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THIRTY YEAR DEBENTURE BONDS,
Maturing* April A. D. 1921.
UNION TRUST COMPANY OF NEW-YORK, Trustee.
FEBRUARY 28tl-i, 18Q1.
made this twenty-eighth day of February, A. D. 1891, by and between
the Chicago and ISíorth Western Railway Company, a corporation of the States of Illinois, Wisconsin
and Alichigan, party of the first part, and the Union Trust Company of New-York, a corporation of the
State of New-York, party of the second part, "SMxttXCSSJC^tlX :
Whereas, the said party of the first part is about to issue its obligations, to be known as the Chicago
and North Western Railway Company Thirty Year Debenture Bonds^ to an aggregate amount not exceeding
Ten Millions of Dollars^ dated February 28th, K. D. 1891, and payable April 15th, 1921, with interest at a
rate not exceeding Five per cent, per annum, payable semi-annually, on the fifteenth day of April and of
October in each year, at the office or agency of the said Railway Company in the City of New-York ;
And Whereas, the said debenture bonds are issued in denominations of One Thousand Dollars, with
interest coupons attached, and are numbered consecutively from one, upwards, and are substantially in the
following form, (with the rate of interest designated in the Bond) :
UNITED STATES OF AMERICA.
STATES OF ILLINOIS, WISCONSIN AND MICHIGAN.
CHICAGO AND NORTH WESTERN RAILWAY COMPANY
THIRTY YEAR DEBENTURE BOND,
BEARING FIVE PER CENT. INTEREST.
all tlxßse That the Chicago and Noeth Wbsteen Railway
Company is indebted to the Union Trust Company op New-York, or bearer, in the sum of One Thousand
Dollars, which the said Railway Company, for value received, hereby promises to pay to said Union Trust
Company of New-York, or to the bearer hereof, on the fifteenth day of April, A. D, 1921, at the office or
agency of said Railway Company in the City of New-York, with interest thereon from the fifteenth day of
April, A. D. 1891, at the rate of five per cent, per annum, payable at the said office or agency, on the
fifteenth day of April and of October in each year, on the presentation for payment, and surrender of the
annexed coupons as they severally become due ; and in case of the non-payment of any semi-annual instal¬
ment of interest which shall have become payable, and the payment of which shall have been demanded, if
such default shall continue for six months after the maturity of such instalment, the said Union Trust Company
shall have the right to declare the principal of this bond to be due, upon the terms and in the manner pro¬
vided in the Indenture of Agreement between said Railway Company and the said Union Trust Company,
Trustee, relating to the issue of this bond, of even date herewith.
This bond is one of a series of Coupon and Registered bonds, to be known as the Chicago and North
Western Railway Company Thirty Year Debenture Bojids,"''' referred to in said Indenture of Agreement,
issued and to be issued to an aggregate amount not exceeding Ten Alillions of Dollars ; the Coupon bonds
shall be of the denomination of One Thousand Dollars; the Registered bonds shall be without coupons,
and in denominations of One Thousand, Five Thousand and Ten Thousand dollars ; each denomination to
be numbered consecutively from one, upwards ; the Coupon bonds may, on surrender, be converted into or
exchanged for Registered bonds bearing a like rate of interest from the fifteenth day of April or October in
any year, and the holders of Registered bonds may, from time to time, transfer the same according to the
rules of said Railway Company, and other Registered bonds of this series, bearing a like rate of interest,
may be issued therefor.
And the said Railway Company agrees with whomsoever may be the owner and bolder of this and all
other bonds of this series, that no increased mortgage debt, excepting for the enlargement, improvement or
extension of the Company's property, shall be created or issued, without making provision to give to the
owner and holder of this bond equal security with such additional bonds secured on the same property.
This bond may be registered, as to the principal thereof, upon the books of said Railway Company,
kept for that purpose at its office or agency in the City of New-York, after which registration the same shall
be transferable only upon said books in accordance with the transfer regulations of said Company, unless the
last transfer be to bearer, in which case it shall pass by delivery. This bond shall continue subject to succes¬
sive registrations and transfers as aforesaid at the option of the holder.
