30

New York Central Railroad Third Equipment Trust of 1949

This trust was established by Agreement dated May 15, 1949, and there were issued
thereunder $10,725,000, par value, of 2^% Equipment Trust Certificates maturing in
annual installments of $715,000 each on May 15, in the years 1950 to 1964, inclusive, repre¬
senting approximately 80% of the cost of the equipment included in the trust, consisting
of 27 "A'' unit and 19 "B" unit 1500 H.P. Diesel-electric road freight locomotives, 10 1000
H.P. Diesel-electric switching locomotives and 900 70-ton high-side steel gondola cars.
These certificates are guaranteed as to payment of par value and dividends by endorsement
by the Company.
 

New York Central Railroad Fourth Equipment Trust of 1949

This trust was established by Agreement dated July 15, 1949, and there were issued
thereunder $11,400,000, par value, of 2^% Equipment Trust Certificates maturing in
annual installments of $760,000 each on July 15, in the years 1950 to 1964, inclusive, repre¬
senting approximately 80% of the cost of the equipment included in the trust, consisting
of 600 70-ton high-side steel gondola cars, 2000 55-ton self-clearing steel hopper cars, 12
1000 H.P. Diesel-electric switching locomotives and 6 2000 H.P. "A" unit Diesel-electric
road freight locomotives. These certificates are guaranteed as to payment of par value
and dividends by endorsement by the Company.
 

New York Central Railroad Fifth Equipment Trust of 1949

This trust was established by Agreement dated October 1, 1949, and there were issued
thereunder $9,120,000, par value, of 2^% Equipment Trust Certificates maturing in
annual installments of $608,000 each on October 1, in the years 1950 to 1964, inclusive,
representing approximately 80% of the cost of the equipment included in the trust, con¬
sisting of 12 1000 H.P. Diesel-electric switching locomotives, 14 **A" unit and 6 "B" unit
1500 H.P. Diesel-electric road freight locomotives, 2 2000 H.P. **A" Diesel-electric road
freight locomotives, 500 55-ton self-clearing steel hopper cars, 500 70-ton steel flat cars and
16 electric multiple-unit passenger coaches. These certificates are guaranteed as to pay¬
ment of par value and dividends by endorsement by the Company.
 

Guaranty of Indiana Harbor Belt Railroad Equipment Trust Certificates

During the year the Company joined with Indiana harbor belt railroad company
and the latter's other proprietor companies in endorsing upon the following issues of Indiana
HARBOR BELT RAILROAD equipment trust certificates, a guaranty whereby Indiana harbor
BELT RAILROAD COMPANY to the cxtcut of 100% thereof, this Company and the Michigan
CENTRAL railroad COMPANY each to the extent of 30% thereof, and the Chicago and

NORTH western RAILWAY COMPANY and the CHICAGO, MILWAUKEE, ST.  PAUL AND PACIFIC

RAILROAD COMPANY cach to the cxtcnt of 20% thereof, severally unconditionally guaranteed
the due and punctual payment of the par value of the certificates and of the dividends
thereon, viz.:

$2,050,000, par value, of 2^% certificates due May 1,1950-1959, issued and guaranteed
pursuant to agreements dated May 1, 1949; and

$2,970,000, par value, of 2ys% certificates due September 15, 1950-1964, issued and
guaranteed pursuant to agreements dated September 15, 1949.