New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-10-19
ERLORGAN7zsTIoN or COMPANIES.


LAKE BAILROAD-bENvEH EXTENSION BOND
HoLDHEs-SI. LOUIS BE!DGE AFFAIRS.
The Purchasing Committee OF the Montcar
and Greenwood Lake Railroad has Issued circular to
bondhoders, saying that the road has been purchased
u Their interest Tor Sl5GOOO The REORGANIZATION. II j.
claimed, will be perfected N three weeks An official
q; tie road said yesterday that ii now under
the control OF New York, Lake Erie aud Western
Railroad Company. He added ON the day of sale
check Tor S1jO.OCO deposited to the credit of
A :. Hewitt; by few Of the leading men in control
the Erie Road, with which ne purchased $4,000
first mortgage bonds from Cyrus W. Field and his
ncphews, 100000 from AItnur W Benson, S~~.oJo
from Jcsup, Patoa Co., 100000 from W {. sheldon
aud 80 900 represented 10y A. : Hewitt 30 per
and pad assessment o. per cent The control Of the
road by the Erlc prevents the development Of
any autagou interest," the SIDE of the Erc
Road. II Is supposed that the new management ~
drti ch the Moutcair and Greenwood Lake Road from
its present connection with the Hudson Connecting
Company at P,nhorn Creek, ana by building quarter
mile ,0ulhcry across the marshes, AN intersection
wal be made with the Erie Road thus bringing all the
business IN through the Bergen tunnel The Ilud-
Ion Connecting Company Is II sort OF synd cNtc
controlled ny samuel J. TIdcn and f."
Other, interested in the old Nouc'au Road lin" Of two
nI.r> the Enc ami Iruu~N 4yint Road, Huu
over which bpjh had 40 run II required ou'-jhldui the
en- rr earnings The MontcuT Road 10 meet the Hut
son Connecting COnpdnE'S charges. Nj Iudrh d De-
said he'd oil roorsiI Ztilon plan ON
second gaze bOIds AID ihc, are NO" cI'e'd Out
TIE Erie viii b. benefited p, TINS pnIcha'c i IN" Scr
gen tunnel charges tho Montclar Road wncn hr.,
toore have gone to the Hudson Connecting CompauN."
The Purchasing committee II I'p"ri'd L" De hN.u.
IN opinion ca thr second mortgage bonds, Ht.
Hewitt claiming ina lAty are NaI-''''' ana
MI Fied bO,dmg Ia thc contrary opinion.
The holders of the Junior securities, It - sId.
mean To have indignation In.clmg. some o. them
charge udt ihc III lnhri- "I u Iu'ha' '"inh' l
took advantage oi Their position, aud hY purchasing
500 Hoo ' 'Hc $.o"upo h.i nor IaSt n'Iu' 't "'
out 4 G de- OF N Denver Extension m"rga-,
plan rcorg.uztttou. II provides that upon for
closure an" ro"r-dnlliilon rev M'riS"-r' 81 T-'"p'
Of tie kaus., Fac H. Road. About >t@Vo"poo i ie
new gage bonds are o. Doe issued L" meet 100 iul,
the Denver TX cn>lOu bonds, principal and funded u-
,eIcst New bonds are also 10 Ice Issued. {" meet
the expenses oi Icors4u cation, aud for tne
un,upold iuated income buuo- should they hereafter
ue decided ta be- lien PRIOR To tine Denver Extension
mort gaze. The plan provides also Tor an ds-umuion
OF me IaN cpurjA Bra ch houd, ~ case the hund.od
crs forcclos and unite with the Denver Extension Com
The remainder OF the 80, 10000 boud- is to Doe issued
OILY a. me-, e.! mao ~ no,'Id o." pay On 'I m ' " ~
tac Unt,d ~dtr- Government. Ihr an i' interest i'
Do met u estimated at auout S-GlouO For i"c uu-
funded mi r.nt idym at, hc" per ''h' h'"ht '"i"'
.Io 10 DE- - e. WITH provision j". r.H"-
ius 90 tho ktn.ts Iarln' Road arr u" Dee ir,'i''d
to uTottc. holders OF tnc - ryrr IN. custom t"u1.
Tie junior .ecu.lB holder, "Aic not 'ui.rN I-n"i'i
are reminded j.ut "auy allowance mad to them WIZ d.-
Icad cuI.c' upon thcr "cE"'Io E'"d "I 'a". Inc
Contemplated Issue of new bonds, ulhcirHi aud ACCRUED
interest uui'r the plan Of REQ gIziton i gwen "-
Xix per cent bond. Eastern DIVISION ....... s:a7lgo
~ per cent interest ccrunca,-. Denver EHt'n-
.t De- cent a,oi a.ca bon ...... ,.o.o
Absollt, In',r 'st cha Rc-...... -..-... -'i'i''
IA. -ai D.. he tta,tces tnc L,r.- iiru-r n"r.-
that re foreclosure snt mo- al - l'u,- "n I"n.|
recent report oiu SCION Bum hIr's am! J"rn a. ~i"-
innrLI,y. In, bridge, II .- clInod. Wa buit e. no.
na,n prices, and 40 econ my "a a. Ic-ra 900 iJ7 con
London by j. s Morgan a 60. II IT. -.d ttt Oh" uicu.