New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-06-21
,TCHISON'S NEW PLAN OUT.
srocK TO DE ASSESSED SIP A SHARE.

...u. INCOME BONDS FOR THE ASSESSMENT
svcoxp MORTGAGE BONDS TO BE USED
FOR IMPROVEMENTS ETC.-THE SCHEME
APPROVED BY THE FOREIGN BOND
HOLDERS COMMITTEES.
ri, 1ong-expected plan Of reorganization of the
.,cbison Topeka and Santa Fe Railroad was ON
,auv announced yesterday by the General Com
u,ee Of which II. Somers Hayes is chairman
~na ulan will be recommended to the deposlthg
tanabolders at a public meeting about 10 be called
" ,he London Bondholdcrs' Committee, and II
" neen approved already by Hope & Co., Of Am
sterdam. .,..,
The official plan leaves it to be determined
IAsther foreclosure proceedings shall be taken
,aer the general mortgage. dated october l' lSo''
- under the second mortgage. securing the "A
", ..p" bonds dated July J. 1892. The new COM
~, will issue slO2 10000 capital stock. the amount
n, outstanding There will be created second
ortcage subject to the general mortgage but SUI
ar,or in lien TO the new income mortgage anu
overtng the same property as the general mort
co covers The second mortgage will secure 500
80, nor cent fftv-year gold bonds. of which
~, more than s. 0o0oO0 may be issued for payment
~ floating debt and cash reorganization require
ents and in addition. not more than $1,000" IN
any one year for improvements equipment anu
oneral purposes The new company VIII also IS
srs aftv-year income bonds. limited TO Sllo'oNV"
rhese income bonds shall be entitled to per cent
,,erest per year. non-accumulatiNe, payable a'
,ar "a may be paid out OF net earnings. Ihese
hor,s shall be issued and delivered as follows; 90
~ oesentine holders Of present second mortgage
80 bonds for principal and interest TO date OF
= bonds (at l05). Ssi00o00) co. TO holders OF out
nvodnc & Oc 600 'B" bonds. for principal ana IN
rest 1at 1l2 s. 10000; go to asserting holders oil
wrssent stock who shall pay an assessment OF ~ a
BIZ for assessment at par Sl224o~Fl, Ga for th'
Sm%nosa Of acquiring securities OF auNlhary com
psnies 10 the AtChisOn system, $5'3O3'p' total
RRiisepoo66 .,..,.. 49,. .,ou
The proposed plan provides for placing the new
10y i'm voting trust, 10 last until per cent
ntarast shall have been paid for three CONSECUTIVE
raors The new income bonds are to have voting
o~er similar that Of the stock, at the ratt OIL
poe vote for every 800 par value of bonds II j.
nrovi5el that syndiCateS may De formed 10 con
5nct the financing of the reorganization ana 10 &C
onire the rights any Notwithstanding stock ano
SSonSholders The auxiliary Atchson companies
W,aieni Railroad and the ST. Louis and san Fran
o,sco Railwav-may be reorganized If desirable
e"corl,rC TO plans 10 be hereafter submitted
IIolders Of securities OF these companies are IN
vitod 10 deposit them. subject 70 approval OF any
plan submitted " -
The Reorganization Committee has selected aS az
nosItaries under the plan the following institutions
fnd firms The New York Guaranty ana indemnify
Comparv the Mercantile Trust company ana IN
central Trust Company. of New YORK, the New
England Trust Company, of Boston, the i'ohuoi
pnndhollers' Committee, and Barring BrothcrS y
20 limited. OF London. ana Hope * Co, ana iiu
brechf Van Harcncarspel 4 Van WISER OF Am
sterlan.