New-York tribune., 1873-12-27
NORTHERN PACIFIC BONDS.
PROPOSITION TO BoNDHoLDERs TO FUND Interest
IN LAND WARRANT COUPON BONDS.

A PROPOSITION TO BoNDHoLDERS To FUND INTEREST
IN LAND WARRANT COUPON BONDS.
An announcement of the Northern Pacific
Railroad Company having been published TO the effect
that 1t will fund all its bonds to and in
cuding Jan. /, 1875, into fveyear per cent coupon
bonds, convertible into the CompaDy's first mortgage
par and into the lands OF the Company at 25
per cent of from the regular prices TRIBUNE reporter
visited yesterday the offices of the Company at No. %
Ffthave., ascertain IL the officers we're willing TO
give to the public any statement of the financial con-
diton and prospects OF the Company The officers de-
clned 10 furnish such statement and withheld all in
formation to the present aons Of the Northern
Pacific with Jay Cooke Il Co. A. J., Pritchard,
the Treasurer said that those relations now in such
unsettled state that it would benefit neither the
public the Company to publish any statement with
regard them He courteously refused TO reveal
Of the steps taken toward adjustment and declared him.
self unable to state when definite information the
subject coud be given. He simply admitted that mat
mixed up at present that the publication Of
statement would not be advisable. When asked about
the plan fund the interest the bonds he gave tic
reporter . circular which embraces proposition pre-
pared for submission TO the bondboders The Company
Is sending out these circulars to boDdhoders who
apply for information 10 the affairs OF the Company
Mr. Prtcbard declined to supplement the statements Of
this circular with any explanation or with further
details His parting words were 1.-The Company is
feeling pretty poor just now but hope that We shall
come out all right" This is the circular:
NORTHERN PACIFIC RAILROAD CoNPASY,)
TREAsURERs OFFICE,
No, % FIFrI-AyE., NEwYORk, Dee. II, 1873. }
To the BondhoIders Of the Northern Paetac Railroad
Company: This Company submits for your considera-
ton the folio wing statement:
l. The Company has $50 miles OF road constructed and
in operation, Of which SIS miles have already been
approved by Government, well built and thoroughly
equipped with rs locomotives firstclsss passenger
ears 10 secondclsss passengercars 500 boxcars, lI3o
plafOrm-cars. Both the Eastern and Pacific Divisions
are practically completed roads. having valuable
connections at either terminus with the control
of 400 miles VI navigation OF the Columbia River In
. The outstanding floating debt of the Company un-
secured unprovided for, will not exceed f437000
The fQad built entities the Company TO about IL oco
900 o. valuable land II has already received pat
ents from Government for 1894 "a 100 acres.
L. The Company being unable at present to pay the
maturing its bonds the following PROPOSE
ton ia made TO its bondholders, viz:
Firs To fund its interest due January 1874 July I.
1874 and January l. 1875, in hvcyear interest land
interest payable semLannualy January and July OF
each year. the first coupon however, TO mature January
Second: To make the interest land warrant bonds
ceivable at any time before April 1871 at par IN pay
flushed road east OF the Missouri River, and north OF
the Columbia River the price Of the lands for this pur
tbe per cent less than the regular cash or bond
prices they will also be received par and accrued
interest exchange for the first mortgage bonds Of the
Company at par and accrued interest at any time be-
Third To deposit in escrow, uncanceed with 8. Ken
nedy Cass al coupons and orders for interest
which may be funded In the proposed hve-year interest
land warrant bonds but II this Company shall make
default In payment Of interest principal OF said inter-
est land bonds 1t natures. the holders Of
the said bonds may, st their option surrender them
twth all coupons atached to the trustee named above
and receive back the coupons orders for interest OF
the class surrendered, for which said interest
land warrant bonds gwen. Bond scrip will be
given for less than $780, convertible into inter
land bonds when aggregated In amounts Of
eco and multiples thereof.
The denominations OF the said interest land warrant
bonds are too, $500 and Nooo each. Coupons may be
presented person, by mail to this ONCE, ana
exchanges and returns will be promptly made as above
stated. A. l. PRIICBARD, Treasurer N. 7. X X. Co.