This bond shall not become obligatory until it shall have been authenticated by a certificate endorsed
hereon, and duly signed by the said Union Trust Company of New-York, as Trustee, or its successor.
%1X the said Chicago and North Western Railway Company has caused its corporate
seal to be hereto affixed, and the same to be attested by the signatures of its President or Vice-President, and
its Secretary or Assistant Secretary, and has also caused the coupons hereto annexed to be signed by its
Secretary or Assistant Secretary, on the twenty-eighth day of February, A. D. 1891.
Chicago and Noeth Westeen Railway Company,
By
Attest : President.
A Secretary.
TRUSTEE'S GEBTIFIGATE,
This is to certify, that this bond is one of the Thirty Year Debenture Bonds described in an Indenture
of Agreement between the Chicago and North Western Railway Company and the Union Trust Company
of New-York, Trustee, dated February 28th, 1891, the aggregate issue of which is not to exceed Ten
Millions of Dollars, at par, of said debenture bonds.
Union Teust Company op New-Yoek, Trustee^
By
- President.
And Wheeeas, the said debenture bonds are also issued in denominations of One Thousand, Five
Thousand and Ten Thousand Dollars, in form of Registered bonds, without coupons, eacli denomination
numbered consecutively from one, upwards, and are substantially in the following form, (with the rate of
interest designated in the bond) :
UNITED STATES OF AMERICA.
STATES OF ILLINOIS, WISCONSIN AND MICHIGAN.
CHICAGO AND NORTH WESTERN RAILWAY COMPANY
THIRTY YEAR DEBENTURE BOND, •
BEARING FIVE PER CENT. INTEREST.
^ÍÍDÍllí alt tig tiXZäZ '^XZStntSf That the Chicago and North Western Railway
Company is indebted to
in the sum of Thousand Dollars, which-said Railway Company, for
value received, promises to pay, on the fífteenth day of April, A. D. 1921, at its office or agency in the City of
New-York, with interest thereon, from the fifteenth day of, A. D.
at the rate of five pee cent, per annum, payable at said office or agency in said City of New-York, on the
fifteenth day of April and Oetoher in each year.
This bond is one of a series of Coupon and Registered bonds, issued and to be issued to an aggregate
amount not exceeding 7^en Millions of Dollars, referred to in an Indenture of Agreement between said Railway
Company and tbe Union Teust Company op New-Yoek, Teubtee, dated February 28th, 1891 ; the Coupon
bonds to be of the denomination of One Ihousand dollars ; the Registered bonds to be in denominations of
One Thousand., Five Thousand and Ten Thousand dollars ; each denomination to be numbered consecu¬
tively from one, upwards ; the Coupon bonds may, on surrender, be converted into or exchanged for
Registered bonds, bearing a like rate of inter e&t from the fifteenth day of April or October in any year, and
tbe holders'of Registered bonds may, from time to time, transfer the same according to the rules of said
Railway Company, and other Registered bonds of this series, bearing a like rate of interest, may be issued
therefor.
And the said Railway Company agrees with whomsoever may be tbe owner and holder of this and al^
other bonds of this series, that no increased mortgage debt, excepting for tbe enlargement, improvement or
extension of tbe Company's property, sball be created or issued, without making provision to give to tbe
owner and bolder of this bond equal security with such additional bonds secured on the same property.
This bond sball not become obligatory until it shall have been authenticated by a certificate endorsed
hereon, and duly signed by the said Union Trust Company of New-York, as Trustee, or its successor.
^ the said Chicago and North Western Railway Company has caused its corporate
seal to be hereto affixed, and the same to be attested by the signatures of its President or Vice-President, and
its Secretary or Assistant Secretary, on the twenty-eighth day of February, A. D. 1891.
Issued A. D. 18
Chicago and North Western Railway Company,
By
Attest: ... President.
...Secretary.
TU tJSTEE'S GER TIFICA TÉ.
This is to certify, that this bond is one of the Thirty Year Debenture Bonds described in an Indenture
of Agreement between the Chicago and Yortli Western Railway Company and the Union Trust Company
of New York, Trustee, dated February 28th, 1891, the aggregate issue of wliicli is not to exceed Ten
Millions of Dollars, at par, of said debenture bonds.
