New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-06-12
finaurlaI.
UnitedStates COrdage Co.
REORGANIZATION.


-, First Mortgage bonds. md of
Cunr.n,ced Preferred. and Common STOCK
of the United states Cord"ge Company
The undersigned at the request OF the holders Oh a
large amount Of the bonds and stocks OF ''e
states COrdnge Goa have consented u a "
mttee for the protection OF the rights OF all p' anu
rho generalization Of the affairs OF the COMPANY
r. ,.or,,,,,ae have prepared and deposited with the
Manhattan Trust Company plan OF reosa"'~"
,ion providng In substance as follows
tYrst-Thc organization OF corporation 10 acquire
tho real estate and properties Of the present COM
pany. ,,- .,,.s.
A. 100000 First Mortgage per cent f"N-ie"
Gold Bonds ,-,.,n.
liens properties belonging l" pi''''" '
furnish working capital ,
B. $4,000 Consolidated Mortgage per cent r'..
Year Gold Bonds with voting power; per cunt
interest non cumulative payable from Fronts IN any
49,. ro, IN any dividend upon the stock. provided
that after a dividend Of per cent Is pa'd upon ','e
stock Of the Company in any year. th're s''' "
o1 unon the consolidated bonds further amount
NOT 70 exceed 2k per cent from proits II suo' po'''
hu Justify the same, there are arrears OF
interest equal TO said amount. otherwise 10 tiu d"o"
~ such interest az be in arrear'
c. Si2 900 Common STOCK
mira The holders Of bonds and stocks OF 'ne p's
,,y ohio shall become parties the reorganization
and shall deposit the came with the Committee s"a' ."
entitled 10 receive bonds and stocks as hereaDo'e ue
scrbcd on the following basis: oo,o
n Holders q the present outstanding issue Of s''"o"
., hond shall be entitled exchange the same nj par
for consolidated bonds interest coupon maturing
July l. 1893 to De paid also in Ike bonds.
b. Every Of guaranteed stock shai sups'r' al
pa for said new First Mortgage bonds 'ngsresauhs
e. o con 10 tho amount II $50 per share for his re-
spcctve holding and shall pay 81 per snare upon o
coming party the agreement and the reinalhoer !"
three instruments upon the call u the Committee up'"
no. loss than days notice and shall receive upon
kmpn
frnane the conditions Of the reoganiza'lon "h'h
prepared for ISSUE bonds Of the said Issue Of s'o""
A. rar to the of said payment IN cash. interest,"
on such bonds =, adjusted and shall also receive W
per cont In common stock Of the new company "'
,r up,n the par value Of his said holding deposited
under the agreement.
Every holder Of preferred stock shall In Ike manner
s,hscr,lo q, par for said new Mortgage bonds 10
tho amour, II ten dollars per share for his respective
holding AMI shall pay 81 80 per share upon becoming
rrty to the agr,r nent and the remainder IN three IN
solmcats AZ above provided receiving bon1s 70 the
amour, o. .uch cash payment and forty per cont Of
common stock q the New Company at par upon the
pa value 4 his holding 4 preferred stock
II Every holder common stock shall in like manner
subscribe at par said new First Mortgage bonhs %
the amour, 4 dollars per share for his respective
holding and shall pay 81 - per share upon becoming
party to the agreement. and the remainder IN three
,n-,ancns as provided receiving bonds To the
amount u such cash payment. and twenty per cent
Z common u the New Company AZ par upon the
par value q his holding u common stock
r.td,r4 ~ securities 4 the United Cordage Co.
before June ION. ls'o with
A.. Manhattan Trust Company. New-fork city.
follows:
First Mortgage Bonds.
Guaranteed stock. with first ins,alment Of $500
per share.
Preferred stock. with frs, instalmcnt OF $50"
per share.
Common stock. with first ins,ament OF si.23
per share. Now y 0rk funds
Tn" scption the above issue u new Bonds mas
been unierwrlf'cn rs n syndicate.
y. g1ail- receipts VIII h. issued by the Manhattan
Trust Company deposit n bonds and ~ Euaran-
toel Preferred AMI Common STOCK. and Application 10
.lst the same VIII D. male 10 the STOCK Exchange
Copies u he plan reorganization and q the form OF
assent may be- had Application 20 the Mammalian
Trust Company. Wall street corner ~ Nassau. Ne"
FRANK X. STtRGIS.
WILLIAM BARBOUR.
JOHN !. WATERBURY,,
Committee.
T II. WENTWORTH Secretary.