Morning journal and courier., 1885-08-20
New York, West Shore and Buffalo
 Railway Company.

Being convinced that the interests of the New York Central and Hudson River Railroad Company and of the bondholders of the New York, West Shore and Buffalo Railway Company would be best of the railroad of the latter company and workng such railroad in harmony with it's own system we opened negotiations to secure this result
 These negotiations have reached point at which we are prepared to lay the following proposal be- fore the bondholders of the West Shore Company, in order that each of them who may now so elect shall have equal opportunity to share with us the benefit of our contract hereinafter mentioned, and with the view also of promoting unanim1ty and a speedy termination of pending difficulties.
 The New York Central and Hudson River Rail road Company has executed contract with us agreeing, upon reorganization of the New York, West Shore and Buffalo Railway Company, to take possession of the property of the reorganized com pany. under lease, and to guarantee the princi- pal and interest of the bonds hereinafter men toned which are to be secured by mortgage upon that property.
 The conditions of the contract are as follows:
 FIRSTLThat the securities to be issued by the reorganized company shall be limited to
 ............-.-...-....... 8 6Os sOOOsOOO Four per cent mortgage bonds and 1O,OOO,OOO Capital Stock, the bonds to be dated January 1, 1SS6 and to mature at the expiration of the lease, say in 475 years upon default in payment of in terest for two consecutive years. SECOND-That of the mortgage
 bonds. s.........................-.$ $2 100000 Shall be offered in exchange for the 50, ,OOO.OOO First mortgage bonds of the present company with
 past due coupons attached-that is to say 00G of the new guaranteed bonds for &, 900 of the old THIRD-That the remaining $25, 900, except such amount as may be necessary for reorganiza
 ton shall not be issued except at the request Of the New York Central and Hudson River Railroad Company, to provide for prior liens, necessary \ terminals, and such other property and for such | other purposes as the Directors of the New Yori | Central and Hudson River Railroad Company may
 from time to time think necessary for the security development, and operation of the property leased FOURTH-That the capital stock of the reorga l nized company shall be surrendered to the New York Central and Hudson River Railroad Company as a consideration for it's lease and guarantee. | FIFTH-That the leased property shall be de | livered prior to January 1, 1886. We therefore offer to the first mortgage bond | holders of the West Shore Company the opportuni l ty to avail themselves of our agreement with thu l New York Central and Hudson River Railroad | Company upon the blowing conditions: FIRST-That their bonds shall be deposited witl | us with the agreement hereto attached duly exc cuted by the depestors.
 | SECOND-That at least majority of the who'll | issue shall be deposited.
 Pending the deposit of such majority temporar. | receipts will be given for the bonds After a ma jority shall have been secured temporary receipt | will be exchanged for engraved receipts negotia | bic in forms countersigned by the Union Trls Company, in whose custody the bonds will remai
 until required by for purposes of reorganization
 In case majority shall not be secured and a T
 organization perfected within the time require | under the contract with the New York Central an l Hudson River Railroad Company the bonds will
 returned free of expense upon surrender of the Tt | ceipts duly assigned.
 1 It is right that should add that a very larg | proportion of the bonds required have already a
 sented to the proposed plan. Upon receiving tf
 assent of majority in amount of the present We
 Shore bonds immediate steps will be taken whicl l we are advised, will secure prompt reorganizatio | and prevent further depreciation and waste of u | property.
 The right is reserved to terminate at any time u l privilege of accepting the offer hereby made.