The times. [volume] (Richmond, Va.) 1890-1903, 1892-11-09

NN~~N~~N ~~~-~~~~~~-~-~D~
To THE
UNDERLYING BoNDHoLDERs
In THE
RICHMOND AND DANcnLE
SYSTEM.

together for the protection CT their mutual
interests and the enforcement Of their Just
an legal claims. The policy OF the parties
heretofore controlling the Richmond and
Ddvllle Company clearly indicated an in
toiost in the Bonds and Stocks OF the Rich
m)nd sDd West Point Terminal and Ware
house Company paramount 10 any they
may have held IN the securities Of the
Richmond and Danvllle Company, or Of
such underlying bonds and shares as may
be Endorsed or otherwise guaranteed by
the Richmond and Danville Company
The securities deposited as collateral for
the bends and preferred stock OF the Ter
mnal Company are almost entirely subor-
dnate and junior liens 10 each and every
Endorsement and guarantee OF the Rich
m0nd and Danyille Railroad Company, and
cai not be enforced until your prior claims
are satisfied.
THE RICHMOND AND DANvU.LE UN-
DERIVING BONDHOLDERS' COMMIT
TEE have adopted the following general
plan Of operation. which shall guide II in
It's future work:
Il. That this Committee proposes 10 act
for all the divisional bondholders OF the
Richmond and Danvlle system, emitting
none and that II will call for the pooling
OF the bends OF the various divisions, only,
when. I'm the judgment ~ the Committee.
II may be necessary IN order to carry out
its general purpose.
80. That IN the judgment OF this Com
mittCe Il Is for the best interests Of the
bOndholders OF the roads In the Richmond
and Danville System that the Integrity Of
the system should be preserved. and that
II II should become necessary TO sell the
property for the payment OF It's debts. Ii
should be sold as an entirety; but should
the Committee deem IL wise. or should a
ma In int % - uaouriffaa Ia
fault On any OF the divisional properties
which may be deposited with the Commit.
tee so request, then the Committee will en-
deavor TO secure a separate sale Of such
divisional property, and. II need be. TO
mature a plan for the purchase aud sepa-
rate reorganization OF such divisional prop
erty.
80 Tint the Committee will undertake
70 represent IN toe pending litigation the
interests Of all the bOndholders whose
bonds may be deposited with them, and
will take whatever steps it may deem ne.
cessary to protect their rights and secure
the payment OF interest according to legal
priOrtieS
- That the work OF this Committee
shall be directed and confined solely 10 the
protection and preservation OF the interests
Of the holders Of such bonds Of the various
issues called for Gs may be deposited with
the Committee"
In pursuonce OF this plan. the Committee
hereby invites the holders Of Bonds in the
Richmond and DanVille System, new ia
fault. to deposit the same with the MER-
CAMILLE TRUST AND DEPOSIT COM
PANY, OF BALTIMORE. on or after the
10TH DAY OF NOVEMBER, under the
terms and provisions Of an agreement pre-
pared by the RICHMOND Anu DAN.
VILE UNDERLYING BONDHOLDERs'
COMMITTEE, and lodged with The said
Trust Company, from which, or from any
member Of the Committee copies can be
obtained.
The Bonds at present in default are as
follows:
GEORGIA PACIFIC r. r. co. CONSOL-
dated SECOND MORTGAGE IS.
COLUMBIA AND GREENVIl4LE X, Z.
co. SECOND MORTGAGE Gs.
DANVILLE AND WESTERN r. r.
FIRST MORTGAGE IS.
ASHEVLLE AND SPARTANBURG
FIRST MORTGAGE IS.
GAINESVILLE AND NORTH CARO-
LIMA r. r. co. FIRST MORTGAGE 6s.
OXFORD AND GAINESVILLE r. r.
co. FIRST MORTGAGE IS.
RICHMOND AND DANVILLE CONSOL-
dated MORTGAGE GOLD Us.
RICHMOND AND DANVULE DEBEN-
TURE MORTGAGE Is.
RICHMOND AND DANVILLE CONSOL-
dated MORTGAGE 5s
The payment Of s. per Bond will be re.
quired at the time Of deposit Of Bonds for
tho purpose OF meeting the Incidental ex-
pchScs Of the COMMITTEE.
The Committee earnestly advises and re-
col mends the holders Of the above Bonds
to unite with them in this action. Your
claims are enfOrcihle. and can be maintain
ed. II you are firm and act together the
s, clrities guaranteed by Endorsement or
otherwise will 1oubtlessly be protected in
any plan Of reorganization which may be
proposed, or II not, then you can protect
yourselves. If, Cd the contrary, YOU are
iudin,Itnt and neglect this opportunity, be
assured that your claims WILL as far as
possible, be ignored.
The Committee reminds MI underlying
whether their bonds have heen
on or not. the fact that the very
best bonds in the System were attacked In
the OlOCtt plan, and that all indications
point to an effort tc force a concession
from all divisional bonds for The benefit Of
the holders Of Terminal Bonds and Stocks
J. WILCOX BROWN.
JOHN A. WHITRlDGE,
SKIPWITH WILMER
f. NJ. COLSTON.
JAMES Ii. DOOLEY,
JOHN b. RAMSAY.
r. NJ. VENABLE,
JOHN GILL,
WM. II. BLACKBOARD,
FRANK p. CLARK,
JOHN NJ. NELSON,
and Danvlle Underlying Bond
holders Committee
BARTON & WILMER,
VENABLE e. PACKARD,
FRANK T.. CLARK,
Counsel