Morning journal and courier., 1889-10-15
News by Telegraph
FROM ALL QUARTERS.
REORGANIZATION.
y, ~ ~ tinrA
s.. .'7'9- ssfe- ae.s
The Plan Adopted By The
Atchison Directors.
EMERSON'S GRAVE DESECRATED.
The Labor Conference At
Philadelphia.
new YORK STREETS IN DARKNESS.
Excitement In Chicago Over
The Bribery Conspiracy.
REORGANIZATION.

The Plan Adopted by the Directors OF
she Atkinson, Topeka & santa Fee
Four Per Cent. General MORTGAGE
Bonds For $I5O.OO0,OOO to be
Issued.
BosToN, Oct. 14-The plan of re-organiza-
ton which was adopted by the Atchison,
Topeka & Santa Fe directors at their meet
ing last week is made public in an official
circular issued to the stock and bond holders
of the company. It is proposed to issue new
100.year four per cent. general mortgage
bonds for $3.50, 000, 900 to be secured by q
mortgage covering all the property of the
company, including all the securities repre-
senting the control Of and ownership in the
necessary constituent companies and all
equipment now subject to car trust lines.
All the security of the old bonds will be pre-
served, 90 that the new bonds will have the
protection of all existing liens with the addi-
tional security of the completion and better
ment of the properties from the new capital
proposed to be raised.
The taxes and rentals added to the interest
upon that portion of the new four per cent.
bonds which it is purposed to issue at once
make up an annual fixed charge of $780,
S6O, OF less tuau @1,ooV,VuV, Hulcu AZ 'no III
rectors' opinion represents the earning
power of the system this year. There is also
designed to be issued one hundred year in
come bonds for $50, 900, 900 bearing interest
at the rate of and not exceeding 3 per cent.
per annum, non cumulative, but payable only
from and to the extent of such net earnings
as may be found after the fixed charges have
been met with and the limit of 5 per cent.
This income bond is designed to provide for
oy,oI, nS frko
bonds as 1t is found necessary in order to
bring the fixed charges of the company within
its earning power. Subscriptions are in
vited at once for $12, soc, 900 Of the new gem
eral mortgage four per cent. bonds, subscrib-
ers of $500 in cash being entitled to receive q
block consisting of 81 900 new general mort
gage tour per cents and 500 In new
income five per cent. bonds All cash pay
ments are to be made to Kidder, Peabody
and company, of Boston. Mass, and New
York. Who shall hold such money in trust,
not to be paid over to the railroad company
until it is officially announced that the plan
of re organization has been accepted and a
sufficient amount OF securities deposited to
make the reorganization effective.
Provisions for the exchange of present &C.
curities for bonds of the new issues are given
in detail, deposits to be made either with
the Union Trust company of New York, J.
w. Reinhart, Fourth Auditor, Atchison Co.
at Boston, or Barring Brothers, London. The
directors state that all interests have been
carefully considered and they believe that
the above plan will prove equitable to all
concerned. They appeal to all classes of &C.
curity holders to come forward at this crisis
and protect their property from the disaster
of disintegration and bankruptcy, and state
in strongest terms that the non success OF
this proposal will inevitably result in fore-
closure with all its attendant misfortunes.