Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1886-11-23
THE DANVILLE DEAL
LATEST ABOUT THE SALE OF STOCK
ToPACE, LOGAN, AND OTHERS.
The Company Make sil.000,000 Mort
gage in Order to Consolidate
Their Bonded Debt, &C., &c.

| chase. on Thursday last. oi u majority o.
| The stock Of the D1nyille Company, r.
turned to his home here from New Y0rk
| yesterday morning. lie Is represented As
being well satisfied with the situation.
Colonel \. {. Buford. president OF the
company. left here for New York ,hst
night. and to-day will have a conference
with some Of the new owners. IL j. not
certain that Colonel Buford will be- re-
tanned in the presidency, but the value OF
his services seem to be 20 well appreciated
that n ere /, little doubt he will be offered
some place Of consequence in tie re0rgani-
zation. Colonel Buiord u on terms OF
friendship with Nr. Pace aud General
Logan. and is also well known tOand high.
| ly esteemed by several Of their Influential
associates in this enterpri'c.
The prospects are bright for a removal oi
the Offices OF the company back from
Washington to Richmond. but it may take
several months To make the change.
The Richmond Ockh0ldcr- in the Rich
| mond and DanYlle are: +. N. Logan.
! James II. Doolev, j. b. Pace, and l.. d.
| Christian. General Logan and Msior
| Doolcy began 10 work mp tue scheme quietly
last March to get control Of the great SOUTH
eTn system. The Dan,iIle stock was then
selling at about 20 per >hare.
II Is stated now by those in position to
| know that the Standard-Oil people are not
| In the rev syndicate to a yery great extent.
and ihst the road Hil certainly be managed
| by General Logan aud hl, associates in TIE
| interest Of Virginia. and not IN the interest
| Of Wall street. That much has been agreed
upon officially. Formerly the Terminal
- i II. nnt O.,
! Coupany. Hereafter. under Pace, Logan
| a Co.. the Terminal Company viii control
! the Danyile, and through IL a,l OF IL lea'c'
holds.
ELEVEN.MII ITON.DOTLAR MORTGAGE.
Tounify their debt and Otherwise advance
| their interests, the Richmond aud DanyiIe
railroad have put Cpon record a mortgage
deed conveying their property and lease.
| hods to the Central Trust COmu1ny. oi
! New York, TO secure the payment OF SILL
| 900, 900 Of per cent. bond.. which thry
propose 10 issue in lieu OF bonds Oui stand
lng. This courSe the company have lonS
meditated, and the al" OF a mniortg 0f
stock on Thursday last did not change their
purpose. The deed l. as follows. and the
lax on it was S1l,OO0:
Tie RiClmo1,d and DqarHe Railr0dd C0a-
pdpg 10 Centrdl Trust C0mpdnyOf y T
fork CoHSObddted WOrtqage:
An indcnture was made on the 22d day Il
October. in the year 1856, between the
Richmond and Dlnylle Railroad CompaHf
and the Central Trust Company Of NcN
York A. trustee, party Of the second part.
/ be deed reads 20, follows:
That whereas the said she Richmond and
Dqnylle Railroad Compsny. on the jtn
a Il
cred 10 I.aac Davenport, Jr., and George
| b. Rolcri, ~ trustees. IL certain mortgage
! deed of trust u that date. thereby convey
| inr 10 ,aid trustees the man nI1nch an
| leased line. oi railroad. real and personal
property. right. Interests, and estates, 10
secure the piyment II the principal and
| interest of lis bonds. and payable in gold
| .Januaiy l., 1918, 10 an aggregate amount not
exceeding six million dollars, with intcrcs'
! at the rate OF per ceatum per anuum
! payable ecm-annuaiy, and all Of which
aid bonds have been issued and arC 0Ct'
| standing: and whereas the said Rich
/ mCuG ana Dinyiiic RaIlroa Company did.
