The times. [volume] (Richmond, Va.) 1890-1903, 1894-03-02
TERmiyA1 REoKGASIzATIoy.
The Amended Plan NJ de Public by Drerel'
Morgan & Co.

NEW YORK. March 1.-The amended
plan Of reorganlzation Of the Richmond
Terminal REORGANIZATION Committee was
made public to-day b. Drexel' Morgan
Co.. the deposiiaTies uader the plan.
which is signed by G. H. Coster, George
5. Herman. and Anthony ). Ihomas, as
a committe of REORGANIZATION, Ihe OIL
einal plan excluded lne East lehneSsee'
Virginia and Georgia cincinnati ENteh-
sion the Nfetnpbis and Charleston, and
the Mobile and birmingham railroads,
and the new plan excludes the chester
and LenOir the Cheraw and chester,
the Spartansburg. Union and Columbia,
the Richmond and Mccklenburg, the
Northeastern of Georgia, the AsheVille
and Spartansb.rg. and the Macon ana
Northern roads.
The committee says fhat although about
g per cent. Of the achmond Iermihal
stock has been assessed. and the assess
meut so far AZ called has been paid ana
also, though to a lesser extent, on lhe
East Tennessee. Virginia and Georgia
stocks. a general feeling has prevailed
that i'm view Of the change I'm financial
conditions the committee should fairly en-
deavor to tighten the assessment and to
allow bonds for some portion thereof. II
has. therefore. reduced the assessments
on Richmond Terminal common and East
Tennessee common by ~ per cent. IN
amount. and instead of allowing therefor
only preferred stock it allows for the
amount Of all assessments ON the new
basis one-fourth IN bonds bearing interest
from January I. 1896 and three-fourths IN
preferred stock trust certificates. As the
assessments on East Tennessee first ana
second preferred originally liked were com
paratively light. they are not reduced In
amount. but like the others, they are
allowed one-fourth iu bonds and three
fourths I'm preferred stock trustees GER
tihcates. The reductions I'm assessment
represent nearly the amount OF money
which has been received from earnings
and applied TO payment OF claims whlen
maured prior f0 3 rsFeivc7ihip' anu
which had 10 be provided from out OF
assessment money. That portion OF me
floating debt which IS fully secured VIII
be paid or purchased. principal and ih-
terest. in fun, and the emergency loan
will be purchased or exchanged, principal
and interest, in the new bends.
As the stocks Of the Richmond Ter
minal and East Tennessee Company, al
ready ON deposit and on which assess
mtllS 10 the tAAflA csilEnh9 'eAi''N hN
not been paid. the amount OF such for
mer calls with interest at per cent.
per annum from the date Of call must
be paid on or before March 20. 1894, or
such defaulted stocks will likewise be
excluded from the plan as now modified
OF the uncalled assessments as now
modified further and additional call is
now made for SlSS per share on Rich
mOnd Terminal common stock; N.95 per
share Of East Tennessee common stock,
$3.50 per share on East Tennessee second
preferred stocks; - cents per share on
East Tennessee first preferred stock, and
the same must be paid at the office Of
Messrs. Drexel. Morgan x Company. p
Wall street New York. on or before
March -. 1894, such payment to be re-
ceipted for on the reorganization Ger
tifcates which must be presented for
the purpose The remainder of the
assessment will be called In two equal
instaliments. payable on May p. 1894,
and July 23 1891 In case Of nOn-accept-
ance of this modified plan by the holders
Of securities affected by IL TO an extent
deemed by the committee sufficient to
warrant ii in providing further. the re-
organization win be abandoned except
as Co the securities Of the Richmond
and West Point Terminal Railroad and
Warehouse Company. In such event the
Richmond and Danvile and the East
tennessee securities will be returned TO
the respective holders Of reorganization
receipts therefor. The assets acquired
by the committee at the recent sale by
the receiver Of the Richmond Terminal
Company will be deposited in a trust
on terms similar 10 the other trusts above
mentioned. but for the equal pro rata
Deneht according 10 the par value Of
holdings Of the holders Of reorganization
receipts for Richmond Terminal preferred
ana common stock but without prefer
ence or priority between holdings OF
th'se TWO classes of stock as to the
termination Of the provisions of the
trust or otherwise.