New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-07-01
TERMINAL INTEREST PAYMENTS.
DISPOSITION OF THE COUPONS DUE TODAY
ORGANIZATION RUMoRs.

DISPOSITION OF THE COUPONS DUE TO-DAY
REORGANIZATION RUMoRs.
Discussion OF Richmond Terminal affairs yesterday
centred in private dispatch from Baltimore, which
said that McsSrs EudekOper and Crawford had ar
ranged a plan of reorganization which would be nm
deraken by Frederic p. Olcott, unless Drexel Morgan,
q Co. should withdraw their decllnaton. Nothing
but denial OF this report however, could be obtdndf
Mr. Ocot said he hd mot before heard OF the ALLEGED
plan. Mr. IIuidcloper said that he was one OF
the receivers OF tho Richmond anil Danville the
question OF reorganization out Of his province,
ond he had In no way taken II up. At the office OF
Drcxel Morgpa & CO. IT said that no proposition
to take up the matter again had been made to them
! md they knew Of other pan. The general feeling
WAS that no further steps reorganization woui be
taken until after the meeting Of the stockholders
committee. @ July q.
As has already been announced, 1t seems certain
that the Georgia Central will default at least In
part IT, day the payment OF interest on Its
bonds due to-day. The Indebtedness OF the road Is
chiefly represented by the per cent ana per cent
bonds there being Si,00oyooo OF the former and
"a. 600 900 OF the latter.
Mr. IIuidckopor, the receiver Of the Richmond and
Dnnvtlle Company, made the following statement
yesterday concerning the payment Of interest
ave shall begin paying July coupons tomorrow
on bonds of leased roads. and shall probably pay
coupons rs fast as they are presented. some OF
usually come In all at We presume that all
will be paid however. In the next three or four days,
An exception has been made OF Richmond and Dan
vile skies some other Arrangement may possibly
be made with refefSncc to these coupons. but at
the moment there provision for their pay mcnt.
Th discrimination Is made because the court re
CARDS It as important 10 keep the system intact, and
II We did not pay the eased-linc obligations there
would be movements on the part of bondnoders to
get control OF these lines, which might result In
breaking up the system. II is considered for the
interest Of the 1rsmortggc bondhoders to have the
system kept together, even Ut the csst Of little
delay in Interest. There Is no doubt about the Sc
curity OF Richmond and Dnnville skies. Tho bond
holders will get every cent Of Interest due them"
The bonds OF the Richmond and Danvile on which
the maturing coupons TO be paid today are the
Richmond. York River and Chesapeake first mortgage
the Western North Carolina first consolidated mort
gag. the Charlotte. Columbia and Augusta ilrst mort
gage. the Georgia Pacific first mortgage the Chester
and Lenolr first mortgage, the Cheraw and Chester
first mortgage and the Roosevelt Railroad first mort
William p. Clyde and George +. stone yesterday
issued u notice authorizing the Central Trust Com
many to purchase for them, al par, al the coupons
that might be presented OF the Richmond and Dan
Vile per cent bonds maturing to-day, the payment
Of which has bean Disseminated against In the order
of the court.