The herald., 1895-04-11
THE BIG WORLD ON WHEELS
The AtchisOn Directors Issue a
Circular
A LARGE FLOATING DEBT
The Executive Board Found the Company
Was Bankrupt
The Santa Fe's Special Fiesta Train Service.
Local News Notes and Personal
1ention

NEW YORK, April 10.-The board of
directors of the Atchson, Topeka and
Santa Fe company met today and issued
the following circular to the stockholders
of the company:
when your directors were elected they
found your company bankrupt. its prop
| erty in the hands of receivers, its de-
faulted interest amounting to many mil
| lions of dollars, its repairs renewals and
| Improvements not up to date, its bust
ness badly demoralized. In addition to
! this the reorganization committee had
long been considering the problem of re-
organization and had already announced
and withdrawn one. By the time your
directors had acquired Il full knowledge
of the condition and requirements OF your
company the original reorganization COM
mittee. desiring perfect unity. had ar
ranged for II committee known as the Joint
executive reorganization committee, and
this committee had taken up the task of
making a plan where the first committee
had lett it off A plan has finally been
formulated and announced During the
time through which the joint executive
reorganization committee has devoted IT.
self to forming this plan, your directors
have given unceasing attention to 1t and
nave lett mourning unuOHc W SctuIc oii
the part of the committee knowledge
and consideration of all plausible and
pertinent facts and opinions relating to
u proper reorganization OF the sharehold-
crs. In every feasible way the view OF
your directors and individual sharehold-
ers and their friends have brought TO the
attention of the committee.
What has been communicated to it has
also been communicated so far as was
proper to many independent parties of
great financial strength whose interest i'll
the property has been repeatedly and
earnestly appea.e ed to or solicited. No
new interest seemed willing to und ertake
so great a task as the one presented. The
Joint executive reorganization committee,
therefore has been alone in the field so
far rs relates to the actual PRONUNCIATION
If plan.
The reduction of the assessment from
SD per share in the stock, the amount
fixed by the first committee, to $40, Civ
ing the preferred stock for this assess
nent. and the reduction of the fixed
charges so as to insure TO the stock what
seems to be absolute immunity from the
danger of foreclosure in the future, are
provisions in line with our efforts for tair
treatment to shareholders. Though the
charges ahead OF the pres mt stock are
somewhat increased the property and its
possibilities are bettered and the net re-
suit is undoubtedly great gain over eX-
listing conditions.
I'm completion of the PLAN it was un-
derwritten by Messrs. Barring Bros. 4 Co.
of London, and other strong foreign and
American bankers, who should be able to
estimate correctly the probable future of
the shares. These underwriters have as
sumed the liability of paying the assess
ment and taking the stock. 1t is evident
they would not have done this but for the
belief that the stock would have its pres
,I,,o ,.rrhT l...Nlp
is. therefore, that the general mortgage
bondholders will deposit their bonds, the
plan be effective and an entire reorganiza-
tion of the system be speedily accom-
plished. ,.i. .at ,.df -st. Hl. -..-,..
I'm view OF these considerations we, ap-
prove tie plan. recommending that the
stock be deposited and the assessment
in every possible way.
Signed: William l.. Bule. James a.
Blair, Edwin Berwind, B. ?. Cheney. Jr.,
II. r. Duval Thomas ?. Fowler, Charles
II. Gleed, Samuel P. Lawrence, John A.
Mccall, Geroeee A: Nickerson, Thomas A.
Osborne. Frank X. Sturgis."
On April 18th, 18TH 18th and Goth, in
addition to the regular service the Santa
Fe will run special Fiesta flyer, leaving
Riverside at 9:30 a. M, Highlands at 8: IL
a. m, Redlands at 9:40 a. M, San Ber-
nardino az 10 a. M, North Ontario at
III :oU d. M, NOrtu OIuOlld III ~ 4U IL H.,
Pasadena at II 20 a. M, arriving at Los
Angeles at AS u. M, connections being
made with this train at East Riverside
with trains from Temecula and San ia
cinto lines. Special trains will also leave
Redondo at 6 80 p. M, arriving at Los
Angeles at 7:l0 p. M. On the above dates
special trains will leave Los Angeles at
II p. IN. for Santa Ana Redondo River
side and Redlands, stopping at interme-
diate points to let off passengers.