New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-08-24
nEw-YoRK, WEST SHORE AND BUFFALO
RAILWAY COMPANY;

convinced that the interests Of the NswYor Cen
trail and Hudson River Railroad Company and Of the bond
holders Of the NewYorh West Shore and Buffalo Railway
Company would be promoted by the former company
curing lease Of the railroad of the latter company and work
ing sch railroad In harmony with lis system, we
opened negotiations % secure this result
Thcse negotiations have reached point at which
prepared 10 lap the following before The bondholders
West Shore Company order that each Of them
who now elect sha have equal opportunity 10 share
with the benent Of hereinafter mentioned and
tho view aso Of promoting unanimty and speedy
termination Of pending dihicultss.
TIE newfork Central aud Hudson River Railroad COM
pany hss ereeutcd contract with agreeing upon
sanixaton OF the NewYork West Shore and Buffalo Rail-
way Company Quake pOssesasn Of tho property Of tho
organised company under iess and guarantee tho pn
cpa and interest Of bonds hereinafter mentioned which
TO be secured BY mortgage upon that property.
The conditions Of the contract foTlowsi
FIRsrTa, tho securities 10 DO Issued by the reorgan,seu
Company shan be limited
-Four per cont Mortgage Bonds and 900
Capital Stock the bonds to be dated January 1884, and 10
al the expiration OF the Lease say In 476
upon default In payment Of interest two consecutive
years.
sECoND-Thatof tho Mortgage Bonds. s25. coo, 600
Shall be offered in exchanse for the-----. 50,00O66o
Mortgage Bonds OF the present Company with due
coupons sttaehdha to 1000 Of the new guaranteed
bonds for s., 900 OF the OLD
THIRD-That tho remsining SIS 1000 except sucn
amount be necessary for Reorganization shall be
Hudson River Railroad Company provide prior liens.
termna and such ohsr property and for suo
purposes The Directors OF Contra ana
Hudson River Railroad Company may from time to tino think
for tho security development and operation Of thu
property leased
FoURTH-That tho capital stock OF the reorFenzed
pany shall be surrendered Central and Hud.
River Railroad Company Consideration for Its lease
and guarantee.
FPTHThst the leased property shall be delivered prior
10 Jan. ]. 1884,
We therefore offer 70 the fs mortgage bondhodors OF tne
west shors Company tho opportunity avail themselves Of
agreement with the New York Central and Hudson Hver
Rsilroad Company upon the following eonditi0nsi
FIRsT-rnaf their shah Deposited with with
the agreement hereto attached duly erseused BIZ tho do
postoFs
sEcoND-Inat least majority Of Whols shai
be deposited
Pending the deposit OF such majority temporary receipts
win Do given for the boads After majority snal have
scared temporary receipts will be exchanged fog
engraved recopts negotiable In forms oOuntersgned By the
Union Trust npany IN whose custody tue oonds viii
unri required BY for the Of reorxant
zstion.
In majority shall not be secured and reorypa-
ration perfected within the time required under Tho contract
with Nsv.York Central and Hudson River Railroad
Company the bonds VIII be returned foo Of expense upon
surIcader Of the receipts duly assigned.
a. night that should aid that a very large proportion
bonds required have already Aensed 70 the proposed
plan Upon receiving the assent o. majority in amount OF
the present wc shore bonds immediate steps viii DO taken
vhlch advised will prompt Organization
and prevent further depreciation and vuste VI the
proprriy.
The night Terminate any time the privilege
Of accepting the o1cr hereby made