New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-06-21
flnannaI.
TO THE STOCKHOLDERS OF THE
OREGON & TRANSCONTINENTAL CO.

Inc board OF Directors have much pleasure IN informing
YOU thst they have succeeded in making provision for the
payment OF tho outstanding bonds Of the Company The
orerh Pacific Railroad Company having agreed to place
~ our disposal sufficient amount OF It's consolidated per
cent PONDS for that purpose contract has been entered
INTO With strong syndicate under which the payment Of
the bonds under the terms Of the mortgage November
LOW Is assured The syndicate includes Mcssrs Drexe
Morgan Co.. j. S. Morgan & Co., Of London, Drexel
Co., spcyer Co. Blown Bros Co.. Kuhn Loeb & Co.,
L. von Hoffman & Co. j. w. seligman 4 Co. wlnslow,
Lanier Co. Edward Sweet Co.. Lee Iiaginson Co..
Johh d. Rockefeller. thu Deutschc Bank Berlin, Jacob 5.
H. stern Frankfon on the MAN, and l.. SpeyerEuisscn.
frankfort-on- the Main.
The main obstacle to tho reorganization Of the Company
having thus been removed. your Board enabled to
determine thu definite OF procedure 10 that end under
the authority vested IN them at tho Of the stock
holders Of Juno H. 1899 and November s. 1889 and now
lay before you tho rcorgan aion programme decided upon
1t proposed TO form corporation, whose charter
VIII more certainly give the desired powers than the ex
listing does After careful consideration Of all the
Questions involved by ourselves and by counsel has been
decided to reorganzc under the laws Of the State OF New
Jersey and that the Of the company shall be Tho
North American Company.
IL was first contemplated 10 reorcaDze with smaller
capitalization than the present but very large majority
Of the stockholders effected reduction. With tho as
cerained OF fully threcquarers Of the stock
holders IL Is Intended to make tho authorized capital OF the
new the nominal that Of your company
VIZ $50 100000 but OF which only siooooooo. CORE
spending outstanding stock OF your company shall
now be issued.
The new Company viii Offer to exchange. share for
share. four hundred thousand fupad shares OF its stock
Of tho Of hundred dollars each for the outstanding
four hundred thousand shares Of your stock
Thirty days will be allowed for ehcctnc the exchange
Your Board Will that stockholders who do not
make exchange their share Of the assets Of
Che Company either In Kind IN cash at appraised
value. In order obtain valuation the fairness OF which
shall be able dispute the Presidents OF three Of
tho leading Trust Comranies Of NewVork iity
Oh alra sale
Of the necessary. the Company will have n
be placed Of liquidation which can be done at
under direction Of the Board Of Directors. as
authorized by tho stockholders at their meetings
Due public notice will be given Of the successive steps
in reorganization. explained in tho foregoing by this
Company. as well by the Company.
We hesitate to strongly recommend in advance
to all stockholders into the Company for the
following reasons:
d. There every ground believe that the career OF
the Company will be prosperous from the outset
There will be ts stockholders individuals and firms
IN this country and Europe Of large influence and resources
and RELY tho support Of strong financial groups
here and abroad
e. It intended that Company shall operate mainly
special fields. One is that Of railroad nnancerng
certain OF the regular custom Of several large
and prosperous railroad systems confidently look
to an extensive and profitable business in this con-
ncciion. The other field Will he the promotion Of electric
light and power enterprises Tho substitution o. the electric
light for other umnants and Of electric for steam power
manufacturing and transportation that IS
Inc all over the civilized world and nowhere rapidly
than in this country the greatest opportunities for
tho lucrative employment Of large capital II Is expected
that Company viii have the closest afnation,
stockhoder and otherwise with the Edison General Flee
trlc Company and the Thomson Houston Electric Company
which powerful corporations do most Of the electric
lighting and nearly all the business Of cquppng electric
"a roads In tho United States The general public have but
limited understanding Of the great growth arendy attained
by the industries devoted the practical application Of
electricity aud development 81 which they
fe" that the Use Of your capital
In this direction will bring large
More detailed Information regarding the new Company
will be admitted in formal invitation 70 you TO become
stockholders In 10.
BY order OF the hoard Of Directors.
HENRY WILLARD. President
New.York June 10. 1890