The Sun.
London, England, 1870-05-28 00:00:00

SYNOPSIS OF ARRANGEMENT,

1. Under the proposed arrangement the holders of the various
First Divisional Bonds will receive in exchange, therefore, First
Mortgage Bonds of the new Company, secured on the whole line
franchises, and property of the Company, for the amount of
principal and interest due to them.
2. The Second Divisional Bondholders will receive in like
manner Second Mortgage Bonds, secured on the whole line, fran-

chiles, and property of the Company, for the amount of prin-
cipal and interest due to them.
3. The holders of Certificates of Debenture of 1864 will receive
in exchange, therefore-
1.
Twenty-five per cent. on the nominal amount of the
ne De-
bentures in the First Mortgage Bonds of the w
Company.
2. Twenty-five per cent. in the Second Mortgage Bonds of the
new Company.
These two amounts being the amount of Divisional
Bonds and overdue Coupons now held in the Deben-
ture Trust as collateral security.
3. Twenty-five per cent. in the Third Mortgage Bonds of
the new Company.
tTwenty-five per cent. in the Ordinary Shares of the New
Company.
i- 100
They will also be entitled to receive a further payment, in
cash in the course of cent current year, of about 3i per cent.,
in addition to 11 per . already paid on account of other
securities deposited in trust for them.
4. The Consolidated Bondholders will receive :-
1. Third Mortgage Bonds of the New Company for the
amount of principal.
2. Five per Cent. Preference Shares for the over-due
Coupons.
5. The holders of Certificates of Debenture of 1868 will
receive-
1. Twenty-five per cent. in Third Mortgage Bonds of the new
Company.
2. Twenty-five per cent. in Five per Cent. Preference Shares
of the new Company.
3. Fifty per cent. in ordinary Shares.
Note.—All Coupons from 17th January, 1867, to Ist July, 1870,
tckbe- capitalised, and the interest accruing between the latter
date and the issue of the new securities to be paid in cash out of
the earnings after the reorganisatisn of the Line, according to the
provisions contained in this scheme.
FUTURE MANAGEMENT OF THE COMPANY.
The future management of the Comeany in the United States
to be vested in not more than Nine Directors, of whom General
George B. M'Clellan is to be President, and to retain office for
three years certain.
One-third of the Board to retire annually, but to be eligible
for re-election.
Three Trustees, with proper remuneration, to be appointed by
the Shareholders, who shall exercise the voting power in respect
of the Shares, under the instruction of the Third Mortgage
Bondholders given personally, or by proxy, at a public meeting,
to be convened annually in November, until a dividend of not
less than 5 per cent. has been paid on the Shares for two years
in succession, when the trust will be dissolved, and the voting
power revert unconditionally to the Shareholders.
These Trustees are also to form a Committee to aid in and
supervise the proposed conversion of securities, and to give
general protection to the interests of all classes of Creditors.

PRESENT INDEBTEDNESS.
First Divisional Bonds ...... $5,700,500
Overdue Coupons, say .... 1,197,105 $6,897,605
Second Divisional Bonds .... 1,469,300
Overdue Coupons, say .... 308,553 1,777,853
Consolidated Mortgage Bonds 17,593,600*
Overdue Coupons, say .... 3,694,656 21,288,256
Coupons due prior to January
17, 1867 1,409,196

Total Bonds and Overdue C0up0n5............ $31,372,910
Certificates of Debenture of 1864 .................. 14,000,000
Certificates of. Debenture of 1868, say ..

Total Indebtedness

$58,372,910

• This amount may be increased by 878,400 dollars, in which
case it is believed the Divisional Bonds will be decreased by the
same amount.
PROPOSED CAPITAL OF NEW COMPANY.
BONDS.

First General Mortgage Bonds
Second ~
PP Bonds ....

