New-York tribune., 1876-01-06

Company as fairly and Justly possible, according 70
rights and priOrities The Committee propose as io
FIRST To give the voting power, and therefore the en-
tire control of the management OF the properly 10 tc @
ston and when that condition OF things has arrived 20
give the bOndhodeIs the prepondeance OF cohuo III 'o
Second To reduce the fixed liabilities OF the Company
10 the level Of its revenue shown In the sca year
and secondly by reducing the interest on
the first and second consolidated mortgages .,,..
per cent bonds shall receive mortgage bonds OF the
class for interest at present rates Tor Se gT
/, $780, the interest snail De payable IN goa at INC e @
OF per cent. after which the interest sha rise 10 NJ s
bonds prior to March /, 1880, at 1O5 ,,,
Fourth: For the second consolidate morgage, ncruu
ing the convertible gold bonds, there shall be
two classes of gold sterling mortgage DohdS cue"
J. For 60 per cent Of the principal bonds carrying interest at
6per cent which shall be funded IN DGy & S % ISL and
thereafter to PAYABLE in gold ..--,,, ,r,eros,
FOR per Of the principal 6onds carrying an neF cen
payable only out Of the ret earings OF eac Sen' t "
until Marcel J. 1881, and thereafter a. stock he
FUN: That the dividend ON tie preference s'o'A NC
reduced to g per cent -oo.o,,,s nv tbe
SiIth In consideration Of the concessions In Wy ,ne
bondhoders the Committee recommend tlat assess
nents made upon the preference shares OF FS sou
per II 90 and the ordinary shares oi 20, eoa pei
800 PAYABLE by two nsallments at dates 10 ne nAeu
nv tha Committee The shareholders III Consideration
thereof receive third mortgage bonds a, par Hu @ , a"i
ona amounts such bonds TO bear interest al per cent
per annum, and to be payable only out OF tne net earn
ms al each year. IL and when carned ana tuthef 10 re-
ceye the new company TO DE formed nhuer te
reorganization, an exchange for thelr existing Snaes
and representing the rights and interests except as
hereby modified. Arrangements will be made 10 enable
those who cannot meet the assessments 10
surrender portion OF their shares OF equNacht Nalue
in lieu thereof.
SerenM The concessions herein proposed are on the
assumption parties in America having claims on the
mpany will meet the matter In corresponding spirit
especially to the leased lines and other 0nerOus en
gagcmens. which now press 50 heavily ON the Income O
the Company.
Under this scheme il fully carried ont the current
debt OF the Company will be provided fora reasOape
amount Of capital world be found for alterations ana I'M
pToVements OF the railwaytHe management Ot tue ne
would vested in the most responsible OF IT'S owners
and the Committee trust that, with economical ana
energetic management the fortunes Of the under
taking will be retrieved The Committee nave
TO add that they have received from tue re
ceiver the years acc0untsa balance sheet ana oter
papers-a summary of which Will be puOllshed IN tIe
newspapers soon valuation Of assets ana naDil
ties unrcazed shall be received from the Preside III ana
receiver which is promised by the next mall In 0fdei
TO obtain the opinion OF the bOndhOders ana shhreou
ers upon tins scheme the Committee hereby summon
meeting Of all interests to be held at the Terminus l0te
CannOust. London, Tuesday, attn January, lr'o at
Il O'Clock noon, at which the attendance OF bOndhuer
and shareholders is requested Forms OF assent can DC
obtained the Secretary and is earnestly desired
that of the bOndhOders and shareholders as cannot
attend the meeting, but approve theischemc VIII sed III
their assents the office OF the Committee, No 3S Pour
try London l.. c. to strengthen the hdnds OF the
Committee IN carrying out this important matter.