New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-12-02
flnanrial.
Reorganization
Of the
AMERICAN
COTTON OIL TRUST.

Under the plan adorted Mt a meeting of certificate
holders held this day. and which has received the In
dersement Of holders of over our-hihs oil the ense
ISSUE IL IL proposed that the Trust and the property
and assets thereof be merged or Incorporated
Into the
AMERICAN COTTON OIL COMPANY,
corporation organized and existing under the Laws
othe state Of NewJcrscy or that such Trust certn.
cnfes be exchanged transferred Tor shares oil "aid
company or otherwise, as tbs Reorganization Com
mlttee may deem judcious upon the following general
basis,
AMERICAN COTTON OIL COMPANY 20 issue Com.
mon Stock to the amount Of and per cent
noncnmulave Preferred Stock redeemable at lob per
cent and secured by the shares OF all companies received
on such merger acquisition or by property or trust GER
thcates may determined by the committee ana I'm
tied to 900 In amount Of which s4454OOo Tor any
balance In OF the amount required on the eAchahB
70 be held used and disposed OF by the Directors oF e
purposes Of the company AL stock entitled to like voting
power.
The Trust Certificates to be exchanged for such new
shares In the following proportion. viz.
For each share OF Trust Certificates so per cent thereof In
such new Common Stock................ S@l'os%'ooo
And % per cent thereof In such new Pre-
ferrcd Stock. IOofo,UVV
Holders Of AMERICAN COTTON OIL TRUST Certin-
Gates are invited to deposit the same with the
CENTRAL TRUsT COMPANY OF NETWORK
ON OR BEFORE NOVEMBER 90. 1889.
and receive engraved certificates OF deposit therefor under
the agreement OF reorganization.
The ENGRAVED CERTIFICATES Of the CENTRAL
TRUST COMPANY are now BEING ISSUED and have
been LISTED the STOCK EXCHANGE in same man
ner as the certificates of the American Cotton OIL Trust
FREDERIC p. OLCOTT,
Chairman.
SAMUEL THOMAS,
EDWARD ID. ADAMS,
JAMES II. BENEDICT,
WILLIAM l.. BULL,
NICHOLAS SHELDON,
REORGANIZATION COMMITTEE
NETWORK. Nov. 0. 1889.
At a meeting Of the REORGANIZATION COM
MITTEE this day held, the following resolution
was unanimously adopted
"REsOLvED Tint the time for the deposit OF
AMERICAN COTTON oil TRUST CERTIFICATES,
under the Reorganization Agreement, be aud IL
hereby extended TO and including DECEMBER =,
1850, and that deposits heretofore and hereafter
made may be Withdrawn prior 10 that date, Mt the
option of depo.ifors.
And the Committee declares its purpose TO abandon
the PLAN OF REORGANIZATION under the powers
reserved to It by the agreement If by snid date an
amount be not 30 deposited sufficient In their iudg-
ment, to execute the purposes OF the Agreement
JAMES II. BENEDICT, Secretary.
Dated NETWORK, Nov. 10. 1885,
ArA MEETING OF THE REORGANIZATION COM
MITTEE. THIS DAY HELD THE FOLLOWING
RESOLUTION WAS UNANIMOUSLY ADOPTED
WHEREAS MORE, THAN MAJORITY OF THE
CERTIFICATES OF THE AMERICAN COTTON OIL
TRUST ARE NOW ON DEPOSIT WITH THE CEN
TRIAL TRUST COMPANY, UNDER THE AGREE'
MENT OF REORGA NIzATION,
" RESOLVED THAT AFTER DECEMBER 9. 1889.
CERTIFICATES NOT so DEPOSITED (oR IN
TRANsIp WILL ONLY BE RECEIVED SUBJECT
TO THE PAYMENT OF SUCH PENALTY As MAY
BE FIXED BY THE COMMITTEE"
JAMES H. BENEDICT. Secretary.
Dated NETWORK. Nov. o. 1889.