The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-10-25

n III .
/ fifths OF the bonds are deposited with the
committee, then such purchase price ean,be
paid as to two-ff.hs, or s4o0,00G. by the
i bonds deposited with the committee. and as
/ 20 the remaining three-fiiths. or $500. 200,
! by the subscriptions OF tue subscribing pur-
| chasers. ~ 800
Under the reorganization scheme there
will be divisihle among the purchasers about
S5,470,000 second mortgage fye-per-cent.
bonds. and about sS4,T25, 600 first income
bonds. The subscribing purchasers will
entitled to receive three -fiiths of each class
OF the securities in the Reorganization, or
S3,2S2, 600 second mortgage bonds, and
about S2,S35, 600 first income bonds, yield
ing for each $1,000, or .e267, paid by sub
| scribins purchaser. S5.470 second mortgage
bonds, and about S4, ,725 first income bonds.
| In other words. each subscribing pur-
chaser will, by making himself liable for
| the amount Of his subscription, which will,
however, hot be calledtup teXcept the first
two instelmeuts, aggregattng $500, or e103
10s.l until required for the purchase, ac-
auire the same right, interest, and privi-
leges in the reorganization scheme as II he
had become the purchaser OF consolidated
bonds at about 18a per cent. OF their par
value. !.,a. at., r. ;s, .".. :a
Should the railroad be bought by the
purchasing committee for smaller sum
than 81, 600, 900, the subscribing purchasers
would receive the same amount OF re0rgan-
ization securities rs If the whole Sl,000,000
had been bid, while the calls in respect OF
their shares would be proportionately les
sened, thus reducing the cost OF each con-
solidated bond below even the above csti-
mate OF 49, per cent.
Each subscribing purchaser will have to
pay 70 the committee in respect OF each
share for $4,000 or e2,070 nominal sub
scribed for by him. $3.50 or E51 15s. on sub
scription and $3.50 or G51 los. additional
within seven days from the receipt OF q
notice by him that all the sixty shares have
been subscribed for.
Thereafter he will be liable for calls, and
when required for the purchase OF the rail-
road to the extent of the full nominal
amount OF his shares, being $4,000 or
g., ,070 each, less $500, the aggregate Of the
two lnstalments then already paid. These
calls will be determined upon by meetings
OF the subscribing purchasers held IN the
city of New York, when each subscribing
purchaser can be represented personally or
by proxy. Notices Of all such meetings
viii be mailed from New York to subscrlb-
ing purchasers resident in Europe, thirty
five days before each meeting, or in cases
where an agent in New York has been
designated, then to such agent five days
beforehand.
Should it appear expedient to the COM
mittee and to the subscribing purchasers 10
increase the limit to be bid for the property,
each subscribing purchaser will receive
thirty-fve days. or his designated agent
five days., notice Of such decision; and
each subscribing purchaser will then be re.
ouired to notify within ten days from re.
ceip. by him or his agent OF such Intention
bis assent to such increase, or his subscrip.
ton will be cancelled, and any instalment
that he may have paid will be returned to
him in full after which he will cease to
have anv interest in the purchase in respect
OF his subscription, and will be freed from
all liabilities. including calls, on account oi
his shares so cancelled.
The amount paid by the subscribing pur.
chasers will after the completion OF the sub
scription for all the sixty shares be deposit
ed in the United States Trust Company oil
New York, or such other trust company as
may be designated by rhe subscribing pur
chasers, to the joint credit OF E. Living
ston, Esq, and Sir Henry Whately Tyler
as trustees, and will not be drawn out fol
any other purpose than the purchase OF the
railroad or for repayment to the subScrib
ing purchasers, as mentioned in the sue
ceeding paragraph.
In case all the shares are not subscribed
for by the 1st day Of November, 1873. OF
the committee fail to purchase the property
all amounts paid by the subscribing pur
chasers will be returned to them without
deduction. u.
Copies of the agreement Of tie 1st day o!
July, 1878. between the committee and the
Subscribing purchasers, the authority o1
the committee to aliot shares, and the opin'
ion OF Mr.. Benjamin, G. c., can be in
spected at the office OF the committee
Meorgate- Street chambers. London, E. G.
OF Messrs. John Collinson Il Co., so 0t
Broad street, London. E. c.; and Of the so
licitors OF The committee, Messrs. Janson
Cobbs d Pearson, Al Finsbury Circus, Lon
don, E. G.
Subscribing purchasers who are willing
to nominate the agent OF the committee IL
America, Mr.. II. A. V. Post, OF 81 Nassau
street, New York, to act as their represent +
ative, can do so by executing a power O.
attorney, which can be obtained at any d
the aforementioned offices.
Subscriptions accompanied by remit
tance Of $3.50, or G51 I5s.. per share sub
scribed for can be sent on the accompanying
form to the secretary OF the committee
Moorgate-Street chambers, London, e. c.,
to Messrs. John Colinson IL Co., so Olt
Broad street, London, E. c.; or to the Con
solidated Bank, 80 Threadncedle street
London, E. G.
For the committee.
ISgnedl SYDNEY j. SMITuERS,
Secretary.
Moorgate- Street Chambers, London, e. e..