New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-01-11
A NEW SUGAR TRUST BORN
OPPOSITION TO REORGANIZATION ENDS
THE RECEIVER DISCHARGED AND LEGAL CON
PANY FoRMED--NR CAMERoS'S POSITION

| HISTORY OF THE bANlDbo IiSf>
The American Sugar Refining Company was
formed yesterday at meeting in Jersey Cry oy
the trustees of the North River Sugar Refining Com
pany. The trustees OF the Sugar trust hurried
from Brooklyn to Jersey City as soon as Judge
| Pratt, in the supreme Court, discharged the three
receivers, Henry w. Slocum, = Y. White and
| Henry o. ilavcmcyer, whom hc appointed three
months ago, under the suit Of Duncan Cameron,
! who asked that the doinSs of the trustees OF the
! Trust be examined. This great victory
for the Trust. Opposition was withdrawn to the
plan Of reorganization By October %, 1890.
Al the meeting yesterday II. O. lIavemeyer was
elected president of the new company, and John
T. Scorcs, ir, secretary and treasurer. The di-
rectOrS Of the company ore II. o. iavcmcyfr, I. a.
Iiavemcycr, +. o. Mathesscn, j. Il. Scarles, jr,
| William Dick, j. r. Thomas and George G. Ma
goun. The charter of the American Company
obtained Yesterday, and the papers were registered
and fled in the office Of the County Clerk Of llud-
| son County, y j. Tomorrow holders OF certii-
Gates in the Central Trust under the plan of re.
organization may present their certificates.
The plan of reorganization which was offered on
October 80. $780, and now accepted, is as follows:
All the properties represented by the Ger.
| thcatc, oi the SUGAR rciincre, companies Will be
acquired 10y wJcrscy corporation 20 be caled
The American sugar Reclining COMPANY The
directors Of this corporation for the fir, will be
a. follows: II. .. llavcmcyer. +. \. IIavemeycr,
| f.. O.. Ma I ir ncl
u Il. ThOna, and George c. Mlgomn
M iie ,apai OF TN, corporation vii! he f3o.oo0o0o
preferred stock and 80. 600 Of common Stoch
Ih' shares Of the American au-ar refining Com.
Trust Company receipt, representing cctifca". orc
HaIi M Preferred share, and one Ia In common hare.
io- 100 shares (or fractions thereof in proportion VIII
ncrVc my shares OF thr american sugar KrhmHs
| shari, ~ tn~ American SIl,,r Ergnine COMPANY
| common stock. and. in addition, , per cent IN cash
\" or,,.- ., r.,,.,do t al ro..,,o f,,u,. con
/ tnccurcs. bonds 10 an amount not exceeding SO.
m";"p ; AT Iats OF interest n"t 10 cN, ocn " per
win be- provided tr 10 b" n,cd onIy A, occasion Shall
ieqnife. -. ,,..o,,,,
ton of The above per cent IN cash. /, c,timated that
| lnH. lnr HNo"'1n sugar l"HhluE onp'll ".u -. -
il, ~ 600 COO aver - 600 Goo vii, ho in cash end
available cash a->'t-l. 0itn 10" power - raise npon
a., Z % ', % 'IiI'i ~ t i,o in ,bis
pan may depo~t their certificate, ~ once with tho
t "'c' 49,, & % .l,Irr, Fly T"rn , , ,n b J" a
600 tG.u. cNchausoablc for The -t,ck II thr c1a
i.In,. ~ C ''G 10; deposit Oh ''fth'''e' II N'n'u
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