New-York tribune., 1885-08-09
Hna,,eiaL
OwArLsr.. Nsw.rosR yuHsa ~
70 TIE yrRsr xoRroAas soHpaoLpzns o.
REw-Y0RK, WEST SHORE AND BUFFALO
RAILWAY COMPANY,

Betns convinced thss the interests II tie NewYok c
ral and Hudson River Railroad Company and TIE boah
holders Of the NswYork West shos and BuAIe Ranwut
Company would be best promstod b mo former company
curing Of the railroad Of the latter company work
ing such railroad in with iss sysem, NJ
opened negotiations secure tuts result
These negotiations reached point at which W are
prepared lay following proposa before the boudhedss
Of the West Shore Company In order that each Of em
who may elect shall have equal opportunity shars
beuent Of hereinafter menonsd ana
with the also Of promoting unaniniU and speedy
termination Of pending di1dcultae&
The NewYork Central and Hudson River Railroad Con-
pany has executed contract with sSresne upon
ganzatlon OF the NewYork West Shore and Buffalo RaN
Company torake posssssion Of the property Of The
organized company under ees and 70 guarantee the p
cpa and interest OF the bonds hereinafter mentioned which
are to be sscured BY mortgage upon that property
The conditions Of the contract are - follows;
FIRsTThss the sscures 70 b Issued BY the rsersasa
Company shall be limited TO- o5O. OOOO0
-Four per cent Mortgage Bonds and. 100OOyO0o
Capital Stock the boads to bs dated January 1Sso and
tho expiration Of tho leis say in l76 yeArA
default In payment Of interest for two consecutive
ycara
sEcoND-Thatsf the Mortssgs Bonds m cas- eco ,ooo
Shall be offered in exchzng for the. 6O0oo,Oou
First Mortgage Bonds Of the present Company with past due
coupons attschedha - sAy $1,000 u tae now gusrAass<
bonds for ~. 900 Of the old.
THIRD-That the remaining f16O0O!O0O. sxcovt such
for rsosanizssior shall b.
except the request Of the NewYork Ceatai
Hud River Railroad Company 70 provide for prior LENA
necessary terminals and such other property and for such
purposes the NewYork Contra ana
Hudson River Railroad Company may from dine T. time think
tho security development and operation Of tn
property leased.
FoURTHThat the capital stock reorsanised
shall be surrendered to the NswYek Central and Hud
son River Railroad Company ~ eonsdsraton for s ssss
aud guarantee.
FTFrH-That leased property shall delivered pros
to jan l. 1854
We therefore offer the rst mortgage Of
West Shore Company tho opportunity avail hclsovs Of
agreement with tho NewYork Central and Hudson
Railroad Company upon tho following conditions:
FIRsTThat their shall be deposted with IA with
the agreement hereto attached duly executed By the d.
pos.tora
sEcoND-That at majority Of the whole shall
be deposited.
Pending deposit majority temporary receipts
will DO given for the honda After majority spai have
been secured temporary receipts will b. exchanged foR
engraved receipts negotiable in forms countegnet By tho
Union Trust Company In whose custody the ponds will
main until required by Tor The purposes Of rsorganL
zation.
In case majority shall not bs secured and reoseani
zson perfected within tho time required under tho contract
with tBe New-York Central and Hudson River Railroad
Company the bonds will DO returned free Of expense upoa
surrender Of the receipts duly assigned.
II is rght should add that very proportion
required already Assented TO proposed
pan Upon receiving the assent Of majority in Of
present west shore bonds immediate steps will bs taken
which, advised, Will prompt reorganization
and prevent further depreciation and wsste Of TIE
property. ~
right terminate any time the privilege
Of accepting the otter hereby made.