New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-08-02
NETWORK, WEST SHORE AND BUFFALO
RAILWAY COMPANY:

convinced that the interests Of the NewYor Cen
Hudson Railroad Company and OF the bond
holders Of the New-York West Shore and Buffalo Railway
Company would be best promoted by the former eompays
curing railroad OF the later and work
ing such railroad in harmony with its owa system we
opened negotiations secure this result
These negotiations Ia reached point at which we are
prepared lay following proposal before the bondhoers
the Comp order that each OF them
shall have equal opportunity 10 share
hereinafter mentioned and
With also Of promoting unanimity and speedy
termination Of pend in difficulties.
The Newly ork Central End Hudson River RatlToid COM
pany has executed Inc, upon
ganizaton OF the NewYork West shore an Buffalo Ran
Company take possession OF the property the re-
organized under lease and % suarce the prtn
cipa OF the bonds her matter mentioned which
are o a secured by mortgage upon that property.
The conditi Of the contract . follows;
FIRsTThat the securities t. be issued by the reorganzd
Company shall be limited sJO.0vO.OOO
Four per Mortgage Bonds and 10OO0OO0
Stock bonis be dated January lss and to
the expiration OF tn lease In i75 years
default in payment Of interest for two consecutive
years
sEooND-Thatof the Mortgage Bonds Ss5 900 900
Shall be ed in exchange for the 5O0OO,O0O
First Mortgage present Company with due
coupons atschedthats 200 OF tue guaraDtesd
bonds for S.. 900 OF the OH.
THIRD-That the REMAINING so5.0oO.O0o. except such
amount be for eor nizator shall not Be
except the request OF the NewNork Central and
Hudson River Railroad Company to provds for prior liens
necessary terminals and such other property and for sueh
Directors OF the NewYorx Contra and
Hudson River Railroad Company from time to time think
necessary security, development and opcrSn Of the
property leased.
FOURTH-That the capital STOCK OF the rcorganzcd con-
papy the NewYor k and ud
River Railroad Company consideration for its lease
and guarantee.
FIFrH-That the leasei property shall be delivered prior
TO Jan. l. 1886.
We therefore Offer the first bondhocrs VI the
West Shore Company the opportunity avail themselves Of
with the New York tyef
Railroad Company upon the follow .ng conditions;
FIRSTThat their bonds s.a b. deposited with us win
positors.
SECOND That at least majority OF the whole shall
be deposited.
Pending the deposit Of such majority temporary receipts
will be given for the bonds After majority snai have
been secured temporary receipts exchanged i
engraved receipts negotiable In coun.ersgued ny cs
Union Trust Company In whose 0ond, VIII To
main until required by FOR tho purposes OF reorsa'
zaon.
In case majority shall NOT be secured and reos"n'
zacn perfected within the required under tue con~N
with the Newly DIRK Centr,l ami Hudson River hau'o4D
Compny Tho bouds Will DO rcturaei free o. expense "''
ircuder Of the receipts duty assigned. -
Its right that should aid that worry large pr'po'
Of the bonds required havs alscaiy sssensed 70 inc pP
plan Upon receiving the assent amsjody IN snoans
the present West shore bonds immediate steps wiz 10 ~
which, We arc advised. will secure prompt rso'sa"s
and prevent further depreciation and was" W Wv
| property .v,css
The right is 10 formulate 1t any tine 're
| Of accepting the otter hereby ual@
nDCVCT MARIAN 4 COA