The times. [volume] (Richmond, Va.) 1890-1903, 1892-11-10

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To THE
UNDERLYING BoNDHoLDERS
IN THE
RICHMOND AND DANvuLE
SYSTEM.


together for the protection q their mutual
Interests and the enforcement Of their just
an legal claims. The policy OF the parties
heretofore controlling the Richmond and
Ddnville Company clearly indicated an in
tcItst IN the Bonds and Stocks Of the Rich
mond Gnd West Point Terminal and Ware
house Company paramount to any they
may have held 10 the securities Of the
ri, bmond and Danville Company. or OF
such underlying bonds and shares as may
be Endorsed or otherwise guaranteed by
the Richmond and DanviIe Company.
The securities deposited as collateral for
the bends aud preferred stock Of the Ter
minal Company are almost entirely subor-
dlnate and junior liens TO each and every
Endorsement and guarantee OF the Rich
mOnd and Danvllle railroad Company, and
coI not be enforced until your prior claims
are satisfied.
THE RICHMOND AND DANVILLE IN.
DERLYING BONDHOLDERS COMMIT.
! TEE have adopted the following general
plan OF opeI aticn, which shall guide it in
its future work:
Il. That this Committee proposes 10 act
FOR all the divisional bondholders OF the
/ Richmond and Danville system emitting
/ more. and that IL will call for the pooling
Of the bends Of the various divisions, only,
when. In the judgment Of 49, Committee
IL may be necessary In order to carry out
its general purpose.
80. That In the judgment Of this Com
mittee IT Is for the best interests OF the
bondhOlders Of the roads ln the Richmond
aud Dunville 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 its de- ts, 1t
should be sold as an entirety; but should
the Committee deem it WISE or should
majority In Interest Of the securities in de.
fault on any OF the divisional properties
which may be deposited with the Commit
/ tee so request, then the Committee will en-
deavor 10 secure a separate sale Of such
divisional property, and If need be, TO
mature a plan for the purchase and sepa'
rate reorganization OF such divisional prop
erty.
90 That the Committee Will undertake
TO represent in the pending litigation tie
interests Of all the bOndhOlders who So
bonds may be deposited with them, and
will take whatever steps 1t may deem ne
cessary to protect their rights and secure
the payment Of interest according to legal
priorities
IL That the work OF this Committee
shall be directed and confined solely to the
protection and preservation Of the interests
Of the holders Of such bonds Of the various
issues called for as may be deposited with
the Committee"
In pursuance Of this plan, the Committee
hereby invites tue holders of Bonds in the
Richmond and Danville system now i'm de-
fault, 10 deposit the same with the MER-
CAMILLE TRUST AND DEPOSIT CON.
PANY, OF BALTIMORE on or after the
10TH DAY OF NOVEMBER. under the
terms and provisions OF an agreement pre-
pared by the RICHMOND AND 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 GREENNlLLE r. II.
CO. SECOND MORTGAGE IS.
DANYILLB AND WESTERN L. Il.
FIRST MORTGAGE IS.
ASHEVuLE AND SPARTANBURG
FIRST MORTGAGE Gs.
GAINESVILLE AND NORTH CARO-
LIMA r. r. co. FIRST MORTGAGE Is.
OXFORD AND GAINESVILLE Il. K.
co. FIRST MORTGAGE Is
RICHMOND AND DANVILLE CONSOL-
dated MORTGAGE GOLD Gs.
RICHMOND AND DANNILLE DEBEN-
TURE MORTGAGE IS.
RICHMOND AND DANYILLE CONSOL
mATED MORTGAGE 5s
The payment OF 81 per Bond will be re-
quir6d al thu time Of deposit OF Bonds for
tho purpose Of meeting the incidental ex-
pchSes OF the Committee.
Tie Committee earnestly advises and re.
col mepd5 the holders Of the above Bouds
10 unite with them in this action Your
claims are enfOrcihle. and can be maintain |
cd. II you are firm and act tOg ether. the |
81 curities guaranteed by Endorsement or |
otherwise will IOubtlassly be protected in |
aDy plan Of reorganization which may be |
proposed, or II not, then you can protect |
yourselves. H. en- the contrary, you are
indin.itnt and neglect this opportunity, be
assured that your claims will, as far as
possible, be ignored.
The Committee reminds al underlying |
bOndhOlders whether their bonds have been
defaulted on or not, the fact that the very
best bonds in the System were attacked In
the OlcCtt plan. and that all indications
point to an effort &c force concession
from all divisional bonds for The benefit Of
the hOldars of Terminal Bonds and Stocks.
he committee also invites the holders
IF Georgia Pacific Income Bonds TO de-
posit the same under the agreement.
J. WILCOX BROWN,
JOHN A. WHlTRIDGE,
SkIPWITH WILMER
F. NJ. COLSTON,
JAMES Ii. DOOLEr.
JOHN r. hAMSAY,
X. NJ. VENABLE,
JOHN GILL,
WM II. BLACKBOARD,
FRANK +. CLARK.
JOHN NJ. NELSON,
and Danyille Underlying Bond.
holders Committee.
BARTON & WILMER,
VENABLE & PACKARD.
PRANK p. CLARK,
Counsel.
BALTIMORE. Nov. 6. 1892
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