...... $10,500,000
. .. 7,000,000

Total of First and Second General Mortgage 17,500,000
Bonds, with Coupons for 7 per cent. interest
per annum. Requiring a nett revenue of
$1,225,000.
Third General Mortgage Bonds ..............
With interest! at 7 per cent. in gold, payable if
earned within Ithe year, or as much as may be
earned within the year.
SHARES.
Five per Cent. Preference Shares
With Interest at 5 per cent. if earned within
the year ; but should a fourth Mortgage be
hereafter created, the Preference Shares are
to be included therein.
Ordinary Shares .................................. 16,211,744

Total proposed Capital .. .

Office of the London Agency,
5, Westminster Chambers, Victoria-street,
London, S.W., May 27, 1870.

$65,000,000

TELEGRAPHIC NEWS.—The Proprietor of the
CENTRAL PRESS furnishes Telegraphic News to Newspaper
Propriei ors, to the Mani. gers of Lluba, Exchanges, News Rooms,
Reading Rooms, and Hotels.
GENE NA L NEWS.—Four services are supplied daily. The
first service will elve all the news becoming known between 2 a.m.
and 8 a.m., including extracts from the London M. rning Journals.
Tne second service will include all news from 8 a.m. to 2 p.m.
The third service all news from 2 p.m. to 8 p,m. The fourth all
ws from $ p.m. to 2 a .n. This last message is intended for
districtswht re a Morning Paper is not obtainable, and it will be
despatched at 6 a.m. One Telegram will always be forwarded
during each service, and additional Telegrams whenever impor-
tant news becomes known.
COMMERCIAL NEWS.—At 7 a.m. a telegram will be for-
warded, giving all the Commercial News which appears in the
London Morning Papers. At 11.30 the opening prices of the Stock
Exchange. At 2.30, the London Corn, Cattle, and Produce
Markets. At 3.30 closing prices of the Stock Exchange and
report.
PARLIAMENTARY NEWS at 6 p.m.
COST.—For each daily service, or for each daily Telegram, the
charge will be 2s. per week; or for each service or Telegram once
a week, ls., including the cost of transmission.
TO PRIVATE P e.R-ONS, MERCHANTS, OR BANKERS.—
Telegrams regularly forwarded for a charge of 2s each, in-
cluding the cost of transmission. By using a carefully-
prepared Share List and Code, the quotations of 20 shares or
stocks, and the tone of the market respecting each, can be for-
warded words. Secial Telegrams to non-subsceibers, 3s.
each. Prepayment essential. In no can a snbseription for
less than a month be received.
Proprietors of Hotels on
Exchanges, i.e., 3s. per week for
th°ll34re andNa RN,,tL,we
Telegraph
I Ease sg, 3rs,ba
etpi
BrltSwur tbearesar
tons,
forwarded
d.
theWat.o.C. ,
o
each daily service.

PARTRIDGE AND COOPER,
MANUFACTURING STATIONERS,
192, FLEET-STREET (CORNER OF CHANCERY-LANE), LONDON (8.C.)
THE PUBLIC SUPPLIED AT WHOLESALE PRICES.
CARRIAGE PAID to the COUNTRY ON ORDERS OVBR 280 e.
Fine Per ream. d.
Fine Cream Laid Note ; a cheap paper .... 3 0
Superfine Cream Laid Note; much approved
Superfine Thick Cream Laid Note ; especially recommended 5
6
Extra Superfine Double Thick Cream Laid Note 7 0
Straw Paper, " Patent:" adapted for rapid writing .2 6
Large Commercial Note Papers.... 35., 45.55., and 6 0
Foolscap Papers, blue or cream.......... 105. 61, 12s. 61, and 14 6
Outsides Foolscap ............ ................................... . ......... 6 6
Letter Paper for scribbling plain, 45.; ruled ditto, 4 6
Tinted Lined Note five quires for 15. 61, or 5 6
The N'ew Vellum Wove " Club House" Note, five quires for
2s. 6d.
Superfine Cream or Blue Envelopes, 4s6d, 5s 6d, & 60 6d
Large Blue Wove Commercial Envelopes, 4s 6d! per 1,000
Cheap Buff Colour, for circulars, &c., 38.
COLOUR STAMPING (Relief) reduced to Is. per 100. Polished
steel dies sunk by the best artists in the trade at about half tha
prices charged by the retail homes.
An ILLUSTRATED CATALOGUE, containing full descrip-
tion, with prices of Account Books, Copying Presses, Inkstands,
Stationery, Cabinets, Postage scales, Despatch Boxes, Travelling
Writing Oases. Desks. post free. Established 1841

HOSPITAL forGolde DISEn-squASESW. of the THROAT,
are,
President—the Right Hon. the Earl of STRAFFORD, F.R.S.
This Hosital has relieved upwards of 24,000 patients since its
foundation,'p and is in great NEED of FUNDS to meet the heavy
current expenses. EDMUND WYLD, Secretary.

