New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-08-05
5indmr'al.
ST. 1SwArLss. HswYoRK. July rs, tss
TO THE FIRST MORTGAGES BoxoHoLpsns on
THE
HEw-YoRK, WEST SHORE AND BUFFALO
RAILWAY COMPANY:

Being convinced that the interests Of the HewYct Cd
tr and Hudson River Railroad Company and The bon
holders OF the Hew-York West Shore Buffalo R.uvsa
Company would be best by the former ~
curing lease Of the railroad of the company ana vot
ing such railroad in harmony with its own systsm. vr
opened negotiations to secure this result
These negotiations hare reached point at vbch "a .,S
prepared TO ley the propoeal before the
Of the West Shore Copsnv In order each enc al then
who may now 50 elect equal opportunity 70 shar1
with tho benefit OF mt,onc .nd
With the view also II promoting unanmty and speeds
termination of pencing difficulties
The New-York Central Hudson River Railroad CONF
pany has executed contract with agreon upon reors
ganizaton OF The New. Buffalo Rail-
way Company tOtake possession Of the property OF the ~
organized COMPANY under lease and priu1
cpa and interest Of the bonds mentioned WHICH
are to be secured by mortgage upon that property.
The conditions Of the contract y follows:
FIRsT-Tha the securities {, be Issued By tie reorganis
Cmpany shall be limited go OO0
-Four per cent Mortgage Bonds and minimum. 1OOoO Goa
Capital Stock the bonds 10 he dated Jspua 1884, to
nature the expiration OF the Lease yeara On
upon default In payment Of interest for two cosccuS
years
sECoND-Thatof the Mortgage Bonds s25 900 GOD
Shall DO o@sTed In exchange for 50,eOOOOO
FIRST Mortgage Bonds the present Company past due
attached-thatis say guaranteed
bonds for 81. 900 Of tho OLD.
THRD-That the remaining s250eoooo, except such
amount be for reorganization shall be-
issued except at the Of the NewYork and
Iudson River Railroad Company provide prior en
necessary terminals and such other property and f such
other purposes the Directors OF the and
Hudson River Railroad Company may from thnh
for the security development and operation Of the
property leased
FOURTHThat the capital stock OF the reOrssnzed comi
shall be Newly oFk Central and Hud
kiver Rxro ID Company consideration for s lease
ond guarantees.
FIFrH-yhat property shall DO delivered prior
to Jon. l. 1ssG
We therefore offer rst mortgage bondhcders the
10
agreement With the ok Central and Hudson yer
Railroad Company upon tire following conditions.
FIRsT-Tha their shall be deposited with o. With
positors-
sEcoND-Tha ct least majority OF the whole issue shaI
be deposited
Pending the deposit of such majority temporary receipts
viii be given for the bonds After majority snail have
been secured temporary receipts will exchanged for
Engraved receipts negotiable In forms by the
Union Trust Company. In whose custody sons will re-
main until required by purposes Of rcorgan.
IN majority shall not be secured and Q rcorganH
cation perfected within the required under the contracd
with New.York Central and Hudson Riyer Railroad
Company the bonds will be returned free OF expense upon
surrender Of the recep;s duly assigned.
It'll night that should AID chat very large proporon
Of bonds required already assentd the proposed
pian Upon receiving the Of majority amount Of
present shore Immediate sePs will b
which, advised will prompt Reorganization
and prevent further depreciation and waste Of TIE
property.
The right any time the privilege
OF accepting the offer hereby made.