New-York tribune., 1885-08-10
MEw-YoaK, WEST SHORE AND BUFFALO
RAILWAY COMPANY:

Rc-g convinced that the interests OF the NewYork Cen
ta and Hudson River Raroad Company and OF the bond
holders OF the NewYors West Shore and Buffalo Railway
Company would be former company
curing lease Of the railroad OF the latter company and work
ing snch railroad In harmony with its system
opened Degotatlons TO this result
These negotiations have reached point at which arc
prepared to ay the before the bondhocrs
Of the shore Company of them
who elect shall have equal opportunity share
with the benefit Of hereinafter mentioned and
with the view also Of promoting unsniny and speedy
termination of pentin g diffculies
The New-York Central and Hudson River Railroad Com
pany has executed contract with Tesing reor'
ganzaon OF the New.Y York west shore snl Buffalo Rail.
Company totaks possession of the property of tho
Organized company under lease ond 70 guarantee the pn
cpal and interest OF the bonds hereinafter mentioned which
are to be secured by mortgage upon that property.
The conditions Of the contract followsi
FRsTIbas the securities to bs issued by the rcorgansd
Company shall bo limited 70. 900 600
Four per Mortgage Bonds and 10 100000
Capital Stock the bonds to be dated January 1850 and to
the expiration Of the lease say ATS years
upon default In payment of interest for two consecutive
years
SECOND -Thstof the Mortgage Bends 2J 900 900
Shall be ore cd in exchange for 5O,oOO,Oo0
First Mortgage Bonds the present Company with duo
coupons atachedihatsb t. $1,000 Of tue new guaranteed
bonds for 81. 900 OF tho old
THIRD-That the remaining s25.00U.000, except snch
amount be for shs not be
issued except the request OF the NewYork Central and
Hrdon River Railroad Company 10 provide for prior cn3
terminals and such ohor property and for such
purposes the Directors OF and
Hudson River Railroad Company may from me 10 think
for the secay development and operation OF the
property leased.
FoURrH-That the capital stock Of the reorgan,zsd
pany shall be surrendered to tho Newly ork Central aud
Eiver Railroad Company eonsderaon for Its
aud guarantee.
f1FTHTha, tho elsoi property shall bs delivered prior
to Jan /. 1885.
therefore offer TO the Of ire
West Shore Company tho opportunity avail themselves OF
agreement with the sevYok Central and hudson River
Railroad Company upon the following conditions,
FIRsT-That their shall be deposited with with
agreement hereto attached duly executed By tho do
posItors
sEcoND-That majority OF the whole issue shall
be deposited.
Pending the deposit Of such majority temporary receipts
will he given for the bonds After majority snail have
been secured temporary receipts will b, exchanged for
engraved receipts negotiable form, countcrsgnsd by the
Union Trust Company In whose custody the bonds Will
until required by Tor tho purposes Of reorGan
zation.
In case majority shall not be secured and rcorzani
zaon perfected within the required under the contract
with tDs New-York Central ami Hudson River Railroad
Company bonds will be returned FREQ OF
surrender Of the receipts duly assigned.
ryht that should add that very largo proportion
required already assentod TO the proposed
pan Upon receiving the assent Of majority IN amount OF
present bonds mmedistr steps will be taken
and prevent further depreciation and waste OF tho
property.
Tho night any tho privilege
a. s.o~ ~e.r ha~. .f.uu