New-York tribune., 1875-02-27

o.Asnd s2oooos
R'1s: aas Isi - aSO0os
mcdaniel shops and part Of nSer front not covered o
FaHded coupon oend, at p cea 100000
BOOds Of p'emb 1866 at per cnt in'eres'''. ldV0ey
s70i70Oo
The two tirst amounting together to s7Oooe can be
renewed present rates of interest. wnlch leaves
total OfsG3l7,0OO 10 zeal with Ii IS Simply lnpossole
that the live under such load Of de0G a hieh
OF interest. Negotiations nave been III progess
are the only par,es who the Willingness OF ability
to help in present straits. Unfortunately tho
winch have so deeply aheeed US nave aiso oeen
injurious Their shareholders refused to concur
measures proposed TO tnem for the renei OF
this Company; and Board has lately been eeOtjd
Their Chairman, the RI. Hon. H. G. f. Childers spent
time IN ths eounry ana discussed u, he Sn1o
Since England he has been In communica.
with the bondhOlcers In that country tWuo hola
upward Of half of whole amount OF the first second
and funded coupon bonds Of the d. NJ Col ana mas now
made the following offer TO aid this Company In its
present most critical condition, VIZ"
That the Great Western Company S advance the mo ss7 90,
Ahn men, nj spen the extent of 2ooOOO
n,lns.to.i ..................sI7 sI7o72si
And take heir hereafter referred
TO- at par provided tee Donisoae 5 va. isfs i 20 'e'
an sssssate amount 5O3 $40 saIr.nde .let,
yalae present bonds bearing interest RON
| 1875, the cent, AMI the FOL
an ssi: -. 4O55oo
OF nelr lace IN De" ooI's SN@'
q tas % " ond 70 e surrendered and receive in
similar ~ per cent Of 'aTp ,-oooo
r: yISs Ss.oe Of tn: issue delivered TO- G,ci,
en- slR ,snpan oF @ Se1A & II WI wi" pay & -. b4 n9
amounting to........... I7a72!
Making total OUOOW
For which new mortgage viii be created dated Febaa 1876
having 10 Yeas lhe interest tls mortgage 10 be- iorns
dt year per for The
aadeE Of the term Of the mo.s.Se ae osg must PU' % aa S
thee .hl 9e no or Gsaer ss ga @ S. y Tb
deiaa. or day IN Pyag 90 sa 10 ] % @ % Sra Sat se srrr,r,
FAM will remain charge upon the eara-nss , ,,, ....
Tue Great Western Iurtncr agree II this rearrange-
waukee Railroad and work 1t at 10 cent of the
receipts year. thus securing to the bondholders
80 per annually Of Whatever tue raii; may be- IL
will require whole of year properly TO renew and
nd. the the int erss aaa ReSs @ this paced
II believed that with the two small prior mor5sages
than OO making total mortgage debt or s7OOooO
February, 1876, of $4,000 To earn that amount.
with working expenses guaranteed by the Great
require gross traffic about sl,S5OOco Win the line
pat into proper repair. aud with sum ent supply OF
rolling STOCK equal in comfort to other lines, 10 Is he
leved that this traffic may lie obtained Tue directors
submit this scheme 10 tue Dondnodcs as tne best that
obtaining upwards OF sl755cOO to pay of the hjatng
deO and TO puC the line anu rolling stock In order Is
psny offer to advance this money when no one else can
or will do So II delay or opposition Is encountered.
there other foreclosure OF the mort
cages and the appointment of receiver In that event
many years eapse before sufficient profit can Do
earned pay the noang debt aud properly repair
the property Ia tue end there would Do sale by auc
tion and pro dividend OF the proceeds Tie Ea.
gllsh bondiolers have agreed ihS plan. ana they
hold upwards Of one-half OF the bonds.
TIE COLUMBUS, CHICAGO AND INDIANA CENTRAL
COMPANY.
