New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-04-25

1872, quarterly coupons from July, 1873 to December
1879 making total Of 30 per eentH s III pe epe cent
in the OF the gold convertible bonds Tor "en
amounts funded coupon bonds are 10 20 oS iS ner
cent from LIST December, 1877, 10 1st June, 1850 u
d per p conyartpe Sonds TO he represented
by new second consolidated mortgage bonds Dea.Ins
uypg la Dcember 1863 the funded coupon bonds
last mentioned TO mature at the same dste' anu ran"
One-half of The shares of the company are to be
issued in the names OF more scts OF trustees WIZ
voting power thereon until the dividend has been paid
on the preference shares for three consecutive years
the hnjnrr TO receive from the trustees all div-
denda declared In respect OF the shares held IN Iu1t
The shareholders of the present company are 10 nc
readmitted shares of equal amounts preference io
preference and ordinary for ordinary Dnt repics'rE
OnehRh by certificates unuer lhc Hst cL.Sc' -
Of foreclosure and rccOnsruclOu ana MY JIM
amounts for the carrying OF TINS scheme mo
effect are to paid of the to be raised nuder
this scheme, or Otherwise, as the trustees may lie
Tee English Reconstruction Trustees are to be: For
first consolidated mortgage aud sterling bonds " w.
Miller ana H. o Ur no sGnI x Cross Member of
Parliament, and Westake for PgfeInee ana %IdinIy
shareholders l.. Michigan and Il. Wmtwolth; lhuepeh-
dent representing special interest Sir
L. W. Wotkn with casting vote and +. W. Powell
BRIEF TALKS WITH The LAWYERS
An attorney who been very prominently connected
with the numerous Eric suits the side OF the receiver
said Yesterday after the sale The purchase OF the
Erie Road under the foreclosure made by com
mcc representing the English boudholders who are IN
favor OF the reconstruction scheme Ihey nav Hi
Farmers Loan and Trust Company tnelr nh 0ad
in NewYOrk, and the FIJI amount OF SO'oop,OUo
paid for the road will be deposited there The sGheme
OF reconstruction VIII he carried out at once, ana ~
few weeks everything will be working smootnly,
/ do not think there is any desire 70 disturb
the present management. Wren everything S1 inn
have been arranged, and the details OF me
scheme shall have been perfected. an aPpi:-
cation will doubtless be made to remove the receiver
and president viii be chosen. The Purchasing Com
mttee will convey the property TO the new company
and VexatIOus lawsuits are about at an end
j. VanderpOcl said last evening, tlat!he decision OF
Judge Potter against Adjournment OF the sale OF
the Eric Railroad, was profound surprise 10 bin
ana he believed that the sale Of the road would canse
eat loss to the stockholders OF the road. Beyond tha
he was unwilling to say anything.
william A. Beach said that his knowledge OF the Ere
ntgations wag so limited that be could not give any IN
formation as TO the probable result OF the sale OF the
road He had called into court, he said, without
the time necessary for him TO get thorough under
standing OF the case and he could only regret mat ne
had allowed himself speak ona matter OF when he
knew so little. 80 , =,
Another lawyer connected with the case, in the Nc
Henry interest said the matter was so sudden ana
unex pected that they had had time 10 take counsel
together in case, but expected TO do so soon lie
thought the decision and sale BODIED no good TO the stock
II was asserted in some quarters that effort would
he made to set aside the proceedings on the ground OF