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

concluded that IL Is absolutely NECESSARY
that the bclders OF underlying bonds. ana
more especially Of those upon which there
has been hefault Of interest, shall join
together for the protection cf their mutual
interests and the enforcement Of their just
m legal claims. The policy Of the parties
heretofore controlling the Richmond and
DaiNilie Company clearly indicated an H.
tnitst In the Bonds and Stocks Of the Rich
m1nd and West Point Terminal and Ware
house Company paramount to any they
may have held IN the securities OF the
Rit hmond and Danylle Company. or OF
such underlying bonds and shares as may
be ndorsed or otherwise guaranteed oy
the Richmond and Danville Company.
The securities deposited as collateral TOT
the bends and preferred stock of the Ter
minal Company are almost entirely subor'
dinate and Junior liens to each and every
Endorsement and guarantee OF the Rich
mond and Danville Railroad Company, and
col not be enforced until your prior claims
are satisfied
THE RICHMOND AND DANVILLE IN
DERIVING B0NDH0LDEIS' COMMIT
TEE have adopted the follOwiI general
plan OF operation. which shall guide it in
its future work:
81. That this Committee proposes TO net
for oil the divisional bondholders Of the
Richmond and Danville system, emitting
none. and that il will call for the pooling
Of the bends Of the various divisions only,
when. in the judgment Of the Committee.
1t may be necessary In order 70 carry out
its general purpose.
"2. That in the judgment OF this Com
mittee IL is for the best interests or the
bondholders of the roads in the Richmond
and Danyille System that the integrity OF
the system should be preserved. and that,
n n chould hocC mo necessary q soil tho
property for the payment OF its debts, II
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 VIII en-
deavOr to secure q separate sale OF such
divisional property, and. II need De- 10
mature a plan for the purchase and sepa'
rate reorganization OF such divisional prop
erty.
80. That the Committee will undertake
TO represent in the pending litigation the
Interests Of all the hOndholdcrs whose
bonds may br deposited with them. aud
will take whatever steps il may deem ne
cessary to protect their rights and secure
the payment Of interest according 10 legal
priorties
"a That the work Of this Committee
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 the holders of Bonds in the
Richmond and Danviiie system. now IN dc
fault to deposit the same with the MbR-
CAMILLE TRUST AND DEPOSIT COM
PANY, OF BALTIMORE. on or after the
he
terms and provisions Ct 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-
IDATTD SECOND MORTGAGE %.
COLUMBIA AND GREBNVILLE Il. T.
co. SECOND MORTGAGE Is.
DANVILLE AND WESTERN Il. L,
FIRST MORTGAGE 5s.
ASHEVIlLE AND SPARTANBURG
FIRST MORTGAGE IS.
GAINESVILLE AND NORTH CARO-
LIMA r. r. co. FIRST MORTGAGE 6s.
OXFORD AND GAINESVILLE l. L.
co. FIRST MORTGAGE Is.
RICHMOND AND DANNILLE CONSOL-
IDATED MORTGAGE GOLD g.
RICHMOND AND DANVILLE DEBES.
TJRE MORTGAGE g..
RICHMOND AND DANVILLE CONSOL-
IDATED MORTGAGE IS.
The Payment of 81 per Bond will he 70.
uuired at the time Of deposit Of Bends for
tho purpose Of meeting the incidental ex-
pchSes Of the Committee.
Tie Committee earnestly advises and TO-
cob NERDS the hCldeis Of the above Bonds
TO unite with uem in tlds action. Your
claims are enfOrchle and can be maintain
cd. If you are ffm and act together, the
&, curitles guaranteed by Endorsement or
otherwise viii Ioubtlessly be protected in
apy plan Of reorganization which may be
prOpC sed, or II not, then you can protect
yourselves IT, On the contrary, you are
indin.ICnt and neglect this opportunity, be
assured that your claims will, as far as
possible, he ignored
The Committee reminds all underlying
bondhoIders, whether their bonds have been
defauitcd un or not the fact that the very
best bonds in the System were attacked In
the OIcCtt plan. and that all indications
point to an effort &c force a concession
from all divisional bends for The benefit Of
the holders Of Terminal Bonds and Stocks.
The committee also inutes the holders
Of Georgia Pacific Income Bonds TO de-
post the same under the agreement
j. WILCOX BROWN.
JOHN A. WHITRDGE,
SKlPWITH WILMER,
L. NJ. COLSTON,
JAMES IL. DOOLEY,
JOHN b. I,AMSAY,
r. NJ VENABLE,
JOHN GILL.
wNf. II. BLACKBOARD.
FRANK ?. CLARK,
JOHN NJ. NELSON,
Richmond and Danvine Underlying Bond
holders Committee.
BARTON & WILMER,
VENADLE & PACKARD.
FRANK +. CLARK,
BALTIMORE Nov. S, 1892.
nCS-3t
OFFICE OF THE RICHMOND AND DANvILIR0
UHDERLYTSa BoN DHOJDFRs CoNMrr ER,
908 FAST GERMAN s r E. P. o Pov G5
RALrlMoRE, Mn. November 10. ls92.
TUE CIRCULAR OF THIS COM TTTFE
Il and the sFreement nm Ter wlich bonds
have been ailed in for lep ri with he Ter
cantile rnst ant nepo g Com'anv NJ palti-
more be ha on A. lie ioI 10 tha COM
pany & an mem er OF he com nit e. or at
the office Of tn COMM ee
Pr MP e ACTION Is EARNESTLY RE-
QUESTE
SiRnsd) ]. WILCOX RROWN