New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-07-09
financial.
To the Holders at the
SECOND.
THIRD ami
CONSOLIDATED
N0rt0n0c Bonds 1T the

I ~ "
Noyt0nGc Bonds 1T the
NORTHERN PACIFIC RAILROAD CU.
When this Committee Organized IN November NV.
IN, earnings II the Northern Pacific Railroad 'o"'',
ius.inod tie belief iha the property could b" ;rors"zi
-, der the CONSOLIDATED Mortgage without cis'urph" VIC
Bonds issued under tine second ana TNird N'rNaE'S'
Early rhis spring the NJ earnings fell 80 IA 7'"'' "
meeting tho interest ;hc Second MortS"f' "''" '
pr,y.ion FOR tho Third Mortgage Bonds, ih"t this Con-"
uftec originally formed Consolidated M'r'H"i"
ron1hod,~s Comnitic, became ~ TIE fore" ~ 'ir'n
stances iv tire authority OF the Agreement p" ~
organization Committee. ny which ific II VIII "'''o''''
be known Thrs met the Agreement "i f'O'"'''
10 ,pi WAS prepared for general protection 81 the
ronGholcrs and the deposit Of Bonds invited ''cr'n"
As the COMPANY was in the midst of a crss t'
character and Of which Is well W'e'S'0o'' "'
dc,n,, rlan Of reorganization could be snfey fofm"-
lated u-tu The x affairs for Tn" r"''rr '"''d -
die,,,c,l, rccognized This condition made prompt CO.
opcr,ion necessary immediate Sc'prot"'on On We
mart of the Main Line Honihol"rs and In preparation III
denomination by iogeclourc Ok one or more o. hee
mortgages 80 ,
by the terms q the Agreement ~ February 49, lS"'
the Reorganization Committee was empowered
TO admit +, this Agreement holder ~ any "'hu''
ALLEGATIONS or stocks " said Company. other than the
holders Of Consolidated Mortgage Bonds. upon sue"
terms and c,nariors end e such tirncs as to the
Commlitc" may seem iu!tc2ors.
IN order thnt every Gcposiinc Bondho'"r might nave
full freedom Of action declining ans plan OF eofs'
cation thereafter presented. IL was provided
THAT any holder such Certificates u p'po9t ""'
may not agree such Plan q re'TEan'1''''h may
within twenty days after the expiration =" '"'" -
uca;ion II adoption u such PLAN "''n1''" ''''
this Agreement"
ard may r,cciye r,,k Ponds upon payment - rs
pro rata Of The expenses incurred 10 ihe '"'' 81 WV"
eranal Ia, such expenses shall not exceed At may TINE
,hroo douara ,3-io,hs e per cent? p'r BOND.
rho NET curn.ngs of the Northern P"rihc
Railroad system. including III" oran'h"N' '"'
the vcnr ending Jun" 20. fSof' mr." "'ri'''
estimated after providing for prior rh.'rS's'
at about onc-third only OF the interest," u"
,,c Second 1.ortgagc Bonds. with n" pro-
vision whatever for the Third an" '""S""-
dated MortgaGc Hpnn'
Tho second Mo-,gac, Bonds bc'n in t'fa1'' ''nce
October ,as, cwo coupons. md 3D." 1hi'A N'7's"a'
Bonds eirre December last cvp cruuor1-
Default upon the FIRST M"rt%"Sc '"n"N
would have taken pincc on the hrs' Oh July
1891 but for tho action of this COMMITTED"
I'm providing II loan ot si.o0o.ono 10 the Re-
cciNcr-.
Aivcrso Interests threatened enion 'tc payment Of
tn JUL, coupon c,c.. after drc provision therefor
The on,cvon.~ - lands so 90" Sta" q M.ntoia ana
Dakota ,a.' 2 80 M..ouri River un'!"r he F"' Mort
sag. is subject
''untl any le.an,; rhau Occur IN som" - ~" If'
viaro. ~ the iar, . ..-chr sc-ir'd 90 fh~ riri <
th. holders < t,~ r,cfr-r. - ' ~ u" fa'l fAr'-'
c..,aany - convert 'h.lr stock m'o aii h"i. 'aa
=, ,c application q proceeds ncrcot go f4" ~
tin-ii.hrl,nt o, .u'h ft0c'
Tho Floating Dei .aolur'e - Hec'irrrs' ''r'i' '''
,,, ..l,e & a,cn.cl interest oni current '.'-r'ing
. noaGitic~.
amount. TO- Observation-Disclosures. s'3it"'s
,,,... .... sf.Ii1.OuO
| - ..i. ,...,.-, .- o.. Mn Itae M.rtgtr- Bonita
| Receiver fi.u-v g. Nons- r-pr~ts 'nat r''"''""'
..,, D.. c.r.~d.i a, 'h- rate q S3"-"" i'r nnrI1i
upon no permanent way fss" % 'o -".h standard
az wifi cradle thc Comp ny g. s4or'.-'n'if compete "N
rs rivals
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