1 on the 1t day Ot February. \. y. io'-
/ execute and deliver 70 The trutr'l FRS
/ Company Oi New York. 0, trustees i,, c'.-
tain Wort.pCC deeds Of trust %! that dli"
ccnyeyine 20 aid trustee ,Ic main lTI.cs
and lCased line, o. railroad, real and pei
.ou1l yroIcrty, rights. Interests and e>tli.-
therein described to secure The prlncl ll
! and interest q il de- tuture bonds. 2ul
PAYABLE f0r;y-tyc year al;cr said dile t.
ticaegrc- ate amount Of four miliinu doi-
lai.. " ith interest q not ,Xrct dug the rat"
of per ctuium pr aunu.n, payable out oi
tie hcf earning, II tbo company in On.
manner provided IN >aid decd oi Trust. ana
ali u Naich sad BONDS have been issued
ard aye outstanding; and whereas the ip-
t,Ie,;, of the Richmond and Ddnyille Rail-
road COMPANY will bc promoted 10y pr
y,dma for the retirement Of both of the
aforesaid issues II bonds aud the cJn,OH-
dat.on OF t. bonded indebtedness, by an
issue 81 bonds payable IN gold With
nXedraie Of interest payable >rlni-lulGalit
aud uf Uniform time of maturity and di-.
I ritv OF hen. and at the same time proyidlu.
ior an additional means needed by ~
ccInmny; aud UhCTcI. the Richmon
and Danyiic Railroad Company ha, GA
pies charter "to purchase aud hold or %
ausrantcc the bonds or stocks or b. lcl1
aid to other railroads or transportation
lir., chartered ly :hc Laws of North caro-
lima or any stale other tam Virginia ';
and whereas by virtue Of said charter
ComLany ha> acquired hrgc interest, ia
the bonds and stocks of railroads In NOrif
Carolina and other >rale- forming parts oi
il. leased. owned, and operated system oi
railroads, AID may hereafter acquire other
and further Interests OF the same na.
ture: and whereas in TIE exercise OF lt,
charter power and authority the Richmond
and Danvillc Railroad Company hl>
become, and j. liable guJrantor II tn
trst mortgs.c bonds of the NoNhwc>tcrn
North Carolina Railroad Company, ISSUED
urdc. mortgage deed Of trust 70 II. J..
Mar,hal and J.. \. Bo,her, trustees, dated
October -, 1872, % the amount OF five hun
drtd thousand dollar; and whereas IN
view of The premises the Board " Dire ;tOr
OF the Richmond and DanIiIlc Railroad
Compruy. al a mectin. held on the 2ls, o.
tobor, 1856. determined TO issue coupon
bonds II the company 20 be denomi-
mated consolidated mortgage gold bonds.
each Tor the sum OF Sl,O0J or E2Ol.
dated .hc first day Of October,
1856. ,igned by the president and counter.
signed by the secretary, payable nifty yclr.
after date in gold of sterling money Of
Great Britain, with interest not exceeding
) Per centum per annum, payable sent
annually on the first days OF April and De.
tobcr, with privilege Of registration at the
option OF the bolCer, and that 10 secure th'
PAYMENT of the principal aud interest The
president was authorized and directed T.
duly execute and deliver N the name OF TIE
comIany mortgage deed Of trust I"
the Genital Trust Company Of New
York, n trustee for the holders OF -ald
bonds, conveying all the main branch and
leased lines. real and personal property
rights. interests, and estate OF the company
And the Board Of Directors de-
iermlned that the consolidated mOrtgl-t
gold bonds should De limited tO an issue %
eleven million, two hundred and twenty
thousand dollars OF bonds. to be securer
and retained by the trustee for the purpo'r
OF taking sup, rrfundng, EXCHANGING, Oh
providing for the psymen, OF the pre>en
aboye-recited bonded Indebtedness and Ia
biity Of the siE million dollars OF o pci
cent. gold bonds, Al q OF The four milton
GOiiarS OF dehenture bonds, ana IN
paid interest thereon, and the i've hundfed
thousand dollars of first mortgage guardB-
teed Northwestern North tnOl.n1 Riil-
road Company bonds, and thereafter 10 40
amount not TO exceed the sum of SlJpOj
per mile Of railroad now or hereafter
owned, leased, operated, or controlled BY
the Richmond and Danville Railroad Com
pany bearing interest not EXCEEDING per
c6ntum per annum, a. the Board OF Direct
oIs may determine TO be issued from time
TO time in corresponding accounts TO ana
only a. and where morigagc bonds 0i
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