The committee OF bondholders Of the Columbus Chi
cago and Indiana Central Railroad consisting James
Milhken, Adrian Isen. william White wright William
H. Gebhard, and Frederick ]. DePeyster appointed at
meeting held few weeks ago. have just prepared
agreement which they have submitted for the c0nsdera
ton OF the hOndholder The following Is synopsis Of
the document:
The aforementioned provisional committee for the
first mortgage b0ndhOders Is empowered TO protect the
rights OF tIe subscribing 1nnoders un at least nalt
OF the first consolidated mortgage bonds outstanding
shall be elected by majority In interest. la
like manner the aforementioned provisional committee
tue second mortgage bondhOlers Is empowered 70
protect the rights of subscribing Dondhoders, until at
least half of tue outstanding second mortgage bonds
exclusive OF those held BY toe Pennsylvania Railroad
Company. shall have come into this agreement; hen
permanent committee shall be elec ed Dy majority ia
| Interest.
Either Of the permanent committees may. il neces-
saJ foreeIose buy IN at Ioiecosure safe anu seher1i T ny
subscribing bondnoders. Tne committees are author
lied to negotiate with any all parties Interested for
the purpose OF making such arrangements yariatons
| or adjustments Of our claim as bOndh0ldeis as may
seem 70 them expedieut. But arran cement shall
be OF effect unless ratified at general meeting by
twohirds IN interest ln case IL Is deemed advisable
to forecose either OF the committees Is empowered To
buy IN on foreclosure. Tue subscribing bondbOlders
for the purpose OF completing tue by furnish
ing what be required otherwise than bY tue use VI
bonds may be assessed but not more than 20 per ceht
Of their bonds can be asked iron those hold
ing mortgage bonds, II purchased foreclosure w
their committee and hut 10 per cent from tnOso nou
lug second mortgage bondss II purchased by their
committee Tns provision is or importance as giving
the committees lu case ot emergency, 10 Du
theoad meet legal expenses and the DIVIDENDS duo
to bondholders snail not come into ths agree
meut But practically there little OF no proOaoiy
| OF such assessment.
Ali SUBSCRIBING Oondnolders shall within 40 days after
signing deposit their bonds with the Union Trust Com
| pany OF NewYork. Transferable certificates shall 70
issued bonds and coupons as may Dc deposited
In case Adjustment without foreclosure the OOnds
| sNf1f no
, render Of the SAID certificates.
| BoNpHoLDERs OF ANOTHER WESTERN ROAD.
| The consolidated and second mortgage oondnoders
OF the Toledo Peoria and warsaw Railroad held meet
ing Yesterday at Broadway and Exchangeplaee' Tho
purpose Of the meeting To discuss te question OF
reorganization OF the road ana 10 proteSt .he
esls Ipose concerned lt was resoveu lhIt Ihsres
L. Frost, Rush e. Hawkins, joan l." Barry, anu A. -
Beknap be appointed committee to propose plan OF
reorganization OF the Company
FURTHER REDUCTION IN FREIGHT RATES
The conflict between the Baltimore and ONO
and roads continues to 0e bitter In ofder
further to compete with their rival the trunk nes nave
made an additional reduction, and they ordered their
freight agents yesterday reduce the rate on srup ana
molsses basis OF 80 100 pounds 10 uoa
go. The terms of shipment we're published IN e.sr
which printed In The TRIBUNE on Thursday ,s ~ -
expected that before Monday all classes OF speslu
freight will be placed the same basis and feduc-
tion will also be made from the rates for the nr
third and fourthcass freights. lt was staea eonn
IDENTIFY yesterday that the arn rates were not observes
all iuly by the Pennsylvania line, although % noma
the rival lines also extended 10 what s known Is
the air line To Florida aud the south heIeso
fore III have been 81 80 to Jacksonylle,
with the same rate back making s5 ana the rayrler
had the choice OF travelling by tho Baltimore ana ONO
time when the railway war began the former road has
been entirely excluded by the Pennsylvania road frcm
nave boon reduced to 90 for excursion ticket "a
Jacksonville and back, reduction OF W per eeaI