Evening Republican, Volume 20, Number 120, Rensselaer, Jasper County, 19 May 1916 — MONON EXECUTES LARGE MORTGAGE [ARTICLE]

MONON EXECUTES LARGE MORTGAGE

Issue of $40,000,000 Par Value Ronds Seoured —Mortgage Covers All of Company’s Property. A mortgage executed by the Chicago, Indianapolis and Louisville Railway company, in favor of the Guaranty Trust company, New York, and William L. Taylor, Indianapolis, trustees, securing an issue of $40,000,000 par value bonds, was recorded Thursday at Indianapolis.

The mortgage covers all the property of the company, including all rights in the Chicago and Western Indiana Railway company, other Chicago terminals, and the interest of the Monon company in the bridge and terminals at Louisville, also the Indianapolis and Louisville Railway company and the Chicago and WaWabash Valley railway in 1914, all ly acquired by the Monon. As much of the proceeds of the bonds as are needed will be used to take up the outstanding .five-year bonds executed by the Chicago and bash Valley rai'way company, recentoutstanding five-year general mortgage bonds executed by the * Monon company in 1914, outstanding notes 1 aggregating about $4,000,000 and ! bonds secured by the first refunding 1 mortgage of $15,000,000. All other bonds are to remain in the treasury of the company, to be brought out as needed to make permanent improvements, betterments or extensions, according to a statement made by Taylor.