The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1890-09-23
INTO THE NORFOLK & WESTERN.
The Reorganization of the Shen-
andoah Valley Agreed upon.

The Shenandoah Valley railroad will
pass into The hands of the Norfolk and
Western.
If there has ever been any doubt on
the matter it is now removed.
Some time ago purchasing. commit
tee, under an agreement with the Mer-
camille Trust Company. Of New York,
was appointed to perfect a rcorganiza
ton of the Shenandoah. and plan of
reorganization was proposed.
The plan OF reorganization included
the issuance OF not more than 100000,
600 worth OF new securities first mort
gage: per cent hfty-yrar gold bonds:
Si.500,0 600 10 be preferred stock, and
S2.j0O.0 common stock:
The $4,000. OGO OF now first mortgage
bonds. it was stated, would be applied
rs follows:
For outstanding first mort
gage bonds, Nos. to zero So, 600.
For taking up car trust Sc
curitics, payment of re-
ccivcr's debt and certifi-
cate and unsettled right of
way claims; for settlement
with holders Of detached
first mortgage coupons and
of other claims against the
property: for costs and ex-
pcnses of foreclosure and
reorganizat ton: for the con
struction of short branches
and double tracking: and
for bettcrmcnt and adj
ditiOnal equipment and
other cash requirements i,2T6. GOO
For the extension of the rail
road to a point at or near
the Potomac river opposite
Washington. ID. c.: for
building such extension
into Washington and the
acquisition of terminals in
the District of Columbia. S2.500.O0O
The Norfolk and Western Railroad
Company became a party to the plan and
agreement of reorganiza ton. and agreed
to consolidate with the new company and
issue it's preferred and common stock in
exchange for the preferred and common
stock OF the new company. and to guar
antee the first mortgage bonds of the
new company: or at the option of the
purchasing committee to issue its own
5 five per cent. first mortgage bonds of
like issue secured by first mortgage
upon the railroad and property pur-
chased.
Yesterday the following notice was
read: '"rhe purchasing committee for
the reorganization of the Shenandoah
Va .ey Railroad company announces
TIL holders of over ninety per cent. of
fir mortgage bonds and over eighty
<pe cent. of the general mortgage bonds
IN re assented to the plan of agreement
N Jed August 5, 1890, and thereby is de-
d red effective. At the request Of
certain security holders who have been
Einable to present their certificates, the
committee herewith extends the time in
which security holders may become par
ties to the plan up to September 20,
5after which no bonds can be deposited
Aexcept subject to such terms as the com
mittee may impose.
This means tho construction of road
TO Washington.
The Woodland Park Company.
The Woodland Park Land Company
6led their charter in the clerks Office
yesterday, The capital stock is to be
Il st less than $4,000 nor more than
$3.50, 900 divided into shares of $40 each,
Ind it can hold real estate to the amount
s3l l0,O 600 acres. The officers are:
n President and treasurer, James :.
ttIimmons.
EN Vicc-president and secretary, f. A.
j Parsons.
us Directors, James S. Simmons, f. A.
fParsons. George c.. McCahan, L.. l..
Rowell, w. ID. t. Duvall, Charles H.
lirasty and w. II. Tinslcy.
NJ
's&>1.D exchanges for sale at THE TINES
r w: 20 cents per 100.