ckh ol d e rs of ea ch of th e c on sti tu e n t co m pa n i e s an d
up o n fili ng th e s am e i n t h e o f fic e of t h e S e cret ary of Stat e
of e ach o f t h e S tates o f O h i o a n d I n di an a a n d u p o n th e
d u e m ak i ng an d pe rfe c ti n g o f th e se arti cl e s of agreem e n t as
re qu i red by l aw
N I N TH —
T h e s e v e ral c on sti tu e n t c omp an i e s e ach f o r i t
self an d n o t fo r th e oth e r i n c on s i derati o n of th e prem i ses
c
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C level a n d
C i n ci n n a ti C hi ca go
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Lo u i s
Ry C 0
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19
.
d o th h ereby gran t c o n vey as sig n a n d s e t ove r a n d ve s t i n
th e sai d c o n sol id a ted com pa n y f o r th e p u rp os e o f s u c h
c on sol i dati o n a l l o f th e rail ro ads p r o p erty ri gh ts p ri v i
leges fran c h i s e s an d p owers n o w h el d by i t o r i n o r t o
wh i ch i t h as an y righ t titl e i n te re st o r cl aim e ith e r i n law
o r eq u ity
H E R E OF th e sai d Cl e velan d C ol umbu s Ci n
I N I T NE SS
In di an ap oli s R ailway C om pan y by i t s B oard o f
c i n n a ti a n d
Di re cto rs h as c au se d i ts co rp o rate s e al to b e h e reu n to a f fix e d
an d th e se p rese n ts to b e sig n e d by it s Presi de n t a n d Se cretary
an d a m a j o ri ty of i t s sai d board h a v e h ere u n to s et th e i r
h a n ds a n d seal s th e tw en ty se v en th d ay of March 1889 ;
S t L o u i s R ai l w a y C o m pan y
a n d t h e s ai d In di a n apol i s a n d
by i t s B oard o f D i re cto rs h as c au s e d its c o rpo rate se al to b e
h e re un to a ffi x ed an d t h es e p re se n t s t o b e sign e d by i ts
Pre si de n t an d S e cre tary an d a m aj o rity of i t s s ai d B o ard
h av e h e re u nt o s e t th ei r h a n d s an d seal s th e twe n ty se v e n t h
d ay of M arch 1889 ; an d th e sai d C i nci n n ati I n d i an ap oli s
St L o ui s an d C hi c ago Rai lway C om pan y by it s B o a rd o f
Di re ctors h as ca u se d i ts c o rp o rate s e a l t o b e h e re u n to a f fi x ed
an d the s e p rese nts t o b e sig n e d by i ts P resi de n t an d S ec re
tary an d a m aj o rity of i ts s a i d B oard h ave h e re u n to set th ei r
h an ds a n d seal s t h e n i n ete e n th d ay of M ar c h 1889
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