The New York herald., 1875-12-03

MEMORANDA.


1t is reported that the earnings or the Chicago and
Northwest Railway for November show an increase
the same month last year Of $153 Ooo The earn
ngs of the fourth week show increase OF $50, O00
Favorable reports also made concerning ST. Paul
and Union Pacific
Concerning the Northwest stocks there an uneasy
feeling growing out of the statement that the company
having some time ago determined the issue of $10-
O0 OF convertible bonds for the purpose Of purchas
ing the West Wisconsin and the Rockford Rock Island
and St. Louis roadsboth being feeders Of the North
west-the bonds in question in process OF
into stock.
change Of importance to the commercial community
is announced to take place January l. in the organiza
ton OF the banking firm Of Drexel, Morgan 4 Co., Mr.
Joseph Drexel retiring and being succeeded by Mr.
Egiso p Fabbri, founder OF the well known house Of
Fabbr & Chauncey, China and South American traders
All the other partners of the house including Messrs
Anthony J. and Frank Drexe OF Philadelphia, remain
as before.
The following shares we're sold at auction to-day
ST. 600 st. Joseph and Denver City r R. Co. first mtg
eight per cent w. d. BIDS due 1900 int Feb. and Aug
(Hyp.D all unpaid coupons attached ST, 900 each
By order OF Receiver.
40 shares Rutgers Fire Insurance Co. $25 EACH 1e1X
The New York Directors OF the Michigan Central road
include Mr. Samuel Sloan, Of the Delaware Lacka
wanna and Western as Vice President
There was a runof SAID 10 come from ST petersburg
that Russia and Turkey object TO sale Of the Suez
Canal TO England
tits said that Messrs Rothsehid advise, by cable to-
day the withdrawal Of all the Syndicate FIVE per
cents from the New York market They look for bet
ter rates abroad for the unsod portion Of this loan
Messrs C. L. Perkins Jesse Hoyt and L. H. Meyer
as a committee representing the first mortgage bond
holders have issued scheme for the reorganization Of
the Chesapeake and Ohio Railroad under foreclosure
1t is proposed that the said committee shall buy the
property as trustees OF the bondhoders and reorganze
ON the following plan, TO wit Z.
Issue mortgage bonds at per cent, princ
pal and interest payable IN gold, having
lOrty years 70 run, $lOOUUUOO
First preferred per cent stock TO- GOO, 900
Second preferred per cent stock. 10, 800 900
Those several new securities arc to be distributed
follows:-To the nrst mortgage bondhoders, on sur
render Of their present bonds ST. 500 600 mortgage
bonds and ST. 500 900 nrs preferred stock The second
preferred stock for $40 500 00O proposed to be
changed for the outstanding mortgage bonds Of
the present company. This plan will leave in possess
OF the company S. 800 OF the six per cent
mortgage bondswhich the are to have author
Ivy to S. 600 0OOfor purposes OF improve.
ments, construction, extensions equipments and.the
expenses Of reorganization The So I50 900 OF nrst
preferred stock which is reserved be used for in.
terest on existing bonds from time OF nrs default to
November l. 1876. II is also proposed TO obtain the
power under the charter OF the States OF Virginia and
such an amount OF common stock as the committee