Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1890-07-11


Element is satisfactory TO and i,
accepted by Il majority of, an,
is binding upon, all the deposit
ing creditors of the class accept
ing, and ii shall be forthwith
submitted 10 Virginia to bt
contaminated.
:. If, for amy reason, thc Bond
holders Committee deems it
necessary 10 submit IL modified
plan, the right is reserved to il
to do 80, in the manner lis above
provided.
Fiith-Aitcr Il plan of settle
nrcni has bccomc effective (ol
which Fact the declaration in writ
ing of the HontlholdcrS' Commit.
tee to the several Repositories
shall he concluSivc) each dcpoSi-
tary shall. in such manner us shall
bc designated by the Bondhold.
crS' Committee, surrender To Nir-
ginia the obligation Of the class
accepting, as aforesaid deposited
with il, and shall receive in salts
faction thereof thc bonds and 9th.
cr securities called for by said set
tlcmcnt, which, in iurm. shall he
satisfactory to said committees.
The bonds and other securities
50 received from Virginia shall be-
Immediately delivered by each dc.
poSltary to he holders of It's Ger
tilicatrs upon surrender of the
same in accordance with the terms
OF settlement.
The Bondhol'lcrs' Committee
shall arrange for the purchase or
sale of such fractional interests aS
may he necessary to cqualizc the
distribution.
SiXth-ln full payment of all
clarScS for service or expenses of
every character on account of this
undertaking, each drpoSilor shall,
when he exchanges his trust Ger.
tliicatc for the new securities, INV
to the dcposiiary, for account of
he i;ondhnl,lcrs' Committee, three
and Il half (3D per ccntum in cash
of the par value of such new ~
curiticS obtained from Virginia i'm
settlement.
Scvcnih-Any dcpnSiiary. when
ever directed by the BondhoIdrrs'
Committee, may surrender amy oh
ligatio Deposited under his agree
ncnl To the holder Of its corrus
certificate.
ANY obligation may ho with.
drawn from Il dcpositary at any
time after pcrcmb9!eEl iahhtsstt lbG1S9l.
unless he drrosibiag beFedilorS
have accepts'yT sa ggaslsfS4ppS9 q q
mem, or ,N}l ggllss sII y Ilpposca sgeitlo.
mcnI is pcnlinsii iioFy Their accept.
amcc; provided tho corresponding
certificate is surrendered, and pro
vhlcd, also, the holder pays the
drpoSilary, as his share OF dis
hurSrmcntS in having the debt de.
posted, Il sum not exceeding one
Fourth of ono per ccntum of tlr
par value exclusive Of any forfeit
rd lnicrcSD of the obligation <,
withdrawn.
Eighth nX.n~6hIieu,jons sinai,
llpon rc,,,.'r' T' $500
...ln@~iucst of he ccriilicat,
1.mldcr, and a; his expense be tran.
icrrc'l from one dcpositary to an
at her drroSltary acting under thi
! agreement.
Ninlh-I'ull power is hereby in
vested in the Eondholdrrs' Com
mittec to perform any act ncccssa
ry or proper for the surrender b,
the Repositories To the State q
Virginia OF all or any obligation
deposited in pursuance of settle
mcnt which has been approved L.,
the Advisory Board and acccpte,
by any class or all OF the creditor
as aforesaid.
Tcntll-For the purposes of thi
agreement the debt is considcrc
as divided into four classes.
In testimony whereof. the Bono
I holders Committee have alixc
their signatures hereto, duly III
tested, this Eth day of may, 1897
Frederic II. Olcott, President Gen
trail Trust Company, New Yorl
William l.. Bull, of Mcssrs. Elwar