National Republican., 1875-07-21
Synopsis of Amended Decree Of Sale Of the
Northern Pacific Railroad.

The court having found the legality of the issue
of the bonds has ordered sale Of all the property
of the Northern Pacific Railroad Company, Au-
gust 1s75, and directed that the proceeds Of the
sale Of the property shall be applied:
First. To the payment OF the court costs and the
legal expenses necessary to the administration Of
the trust estate, such costs and expenses to be
subject to the approval Of the court.
Second To the payment Of balances due to en- =
ployees for twelve months previous to the enter
1 s1s,OSG. 90 'n0 0iu'f-'4'n amount n'' 70 exceed
Third. To othe payment of right-oEway and land
claims, not to exceed $4,000.
Fourth. To the payment of moneys advanced
for interest on bonds or for labor and materials,
Filth. To the payment pro rata Of the bonds
and interest outstanding as shall appear on the
bond books Of the company and the trustees, with
cut individual proof by bondholders
The purchasers must pay in on the day Of sale
500 900 in cash, and the balance within sixty days
iK cash or in bonds at their proPoriionate value.
The lands and land grants must be sold under
the acts Of Congress In sections In the various
States and Territories. The order Of court pro-
vices that five per cent. in cash shall be paid in
on the day Of sale, and the balance within sixty
days. either in cash or bonds at their proportion
ate value.
The decree, as now amended, was entered on
the application Of the counsel for the trustees and
upon full hearing oil all the parties 10 the suit
and OF all those bOndholders who appeared to be
heard or desired to be made parties to the suit.
All the parties to the bill, and all the bondhod-
tons to the original decree, and assenIed to it
amended.
NOTICE
In answer to numerous inquiries from bondhold-
ers 1t may be said:
i. The sale Of the lands under decree of court
will necessarily put an end to the conversion into
lands Of the present outstanding bonds Of the
Northern Pacific Railroad Company.
2 Under the adopted plan Of reorganization,
preferred stock will be issued to each asserting
bondholder at the rate OF q 400 Of preferred stock
for each COO Of 7S0 bonds bearing accrued inter
est from July, 1878.
in exchange for any Of the eompany's lands east
Of the Missouri river, [some 10000 acres.)
4. Bondholders, by asserting to the plan of pur
ever, and no liability to assessments or the pay
ment Of money for any purpose.
5. Under the decree Of court as modified, bond
claims against the company. This will be done
from the books OF the company and Of the trustees
Of the mortgage. All that is required Of bond
to the plan, send It to the Purchasing COMMITTEES,
and when notified, send their bonds to the proper
trust company in New York, and receive In ex-
change the preferred stock.
8. The Livingston plan"-tbe only one proposed
protects the Interest OF all bondholders by q
purchase Of the road and property, and q reor-
ganiZation of the company with the present bond
was approved unanimously by the general meet
ing OF bondholders, held In New York June 30,
1875.
I. Each bondholder can decide whether It is for
his interest TO take preferred stock under the plan
adopted, and thus retain HIS present proportionate
interest in the road and lands, and their future
development, or accept, in final settlement Of his
claim bis share Of the proceeds OF the sale of the
property.
PURCHASING COMMITTEE,
% Fifth avenue, New York.
Holders OF bonds in Washington and vicinity
can obtain copies OF plan by calling at the bank
inghouse of II. D. Cooke, jr., Co., 1l2s street.