New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-08-08
LOCt,L MISCELLANY.
FINANCIAL INTERESTS.


Hslvy suIpNFNTs OF GoID-ADvANCB IN THE
PRICE-wAII-sT. DETECTIVE fAikol|-ChESA-
PRAKR AND ONO SETTLEMENT
The engagements for the shipment of more
than A. 900 600 in specie England to-day have caused
much conjecture and an advance In the price 10 1Oi BY
some this shipment was regarded another proof OF
the fact that there Is combination Thch Ia desghee
10 interfere with the placing OF tho new ave per oeH'
bonds but Messrs. seligman q Co. OF the syndicate
said that they dd not believe that there was any ioun
dalton for thet theory. They regarded this shipment
ns the natural result Of the advance in the Bank OF
England rate of discount and the scarcity OF siering
bills Of exchange this side,
The Goyerniug Committee OF the Stock EXCHANGE nav
sng requested President Mstse OF the romeo boau !"
detail some OF his abest detectives to patrol the nnsu
cia precincts OF city, that official has detaieu He
teotives Sampson, Farley. Kerns and sehecK 10 toa
duty Detective Sampson in command In ADDITION Cap
tain Van Duzen and Detective Doyle Of the FIRST Pre-
Genet, and Detective Mooy OF the Stock Exchange VIII
also cooperate that it is expected that thieves Tor
gers swndlers generally will DO ban'shed from tne
street One effect OF the new order has been the arrest
OF man named Brandon, and another person chargeu
with dealing in fraudulent securities.
Messrs Fisk 4 Hatch, the financial agents OF the
Chesapeake Ohio Railroad, who, together with Presi
dent Huntington every effort to prevent the road
from going to protest during the panic, have prepared
the following statement and plan of settlement Tor SUD
mission to the bondbelders and creditors:
That the holders Of the six per cent First
Ropds fund their interest for two years IRON MY -
1873 e. that falling due Nov. l. 1879 May !. s,t n0n
J. 1874 and NAV J. 1875 into the seven per cent for the
bonds OF the Company, at the rate 0i % per 00N ~ Wv
III Thai the holders OF the per cent mortgage bonds
fund rs per cent of the principal of their bonds ana tne
interest for three years from Jan l. 1919 Oh VIC ra,
ing rs per AUTO the income bonds at Ie SAM means
VIZ IS per cent the income bonds by TINS lnens
connection with the proposal contained III 9Sc no
o OF Company. for future use IN extending 1ns
line from present eastern terminus on the Janee
River a; Richmond down the peninsula 10 deep "steI
the Chesapeake Bay enlargng the equ,pnen', anu
Otherwise increasing the earning power OF the roau
something over 100000 OF the per cent mortgage
bonds low outstanding. ,,s,..o,
cent first mortgage bonds collateral security rake
Tie same to in full settlement Of Their respective
claims and fund interest for two years from NOV.
J. 1873 on the bonds 80 taken into income bonds on the
other holders Of per ceuI first mortgage
". That the creditors OF the Company holding the
per cent mortgage bonds as coIaterai Sd
receive, settlement OF their claims, income DOnos az
Is, for threefOurhs OF the amounts que tne ana PEI
oqutaDly adjusted, and fund the interest
the per mortgage bonds 50 taken 10
threc wears from Jan l. 1874 Iuto bonds, Oh the
same terms as other holders Oi per cent mortgage
v That the creditors of the Company holding Sc
cuuty receive, In payment for tier CLAIMS Income
bonds S. with interest adjusted TO date of income
bonds The income bonds issued settlement above
are dated Oct. l. 1873 and are payable twenty years
after date with interest at the rate OF per cent per
Annum, payable OF the surplus income of the road
the interest accumulate until paid With the foregoing
arrangement carried into effect by ihe general assent
thereto bOudholders and creditors Is believed
that the ultimate payment OF every dOlor will De lu-
kurcd.
Tbe future financial plans Of the Company with re-
epect existing indebtedness in view OF which the
propositions TO the bOndhoiders and creditors were MADE
may be briefly indicated a. follows, VIZ:
First To apply the surplus earnings OF the road over
operating expenses. during the period FOR winch tAe
interest the first mortgage bonds is funded, after
paving on labor g. 10 increasing the equip
and terminal facilities, ana otherwise adding TO
The efficiency and earning Of the road IN order TO
give IT the necessary capacity TO earn the interest on
The bonds thereafter.
Second To the regular payment Of interest on
the first mortgage bonds OIL Nov. l. 1875.
Third: To resume payment OF interest on the per
cent bonds on Jan. !, 1871
Fourth To begin paying the accumulated interest on
the Income bonds there shall be a surplus
Income Tor that purpose and continue all
the income bonds shall be paid up, and TO pay the
interest thereon regularly thereafter.