New-York tribune., 1885-08-14
NEW-Y0RK, WEST SHORE AND BUFFALO
RAILWAY COMPANY;

Bcas convinced interests Of the usw.Yox Cen
tral and Hudson River Railroad Company
holders Of the NewYork, West Shore and Buffalo Railway
Company would be promoted by former
curing lease Of the railroad Of the latter company and work.
ing such ra.rcad In harmony with its system, We
| opened negotiations this result
These negotiations have reached point which
prepared following proposal before the bondhodsrs
of the West Shore Cnpany In order that each Of them
who elect shall equal opportunity share
with the benefit Of hereinafter mentioned and
with the view also of promoting unanimity and
termination of pendip diffcutiee.
The New-York Ccrtra and Hudson River Railroad Com
pany has executed contract with agreeing upon
ganization OF the New West shore Buffalo Rail.
Company. to ake Of the property the
organized company under and guarantee prin
cipa and interest Of the bonds hereinafter mentioned which
are to be secured BY mortgage upon that property.
The conditions Of the contract folowss
FIRsTThat the securities q be issued he reorganiseu
Company shall be limited to. O0O OOO
Four per Mortgage Bonds and 10 OOO 900
Capital Stock the bonds to be dated January lsse and
the expiration Of the say AIS years
default In payment Of interest for consecutive
years
sECoND-Thatof the Mortgage Bonds. S2J O00, 900
Shall be offered In exchange for the 60,OOO6OO
First Mortgage Bonds of the Company with due
Rttachedhatts 1900 the
bonds for 81. 900 Of the old.
THIRD-That the remaining So. 900 COO except such
necessary reorganization,
Issued except the request Of the NewYork Central and
Hudson River Railroad Company provide prior liens
terminals and such other and for such
purposes Directors OF NewYorK Central
Hudson River Railroad Company from time to time think
necessary security developments operation Of the
property leased
FoURTHThat the capital stock the reorganized
pany shall Newly Central and Hud
River Railroad Company consideration for its lease
aud guarantee.
FIFrH-That tho leased property shall be delivered prior
TO Jan. /. 1884,
We therefore hrss mortgage bondholders Of
West Shore Company the opportunity avail themselves Of
with the New York Central and hudson aver
Railroad Company upon the following conditions,
FIRsT-That their shall be deposited with with
agreement hereto attached duly executed by the de-
postors.
sECoNDThst least majority Of the whole shall
be deposited.
Pending the deposit Of majority temporary receipts
win be given for the bonds After majority snail have
temporary reccpts will bo exchanged for
engraved receipts negotiable forms oountersgned by tho
Union Trust Company whose custody the oonds will
until required by for the purposes Of rcorgan
ration.
In majority shall not be secured and
perfected within required under the contracs
with New-York Central and Hudson River Railroad
Company the bonds will be returned free OF expense upon
surrender Of the receipts duly assigned.
It right that should add that very large proportion
required have already assentd to tho proposed
plan Upon receiving Of majority IN amount Of
the presnt edate steps will bc taken
which, advised will secure prompt Reorganization
and prevent further depreciation and waste Of the
property.
The right terminate any time the privilege
of accepting the offer hereby made.