The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1884-03-20
Meeting OF Richmond and Allegheny
First-MOrtgage BOndhOldcrs.
NEW YORK, March II,


A meeting Of the holders Of first-mOrtgage bonds
of the Richmond and Allegheny Railroad Com
pany was held at the office of ". u. Scott Co.,
"a Pine street, In the city of New York. at T. VI.
There were present the holders and owuers OF
| first-mortgage bonds amounting 20 sl,OO4'OOO'
and there were represented at said meeting the
holders and owners Of $4,000 Of said bonds.
aggregatIng the sum lpre'ent and represeniedl OF
Robert T. Hubbard, Esq, Of Richmond, Va,
| chairman Of the Virginia 1rst-mOrtgage bond
| holders and also bondhoder, was appointed
chairman, and Mr.. John +. scott, OF New YORK.
| was appointed secretary.
The object of said meeting was stated to be an
| interchange Of views In relation 10 prOposed
| pIan, dated 9th November, 1888 entitled, Me
morandum Of Plan for the Readjustmeni OF the
stocks, Bonds, and Obligations OF the Kichmoni
and Allegheny Railroad Company" which had
been brought to the notice Of The persons COM
posing said meeting and for concert or ACTON IN
deysing such other plan u REIMBURSEMENT aS might
| be deemed advisable. IL.
On motion. the said proposed plln OF readJust-
| meni was unanimously uisaDproyed.
The following resolutions stating 4 plan OF re-
adjustment were then proposed ana discussed sep
/. ResoIoed, That whilst unwilling To accept the
said proposal Of the 10th DAY Of November. 1888,
we are willing to adopt the Following OASIS OF seq.
| tlement-io wit /: Hair the interest on nrst mort
gage bonds for four years from LIST July, 1888, 10
Isl January, 1887. 10th lDclnsyel TO be pail SEMI
annually in cash, commencing jnIy H. 1888 pay
mpnt OF The remaining half 70 be deferred res
sonable time, without surrender OF the hrst-mOrt-
gage security for the same; with interest ~ per
| cent. payable semi-Annually on such deferred
| amounts, to run from the dates on which they
| originally matured: provided tn1t In any scheme
| of reorganization arranged on the basis we pro-
pose there shall be embraced proper guarantees
! for the due aud punctual enforcement ri the con-
ditiOns thereof.
q Resolved. That a comm ttee OF three be chosen
| BIZ this meeting to whom the said basis OF settle
ment shall be referred, and whose duty II snal be
| 10 confer with such committees Of other assacla-
| tiOns of bondhOlderS of the Richmond ana Alle'
ghany Railroad ompany rs may desire 10 80 con-
/ fer and TO consider what details OF ieorghniza-
| tion conforming to the views Of this meeting can
/ be agreed on; and II an agreement cannot We
| speedily reached said committee shall he chargeu
| with the duty of inqniriD2 what Is necessary lt
hasten the foreclosure proceedings pending ln th'
| Circuit Court Of Richmond, Va, and obtain al
order for the sale Of the property and francnlse
| OF said road said committee shall report tnei
| action for the approval or disaDDroval OF I'M
| Association of bOndh0lders at future meeting u
| be called by the committee.
| After discussing said resolutions they Nef'
! unanimously approved. ~.
on motion OF Mr. William l.. Scott OF Erie
| Penn, duly seconded, IL was .,,..
| RESOLVED, unanimously. That wnen tnts ileei
| Ing adjouTns IL adjourn 10 meet on thr caH Vi w
chairman or secretary on i've DAYS notice.
| On further motion, duly seconded, u was
ResOlued, That a cOmEittee OF three hrstlho =,
gage bOndholders be appointed 10 carry ou . W
provisions of the foregoing resolutions and 10 nc
port as therein provided. ~ - ,.., ),
! ON motion OF smith GIN, Esq. seconded o
James Baker, ESQ, said committee WAS appoihte
by the Chair as follows: George Buc khafn, Gro"
Ell MADDEN, George ArcnIs.
| There being no further business the meeting 40
journed. JOHN r. Sroif' secfe'''f'