Union Trust Company of New-York, Trustee^
By
President,
And Whereas, all of said debenture bonds are issued with full powers of transfer, surrender and
re-issue of registered bonds, in manner and form as hereinafter provided ;
Therefore, it is hereby covenanted and agreed, by and between the said parties, as follows :
Article L—In case default shall be made in the payment of any interest on any of the aforesaid deben¬
ture bonds, at the time and in the manner in the coupon issued therewith provided, the said coupon having been
presented and the payment thereof demanded, or in payment of the semi-annual interest as provided in said
registered bonds, on demand therefor, arid such default shall continue for the period of six months, then it
is expressly agreed that the said party of the second part, upon receiving a request therefor in writing, signed
by the owners and holders of a majority in amount of said debenture bonds, shall declare, by an instrument
in writing, duly executed and delivered to said party of the first part, the principal of all such debenture bonds
upon which default has been made as aforesaid, immediately due and payable, and the same shall thereupon
become due and payable, anything therein contained to the contrary notwithstanding ; and said party of the
second part may, in its discretion, take such proceedings in law or equity as it may be advised, to collect the
principal and interest due upon said debenture bonds, for the benefit of the owners and holders thereof.
Article II.—It is mutually covenanted and agreed, by and between the parties hereto, that any coupon
bonds may be surrendered to said party of the first part, by any holder and owner thereof, to be cancelled,
and registered bonds without coupons, bearing a like rate of interest, from the fifteenth day of April or
October, in each year, may be issued therefor ; and holders of registered bonds may transfer and surrender
the same, from time to time, in accordance with the rules of said party of the first part, and upon the cancel¬
lation of said bonds, a like amount of registered bonds of this issue, bearing a like rate of interest, may be
issued and delivered therefor.
And it is further agreed, that all of said debenture bonds, now issued or which shall hereafter be issued,
in exchange for coupon or registered bonds, surrendered and cancelled, shall be certified to by said party of
the second part, as one of this series of debenture bonds, provided, however, that no more than ten millions,
at par, of such debenture bonds shall be at any one time outstanding.
Article III.—And the said Railway Company further agrees with the said Trustee, for the benefit of
whomsoever may be the owners and holders of any of said series of bonds, that no increased mortgage debt,
excepting for the enlargement, improvement or extension of the Company's property, shall be created or
issued without making provision to give to the owner and holder of this bond equal security with such ad¬
ditional bonds secured upon the same property.
Article IV.—It is further agreed, by and between the parties hereto, that the said party of the second
part, or any successor thereof, may resign and discharge itself of the duties and obligations assumed in and
by this agreement, by notice in writing to the party of the first part three months before such resignation
shall take effect ; and in case said second party shall resign, or shall from any cause become incapable of dis¬
charging the duties and obligations assumed hereby, or should cease to exist as a corporation, a successor to
such second party shall be appointed by the party of the first part, by an instrument in writing, to be signed
by its President, and attested by its Secretary, under its corporate seal ; and thereupon such successor, upon
signing this agreement, shall have all the rights, and shall assume and discharge all the obligations and duties
hereby imposed upon or assumed by said party of the second part ; and like proceedings with like effect
shall be had as often as any successor of such second party shall resign or become incapable of discharging
such duties and obligations.
Article V.—It is further covenanted and agreed, by and between the parties hereto, that said party
of the second part expressly assumes the several trusts, duties and obligations imposed by the terms and
conditions hereof, as herein set forth, and will discharge the same, and shall receive just compensation for all
services it may hereafter render in pursuance of this agreement, to be paid by said party of the first part.
JtX ®ttttXJ^SS the said parties have caused their respective corporate seals to be affixed to
these presents, and the same to be attested by the signatures of their respective Presidents and Secretaries,
the day and year first above written.
Chicago and hforth Western Railway Company,
.... President,
Attest :
..Secretary,
Union Trust Company of New-York,
By
..President,
Attest :
Secretary,
3 5556 042 154450
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