New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-08-23
- - wAELsr.. HEw.YolR ysiy n -
TO THE FIRST MORTGAGE BoEDzoLpERs On
THE
REw-y0RK, WEST SHORE AND BUFFALO
RAILWAY COMPANY;

Beng convinced that the interests Of tho NswYort c.
ral and Hudson River Railroad Company tie b,I
holders of the Nsw-York, west shore and Buffalo Rafv
Company would be best promoted By the former
curing of tho latter company worl
ing snch railroad in harmony with its system VI
opened negotiations 10 secure this result
These negotiations point which 70 Ar
prepared lay tho following proposa before the bondhods2
Of the West Shore COMPANY IN order tst each e
who may elect shall have equal opportunity 70 sAsrS
with beoc6t Of hereinafter mentioned "a
with the view also Of prvmotng unanimity and pesds
termination Of pending dihculties.
The Neyyork Central and Hudson River Railroad Con.
pany executed contract with nr upon reo
ganEation OF tho NewYork West shore and Buffalo Rail-
Company to take possession OF the property OF We ~
organized company under caso and 10 the prn
cipai of the bonds hercnAtsr mentioned which
TO be secured BY mortgage upon that property.
The conditions Of the contract are ~ follewss
FIRsrThas the securities II be ssusd BY TIE reoreansQ
Company sLsu be limited ts..-..-...-...sJo.0Be 000
Four per cent Mortgage Bonds and. 1O0OOOoN
CAPITAL Stock the bonds 10 DO dated January 1885,
the expiration OF tbs lease IN <75 years. q
upon default Ia payment OF interest for two consecutive
yeara
sEcoNDThatof the Mortgage Boads 925 0O0, O0e
Shall be ocsred In exchange for the zoe
First Mortgage Bonds tho present Company with
coupons attachedhat u say $1,000 Of tue now guaranteed
bonds for So, 900 OF the old.
THIRD-That the remaining e2500O.000. except such
may necessary sanizston shall b
issued the request Of the NewYork cenr and
Hudson River Raroad Company provide tor prior aa
necessary terminals and such other property and for suo
Other purposes the Directors OF the NewYorx cepsa a.s
Hudson River Railroad Company may from time to thiuh
necessary the security development and operation u
property leased
FoURrH-That capital stock a the rcorsanized con
pany shall surrendered the NevYosk Central Hua
Railroad Company consideration for its
and guarantee
r1FrH-Thss the leased property shan bs delivered poe
to Jan. !. 1884
We oer rse mortgage bondholders hs
Shore Company the opportunity 10 avail themselves a
our agreement with the New York Central and Huson v
Railroad Company upon the following conditions
PIRsT-That their shall be doposlted ~ win
the agreement hereto attached duly executed d
postors-
sECoND-That as least majority Of the whole issue shan
bc deposited
Pending deposit Of snch majority temporary rscepto
win be given for the bonds After majority snail have
been secured temporary receipts VIII b exchanged TO-
engraved reoepta negotiable 10 forms ocuntersgDed By ne
Union Company whose custody the ponds Wi NJ
main until required By fox che purposes Of
cation
In q majority shalt not be occurred and reoss..
ration perfected within the required under tho
with the NewYork Central and Hudson River Rsrosl
Company The DO returned free Of expense upsa
surrender of the receipts duly assigned
II is right should aid that very largo proporos
required already sssentsd TO the proposed
Cpon receiving the Of majority In amount %
the present West shore bonds immediate steps will DO k
which, advised will prompt rsorssnisao1
property.
The RIGHT terminate time tho privilege
OF accepting the oaer hereby male.