New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1859-10-25


ties in interest in tse Erie ro.d. which Vas ,od.y
adopted by the Board OF Dre tore. j, is es'eta.iy
the scheme recommended by the Eosso Committee,
and sk. 10 saer fee Of any oOe excepting tbs poet
ponem.rt of claim.. Any scheme OF reorganization
must, Of course be mst'er of eoncessioo, and this
one sppesrs 70 be a. little Objectionable a. any which
bas been .useested- The difficulty in the way Of is
.dootjon sill probably be with the first, scent, and
third mortgage bon ihod.rs Who are asked to post
uote their coupons without any squvaent-
CoSrs,cr Bes,ea TIE share.nSer. and he Credi.or, Of
the Yvs E-t ha' oGa Co-sDlEy t9fsHy
Mortgage seeuriis E'seed B0Hei ard CAPITA! So
The New. York and Erie Railroad Company having
i-d maturity certain q TOE etppeE, up:s Il. boots
ooproe Of The fsnr of receipt; from ia trs; snd GET
II The creditors having IN eonse renee enhanced
Company ~ ep c- the uorsaze trusa
sd Reeeyer popey covered ey 'e fourth and hfth
mot,se. tsviOs been spPoired snd arc 1enOet u
Ing the owrs Plaza for hqaf.ioE zoe abilities
ohs company the B.o Of Directors Of he Company hav-
ips also I'D s,,.d ard reoomDeneedri
Nov ibsreiore jde bondholdeis and creditors Of
op Of The agreement. The otb-rs her,in ou.a.d and Of
and each bodee and representing zoe n;e-s.
oIposle co hereby agree - follows
t soch holders Of to- 5rs, Dd. Of
The 'sd mPny 70 eepos sh me trustee. n,einsf
Due and b n.iure Nov l. S5 Tor payment hereafter from
earpr,' mo, hereby waving any hen under u. saa,es
Nss Yok and to EXCHANGE them o srP OF fom snne1ss
NAKED they holeps ne coupons IN ''u' fer u Until psJ'
Srcons socb Of .. as second orss. bond.
company receive he p.yueo OF our repey.
earning ,not ho1eveI WAVING any h.n' andeI said 'eeha
nos.') and such of Us bsve received couPon eTensoa
sheets vii der 10 sad Trustees Ia exchange for sP Of
hIe 'om coupons BE- thus paid from oei -srni
Third 5ooh Of hodsrs Of the third mortgage bonds OF
o1upops pas, and March l. and september 1862
for beresr from bet earnings no; ~sivins any zen
nooiDs said coupons us. FOR until pyea;
in full We ferher request na the third G9rtsss
~ Of
red.esbe in 1883 issued unde, take up toe
second ottas,s bones Of the company q uA,aty be ud
Fonta Such Of holders of the f.ur:h mort ";
gage bIds ssd Con hereby deposit with said
October 1861 and April 1851 for psymea. here.er fon
TO .xcL.Ds- them for scrip II Ike fora-.sd hodns
the IN ust for 10 Ill pe full and such OF us are hol
ib ,ad ru.t.e. our respective coupons p.. dne
1889 and June and December 1890 AM June
o.T psymen, tse,eo n me- -.rnins.
Trustees boops the same in trust for US Til paid in iI na ~
in cary this scheme either boh said fol,a or
fifth mortgages forecosed and Compsay formed new
bds Of the Company Of ike amounts srm' Of
payment sns priority Of lien with our present oo9ds are 20 Dc "
With corresponding pons Pliced with "a
90 ttst the bod.s Of and fifth BINDS hereto
subscribing shall have the gbs the scheme were car
ried out without foreclosure -, ,,,,
other unsecured binds Of said Company heeey age
to exchange respective bonos for p--r-d teh OF IKE
pviucpsl o bones With colpons now over
Que End for two yean advance added aud deph our
bopds said Trustees be exchanged receiving tnef-ig
il to Be- preferred dividends o. the earnings az
the year, but not oberwiss n TO exceed
Of nortssse interest, and oels, ed coupons in nj
SiIh holders fhe Stock Of the New York
snd Line Railroad Company hereby assent to ths Tor ana
to exchange respective shares for shares to ine same
soun IN such new SoaPsn1: ,S0 ,fu, Win .sS
Trustees for that psrPose on receiving receipts taefeo " FORM
Sersnta Dodlty s. Gregory Of Jersey City and J. G Ban
Dsvs OF Nes whose names are hereto of
the Of sns their assent hereto are hereby created
v follow
To Ard hold said mortgage coupons Of each class and
ii To receive and Fourth Fhh Mortgage Bonds
in 9. AID 1banss them as herein provided
pr and exchange them for such preferred sock and sue
H. To and hold such share, the capital
the NewYot and Erie Railroad Company for the purpose
To cause proper agreements 70 be drawn in order
Gerry the purposes of this sereeDen and they or either oil
them. The attorney in fact OF the 'b'croei hereto to sign
vi In case sale Of the road under foreclosure necessary
provided said being under
h's' q, mid ss that the Receiver
20 receive the thereof from the management
i1e Ys ss s .ad
ee.cD $50 Gee PncP sum- to BE % b. S.'
'd Trustees BY the Beard OF Director. and 2, which
s.a,. mon The Lops Docr properly e.tsd to amount 70
$50 Cos Cd. the liquidation OF said delayed mortssss cou
in the order OF their priority which snail terminate SAID
VIII To retain from said earauss, compensation for
sboul6 the whole or nesry all of the and h
s a. nu scp,sS credor, And s,ockhoISers Il the
w. "a Ers Railroad Comp.ny become parties 10
~ n,,sc, ue nnoooss 20 c.rry n out without fore.
-. b. ,b,.,nn, l,,.,,ve sanction 20 II Bu, should
- ..sI 80, ,ot h. ob,ansa foreclosure will be
eeu w go. ~. s.d T,n..ss. ioiotly win
nc.aJ ma g D;,.c,a,. q, ma ,rS,, ~ en With I'M
~. p. ~ ., vnstb her 10 proceed by foeclos
~ ~. no had The ,toet az each class GRO.
uis "a ~ $50 h .b nsw comn.ny /. 70 he issusd by the
~ a. E,,s Rsrosd e. mo.hy st,r legislative sanction
o,,s.d II Eco.ure nal We authorize aid Trustees
- s.ss..r. O., 6IIow..
Ho,rs Of the bonds issued under the mortgage shall
be- 10 The ful amount Of the bonds held By
In .beir n.ce mort y.Ra b,cd. for winch
r. az ~ ,.cive new ort,ase bond. of like amount aad lien
.. 30 r,oyi5es
IT, All the subscribers hereto holders Of nor age bonds Sc