New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-05-02
fnanllG..
Richmond and West Point
Terminal Railway and
Warehouse Company.
To the BondhOlders OF
The Richmond dnd Dancftte Sys'
tenn 0md the
East Tenn, Virginia d GA. SDs'

LUSt 1CNtss " c'''"
tenn.
The plan OF reorganization of the Richmond ana "ess
Point Terminal Railway and Warehouse Company ds~d
March 1892 provides for the retirement Oh your o'"O
and the issue OF certain securities In place heteoi'
The plan Is coercive. -
1t contemplates the prevention OF ReceiVershp' WIN
bankruptcy and dsntegraon OF the properties
cooperation is necessary TO preserve inc ineey
OF this large system Of railroads. ana you are ihViNd !"
become parties Plan by depoeiting your bonds WIN
out delay with Central Trust Company OF New'fok'
A. reced in the Reorganization Plan some OF It's ad'
vii by comparing the results OF the pro-
ent operation and OF the one PROPOSED oes"s
in mind that the apparent net earnings OF the existing
PROPERTIES and have not been available ~ their tu
s PRESENT STATUS.
Gross en- rnings last fiscal year. (exclu.
ding Alabama (:reut southern ).. SIS,33SoVV
Operating expenses l0''"o'|of
Nc, =. ru;ur. .................... S,744.738
Fixed charge. .................... 9,474s37
PROPOSED CONSOLIDATION.
Fix ed C hnrge-, (ex udinx stO.OOO,00O
First Mortgage Beads. TO be issued
only for additional property S0,+OOOVV
ReutaI.. Cincinnati Southern $1,000.
900 Mortgage \. &. Il. X. S26O,OOOJ 1,26o.0OO
Total fixed charges SI,oOVVVV
Concentration OF the numerous corporations under one
will largely reduce the expenses snd increase
the net earnings.
The plan MAKES due allowance for improvements or
bermens which be found requisite during the next
Two year with view TO material reduction In operating
expenses Provision ha also been made for all ear trus'
obligations s2 800 and ~ OIL existing floating deoe
80 $40 600 since publication OF the plan increased 70
about $780, O0).
The committee to the first Board OF Directors
Of the new corp ration which will bc called The Southern
Railway Company"
In determining the basis Of OF old securities
for new the has endeayord to exercise abso
u,. ,nraoIl.y and to treat all interests in fair and
cquitsi manner
Over % rcr cent OF the aggregate amount OF the Rich
mond and Wet Point Terminal Railway and Warehouse
Comtany srcurte. been deposited together with
stocks ard bonds Of auxiliary companies, rhe dcoiis o
which ha been previously published
TIE TIME FOR TIE DEPOSIT OF ALL TERMi'
xAI SECIRITIES aND ALL CLASSES OF sTOCh
IL EXTENDED UNTIL AND INCLUDING MONDAY,
MAY ,. 1892.
THE TIME FOR TIE DEPOSIT or ALL UNDER.
LYING BONDS IL EXTENDED UNTIL AND IN.
GLIDING FRIDAY. MAY q. 1892.
After tho dar above named stocks and securities will
no recelAd only upon such terms the Committee may
then impose
Tho hight Of subscription the Ca Fund offered under
the man To the depoarl OF stock and per cent bouds
will be extended date be hereafter adver'
tsod by the Committee.
Comics OF the Plan Of Reorganization may bs had
nj nice Of the Central Truvt Company OF New. York.
New-Y York, April 20. 1892.
FREDERIC p. OLCOTT.
OLIVER II. PAYNE.
FREDERICK ID. TAPPEN.
WILLIAM H. PERKINS,
HENRY BULGE,
IL. &. FAHNESTOCK.
J.kENNEDY TOD
Committee.
81 wall.st.. NewYork.