Q EAMEN'S HOSPITAL (late Dreadnought).—
1.3 Notice is hereby given, that this HOSPITAL is now RE-
MOVED to the late Infirmary of the Royal Hospital, Green-
wich, where any seaman, needing medical or surgical care, will
be admitted on personal application, as heretofore, without in-
trgduction or recommendation. The Society's offices are re•
moved from the City to the same building.
KEMBALL COOK, House-Governor and Secretary.

NATIONAL INSTITUTION for DISEASES
of the SKIN, Gray's-inn-road and Mitre-street. Physi-
cian, Dr. BARR MEADOWS, 49, Dover-street, Piccadilly. Ave-
rage number of Patients under treatment, 1,000 weekly. Free
letters are available for necessitous applicants.
THOMAS ROBINSON, Hon. Sec.

ri RE AT NORTHERN HOSPITAL, Caledonian-
`l road, N.—FUNDS urgently NEEDED. Accidents often
refused for want of beds. F. SMITH, Esq., Hon. Secretary.
GEORGE REID, Secretary.

SAVIOUR'S HOSPITAD and REFUGE,
kj. Alfred-terrace, Upper Holloway, N.—This Institution
affords a Refuge for Women seeking to abandon a life of sin,
especially those about to become mothers, and provides a Home
for the Children of such. FUNDS are very urgently NEEDED.
Bankers, ndon and South Western (Holloway Branch). '
HUGH R. GOUGH, Hon. Sec.

WEST LONDON HOSPITAL, Hammersmith,
W.—FUNDS are urgently needed, and the Committee
earnestly appeal to the benevolent to assist them in carrying on
their useful work. T. ALEXANDER, Sec. and Sup.

IITY of LONDON HOSPITAL for DISEASES
V.) of tht CHEST, Victoria Park.
Special APPEAL for the NEW WING.
Amount still required, £4,000.
Number of beds now occupied, 120.
Number of beds available with proposed addition, 164.
The Hospital is entirely dependent on voluntary support.
Bankers, Messrs. Barclay, Bevan HENRYo., SEW
Lombard-street.
SEWELL, Hon. Scc.
Offices, 24, Finsbury-circus. RICHARD P. SLATER, Sec.

THE SUN" forwarded by Morning and Evening
Mail with undeviating regularity, and nelivered in Town as
soon as Published. Advertisements inserted. Apply to W.
ALEXANDER., 24, Old Cavendish-street, W. Established 1760.

THE LATEST EDITIO.N of " THE SUN "
L supplied as soon as published, every Evening, by S.
WiLsorr, newsagent, and Special agent for the North-western
District, 24, Delancey-street, Camden town, N W

MAY 28, 1870.

MISCELLANEOUS TOPICS.

Trinity College, Dublin.

Dr. Ball, and the Hon. David Plunket, the mem-
bers for Dublin University, will, it is thought pro-
bable, move for the extension of the University
Teats Bill to Ireland. Some confirmation of the
supposition appears to exist in the fact that
Dr. Ball voted for, and Mr. Plunket paired for the
Tests Bill at the second reading. Should the mea-
sure be hereafter applied to Dublin, the scholarships
and fellowships in the university alone will be affected,
and the former not so much as the latter, as
there are already "non-foundation scholarships."
of equivalent value to the ordinary college scholar-
ships, which are granted without the profession of
any religious belief, whereas the Trinity College
Fellowships are alone conceded to those graduates
who take oath that they are members, and intend
to remain members, of the Irish Episcopalian
Church.