The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1894-12-31
AToHIsoNaR ORGANIZATION
Outstanding Securities and the Fro
posed New Mortgage.

posed NEW NKOFegAAts
BOSTON, Dec. 81. 1S94.-The Boston
News Bureau publishes the following to-
day
The Atchisen Joint Reorganization Com
mittee failed to obtain a quorum Satur-
day afternoon in New York, and there
fore conferred informally upon the out
lines of the proposed reorganization plan.
Another meeting will be called for this
week, when it is expected the plan as
outlined a week ago will be formally ap-
proved and sent to the General Reorganl,
zation Committee and to the London ana
Amsterdam committees for their approv-
al When these represen tatiyes OF ABOUT
fifty million bonds have approved OF the
established for treatment with the At
lantic & Pacific, the st. Louis 81 san
Francisco and the Colorado Midland,
This done foreclosure will be pressed
lines already laid down. With a ma
jority of bonds, title under foreclosure
can be readily secured by the new COM
pany.
The Union Trust Company as trustee
has just made up for the reorganization
its account of the Atchison securities at
present outstanding ot the genera
scrip $129, 322, 8S6.74, and the balance up to
$50 900 is in reserve to cover the guar
anty fund notes the Atchison half of the
L
The new mortgage to replace the pres
ent one will also be for $3.50, 900, 900, but
as one-quarter of the interest on the
present As is to be made contingent on
earnings. the present As will receive IS
per cent or about s97 900 900 of new fours
and about $32, $50, 900 of new adjustment
or income bonds of issue limited to this
amount and next in priority to the new
fours.
of the present second mortgage bonds
which are TO be assessed per cent. and
int TO- pr ea 5oGa mere d are
900 900 .s3'' bonds The 'sB'' bonds may
get a tride better treatment than the
a. :; bonas sas The Atchisen $. owns aOogga
ed on in London.
For the two years coupons, including
that for July next, and amounting to
balance up to sl5O00O,0 will be reserved
to retire the prior liens, which are the
s9,000,o00 guaranty fund notes. the A,75o.-
600 equipment notes. 9 100000 Chicago q
ST. Louis bonds, and the A. & T. bonds;
and to permit the issue of $2,500,000 per
annum of the new fours for improvement
of the property.
For the s12 assessment on the shares
and the 81 assessment on the seconds
new preferred shares will issue, making,
with the conversion of the seconds, about
$102, 000,o00 of preferred stock, or about the
same amount as present common stock
outstanding.
The fourteen millions raised from as
sessment should provide a good working
cash balance, as the floating debt is but
S4,800,G COO OF notes payable and $1,000, 900 of
western accounts payable and the new
fours will settle fer two years coupons
and future improvements.
It is regarded as certain that 8 per cent.
interest on the present fours, or four per
cent. interest on the new fours can be
earned, and new fours are figured as
worth 50 and able to yield the company
future capital on at least a five per cent.
basis.
The reorganization people also figure
the new preferred stock as worth in the
great while about 85 of the s12 assessment
ON the stock