The times. [volume] (Richmond, Va.) 1890-1903, 1893-04-14
Observation-Disclosures
pRExEL, xoRGAN@ co. WILL REoR-
eANIzE THE TERMINAL.
VIII Announce the Plan M Soon ~ the Sc
curities Are Deposited-Tho Conditions
Namod-Directors Meet.

NEW YORK. April 1s-Drexel. Morgan
q Co. have announced that they will UNI
dertake the reorganization OF the Rich
mond Terminal. In a letter written in re-
ply to the letter of the Richmond Termi-
nal committee. the firm says:
I'VE believe that reorganization is prac-
ticable on a sound basis that viii be
equitable and prove to the ultimate ad-
vantage Of all security-holders.
I'VE are prepared TO act on your re-
quest. and will be ready TO announce an
agreement and plan OF reorganization,
and TO form a syndicate TO underwrite the
same. as soon as several classes of the
securities OF the Terminal Company-viz.,
six per cent. bonds. five per cent. bonds.
preferred stock and common stock-shall,
pursuant 10 your letter of February %.
have been deposited with us in amounts
sufficient to demonstrate that the holders
OF such securities generally join in your
desire that we shall undertake the work
of reorganization.
ut must be understood that we are
given full authority 10 include any OF the
securities of the Terminal Company so
deposited in the plan when announced.
and that each dep0sitor. by his deposit
gives such authority and his consent that
all the terrs and provisions OF the plan,
together with assessments on deposited
stock, shall be discretionary with us.
The firm will begin 10 receive deposits
OF stock and bonds at their Office on
Monday. giving temporary receipts. when
shall be exchanged later for reorganiza-
tion certificates. cOuntersigred by the
Central Trust Company. which will be the
custodian Of securities deposited under
the plan.
On receipt of the foregoing letter the
committee issued the following:
ITO the holders of the per cent. trust
bonds per cent. trust bonds. preferred
stock and common stock Of the Rlch-
mCnd and West Point Terminal Railway
and Trust Company.
Referring TO the foregoing letter from
Drexel. Norge & Co. we hereby recon-
mend all holders Of the above securities
20 deposit the same with Drexei, Morgan
& Co. % Wall street. New York. at once,
and in no event later than May !, 1873,
in order to assure them Of your co-opera-
tion and 10 cradle them 10 proceed with
the reorganization with the least delay
possible. Such course is. in our opinion.
essential for the protection Of your in
te-eSts.
"(SigneD William p. Clyde. George F.
Stone Samuel T. Thomas. William
+. Strong. J. c. Maben. Thomas f.
Ryan
The board Of directors of the Richmond
and West Point Terminal Railway and
Warehouse Company met end adopted
these resolutions:
Whereas. the foregoing letter TO and
recommendation by security holders have
been laid before this board for its In
formation.
Resolved That this board recommend
the holders Of all classes Of securities Of
this company to deposit them Immediately
with Drexel. Morgan & Co. on the terms
and for the purpose named in their let
ter
The resolutions were sent out TO security
holders over the signature Of w. q. Oak
man. president. and +. X Lynch. as
sistant secretary of the Richmond Ter
minal Comps ny.