The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-05-17
THE R. I. PLAN ABANDONED.
THE HOLDERS OF UNDERLYING BONDS
WOULD NOT SUPPORT II.

| TIE Large He,aers or RiehaouA Terninai
Stock AppoiHt . New Cowmittee-An As
sesssent Upon the Stock Almost Certsin.
The Richmond Terminal REORGANIZATION
committee made the following announc com emit
late yesterday afternoon:
| Holders Of underlying securities having
failed to deposit an amount SUFFICIENT to con.
etitute basis for the proposed issue OF
bonds and to enable the committee to de-
clare the plan effective. the committee
deems It proper to inform the holders
Of certificates OF the Central Trust
Company and Of the securities OF the Rich.
mond and West Point Terminal Hallway and
warehouse Company and it's auxiliary cor
porations OF this fact In the absence Of ade-
Quate assent BY the underlying securities, a
contribution By the stockholders OF the Rich.
mond Terminal Com any and the holders OF
other inferior securities may be necessitated.
but as this would be In conflict with the de-
ciared objects OF the committee and OF the
plan proposed by II, It cannot be adopted as a
modification or alteration Of tho plan. Tho
present announcement Is made to give op-
portunity to all parties interested In the pres
ervation OF tho properties. to take such action
as they may think best to that end Tho Con.
tral Trust Company 10 willing. in the mean.
time. to retain the custody OF the securities
already deposited. and the Committee will
continue In existence only no long as the In.
terests OF the certificate holders shall require"
After the meeting at which this announces
mittee declined to say anything outside OF tho
formal statement they had prepared. That
Sat s ibs no az 1t hns been
Per- pendea upon tho co6reration Of the holders Of
aa p Eat and has Sesn
- Az an, same time that the committee was in
n m tVrp AL. A..
eurities Of the Richmond and Vest Point Ter
rons a as wha H .h %e 81 Tho
snps EGdes
Thomas ' Mess re Gyda ke Gsn
ives Ct Mes seerTS LboT and
son Co.. Edward sweet ( Co.. ". L Patton TOM
Co.; W: Mortimer. White. Morris 'SG"s Co..
ssE yars r Trask Co. Moore schey. and
= "A resolution was adopted. after an informal
n noint n lnsftsuetnf the Chairman 70 ap
IL IN eG 1ssar Tin n tbe
affairs Of tie Richmond Terminal Company
asI report at meeting to Re held Ct tho same
ton provided. that Col strong Should himself
p one Of this committee. and he named as
clyde. MIR, John 4. RutherfurL acted as sec
r res q tho meeting and will be secretary
hiSV vi INC committee
This meeting wa, practically OF the same se-
curlty holders that appointed the Olcott Com
mittee 1--WE months ago. and there are reasons
Tor relieving that the reassembllng OF those
security holders at the same time tina. the o.
colt plan was withdrawn was not a ccinci-
dence. 1t Is surmised that tho committee OF
Lnrss appointed Yesterday. has in hand the
stt%ed for the one w Whist W, a ne tbet
IN due time It will submit it to the public and
ASK the holders who have. deposited their
securities with tho Central Trust Company to |
accept it In common with other security
holders. Another probable step Is fusion Of
! part Of the 0lcott Committee with the new
committee. 1t Is a foregone conclusion that
no new plan will include an assessment upon ;
=, Kichmond Terminal stock ind all of the
,ther inferior securities.