New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-06-20
financial.
TO THE STOCKHOLDERS OF THE
OREGON & TRANSCONTINENTAL CO.

Inc Board Of Directors have much pleasure in informing
sou that they have succeeded making provision for the
payment OF the outstanding bonds Of the Company The
Northern Pacific Railroad Company having agreed to place
al our Disposal sufficient amount Of it, consolidated
cent bonds for that purpose contract has been entered
into with strong syndicate under which the payment Of
he bonds under the terms OF the November
1890 Is assured The syndicate includes Mcs'rs prexe
Morgan Co, J. :. Morgan & Co.. Of London, Drexcl
Co, Spcyor g. Co.. Blown Bios Co., Kuhn Loeb & Co.,
L. Won Hoffman & Co.. J. w. selgman Il Co., Winslow.
Laner Co.. Edward Sweet Co.. Lee HicGinson & Co.,
John d Rockefeller. the Dcu,>chc Bank Berlin. Jacob s.
H. Stern. Frankfort MAN, and l.. Speycr Essen
f1nkiorton.theMan.
The main obstacle TO the reorganization OF the Company
having thus been removed your Board were enabled to
determine the definite Of procedure to that end under
the authority vested in them at the Of the stock
holders Of june H. 1880 and November D. 1889 and now
lay before You the rcor2an alton programme decided upon
1t Is proposed to form corporation, whose charter
VIII more certainly give The desired pcwcrs than the OK
istinr does After careful consideration Of all the
questions involved by OURSELVES and b. counsel II has been
decided reofganzc under the laws OF the state Of New
jersey and that the Of the company shall be The
North American Company.
IL first contemplated 10 reorcanzc with smaller
capitalization than present but very large majority
Of the stockholders objected reduction. With the as
certa'ncd or fully throoqu1rtcrs OF the stock
holders IL T. intended n authorized capital Of the
new conrany the nominal that Of your company
VIZ: 5oOOop0O but o. which only 600, CORE
spending tn outstanding stock Of your company, shall
now BE- issued
The now Company Will orcr 10 exchange. share for
share, four hundred tlousand lpad shares Of It's stock
the par hundred dollars each for the outstanding
four hundred thousand sharos of your stock.
Thirty DAYS will be allowed for cn"c,ne the exchange
EoaId Will arrange. that stockholders who do not
make exchange shall their share Of tho assets Of
the Company either in kind IN cash Mt AN appraised
value. In order q obtain valuation the fairness Of which
shall able dispute. Presidents OF three OF
the leading Trust Comraacs Of New.York tity will be
invited rake Il. ShoIld partial sale or distribution
Of the become necessary the Company viii have to
placed In a Of liquidation. which can b" done at
any time under Of the Board Of Directors a.
authorized bv the stockholders AZ their meetings.
public VIII he given Of the successive steps
In the reorganization explained the foregoing by this
COMPANY. well a. hy the now Company.
We do hesitate 10 strongly recommend IN advance
10 all stockholders into the Company for the
following reasons:
a. There Is ovcrv ground believe that tho career Of
Company will b. I.opcrous ono from the outset
Thor, VIII be- among is ocSholdors nd, dua and firms
In country Europe oi larg" Influence and resources
and uron the support Of strong financial groups
her. and abroad
e. II is intended that tho Comrany shall operate mainly
in two sp.cll fields ono tha, Of railroad hnanelcrng
A. are certain the regular custom q several large
and prosperous railroad systems confidently look
forward an and profitable business in this con-
nccton Tho other field Will n" the promotion Of electric
light and power enterprise Tn substitution o the electric
light ior other umnlnts and Of electric TO- steam power
n manufacturing and transportation that Is now progress
inr all over CIVILIZED World and nowhere more rapidly
than IN country Offer tho greatest opportunities for
the lucrative employment 81 large capital II IS expected
that Company Will have tho closest afation, as
stockhodcr and otherwise with the Edison General Flee
tic Company and the Thomson Houston Electric Company
which two powerful corporations do most NJ the electric
lighting nearly al the business Of equppnr electric
railroads IN tho United states The general public have but
limited understanding o. tho Great growth already attained
hv tho industries devoted the practical application Of
electricity and tho enormous development Of which they
are carablc. feel that tho of capital
In this direction will bring large
More detailed information regarding the new Company
Will he submitted In IT, formal invitation To you 70 become
stockholders IN g.
Nv order Of Board NJ Directors.
HENRY WILLARD. President
New.York. juno 10. 1890