New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-03-10
UHISEEy Trust REPRESENTATIVES,

p,, Az OF THE COMMITTEE REPRESENTING MA
IoRiTY OF THE STOCK
,rn, REORGANIZATION Committee OF the Dstiii'ng
and catte Feeding Con pany. which represents NOR
man ma ,ry of the capital stock mas c'i''''
lie mans for reorgsnizlng the COMPANY an" " ~
hxed upon March p as the limit for the acceptance
of deposits under the plan. me principal
Of the plan as follows:
1,r,. The organization or continuance OF snch
cornora ton as may be necessary TO acquire OF hou
me assets and property CT b the f %Gsd securities.
81 100000 first mortgage per cent , no
hon6s lou. of a total issue OF R,COODO; StVrWb >
per &c Il non-cumuatve preferred stock $%""'v"
ThirdnEach stockholder in the present COMPANY
becoming party 70 the reorganzatoh - iFuu ~
10 subscribe for said bonds al par to the amount OF
,ngs and to deposit his stock on before Marc9
% 1895. with the Manhattan Trust COMPANY ana
9s2os and the remainder az called for, and shall
receive said bonds so subscribed for and % per- cent
on the par OF his present holdings OF stock In the
new preferred stock and 50 per cent in common
stock -. .a.,,., -
retire The outstanding 81 ooOcoo Of bonds and th.
rebate vouchers and other claims provided in the
bords will 30 reserved to be issued only in case or
an emergency upon the unanimous vote or the com
mite. subsequently by two-thrds vote OF 'he
FourthINeso,able receipts will be issued by the
Manhattan Trust Company on deposit OF stock, anu
appllca ion to list the sam will be made to the
Stock Exchsnge The TO the d bT
syndicate
The committee has thi. to say to the stock
holders:
The r.ports OF the experts employed by The re-
ceivers show an available surplus OF current assets
over current liabilities OF more than NVW@c. me
effect Of the present Plan VIII o 5e 10 nana f"r the
reorganized company. and to provide snric'ehs
r aen tSe applicaon Of the committee
removed Mr.. Greenhut as receiver ana pace lne
the president and directors still remain In control
Under existing circumstances. judicial sale o.
the property OF the company and dissolution %
the present corpora ton may take place an cary
date 1t is imperative that the stockholders should
unite at once protect their general interests ara
empower their representatives to take immedi9ie
immediate action the committee has fixed March
g 1895 as the limit FOR the acceptance Of deposits
under the plan.
Chicago. March a-"The report impresses me- very
,avorably" said Receiver McNulta. o. the Whisky
Trust in speaking to-day or the Reorganization
Committees report. issued from New-fork. lie
added:
1T seems 70 mo not only feasible but practicable
Nothing is said in the extract ! have seen about a
judicial sale but suppose there viii be one IL
would certainly be more satisfactory. The amour;
OF capital that would be secured by the committee
will ! think be ample successfully TO operate the
new concern. taking the increased value o. the
property into consideration. The only Improvement
which ! can suggest in the plan is FOR the raising
OF a larger sum or money 70 proNlde lor any eH''I
gency The heavy losses have now been stopped.
and there ought to be fair prohi al the end o. the
cattle-feedng season"
The most important question brought 10 the front
by the report OF the Reorganization Committee is
that relating 10 the future % the Spirit Dstillns
Association composed OF distng concerns that
have previously been antagonistic 10 the Trust.
This association was brought into being by 'he re-
ceiver for the purpose OF harmonizing the conflict
ing interests OF the Trust and outside distilleries
and TO advance prices TO a prOft-payinC basis. The
reorganization OF the Trust may dissolve the nov
association and threaten another reccvershp FOR
the Trust.
Levy Mayer. attorney. bespoke for tho plan the
hearty Endorsement OF every stockholder.