New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-08-28

The new bonds deliverable as above bear Interest
from July ist 1890 tnrst corpon 20 mature January l.
1871, AT 3g, per annum for two years and 40 there
after
The bond, 10 be exchanged bear all unpaid cou-
pons and no allowance will be made FOR coupons
The assessments the stock OF the New-1ork i'hhe
Erie & Western Railroad Company are nned at VIZ per
share on preferred and SIS share on common
stock but prompt deposit OF ihe securities anu d"
early payment Of considerable assessment fund are I'M
portan,. deduction Of a per share on the preferred
stock and SO per share on the common stock VIII De
allowed on account Of the assessments above mentioned
TO such depos,ors deposit their stock wi'h'h so'
period discretionary with the Committee ana also pay
tho assessment, less deduction within Gates TO be
ox., he advertisement such payment lie in four in
staments at least 30 days apart Such depositorS VIII
thus obtain participation In the reorganization upon 'he
payment Of the net sum OF
IS per share the preferred stock
si2 per share the common stock
sockholder. who do comply with all these condi-
tions must pay the entire assessment without ue"""'
at the time Of depositing their stock
The stock OF the New Company IL TO be held oy voting
Trustees 10 be named by for five years and tnere-
aer until the new first preferred stock shall have re-
csved 4 cash dividend in year although the voting
Trustees may deliver the stock at an earlier date Inc
Voting Trustees WILL In the meanwhile deliver '''"-
Gates Of beneficial Interest. as usual
An arrangement has been made with the Ne"-io'N'
PENNSYLVANIA and Ohio Railroad Voting Trustees wh"re-
bv subject ratification by their benehcari"s 'hey VI"
I'm
plan 10 forecIose deliver the y. Y r. & o. property
sh,ect only &c the prior lien. equipment and sasedne
recures for which reservation Is made In the plan.
The cash requirements Of the plan $2jOi5.Css as
follows: 100000
Floating deb, receivers certificates sii5oo 600
Collateral Trust Bonds Erie) to be paid on Mt
10 rer cent pursuant to the terms OF the
Trust Deed. oo'of"
REORGANIZATION First Lien Bonds tEre) to be
paid on <"'V
trtctiOn
expenses oo''-''
Car trusts for three years z""o"
s25Oi5 6ss
An Underwriting Syndicate has agreed to purchase
sib 600 600 Of tho per cent Prior sn Bonds also 10
guarantee the payment ~ the assessments by the Erie
Stockholders. thus providing the necessary funds
Az fully set soh In the plan the nred charges OF the
Erie Systrm calculated all bonds which VIII b" out
standing ON completion ~ the reorganization, are re-
duccd from 49, 10000 ss5ooco nnnum and for the
first two yenta after reorganization further reduction
II abou, smoocD per annum Ia made to nm amount
neary raugled by the net earnings ~ tho property In
1891 Furthermore, In the nsrd charge IN Included
IA, ln,crer, on large sum ~ money Intended TO l."
spent Immediately after reorganization In Improving ana
adding c IN. property THIS expenditure should enable
the Company enlarge It's business ana also 70 transact
II with greater economy than heretofore.
The real earnings ~ the Erie system from iNs '"
1874 Inclusive show after allowing for all cross entries
and worthlcsr items, surplus over the liked
hnrsos undo, the plan ~ reorganization ~ about shp
600 per annum a sum sufficient Tor the full cent
dividend preferred stock and n"nt, per cent
on the second preferred stock While not Intend
ing To- imply that any return former earnings
can be- Immediately realized make the foregoing
stat. m.nt show that the securiti". ~ the new com
oany viii have value and that the reorganization
IN sound and conservative.
At our sugg, son Messrs. G. II. coser. Louis Fiz
Anthony j. Thomas have undertaken to act
for the purpose Of carrying the reorganiza
tion into We agreed cooperate in AMI
supervise the work ~ reorganization.
of the and plan ~ reorganization are
now rady for dsribution and all security holders
invited IT, Obtain them from They forth In detail
many which II In impractcabl~ condense into
this circular. hu' which Of importance to
oury holders ni drposors bound thereby with
out regard 10 this circular
Referring IN the lists ~ securities ~ the New York.
Lake Erie Western Railroad Company. and % the
Chicago Fri, Railroad Company affected by the plan
suant provisions 81 the plan they may now DE-
post their securities with either 81 of,ces
therefor negotiable receipts exchangeabe at any
time for reorganization certificates.
Securities not deposlted with will he entitled 10
participate IN the benefits OF the reorganization.
The bond Of the New York Lake Erie aud wsstsrn