New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-07-30
nEw-YORK, WEST SHORE AND BUFFALO
RAIL WAY COMPANY:

Pc,ng convinced that the interests of the NewYork
trail and Railroad Company and OF the bond
holders OF the NewYork West Shore and Buffalo Railway
Company be promoted by the former company Sc
curng of the latter and work.
ing such railroad in harmony with It's own system we
opened negotiations to secure this result.
These negotiations reached point at which we are
prepa following proposal before the bondhoders
OF the Company order that each OF them
who may shall have equal opportunity to share
with benefit Of hereinafter mentioned and
with the view also Of promoting unanimy and speedy
termna ton OF pcno in difficulties.
Now ork Central and Hudson River Railroad CON-
pany with reeine, reor
ganization the York West shore AMI Buffalo Rail-
Company take possession of the property OF the re-
organized under lease and 20 guarantee the pm
cpa interest OF the bonds hereinafter mentioned which
to be secured by mortgage upon that property.
The conditions OF the contract follows:
FIRsTThat the securities be Issued by the reorganizd
Company hail be limited SJO.OOOOOO
-Four per cent MORTGAGE Bonds and 10000 coo
Capital Stock the bonls to be dated January 1885, and to
ma nc expiration OF the lease say in 40 years
upon default In payment of interest for two consecutive
years.
sECOND-Thatof the Mortgage Bonds s25, 900 600
Shall ed exchange for the 5O,O0OO00
First Mortgage present Company with due
coupons atached-ihl 900 OF the new guaranteed
bonds 81. 900 OF the old.
THIRD-That tho remaining s25, 10000. except such
he for reorganization shall not be
except the request OF the New ork Central and
terminals and such other property and for such
purposes the Directors OF the NewYorK Contra and
Railroad Company may from time to time think
necessary the security development and operation OF tho
property leased.
FOURTd-That the capital stock the reorganized COM
psny shall tie NevYork Central aud Hud
son airo Company consideration for its Lease
AMI guarantee.
FIFTH-Tha property shall be delivered prior
20 Jan. !. 1886
therefore Offer the first MORTGAGE bondholiers Of tho
Company the opportunity avail themselves o.
agreement New FORK Central and hudson River
Railroad Company The following conditions
FIRST-That Their snail b. deposited wi with
agreement hereto attached duly executed by the de-
postors.
sECOND-That least majority OF the whole ISSUE shall
he deposited.
Pending deposit OF majority temporary receipts
will given for the bonds After majority snail have
secured temporary receipts will b. exchanged FOR
engraved receipts negotiable countcrsgned By the
Trust Company. In whose custody the oonds viii re-
main required by Tor the purposes OF reorGani
zation.
In case a majority shall and reorgani
zation perfected required the contract
with New-York Ccntral and Hudson Riyor Railroad
Conpiny TIE bonds will returned free OF expense upon
surrender OF the receipts duly assigned.
ght should AID that large proportion
required have ALREADY assened 10 the proposed
pan Upon receiving the assent Of majority IN AMOUNT OF
the present shore immediate steps Will be taken
which, we advised will prompt reorganization
and prevent further depreciation and waste OF the
property.
The night time the privilege
o, accepting the oGer hereby male.