New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-08-18

20 wALLsr. NEw.YosK, August II, 1884.
HAVING RECEIVED the assent Of more
than q majority Of the ss0000.0O0 First Mortgage
Bonds Of the New-York, West and Bufso Railway
Co. to the plan Of and contained In
circular OF July 25 1885, hereby give noce that sha
terminate ct the close Of business Tuesday August 25
the privilege Of accepting the offer therein made Foreign
holders deposit bonds up that dae with Messrs.
Morgan Co. Ia london Temporary receipts will be exa
changed for eayraved receipts OF $1,000 and
$4,000 EACH upon presentation at ONCE and aftsf
August 26.
DREXEL, MORGAN g. CO.
&wAILsr. NEw.Yoax. ymygs lssa
TO THE FIRST MORTGAGE soNpaoLDERs or
NEw-Y0RK, WEST SHORE AND BUFFALO
RAILWAY COMPANY;
DREXEL, MORGAN & CO

renr convinced that the interests Of the NsYork cen
trail and Hudson River Railroad Company ana OF the bond
holders Of the NewYcrk, West Shore and Buffalo RafwsY
would be promoted by the former
caring lease Of the Of company and work
ing such railroad In system, We
opened negoations to secure this result
These negotiations have reached point at which
prepared lay the following proposal before the bondhodrs
of tho West Shore compan order that OF them
who elect shall have equal opportunity to share
with tho benefit Of hereinafter mentioned and
with the view also Of promoting unanimity and speedy
termination Of peus In difficulties.
The New-york Central Hudson River Railroad Com
pauy executed contract with agreeing. reof
ganzaon of tie Newfork West shore anil Buffalo Rail-
Company to take Of the property OF the
organized mpany under lease and 20 the prin
cpa and interest Of the bonds hereinafter mentioned which
are TO be secured by morts upon that property.
The condit ons of the contract follows,
FIRsTTba the securities ~ be issued BY tho reorgsnissa
Company shall DO limited .0OO. QUO
-Four per cent MORTGAGE Bonds 100000
Capital Stock bonds be dated January 1856 and to
the expiration lease say In 475 years.
default in payment Of interest for two consecutive
years
sEooND-Thatof the Mortgage Bonds 90 600 900
Shall be o, ed exchange for the. 5O0O0,600
First Mortgage Bonds the Company with due
coupons sttsebed-h $1,000 Of tue guaranteed
bonds FOR $1,000 OF the old.
THIRD-That the remaining s25.ooO.0oo, ercept such
for reorganization shall b
request tho ork Central ana
Hud River Railroad Company to provids tor prior ens
property
other purposes Directors OF the NewYoK Contra ana
Hudson River Railroad Company from me to time think
necessary the security development and operation Of ths
property leased
FoURTH-That the capital reorgsnizcd com
pany shall NewYork Central and Hud.
River Railroad Company consideration for lite lease
aud guarantee.
fIFTH-That the leased property prsos
TO Jan !. 1885.
We therefore bondholdcrs OF
West Shore Company the opportunity TO avail themselves Of
agreement with the New York Central and Hudson
Railroad Company upon the following conditions:
FIRsT-That their sail be deposited with with
the agreement hereto attached duly executed By the de-
positors
sECoND-That majority OF the whole shall
be deposited.
Pending the deposit Of such majority temporary receipts
will be Owen the bonfs After majority s'ali havo
secured Temporary receipts will DO exchanged for
engraved receipts negotiable in countersgned By the
Union Trust Company whose custody the ooads will
until required By for the purposes Of reorgsnt
zation.
a majority shall not be secured and
perfected within the required under the CONTRACT
with Central and Hudson River Railroad
Company tho bonds viii returnea free o;
surrender OF the receipts duly assigned.
rlght should aid that very proportioa
OF TIE required already proposed
plan Upon receiving of a majority amount Of
the present shore immediate steps viii DO taken
which we advised, will prompt reorganization
and prevent further depreciation and waste Of tho
property.
The right terminate any time the privileges
OF accepting the oaer hereby made.