New-York tribune., 1885-08-12
.RExEL, MORGAN 4 co.
AwAELsR. Nsw.Yos1 NV n lsBw
10 TIE sfHyr MORTGAGE SoxpaoIpnns o.
HEW-YoRK, WEST SHORE AND BUFFALO
RAILWAY COMPANY:

Bong convinced thas the interests Of ne Nsw.YWk o
kal and Hudson River Railroad Company aal Il tts bsa1
holders Of the NswYort, West Shore asd DH,s Rsvet
Company would b best promoted By tho fgnr company
ing such railroad in harmony with ~ swn syseeA ~
opened negotiations 70 secure this result
These nssoatens have reached point - vAieh ~ ~
prepared to lay the following propos before ~
OF the West Shore COMPANY IN order tbat each e A
who shall equal opportunity 70 sAaro
with us tho bencdt Of contract hefenar usoned ~
with the Wow also Of promoting unanimt0 spee1p
termination Of pendin dlmcutiss.
The NswYork Central and Hudson River RafreaA c.
pany has executed contract with aTesins upeo
ganzation Of the NswYork west shore and BsHAs nAi
Company. 70 take Of the property Of
organized COMPANY under lesse and 70 ne D
cipai and interest Of the bonds hereinafter nsnons vhb
are to be secured BY mortgage upon that property.
The conditions Of the contract followst
FIRsTThss the securities - b. rsosganisss
Company shall bs limited .o0o. ooo
Four per cent Mortgage Bonds and 1ooUoo ooG
CAPITAL Stock the bonds to be dated January LISA and -
mature the oxprstion Of the lease ~ t7s yeara q
default In payment Of interest tor two consecutive
ycara
sEcoND-Thstof the Mortgage Bonds ooS eee,eoo
Shall be offered In exchange for tho So,ooo,ooo
First Mortgage Bonds Of the Company With due
BONDS for 81 900 Of the old.
THrRD-Thas the remaining s2s.oooooo sxcspt susa
amount be necessary for reorsanzston sha b
issued the Of the Newyork anA
Hudson River Railroad Company provide for prior ens
terminals and such other property md fe sue
other purposes tho Directors OF the NewYorK Central ssa
Hudson River Railroad Company may from time - time tnh
the security development and operation ef tAa
property leased
FoURTH-That the capital stock Of the rsoresnised eo
pany shall bo surrendered the NewYosk Central and Hu
Railroad Company sass
and guarantee.
FIFTH-Thst tho leased property shall bs delivered pnse
TO Jan. !. 1885,
offer mortgage bondhcdsry Of ne
West Company opportunity avail themsevcs %
agreement with York Central Hudson Rsvss
Railroad Company upon the following conditionss
FIRsT-That their bonds snail be deposited with "a wtk
the agreement hereto attached duly executed by sAs -
postors
sECoNDThat least majority Of tho whole shan
be deposited.
Pending deposit of such majority temporary rseeipts
will DO given for the bonds After . majority sDali have
been secured temporary receipts will b exchanged TOE
receipts negotiable in forms countersned By the
Union Trust Company in whose custody the ponds win
main until required By Tor the purposes a reorEsn
zation
In case Q majority shall DO secured and . reore.ad.
with New.York Central and Hudson River Railroad
Company will returned FREQ Of expense upoA
surrender Of the receipts duly assigned.
It is rght should add that very largo proporsioa
required already assented TO the proposed
plan Upon receiving Of majority Of
present shoro bonds edate will bs tAkca
which, We advised will prompt rsyrganxatson
and prevent further depreciation and Of TIE
property.
The right terminate any time the prvlegs
Of accepting the offer hereby made