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Les diagrammes suivants illustrent la mithode. t 2 3 1 • 2 3 4 8 6 "liw • -•^^*^*M«»**s^^ . .*»«.fl ~?»?'--V^C.V'^ - V^*ft> THE GKANI) TRUNK RAILWAY COMPANY OF CANADA. -Ml" - "1"-' < ' /i .»).- li:i-:a-it iir --:i7ii!-: ') -i-M» T '>.!r The Directors of the Grand Trunk Railway Compiiny of Canada, in submitting the fol- lowing statement to the Sliareholders, will not disguise their disappointment at the falling off of the Traffic during the last few months, and they have taken great pains to ascertain the reasons of it. Their information leads them to think that it may be traced to two causes : the one, they trust, only temporary in its operation and effects, namely, the imparallelled stagnation of trade all over the American-Continent, diminishing the traffic of many railways fully 50 per cent. The other cause, they cannot hope to see entirely removed until the completion of the Victoria Bridge, and the carryuig out of the grand scheme of a continuous line of Railway, available at all seasons of the j-ear, for above 1,000 miles. To secure this important object at the earliest possible period, the Directors have entered into an arrangement with IMessrs. Peto, Brassey & Betts, under which the works on the Ikidge will be so accelerated as to give every hope of its being opened for Traffic in December, 1S59, being IS months earlier than tlie period named in the original contract. The extension from St. Mary's to London will be finished this Autumn, and the Con- tractors are proceeding with energy in the construction of the line between Stratford and Sarnia, so Lhat it may be open for traffic in September of next year. The Directors have been strongly impressed with the great importance of advancing the Terminus to Detroit, a distance of about fifty-five miles from Port Huron, by which the Urand Trunk Railway will be placed in direct and close connection with the Michigan Central, the Michigan Southern, the Detroit and ^lilwaukee, and the other important Railways, which convey the immense traftie of the AVestern regions between Chicago and the Atlantic Sea Board. The promise of local trafiic on this short extension is however so great, and the singu- lar advantages of its position so manifest, as to insure its adoption at an early period on its own merits and as a separate undertaking. It will not therefore be included in the present financial arrangement. .,. , , , , ' To efiect the objects on which the final success of this great enterprise depends, and to secure tin' prosecution of the works M'ith the necessary vigour, the Directors have prepared the annexed plan which they trust will meet with the support of the Shareholders. It is proposed that the option shall be given to each Shareholder to cancel one-fifth of his Consolidated Stock, and to receive for such cancelled Stock a like amount of 7 per Cent. Debentures, redeemable at par on the 1st of October, 1SG7, upon condition of his subscribing for an equal amount of 7 per Cent. Dcbentiu'cs, redeemable at par on the 1st of October, 18(32. These latter to be paid for, in money, at the rate of £80 Sterling for each Debenture of .€100 Sterling, by instalments as hereafter specified. r I:i ii I i / i^ til / r 1 11 \t The operation is illustrated as follows : — A Holder say of 100 shares, or £2,500 of Consolidated Stock, will be entitled to have one-fifth — that is 20 shares or ,£-500 Stock — cancelled, and to receive in lieu thereof Five hun- dred pounds in 7 per Cent. Debenture Capital at par, provided he subscribe for .£500 more of the 7 per Cent. Debentures payable, in money, at the price of 4:80 for each £:100, payable by four instalments, Tha same '^-roportions to be in all cases observed. Thus, a Holder of o shares, or .£125 of Consolidated Stock, will have one share or £25 of Consolidated Stock cancelled, and will receive a 7 per Cent. Debenture certificate for .£25, upon his subscribing for .£25 of Debenture Capital in addition, which will be issued to him when he shall have paid .£20 in four equal instalments. This 7 per cent. DelxMiture Certificate for £25, will be redeemable at par on the 1st of October, 1SG2. The 7 per cent. Debenture Capital of the Company ranks immediately after the Com- pany's Debentures. The Debentures have Interest Coupons attached to them, payable on the 1st of April and the 1st of October of each year. The interest on the Debenture Capital now to be issued will accrue from the 1st of October,. 1S5S. Applications on the accompanying Form, for the proportion to which each Shareholder registered this day in the Company's books i.s entitled, to be addressed to the Secretary not later than Saturday, the ISth inst. The Letters of Allotment will be issued on Saturday, the 25th of September, 1S58. The sum of £80 for each .£100 of the Debenture Capital subscribed for will be payable at Messrs. Giyn, Mills & Co., 07 Lombard Street, London, E.C., England, as follows, viz :— ,, ;,,,„) £20 Sterling on Wednesday, the 20th of October, 1858, ;,,;,.,! ' '-0 '' on Saturday, the 20th of November, 1858, , 20 " on Thursday, the 20th of Januaiy, 1850, • 20 " on Thursday, the JMst of March, 1850, and so in like propoiiion for the Debenture Certificates. Upon the IJanker's Receipt for the first instalment being sent to the London Ollice of the Grand Trunk Company, together with the Certificates for amount of Consolidated Stock to be cancelled, the proportion of 7 per Cent. Debenture Capital to which the Shareholder is entitled will be remitted to him, together with a Certificate, upon which the further instalments are to be paid. A rebate of 5 per Cent, will be made upon all instalments paid in advance. .; 5 By Older of the Directors, .rOlIX .M. ORANT, A-sslsniNf-SurcKiri/. Offices (>/ the (fnind Trxiik Ruiluuiy Comjminj nf Caivido. T GRAND TRUNK RAILWAY COMPANY'S OFFICE, MoNTUEAL, (jth September t 1S58. No. SlK, The proportion of Sevftu j^er Cent. Debenture CiipituI to which you are entitled to subscribe on the £ Sterling, Stock standing in your name in the Company's books, this day, is .£ Sterling. If you elect to take the same, "you will please to sign the subjoined form. I am, Sir, Your very obedient Servant, JOHN M. GRANT, Assistant Secretary, September, 1S5S. I agree to subscribe for the amount of 7 per Cent. Debenture Capital stated above, and to pay the deposit and instalments thereon, at the dates named in tlie accompanying Circular. Name Address Note.— This Half-Sheet must be returned entire to this Office not later than Saturday, the 18th of September, 1858.