New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-10-27
RAILROAD INTERESTS.
NORTHERN PACIFIC REORGANlZAiiO1>'

NORTHERN PACIFIC REORGANIZATION.
THE ADAMS COMMITTEE AGREES TO TAKE S''o"'-
$50 OF THE RECEIVERS CERTIFICATES
The Adams REORGANIZATION Committee OF the
Northern Pacific Railroad Company has agreeo "
take S3.5O0CO0 of the receivers certihca'cS "
thoriZed by the courts some time ago. al 60
of interest acceptable to the receivers yesterday
the Adams committee signed contract WIN inc
receivers agreeing TO take this amount Vi '"o
certificates and In case 1t was thoush. neoe'''
to sell the rest OF the 100000 authorized Wy VIC
courts the committee would take them a'so' in'
Adams committee will now. 1t says take up inc
g. 1875 600 old certificates held by the Ives interest,"
The certificates were bid for on Monday at NIL
waukee when the following bids were oHereu'
Brayton Ives $4,000 at per cent less E per ie.
commission; First National Bank OF M nwisi::
Dunn Dunn Brothers NewYork $4,000 at per cent less
ner cent commission Hopkins Brothers. New,
paid or at IS cents on the dollar per cent were ere
rromrt granted the receivers time to secure new
bids 49, -, ynoo,oa that the
Ives interest would bid for the total issue or the
certificates from the readiness It dispiayen "a nten
Ing up the old certificates Mr. Ives had no ln,e.I-
ton Of bidding for the entire issue OF cerlncates.
He thought that would be better for the interests
OF the road not to have the certiicates hed py
anv one Institution committee. and his DID rep.
resented his own personal 4l her ba taken in the
affairs OF the company has been Tor us pes' III
tcrests A., ,oory yi,, have TO
bear re ppoportionate burdens with the bondholders
in the 5rssaen beeSes that in the
ton the stockholders should have an equitable COIL
% caed mon to make Mr. Ives maintains that
there should be unity OF action on the p aru %
ON account OF the complicated and interviewer In
terests II would be practically imposs,De lor any
one class to carry out an equi'ao'e PA" VI 'eo'
ganizaton
READING AND THE POSSIBLE Goals WAX.
The report Of dssensions among the anthrac"e
coal companies and Of an alleged sharp coal war
impending in consequence of these has elected the
following expression Of opinion from representa-
tive Of the Reading Reorganization Committee:
This scare should be an object lesson to the coai
companies and Reading security -n9ders. " nen
the real situation Is understood Reading VIII au
vance and in a coal fight 1t can lose nothihs al, aii
may get sufficient jusGe to Rp put S Sn paying in
terest on IS per OF the entire coal lands 70 get
about % per cent Of the trade In ma isG l nave only
% per cent Of the trade or . per cent less tnan
her rights. But with double her ,on ma e,n under
make on lower price tnil Shs b ban Of
present arrangements, but what wouid Sec2 3nsds
this the pending reorganization pan places r ' her
a position hght and 10 ngat ior yeaIs LOT i'n
disirhu,es the board among many security
holders that it makes 1t impossible 10 coercs me
Management by threats Of hostile conToI. Hea"-
iny il going to have a Reading management
In the second place. Reading has no diyideh aar
The plan in case OF necessity, cannot only have
~ pe",innent naym.nts extended. but has the
money provided for the general mortgage per celi
bonds for three years. while one year 81 oa,
var would pretty well use up her rivals II Is ga a
f,rtlnate thing that Reading security holders are
AZ this early stage. receiving so Vdluapie an opJeo,
i.con ,s 70 tho wisdom and necessity OF the present
plan OF reorganization. With the scheme sucS as,
mi reasonable possibility OF an honest coh Iient
means dividends for Reading and pretty serious
problem for the companies which nave ni'ne s,n2
,akan al Inc cream OF the business. Keep IN mlild
n nr cent interest to pay and - per cent OF returns
rng vou won't get very nervous over any attack on