The Big Stone post. (Big Stone Gap, Va.) 1890-1892, 1891-10-23

u,yic Thinks ""h'c DIG
st. '0" ,hn Improvement Company
$50" n ., - do Wore llarm Tina" "'""'
par of.ae I;o"d." me v 'n'p'I inn
Fccp t'nos.ny ia Payment o. '>"'' .,o :,
feat ''.a IN hTor. Being "'"' -
49,. ,he Company
#. III. g..io. ot;ne ros'.1
Nv H.. oct III observe
amer +. discussing the qncs'''"
a.,.pce Of the bonds OF the N
.a, COMPANY in payment of the
/. q. purchasers OF lots. I think s"I Gu
..a..jsn is more likely to do
a..o Good An effort is no" be-
-. 10 relieve The Improvement
i, tuning over to it TWO d'''-
...on ,bc,c bonds and it Is mol
A. TIA, debtor, viii make an! et-
! .. -, notes in money while there is a
Lam n,.eiacr hey viii not be al lowed
,.s dcpicciaicd bonds And WINE
:. +. cas-. to convince such debtors
\. .piaierestcd public Of the wis
!. !. ,aea course. it is extremely
o.lifll,i.i,lhc best way OF col'Inc-
.5.,..crs of,ac bonds Nor is the
.,iou entercly new. because some of
.-.o bond.holdcrs have already Sc
i. considered It. But now that the
I,..t l.a, been agilatcd publicly, l
+, well 10 suggest few consIdera-
which .rcm 10 have been overlook
ir.,.londs cannot be accepted IN pay
f ol the full amount of any OF the oo-
, ,ioo, without the unanimous consent
he bond.hold.rs since the holder OF
!, lond i. entitled to his share Of the
,mcrt in money This unanimous con-
il +. impossible to obtain.
rcopI. The only practicable method
authorizing the trustee TO accept any
uncut c1ccm IN money, must be lay the
vdual bond- holder signing All Instru-
!. bg Which the trustee would be d.
h ed to accept in payment lie bonds of
lmrroycmcnl Conpany to the extent
Ill., dividend 10 which such @holdcr of
j Is might ic entitled. and The bends
i ID have to he stamped or endorsed
Il it Is subject TO sucl, an agreement.
7ird The holders OF Il portion Of the
ads would hardly consent TO accept
sir proportion OF PAYMENT in the bonds
4 f. anv considerable number did not
b. because tie result would be to as
4 ibcuon.assculi. holders in obtain
! cash payments ahiic they themselves
d receiving much less value,
SouIl Consequently the holdcrF WHO
4 Id sign such az agrccmcl, would nee
slIiy hr constrained 10 limil the au-
b., given TO the trustee 50 that ne
ta'drcceiye ~ such pn.mcut the bonds
4 which were subject 10 such arrange
This however Nigh! lie fixed 10y
kms a higher value unon the bonds
arh arr subject to the agreement than
d Which arc not
6I'll Il IS extremely Improbable that,
4 ,cf, large number OF bond holders
b.! ascent loa plau hy whicb,hey were
5eceIrc at par, in payment Of a debt.
, II, that have been quoted aud offered
Ssalc a. ~ per cent or tie dollar, and
Z TINS qupfa;ion +, no fair cci,crion
3D. real value %; these securities, Still
p frjcc should Ly fixed which would
81 some sufficient iuducemcnt 10 obtain
3 aoldei's consent, possibly hy 20 per
Il o! 'le par value OF The balance still
q o0i0e hoads might lie sufficient and
q assessing bonds might lie received at
e.; cent.
H''h' HIS arrangement mi.ht con,in-
gyeo as TO future sales OF lois provided
8 should he sold at prices agreed ON.
se'en'o- IN any event tie bonds &C.
g. by thetp'tce as such PAYMENTS
q 10 not he cancelled, bat wonuld be
u o' ann ia trust and lie paid to the
g. OF tie bond, in lieu Of the divi-
T. The Improvement Company would
aNe us benefit from the Arrangement
e. increase OF the dividends that would
q oe pad on lis Obligations.
q an arrangement is now be;nr at
a'ed by which the Improvement Com.
j W 'e"eyed from it, present indebted
3 3. 's tuning orcfiothai COMPANY ll:v
\ '@O u"'dend> Oh Tie boud,. Que ..
s,s. - ''H l'riiai', in il.c hand, Of Tie
q ~. Nv arrangement c.n he made tn
aa. pay ineM II bonds forihc outsiand
sNo'e' until lac trustee shan b.yn'nn,
4 ''o'hcr dividend OF $50 Geo
a. 3e ~, Tue lmproyeneni Company il
ss, Wv ne l'' way clear might conscm;
& i, t w. ,'@e The sharc, Of such di.i-
/, I i" 13'a' o"ihe same terms as the
i'''older,. tu' hi, qos.lia" ,n =. US
'"''ed by l!a' Goann, IN rsSn ,ns
4 '''s''a'm Tor It, relief i carried
q II ,loaN BOYLE.
] 'IF''i"rE rA... :oNnw.